Cocoon Capital Announces First Close of USD 50 Million Fund III
- Editor
- Apr 30
- 1 min read
Whats Happening:
Cocoon Capital, a top-performing early-stage venture capital fund in Southeast Asia, has announced the first close of its third fund, securing $30 million in commitments towards a $50 million target. The new fund will focus on backing promising enterprise and deep tech startups in the region, providing capital and hands-on support to help them scale globally.
Key Moves:
Cocoon Capital secures $30 million in first close of Fund III
Fund targets $50 million total, focusing on enterprise and deep tech startups
Cocoon plans to invest in 20 companies over the next 4-5 years
By The Numbers:
Cocoon Capital has over $90 million in assets under management
The fund has made over 30 investments to date
55% of Fund III is reserved for follow-on investments up to Series A
Key Quotes:
"We chose to avoid chasing the hype around consumer tech and the latest buzzwords like AI and blockchain," said Michael Blakey, Managing Partner at Cocoon Capital.
"The digital transformation of traditional industries in Southeast Asia is still in its infancy," said Carol Cheung, Partner at Cocoon Capital.
"These founders aren't just building regional plays," said Zongxi Sia, Investment Director. "They're solving universal problems with Southeast Asia as their launchpad."
Bottom Line:
Cocoon Capital's Fund III demonstrates the fund's commitment to backing enterprise and deep tech startups in Southeast Asia. With a focus on overlooked opportunities and a hands-on approach, Cocoon aims to build a resilient and transformational portfolio that can scale globally, potentially reshaping industries and setting new standards for innovation in the region.
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