Singapore-based VC Jubilee Capital Management has announced the launch of its new fund Jubilee Tech Fund (JTF) with an initial kitty of US$30 million. It plans to raise a total of US$100 million for JTF.
The fund will focus on providing post-seed and Series A funding to early stage startups. It aims to help China-based startups crack international markets including Silicon Valley, and enable global startups to enter the Chinese market. One particular area of focus for JTF would be building a bridge between Israel’s and China’s tech ecosystem.
“We see more and more Chinese investors going to Israel to scout for new technology to invest, or procure for the China market,” said Gan Fong Jek, founding partner of Jubilee Capital Management, said in an official press release.
“We also see more Israeli entrepreneurs more willing to switch their market interest from America to Asia including China and ASEAN. Being headquartered in Singapore, we see an opportunity for Jubilee Capital to position ourselves as a bridge between outbound Israeli technology start-ups who are interested to enter Asian markets,” he added.
Aside from Singapore and Beijing, the VC also has a presence in Auckland, New Zealand.
Gan, a senior venture capitalist who has worked with Temasek-owned companies in Singapore, is joined by two other founding partners: Stanley Zhang, who is Founder of Chinese internet provider HiChina, which was acquired by Alibaba in 2013; and George Gong, Co-founder of Shenzhen stock exchange-listed enterprise software service provider, Beyondsoft.
Image Credit: Jubilee Capital Management