Journey Capital Partners (JCP) has launched its debut venture capital fund to invest in early-stage tech startups in Indonesia, Singapore, and Thailand.
The newly established firm was founded earlier this year and led by Weng Kin Choo as managing partner of investments.
Choo was previously a VP at Provident Growth, an investment firm that backs numerous Southeast Asia prominent tech companies including GoTo, Traveloka, and Pomelo.
Other key members of the firm are managing partner of strategy and operations Lloyd Lin and managing partner of investments and technology Ashok Palaniappan.
JCP is backed by a number of local conglomerates, family offices, and tech companies in the region including Yggdrazil Group Plc, a Bangkok-listed company focusing on visual effects, animation, and gaming. With its strong base and partnership in Thailand, the firm also aims to foster cross-border expansion of Indonesian and Singapore tech firms to Thailand.
“Journey Capital Partners is proud to have partners in Indonesia and Thailand which can provide strategic advantages to our portfolio companies.” Choo said in an interview with DealStreetAsia. “We’ll focus on supporting tech companies with proven product-market fit and business models.”
JCP concluded its first investment earlier this month into Indonesia’s food and beverage startup Hangry. Choo declined to comment on the fund size but said the firm will invest between $3-8 million in each startup.
DealstreetAsia recently spoke to Choo about JCP’s investment strategy and Southeast Asia’s startup landscape.
Edited excerpts from the interview:
