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Amsterdam-based Orient Development Ventures, an funding agency, introduced on Thursday that it has introduced the closing of its second fundraising for its second fund — Orient Development Fund II, at $90M (roughly €83.7M).
Orient Development Fund II is backed by present and new Restricted Companions (LPs), together with European high-net-worth people, (tech) entrepreneurs, and household workplaces throughout Europe and Singapore.
With Fund II, The Dutch funding agency will proceed to deal with deciding on top-tier enterprise capital managers in India and Southeast Asia.
The Orient Development Fund II is considerably bigger than its predecessor, Orient Development Fund I, which raised $25M (roughly €23M) in 2020.
The Orient Development Fund II was efficiently raised because of the financial resilience in India and Southeast Asia, pushed by beneficial demographics, socioeconomic tendencies, and growing digital adoption.
“The closing of our second fund demonstrates the numerous confidence amongst our buyers within the potential of Indian and Southeast Asian markets and the promising alternatives that they current”, says Ricardo Bun, Managing Accomplice at Orient Development Ventures.
Orient Development Ventures: Targeted on funding the following wave of innovation
Based in 2019, Orient Development Ventures is a Netherlands-based enterprise capital agency that specialises within the choice of technology-focused enterprise capital funds in Southeast Asia and India.
The VC agency goals to bridge the hole between European buyers and the Indian and Southeast Asian VC ecosystem, supporting revolutionary younger tech(-enabled) firms within the area.
Up to now, Orient Development Ventures has backed over 20 funds from Indian and Southeast Asian VCs, together with TNB Aura (SG), Jungle Ventures (SG), Blume Ventures (IN), AC Ventures (ID), AVV (VN), and Foxmont Capital Companions (PH).
Rinze Verbeek, Managing Accomplice at Orient Development Ventures, says, “This closing additionally reveals the boldness amongst our buyers in our technique and our potential to determine and capitalize on these alternatives. Evidently, we’re very grateful for his or her continued assist alongside the way in which.”
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