Betatron Venture Group announces first close of its US$50m Emerging Asia fund

Betatron managing partners Matthias Knobloch (left) and Arshad Chowdhury / Photo credit: Ben Kostrzewa

Betatron Venture Group is today announcing the first close of US$15m of its fourth fund, BVG IV, to invest in asset-light, B2B tech companies across Asia (excluding Mainland China).  

BVG IV will ultimately raise US$50 million to digitize Asia’s largest industries, including logistics, healthcare, commerce and construction. The fund will invest in startups operating in India, the Philippines, Bangladesh, Pakistan, Vietnam, Hong Kong and Singapore - markets where SaaS adoption rates are growing fastest globally. 

The fund will make initial investments between US$500k and US$2m in Seed to Series A rounds with the ability to make follow-on investments. 

“Strong investor interest in our new fund allowed us to upsize the first closing by 50% within only a few weeks of taking subscriptions,” says Managing Partner and CEO Matthias Knobloch.

The fund credits an exceptional track record for its speedy first close despite a challenging overall market backdrop. 

Having made its first investments in 2017, Betatron Venture Group’s portfolio today includes 47 companies. In the past year, Betatron delivered two exits and is currently working on its third. Portfolio companies which closed funding rounds recently include Phable, India’s number one medical platform for treating chronic diseases, and TruckLagbe, Bangladesh’s largest platform for booking trucks. Phable recently raised $25 million in its Series B, while Truck Lagbe’s Series A was led by IFC. 

“We’re funding companies just when they’re poised to scale,” says Managing Partner Arshad Chowdhury. “The typical Betatron portfolio company has meaningful traction, strong unit economics, a competitive advantage, and capable leadership. We’re not investing in deep tech or experimentation; we’re funding strong teams with an aggressive sales force that can become market leaders. Our capital is fuel for growth.

”BVG IV’s first investments include 24Seven, which is digitizing FMCG and fresh food delivery in Pakistan, and 91SquareFeet, which makes retail expansion faster, easier and cheaper in India. Both companies have seen double-digit month-on-month growth for the past two quarters. 

During its due diligence process, the fund considers whether companies can adapt to challenges related to climate change. The fund became carbon neutral in 2020, making it one of the first VCs in Asia to do so.

Betatron Venture Group is licensed and regulated for Type 9 activities, asset management, under the Securities and Futures Commission (SFC) in Hong Kong.