VC Fund Accelerating Asia's 36 Startups raises collective US$27M till date
Its startups may now receive up to US$250,000 investment.
VC fund Accelerating Asia has raised a total of US$27m, approximately S$36.2m, from its 36 high-growth startups.
Accelerating Asia also announced that it will be increasing its investment amount with startups now eligible to US$250,000 from only $150,000 previously.
The VC firm added 11 new startups to its portfolio in 2021, and injected follow-on funding into portfolio companies, including India-based, ProjectPro, agritech/fintech company iFarmer and Numu.
“We worked closely with each startup on their product strategy, fundraising and growth during and after the 100-day program,” Accelerating Asia Co-Founder and General Partner Craig Bristol Dixon said.
“Their potential for continued growth and expansion is evidenced by their ability to raise capital from highly respected investors that Accelerating Asia introduced them to.”
Across the portfolio, startups that completed the flagship accelerator programme in 2019 and 2020 have almost tripled monthly recurring revenue to US$27,000 in 2021, up from over US$9,000 at the start of the programme.
The graduating startups in Cohort 4 are also on track to deliver impressive results, with startups gaining market share and traction among investors.
Cohort 4 startups raised US$5m, on top of the US$1m worth of soft commitments. This brings the total capital to US$6m, raising the amount to 70% of the startups’ collective fundraising goals in the past 100 days.