Southeast Asia’s early-stage startups are now able to go to another source for funding as Iterative Capital, a Singapore-based venture capital firm that operates a YC-style accelerator program, has officially announced that they have raised $55 million for its Fund II from LPs like Cendana, K5 Global, Village Global and Goodwater Capital.
Additional participants include Dropbox co-founder Arash Ferdowsi, Bukalapak co-founder and former CEO Achmad Zaky, Andreessen Horowitz general partner Andrew Chen, former YC COO Qasar Younis, former Foursquare CEO David Shim and Airbnb Asia head Kum Hong Siew, according to TechCrunch.
With the new funding, Iterative can now issue checks up to $500,000 and add even more programs for founders at a variety of stages, including one specifically for earlier-stage founders who aren’t quite ready for an accelerator as well as later-stage founders who have already established strong traction.
The company plan is to invest in 100-plus companies at more stages, including pre-seed, seed and Series A startups.
“More concretely, we run weekly office hours, group office hours, speakers and workshops with our visiting partners, have a scaled-out fundraise bootcamp program, a built-out network to automate white-gloved introductions to investors and 450+ investors engage with our startups at our demo days,” Iterative co-founder and general partner Brian Ma said.
“Some of the most important work actually happens post-cohort, where we help alumni companies deal with negotiating their A’s or B’s, deal with scaling their organizations and help coach them through co-founder issues and other growing pains.”
