Hatcher+, a Singapore-based data-driven venture investment platform, has raised US$3.5 million in funding, led by Taizo Son’s (brother of SoftBank Chairman Masayoshi Son) Mistletoe group, ahead of the upcoming launch of its US$125 million data-driven VC fund.
The funds raised will be used to expand Hatcher+’s research and development (R&D) efforts, and further develop its global co-investment network.
The proposed US$125 million fund will be used to make a series of Artificial Intelligence and Machine Learning (ML)-assisted co-investments into early-stage companies in partnership with leading accelerators, angel groups, and investors, worldwide.
“This investment caps two years of intensive R&D, and is a strong endorsement of our data-driven strategy. We now have the technology, the data, the backing, and the partners we need to execute,” Hatcher+ Co-founder and Partner John Sharp said.
Hatcher+ will use proprietary research gained from its analysis of over 300,000 early-stage investment events across 745 leading venture firms and accelerator groups — in conjunction with dynamic data obtained from its partnerships with leading accelerators — to enable high-potential venture investments to be identified at an earlier stage.
Hatcher+ Partner and former Bankrate SVP/CTO Dan Hoogterp believes the Hatcher+ model will simultaneously reduce the risks associated with venture investments and level the playing field for new investors coming into the start-up ecosystem.
“Within ten years, venture investing will come to resemble the stock market – data will be available on every deal, regardless of sector, stage, or geography, and liquidity will be measured in minutes, not years,” said Hoogterp. “Going forward, we believe that successful investors will begin to place greater reliance on the use of data in conjunction with emerging technologies, such as AI and ML.”
Taizo Son, who has invested in over 50 startups, said Mistletoe is on a mission to revolutionise the startup ecosystem, and make fundraising more transparent, and available to entrepreneurs. “We are on a mission to make the system that funds entrepreneurs more transparent. We believe that the Hatcher+ data-driven system will help us achieve that goal and going forward, this will make funding more achievable on the basis of merit for new entrepreneurs.”
Son’s Mistletoe has been quite active in the Southeast Asian and Indian startup ecosystem for the past few months. In October last year, the VC firm led a US$2.5 million in a financing round in InnerChef, a Big Data-based food discovery and delivery startup in India.