It seems that there is no lack of venture capital when it comes to emerging markets such as India and Southeast Asia, where investors are bullish about the potential billion-dollar disruptive technologies that will come out of those ecosystems.
Meet Teruhide Sato, the Founder and former CEO of Japanese e-commerce conglomerate Beenos. After stepping down as CEO of Beenos in December 2014, Sato has started Beenext Pte, a Singapore-based firm to manage a US$60 million fund for tech companies in India and Southeast Asia, according to Bloomberg.
Beenext will put money into “Internet and mobile technology companies” in the aforementioned two markets.
In the Bloomberg article, Sato spoke highly of entrepreneurs in India, saying that it is a “country where entrepreneurs will increasingly lead by using innovative technologies to help solve issues such as power shortages and a lack of solid social infrastructure”.
It should also be noted that India and Southeast Asia are markets that are receptive to foreign venture capital; a CB Insights report noted that in India alone, out of 10 most active tech venture capital firms in India, half of them are foreign-based companies. Southeast Asia is also home to many investments made by foreign venture capital firms, including GREE Ventures, CyberAgent Ventures and 500 Startups.