Asian news portal with a focus on tech startups, Tech in Asia today announced the third part of its Series B round with Fenox Venture Capital leading the investment. According to the official press release, the Silicon Valley-based investor is looking to expand its Asian portfolio.
Tech in Asia, formerly known as Penn Olson, first closed its seed round in 2011 with East Ventures. In early January this year, the media company also announced its second round of funding, led by Russia-based Simile Venture Partners. With a presence in Indonesia, Singapore, Vietnam, the Philippines, Thailand and China, its founder and CEO Willis Wee said that he is certain they “will grow expeditiously” with the investor’s connections and experience in building international startups.
It seems that we can look forward to more of Fenox VC in the region. Previously, it also invested in UrbanIndo, an online real estate marketplace based in Indonesia. General partner of Fenox VC, Anis Uzzaman added,
“As for Fenox, this investment marks the first of many as part of our focus in the region.”
In addition to their day-to-day news coverage of the tech scene, Tech in Asia also hosts Startup Asia, a biannual two-day tech and business conference. It also organizes “grassroot sessions held in various Asian cities” with its monthly Tech in Asia Meetups. These events often look to forge better relationships between readers, founders and investors both locally and regionally.