Revolution Precrafted has entered into a formal agreement with Central Country Estate, Inc. (CCEI) for the construction and delivery of $345 million worth of pre-crafted homes and retail stores in a 70-hectare prime development in Lakeshore, Pampanga.
The project, named “Revolution Flavorscapes at Lakeshore” is the world’s first livable food park which would feature pop-up stores offering cuisines from 200 countries.
The development boasts of groundbreaking amenities including a Museum of Ice Cream, Museum of Candy, A Chocolate Gallery and a Microbrewery with surrounding beer garden.
There will also be a floating restaurant, floating cinema and amphitheater situated at the banks of Lakeshore’s 12-hectare man-made lake.
Revolution Precrafted Founder and CEO Robbie Antonio said
“we will supply $115.4 million to build more than 7,100 carefully curated prefabricated homes that will soon rise on a lusH space in The Lakeshore in Mexico, Pampanga, situated at a mere stone’s throw away from an existing manmade lake.”
Antonio revealed that Revolution Precrafted expects more than $345 million in revenues from the sale of the precrafted homes and popup retail stores, to be located in strategic areas around the development, in its first phase.
He said Revolution Flavorscapes is an homage to Pampanga, which maintains its reputation as the food capital of the Philippines.
For his part, CCEI Managing Director Brian John Mangio said the master planned community will give residents the chance to experience a lakeside lifestyle, complete with a wide array of industry leading amenities.
“We are building a FamiLeisure hub, a community swimming pool, a drive-by cinema, muse-ums, spas, and sports center that will promote an active life-style,” Mangio said.
Revolution Precrafted will build and supply 48 square meter townhouses called Revolution Alcove priced at an introductory price of R1.8 million; 60 square meter single attached units called Revolution Cocoon priced at R2.16 million; and 72 square meter origin squared units called Revolution Nest priced at R2.52 million. Meanwhile, the retail pop stores will be sold R6.2 million each. The development of the property is expected to start in 2018 and will be completed in phases. Development of the master planned community and the construction of the houses is expected to be completed over three years.
In recent years, more and more young art collectors have been emerging and proving themselves to be an important part of the ever-changing art world. They have a fresh perspective, an insatiable passion for art, and are not afraid to take chances. Meet some of the most important young collectors from across the globe…
Robbie Antonio Robbie Antonio is definitely one to watch. Based in Manila, the Philippines, this real estate developer has adorned his home with an impressive collection of artworks by giants such as Jeff Koons, Damien Hirst, Francis Bacon, Willem de Kooning, Andy Warhol, and Takashi Murakami. And not only does he have a quickly expanding collection, but he also managed to convince Rem Koolhaas to take on his first residential commission in 15 years!
Emma Hall Emma Hall’s parents are big-time art collectors Andy and Christine Hall, and it is clear that she takes after them. She started out in the art world by working at Christie’s, Sotheby’s, and Haunch of Venison. Now she is in charge of special projects and communication at the family museum (the Hall Art Foundation, featuring work by Joseph Beuys, Anselm Kiefer, and Georg Baselitz).
Amar’e Stoudemire Amar’e Stoudemire is a basketball player for Miami Heat with an additional passion for the arts. He is a dedicated collector who already boasts an impressive collection with works by artists like Andy Warhol, Jean-Michel Basquiat, Rob Pruitt, Retna, and Hebru Brantley.
Daniela Hinrichs Daniela Hinrichs is a German curator, art dealer, entrepeneur, and also the founder of DEAR Photography, an online commerce platform with which she aims to help artists and inspire new collectors. “Discovering that many artists cannot earn a living from the sale of their works had a profound impact on me. Added to this, the traditional collector demographic is in the process of dissolving. Growing numbers of very good artists can no longer sell their work. It was high time for a new solution,” she says on her site.
Sheikha Al-Mayassa Al-Thani The sister of Qatar’s ruling Sheik, Sheikha Al-Mayassa Al-Thani has been declared the most influential person in the art world in Art Review’s “Power 100.” Among her impressive collection are pieces by Damien Hirst, Jeff Koons, Francis Bacon, Roy Liechtenstein, and Andy Warhol. She is also said to have been behind the record-breaking purchase of When Will You Marry? by Paul Gaugain, which went for almost $ 300 million, as well as a Rothko for $ 70 million and Cezanne’s The Card Players for $ 250 million.
