This brings the Southeast Asian venture firm's total committed capital managed 
to US$425M 


Openspace Ventures is pleased to announce the final close of Openspace Ventures 
III, L.P. on 26 Feb 2021, with total subscriptions accepted at US$200 million. 
Openspace now manages committed capital of US$425 million across three funds.

"2021 is poised to be a strong year for Openspace Ventures and the Southeast 
Asian ecosystem," said Shane Chesson, Co-founder and Partner of Openspace. 
"Companies are scaling faster than ever and reaching key milestones on the path 
to liquidity or exit. This progress helped Openspace fully raise Fund 3 in 8 
months during a pandemic. We thank investors for their confidence in us as we 
aim to continue to deliver superior returns and positively transform Southeast 
Asian economies in the long run." The firm counts global institutional 
powerhouses such as Temasek, StepStone Group and Sofina in its highly-regarded 
stable of repeat limited partners, including sovereign wealth funds, pension 
funds, university endowments, and insurance companies. Fund 3 saw the addition 
of new global investors including European institutions DEG and Norfund, 
US-based 57 Stars and Mizuho, a leading global bank headquartered in Japan.

Established in 2014, the Singapore-based venture fund manager is a pioneer in 
the region. It has 33 investments across key sectors including logistics, 
fintech, agtech, edtech, healthtech, cleantech and B2B SaaS. Selected leading 
companies invested at Series A include Halodoc (health - Indonesia), Kumu 
(consumer tech - Philippines), TaniHub (agtech - Indonesia), Finnomena (fintech 
- Thailand), FinAccel (fintech - Indonesia), Gojek (transport, logistics, 
fintech - Indonesia) and Biofourmis (health - Singapore/US). Despite COVID-19, 
Openspace's companies raised more than US$2 billion in capital in 2020, 
bringing total follow-on capital to US$6.5 billion to date.

Hian Goh, Co-founder and Partner of Openspace, said, "The team and all the 
portfolio founders worked tirelessly through the unprecedented crisis of 2020 
and it showed. We executed two successful full exits last year and made four 
investments out of Fund 3 in Indonesia and Thailand in the midst of the 
pandemic."

Openspace's team of 25 spans 12 nationalities. The firm has offices in Bangkok, 
Jakarta and Manila, and is in the process of setting up an office in Ho Chi 
Minh City. The VC's first and second funds, launched in 2014 and 2017, 
respectively, are both performing in the top quartile against global peers, 
according to Cambridge Associates and Preqin benchmarks.

"We continue to see enormous untapped potential in the market," said Jessica 
Huang Pouleur, who joined Openspace as Executive Director in 2020 to lead OSV+, 
the firm's first growth fund targeted at mid-stage tech opportunities in the 
region. "The Southeast Asian startup ecosystem continues to evolve and is now 
producing a high volume of attractive mid-stage investment opportunities. We 
are proud to be a meaningful contributor to the region's tech ecosystem's 
evolution as we continue to back strong start-ups and participate in their next 
phase of growth."

SOURCE:  Openspace Ventures