VC Fund of funds in Asia

omegalul's picture
Rank: Gorilla | 562

Hi all,

Moved to a VC firm in Asia some time ago, and noticed that it's quite hard to find serious LPs to fundraise from. Family offices are notoriously difficult to connect to, and even if you do connect to them, check sizes are way below what we'd take. On the institutional side, it seems like most LPs in Asia are pension funds / corporates - and money is hard to compete for. Especially since corporate venture arms turn to direct investments over time.

Would appreciate it greatly if anyone could point me to fund of funds located in Asia investing in VC - haven't had much luck finding any.

Thanks in advance!

Best,
Omegalul

Comments (4)

Jan 31, 2020

Adams Street, Unicorn Capital, Commonfund, LGT, Harbourvest, Sigular Guff - all of them do VCs. Unicorn and Adams Street is alot more active than the rest

Apr 23, 2020

The firms Sniper mentioned don't really do Asian venture. Yeah it's true - not a lot of VC FoFs in Asia. It's just not a mature enough market in Asia for there to be venture-dedicated FoFs. Most VC FoF's do US and Europe - Asia is more of an opportunistic thing for VC FoFs.

That said, if you're looking to raise from institutional investors for Asian venture, don't look for FoFs as your go-to LPs. Your best bet (besides family offices and pension plans) is sovereign wealth funds like GIC or Mubadala (unless they're heavily allocated to the geography & sector your firm is focusing on). If you have impact measurements built into your investment criteria, you can widen that to investors like the IFC, ADB, NDF, or FMO.

Sorry I can't be of more help - I would maybe see if there are other VCs in your network and geography who could give you a better insight into fundraising.

Apr 23, 2020

Axiom Asia might be a good FoF investor in Asia