Sharmin Parameswaran The Malaysian Women’s Weekly named Sharmin Parameswaran “one of the most eagerly watched art curators in the country” in the Great Women of Our Time Awards. Her father, Dato N. Parameswaran, was also an avid collector, and Sharmin is definitely proving herself to be just as passionate and successful as him. She even started Interpr8 Art Space with her father, aimed at showcasing the work of contemporary and upcoming artists. “To me, art is about asking the questions, narrating the stories and collaborating to make realities,” she said in her Women’s Weekly interview.
Fabiola Beracasa Beckman Born in Venezuela, the daughter of Hearst publishing heiress Victoria Hearst, Fabiola Beracasa Beckman is a New York-based film and tv producer, gallerist (she is the creative director of Hole Gallery), and philanthropist. She is also a board member of the Art Production Fund. Her art collection includes pieces by, among others, Matthew Stone, Genesis P-Orridge, Rob Pruitt, and Aurel Schmidt.
Michael Xufu Huang This Beijing-born collector is one of the founders of the M WOODS non-profit museum in Beijing’s 798 Art District. He started collecting as early as 16, and now, at the age of 23, he is rapidly making his mark on the art world. His goal is to make M WOODS the MoMA of China, and he is definitely making strides by featuring artists such as Tracy Emin and Ai Weiwei in the museum. His personal collection contains a lot of Post-Internet art, which he is most passionate about. In his interview on Artspace, he talks about how he is the biggest collector of Amalia Ulman’s Instagram pieces from her “Perfection and Excellence” series.
Tiffany Zabludowicz Tiffany Zabludowicz, daughter of British-Finnish mega-collectors Anita and Poju Zabludowicz, has art collecting running through her veins. Based in New York City, she, like Huang, started collecting at 16 years old, and quickly made a name for herself in the art world as a collector and curator, with experience ranging from MoMA PS1 to Artspace’s online magazine. Last year, she founded Work in Progress, an artist residency in an office in Times Square, New York.
Mohammed Afkhami Mohammed Afkhami is often named as one of the Middle East’s most important collectors. He started exploring the flourishing Iranian art scene and collecting Iranian art following the recommendation of a friend. He mainly collects Middle Eastern contemporary art, but his collection also boasts works by Anish Kapoor, Yayoi Kusama, and Richard Serra.
As developed cities in Asia grapple with ageing populations, savvy entrepreneurs are spotting opportunities to tap the silver dollar. Later this year Batulao Artscapes will complete its first phase: a retirement village to the south of Metro Manila that aims to attract overseas residents. South Korean and Japanese senior citizens are drawn to the Philippines and Batulao Artscapes assists with retirement visas as part of the package. The company behind the project, Revolution Precrafted, was set up two years ago by Jose Roberto “Robbie” Antonio and offers prefabricated homes designed by international architects. When finished, Batulao Artscapes will feature more than 6,000 properties alongside four museums – one of which will be designed by the Pritzker prize-winner Jean Nouvel, French architect of the Louvre Abu Dhabi. Revolution Precrafted is working with Philippine property developer Century Properties, which was set up by Antonio’s father and recently completed another landmark associated with a gilded senior citizen: Trump Tower Manila.
A mountain range on the outskirts of Manila may be the last place you’d expect to find a world-class art museum, let alone four. But property magnate Robbie Antonio is determined to make his latest development, Batulao Artscapes, a must-see destination in Southeast Asia
ABOVE Robbie Antonio (Photo: Courtesy of Revolution Pre-crafted)
The recently announced Batulao Artscapes, located at the foot of the Philippines’ Mount Batulao, will be home to four themed museums designed by four different architects, all of whom are Pritzker Prize laureates:
There’s the Revolution Museum for Design and Architecture by Christian de Portzamparc (who designed Cité de la Musique in Paris), the Revolution Museum for Visual Arts by Jean Nouvel (who designed the Louvre Abu Dhabi), the Revolution Museum for Art and Technology by US-based Philip Johnson/Alan Ritchie Architects, and the Revolution Museum for Performing Arts by Japan’s Tange Associates.
Robbie Antonio, an avid art collector and founder and CEO of Revolution Pre-crafted—a start-up for prefabricated designer homes—is the mastermind behind the US$1.1 billion project, which he calls “the world’s first live-in art park”.
