#Fundlaunch is your quick summary of notable fund launches for startups. This segment includes announcements on funds launched by KK Fund, DCM Ventures and the British Council.
KK Fund Makes First Close of Its Second Venture Fund
KK Fund announces the first close of its second VC fund, the target size is undisclosed. The company is planning to utilise the raised fund to invest in early stage startups in Southeast Asia, Hong Kong and Taiwan, with average ticket size of $400,000-$500,000.
KK Fund was founded in 2014 by Kuan Hsu and Koichi Saito. The fund will focus its investments in Marketplaces, Fintech, Logistics, Media and Entertainment. Read More
British Council Launches $74K Seed Fund in India
British Council India is launching a $74,000 cultural innovation fund to promote cultural exchange between the two countries. Under this, five projects will be selected for seed funding of around $15,000 each by the end of July 2016. In order to be eligible to apply for this fund, participants must be based in the UK or India and have a track record of developing new digital projects. Read More
Global Investment Firm DCM Raises $500M for Investing in Early Stage Startups
DCM Ventures, a global early stage venture firm has closed $500 million in its eighth early stage fund, DCM VIII. The current fund will be used for making significant investments across sectors including digital media, fintech, eCommerce, virtual reality, drone technology and artificial intelligence.
The firm has also raised additional $170 million for investment in late stage companies. DCM has portfolio companies primarily based in US, China & Japan and has returned $1.5 billion to its investors over the last 3 years through successful exits. Read More
Image Source: KK Fund