Openspace was among the earliest investors in Gojek, the ride-hailing upstart that went on to become Indonesia’s most valuable unicorn, as well as Biofourmis, which uses artificial intelligence to provide personalized care. The startup last year secured US$100 million from backers led by SoftBank Group Corp., nearly tripling its valuation. Its first, US$90 million fund has returned 35.3%, according to the company.
Openspace Ventures, backed by Temasek Holdings, has closed its third Southeast Asia fund at US$200 million ($268.23 million) as the venture capital firm seeks to replicate its successes in startups across the region.
The amount boosts the Singapore-based firm’s total committed capital under management to US$425 million across three funds, co-founders Shane Chesson and Hian Goh said in an interview. Investors in the new fund include Germany’s DEG, Norway’s Norfund AS, US asset manager 57 Stars LLC and Japan’s Mizuho Financial Group Inc.