“For Batulao Artscapes, I was inspired by Naoshima which, in my opinion, is one of the most remarkable art and architecture destinations in the world,” he says, referring to the island in Japan known for its contemporary art museums, mostly designed by another Pritzker Prize-winning architect, Tadao Ando.
Antonio adds: “There’s also Inhotim in Brazil (a public contemporary art park within a 5,000-acre jungle). These spots around the world have become cultural meccas, so I thought, what if we could create a similar project, but this time, giving people the option to live there? Batulao Artscapes is a place where you can enjoy the cool mountain air in your prefabricated weekend home, and see world-class art in a Jean Nouvel museum without having to go to the Louvre Abu Dhabi.”
Another major attraction of Batulao Artscapes is its residential offerings. Those looking for chic weekend retreats or retirement properties can consider prefab designer homes by Berlin’s Studio Libeskind, French-Brazilian architect Elizabeth de Portzamparc, Pelli Clarke Pelli, LA-based Marmol Radziner, style icon Daphne Guinness and even rock star Lenny Kravitz. Plans also include sports facilities, a floating chapel, and a man-made lake and beach.
ABOVE An artist’s interpretation of Batulao Artscapes (Photo: Courtesy of Revolution Pre-crafted)
Antonio’s idea for Revolution Pre-crafted, the Philippines’ first unicorn startup, came about after he commissioned renowned Dutch architect Rem Koolhaas to design his home in the Philippines. He realised there was a wealth of opportunity in working with award-winning architects to create upscale, yet easily accessible living and commercial spaces, similar to how high street brands were collaborating with high fashion designers.
By this time, he had amassed quite an art collection, including works by Francis Bacon and Jeff Koons, even commissioning portraits from Julian Schnabel, Damien Hirst, Takashi Murakami, and David Salle.
“For a while, I really followed the circuit. Modern contemporary artists like Bacon and Pollock are my favourite, but right now I’m also looking at the masters, like Delacroix, Rubens, and Goya.”
ABOVE Eden by Marcel Wanders (Photo: Courtesy of Revolution Pre-crafted)
In the last two years, Antonio has made “prefabricated” a real buzzword in the property development arena. Since he started Revolution Pre-crafted in 2015, Antonio has made headlines by successfully enlisting more than 30 of the world’s star architects—including Marcel Wanders and Zaha Hadid Architects—to work on his ambitious prefab projects, ranging from cutting-edge homes to pavilions, pop-ups, and restaurants.
With the first phase of Batulao Artscapes underway, Antonio’s team hopes to get at least two of the museums open by the time Art Basel Hong Kong comes around in 2019.
“We want visitors to the show to include us in their itineraries. The plan is to have an internationally curated collection together with commissioned work, host gallerists and to juxtapose local with international artists. Why not have a Poklong (Anading) next to a Basquiat, right?”
Mount Batulao, famous for its easy hiking trails and breathtaking views, is a 90-minute drive Manila, and a stone’s throw from Tagaytay, a popular weekend getaway.
On a building site about 50 miles outside the Philippine capital of Manila, construction is underway on a completely new 346-acre town. But much of the work is taking place elsewhere. In fact, most of the 6,000 homes in the development, called Batulao Artscapes, will be prefabricated — built in factories and then transported to the site.
Expected to complete by 2020, the masterplan comprises 12 different styles of home set across four “villages.” Prospective residents can choose from prefabs designed by notable creatives, from artist David Salle to the musician-turned-interior-designer Lenny Kravitz.
But given that modular homes were initially created to deliver affordable housing — quickly and at volume –what can an entire town of designer prefabs offer that conventional settlement can’t.
A different model
For Dutch designer Marcel Wanders — whose “Eden” house is being made available in Batulao Artscapes — a large-scale approach makes prefabs more viable for both designers and buyers.
“The problem with prefab housing is that while you can buy the house and build it quickly, you have a lot on your plate,” he said in a phone interview.
“You still need electricity, water, sewage — it needs a lot of stuff. We’d basically be creating half a product. So I thought, ‘Why wouldn’t we make a prototype for a developer (who can) build and sell the houses?’
“Now you can have a prefab house that has everything you want — electricity and so on — that is organized by the developer.”
Renowned as an interior and product designer, Wanders was initially approached to work on the garden design at Batulao Artscapes. The Eden houses marks his first venture into prefab design.
The Dutchman’s glass-walled houses come in three distinct styles. Inhabitants are able to customize their purchase with different color schemes and finishing materials. And while the homes will be constructed in a factory, they were designed with the Philippine climate in mind.
