Singapore-based business community platform and resource database Beamstart (beamstart.com) has announced it will launch a USD 10 million fund to invest in early-stage technology startups in Southeast Asia.
The fund which is backed by co-founders Kenneth Ho and Wallace Ho will be launched in a few weeks and will begin investing in startups in the second quarter of 2021 with a ticket size of up to USD 100,000 per company.
“With some capital, lots of backing, and leveraging on the power of technology, we believe many of these startups could rise to phenomenal heights. We also believe that the rise of China, coupled with COVID-19’s after-effects, has created a whole new digital-first world where consumer behavior, working patterns, and mobile usage have changed forever,” said Kenneth Ho, co-founder and director of Beamstart.
“We believe there is tremendous potential in backing the next generation of companies in this part of the world, where early-stage startups lack lots of support. With some capital, lots of backing and leveraging on the power of technology, we believe many of these startups could rise to phenomenal heights,” Kenneth Added