- Has a ticket size of US$200,000 to US$500,000
- Backed three startups and aims to invest in 30 to 40 portfolios
INDONESIA-based Lippo Group’s investment arm Venturra Capital launches a new seed arm, Venturra Discovery recently. Since its inception in 2015, Venturra has been actively investing in tech-enabled companies primarily in Southeast Asia (SEA).
The number of companies under its portfolio has grown to 22 through its ‘Fund I’, with big names such as Ruang Guru, Zilingo, Sociolla, Fabelio, Shopback, and HappyFresh. This covers varied industries including e-commerce, financial technology, marketplace, healthcare and education.
According to Cento Venture’s SEA Tech Investments 2017 report, the number of deals between US$500K,000 or less, dropped to 78 in 2017, compared to 135 in 2016. Deals between US$2 million to US$5 million went up to 46, compared to 33 in 2016.
Seeing the decrease in early stage deals, Venturra is seeking to fill a gap and play a part in the creation of new companies.
Venturra Discovery is planning to invest seed to Pre Series A funds in 30 to 40 portfolios across SEA over the next four years, with ticket sizes ranging from US$200,000 to US$500,000. Total funds of US$15 million will come from Lippo Group.
With previous experience in growing mid-stage companies in their previous fund, Venturra Discovery aims to share guidance, insights and apply that knowledge to grow early-stage companies. To date, Venturra Discovery has backed three (soon to be four) companies, coming from healthcare, consumer, enterprise enabler, and incubator.
“It’s going to be a sector-agnostic fund and a thematic fund as well. We will sit down and talk every month to think what’s the next big thing,” says Venturra Discovery partner Raditya Pramana.
He said that the firm is looking for entrepreneurs or founders who are passionate, persistent, have the will to keep trying new things, and the ability to inspire.
Ventura Discovery will be run by three partners, Raditya Pramana, Rudy Ramawy (ex-founding CEO of Google Indonesia), and Lippo Group executive director John Riady. Stefan Jung and Tee Plern Suraphongchai will sit on the Advisory Board of Venturra Discovery, while managing Venturra Fund I.