Singapore-based single family office invests in Intudo Ventures fund

Singapore-based single family office invests in Intudo Ventures fund

Intudo ventures, a venture capital fund focused on Indonesia just announced it closed its third fund today worth around 115 million USD. One of the investors is the single-family office of Singaporean businessman Koh Boon Hwee.

Indonesia focused VC firm closes third fund

Intudo Ventures was founded in June 2017 and was set up as a venture capital firm that focuses on early-stage Indonesian companies. Intudo so far has managed to close three funds with steadily increasing volume. While the first fund of the Indonesia focused fund was 10 million USD, their second fund already had a volume of 50 million USD. The founders intend to invest in startups in the agriculture, B2B and enterprise, education, finance and insurance, healthcare, and logistics sectors. They plan to invest 1 to 10 million USD per startup, while focusing on early-stage and Series A rounds while also investing in Series B and C rounds, but only for firms from their first two funds.

Singapore based single family office Black Kite Capital invests in venture capital fund

Black Kite Capital is the single-family office of Koh Boon Hwee. Mr. Hwee has served on the boards of multiple big companies like Singapore Airlines and Singtel. His Singapore-based family office Black Kite Capital has invested in multiple asset classes including real estate, public equity, and private equity. Their focus lies on venture capital with an additional focus on angel, pre-seed, and seed investments. Because of this Black Kite Capital has invested in Intudo Ventures as a limited partner.

Source: TechCrunch, 04.10.2021
Picture Source: Hu Chen

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