Vickers Venture Partners’s Chairman Dr. Finian Tan

Vickers Venture Partners raises US$200M for its Fund IV

Global venture capital firm Vickers Venture Partners has received commitments amounting to US$200 million (excluding General Partner commitments) for its fourth fund, which ha a target of US$500 million.

“With Fund VI, we are extremely excited to continue investing globally in deep, disruptive technologies that are creating solutions that are more inclusive and sustainable for societies around the world,” said Chairman Dr. Finian Tan said.

Some of the VC firm’s portfolios are cleantech startup Eavor, biotech firm RWDC Industries, and T-cell focused vaccine company Emergex, which is working on developing safe and effective vaccinations against COVID-19 and a range of other prevalent infectious diseases.

Trucking marketplace Kargo secures investment from Coca Cola’s VC arm Amatil X

Indonesia-based trucking marketplace startup Kargo Technologies has reportedly secured an investment from Amatil X, the VC arm of Coca Cola Amatil, according to a report by DealStreetAsia. A year ago, Kargo raised US$7.6 million in a seed funding round led by Sequoia India, with participation from Uber Co-founder and former CEO Travis Kalanick’s 10100 Fund.

Amatil X had said in an interview last year that it would invest up to US$2 million in each of its potential investees. This would be Amatil X’s first investment in Indonesia.

Also Read: Indonesian logistics startup Kargo raises US$7.6M in seed funding round

Kargo connects commercial shippers with truckers across Indonesia. Its platform allows shippers, transporters, and truckers to connect, transact and track shipments in real-time.

Kargo was co-founded by Tiger Fang, who served as the former GM for Uber in Western China before taking charge of its Indonesia operations. Fang and his business partner Yodi Aditya teamed up to build the new venture but decided to keep the name to retain the older startup’s quarter of a million monthly website visitors.

East Ventures launches Indonesia Pasti Bisa, bringing its portfolio to support the production of 100K COVID-19 test kits

With almost 900 cases of infection announced in Indonesia, the country still lacks test kits availability to contain the spread of the COVID-19.

Nusantics, a deeptech startup in the field of genomic and one of East Ventures portfolio company, is currently developing a test kit to detect COVID-19 infection as a member of the Technological Research and Innovation Task Force for COVID-19 under Indonesia Technology Assessment and Application Agency (BPPT).

In the next three weeks, Nusantics will use the company’s resources and capability in the field of genomics to develop a qPCR test kit that is designed specifically for the Indonesia population, committed to produce 100 test kit prototypes and continue with mass production of 100,000 test kits.

At the same time, Nusantics also plans to run whole genome sequencing to profile the SARS-CoV-2 virus genomic. Genomic mapping is essential because the virus is continuously mutating to adapt to its host and environment.

In supporting the initiative, East Ventures launched Indonesia Pasti Bisa as a platform to mobilise the company’s digital ecosystem in supporting Nusantics and BPPT Task Force efforts. The company will leverage its network to establish a collaboration against COVID-19 epidemics.

Also Read: Morning News Roundup: Chilibeli raises US$10M, gojek denies staff layoff and Grab merger reports

As a start, East Ventures will lead fundraising targeting an amount of US$629,000. The fund will be used to produce 100,000 test kits (US$569,000) and finance the whole genome sequencing project (US$63,000).

The public can participate in this movement by accessing to donate money, equipment, or skill. Crowdfunding will start on Monday, March 30, 2020, at 9 AM local time.

Joining the movement are fintech company KoinWorks, as an accountability partner to provide and manage the crowdsourcing platform. The fund will be disbursed directly to vendors providing materials and equipment for the project, and audited by an independent third party.

IDN Media will be involved as a transparency partner. Progress and result of the project will be published weekly.

Co-founder and Managing Partner East Ventures Willson Cuaca said, “We were informed about Nusantics involvement in BPPT task force on Sunday, March 22. The news makes us want to do more to mobilize our digital ecosystem to support them. Each of East Ventures portfolio companies has various expertise in different industries. By taking a small part of that expertise, we are able to create an innovative platform, Indonesia Pasti Bisa.”

New Energy Nexus Indonesia introduces 6 startups for a second incubation programme

New Energy Nexus Indonesia, a local unit of California-based non-profit firm, has launched the second batch of its incubation and acceleration programme, DealStreetAsia has reported. The firm has chosen six startups that focusses on the renewable energy sector, and cover the Internet of Things (IoT), digitalisation, and energy access, energy efficiency, clean energy, and business model innovation.

By being in the programme, the startups will receive coaching, followed by US$4 million in seed round funding to help get their products and services to the market.

The six startups are Vena Energy, Swadesi Surya Persada (SUPER), Chakra Giri Energi Indonesia, Enertec Mitra Solusi, Energi Persada, RESCO Sumba, Forbetric, and Warung Energi.

Since 2018, there are at least 19 startups that have participated in the Nexus New Energy incubation and acceleration program, with five startups graduating in November 2019.

KK Fund launches Meet your Match Thailand

KK Fund, a Singapore-headquartered seed-stage VC fund, is launching its first Meet your Match Thailand ​session, an initiative to match investors to Thailand-based startups in light of the uncertain situation due to the COVID-19 virus.

In order to support the startup ecosystem, KK Fund has signed up more than 20 investors to participate in this initiative to connect Thailand startups with potential investors online. For the first “Meet your Match” session, KK Fund is focussing on the Thai Startups.

Also Read: Burda Principal Investments sets up Singapore office, will make Series B investments in SE Asia

Some of the investors joining the programme are 500 TukTuks, Beacon Ventures, Burda Principal Investments, Cyber Agent Capital, Golden Gate Ventures, Insignia Venture Partners, Krungsri Finnovate, Monk’s Hill Ventures, Sequoia, and more.

The programme is welcoming applications starting from today at 12 pm Thai time to April 10, 2020 at 12 pm local Thai time. Upon successful matching, an online session over Zoom will be arranged by the investor with the startup.

Picture Credit: Vickers Venture Partners

The post News Roundup: Indonesia’s Kargo raises funding from Coca Cola’s VC arm; Vickers Venture raises US$200M for Fund IV appeared first on e27.