The VC seeks ‘third wave’ startups that actively take-on incumbents in the biggest industries
K2 Global, a Venture Capital firm with its headquarters in Silicon Valley and Singapore, announced today it has closed a US$183 million fund with the primary goal of “bridging Asia and Silicon Valley to create impact on a global scale.”
The VC was the lead investor in Paktor’s US$32.5 million funding from October 2016. It also is an investor in India’s Paytm — which recently crossed the 150 million user mark.
Western companies in K2’s portfolio include Magic Leap, Spotify, Twilio, and Uber.
The firm was founded in 2015 by former Startup/VC lawyer Minal Hasan and Ozi Amanat (who gained recognition for selling a block of Alibaba shares to wealthy Asian families that ended with returns of 48 per cent on the IPO-day closing price).
K2 Global pitches itself as being particularly well-positioned to bring American companies in the the Asian markets while equally helping Asian companies compete on a global scale. While many factors contribute, Paktor has made an aggressive push to globalise its company since the funding last Fall.
The VC stresses that its advantage is the fact that it has operational and investment teams ‘on the ground’ in both Silicon Valley and Asia (highlighted by its dual-HQ status).
“We are seeing a universal convergence of ideas, markets, economies, and technologies, resulting in companies expanding into international markets much more rapidly than before due to the explosion of Internet and mobile technology,” said Hasan in a statement.
“K2 Global’s unique mix of expertise and deep understanding of key global markets enables our team to punch above our weight and win deals over larger and more prominent VC firms,” she added.
K2 Global also said it wants to work with “third-wave” startups — defined as companies that actively challenge incumbent players in major industries. The strategy for accomplishing this goal is to build alliances to create impact at scale.
“I have seen the inner workings of so many successful, and some failed, tech start-ups from nearly every angle — engineering, marketing, investing, and law. I was tired of sitting on the sidelines,” said Hasan.
“The tech industry is my tribe. I wanted to be an entrepreneur and actively help other entrepreneurs by leveraging my experience and resources.”
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