TLDR:
- Singapore-based Genesis Alternative Ventures has raised $125 million for its second venture debt fund, with over 80% of investors returning from Fund I.
- New investors in Fund II include Mizuho Bank and OurCrowd, and the firm has also announced a collaboration with Indonesia’s Superbank.
Singapore-based venture capital firm Genesis Alternative Ventures has raised total commitments of $125 million for its second Southeast Asia-focused venture debt fund. The fund, which includes over 80% of investors from Fund I, welcomes new investors such as Mizuho Bank and OurCrowd. In addition, Genesis has announced a collaboration with Indonesia’s digital-focused bank, Superbank, to provide venture debt to promising technology start-ups in Indonesia.
Philip Yeo, former Chairman of Singapore’s Economic Development Board, has joined Genesis’ Advisory Board, bringing valuable experience and insights to guide the firm’s growth and future strategies. Genesis’ Co-Founder and Managing Partner, Jeremy Loh, highlighted a shift in start-up profiles towards leaner structures and profitability. The firm has already deployed venture loans of over $20 million to promising start-ups in various Southeast Asian countries.
Yasuhiro Kubota, Managing Executive Officer of Mizuho Bank, Ltd., expressed confidence in the partnership with Genesis, aiming to accelerate the growth of promising firms in Southeast Asia. Genesis extends debt to revenue-generating companies backed by venture capital funds, filling a gap for start-ups that do not qualify for traditional bank loans. The firm, founded in 2019, is a leading private lender to venture and growth stage companies in Southeast Asia.