Filipino industrial designer Kenneth Cobonpue has made his prefab duplex available to prospective residents at Batulao Artscapes. Credit: Batulao Artscapes
“They have these two big colonnades which are there to keep the roof up — but they also turn the outdoor space into an indoor space,” Wanders said. “In the Philippines, the outside is great, but you want to be protected from the sun. So (the houses have) shading and roofing that makes them livable, with a big tree on the inside too.
“Behind the glass you’ll have your bedroom, a small living room and your inside kitchen. But as soon as you open the glass walls, the kitchen suddenly has an outdoor area.
“Then you have a really big home for the price of a small one.”
The economics of prefabs
This rationale may apply at the lower end of the development’s offerings — the cheapest homes are being sold for 2.5 million Philippine pesos (approximately $50,000). But with the most expensive units expected to go for 26 million pesos (over $1 million), the project also reflects a growing market for luxury prefabs.
Attitudes towards this once utilitarian form of housing are changing, according to Sheri Koones, a journalist and author of six books on prefabricated housing.
Philippine architecture and design firm Budji+Royal designed all of the houses in the Collection village, one of the first four clusters of homes to open in Batulao Artscapes. Credit: Batulao Artscapes
“It’s just a much better way of building,” she said in a phone interview. “Now, people are building not only inexpensive homes, but designer houses. The most important thing is that you can have your house more quickly. You don’t have mold and a lot of the problems that you would have with wood that has been exposed to the elements.
“When they first started building modular houses, they were very simple. But they’ve just become much more intricate. Years ago, there were things that they couldn’t do, and today they can do almost anything.”
A prefab designed by the Los Angeles-based architecture firm Marmol Radziner. Interiors were designed by Kravitz Design, a boutique firm established by musician Lenny Kravitz. Credit: Batulao Artscapes
But if customers fork out for high-end units, one of the primary benefits of prefab housing — namely lower costs — may be undermined, explained Ryan E. Smith, an Associate Professor and Director of the Integrated Technology & Architecture Center (ITAC) at the University of Utah.
“The whole game is about value creation,” he said in a phone interview.
“Whether it’s one house or thousands of units, the question is, ‘If I do more in a factory does it add value to the overarching proposition?’ If it doesn’t, then you don’t do it, rather than chasing some kind of idealism or the novelty that comes from (having a house that was) made in a factory.
An 81,000-square-foot artificial lake will be built at the heart of the Batulao Artscapes development. Credit: Batulao Artscapes
“Modular construction takes about 30 to 60 percent more material to put into the building in order to stabilize it — we’ve done that research. But the money you save in lifecycle costs — time and labor — is how you’re able to compete,” said Smith, who is also a trained architect and author of the book “Offsite Architecture: Constructing the Future.”
Nonetheless, Smith said that prefab developments on the scale of Batulao Artscapes have not been attempted “in recent times” — meaning that the sums may yet add up.
“The volume that they’re showing presents a real opportunity,” he said of the Philippine development. “This kind of (project) is rare, therefore it’s hard to tell whether they can capitalize on it and deliver on their promise.”
A ‘livable art park’
There are certainly plenty of promises being made.
In addition to high-end prefabs, Batulao Artscapes is offering extensive public art facilities designed by the likes of Pritzker Prize-winning architects Christian de Portzamparc and Jean Nouvel, the man behind the Copenhagen Concert Hall and the Louvre Abu Dhabi.
The firm responsible for the project, Revolution Precrafted, claims that it is offering people a rare chance to live in a home designed by a leading architect.
It also hopes to create a community of likeminded people, according to Robbie Antonio, the CEO of Revolution Precrafted and managing director of Century Properties, the Philippine real estate giant bankrolling the $1.1 billion project.
The detached residential unit “Tranche” has four bedrooms set across three floors. Credit: Batulao Artscapes
“(The residents will all share) the same DNA of people wanting to live in beautiful homes and beautiful structures,” he said in a phone interview.
A keen art collector who once commissioned Dutch ‘starchitect’ Rem Koolhas to design his Manila mansion, Antonio says that he was inspired by public art spaces like Naoshima, Japan’s “art island.”
“There was no real master plan for the world’s first livable art park,” he said. “To be surrounded by this (art) and beautiful homes is not present anywhere in the world.
“I’m going to personally curate everything, so that’s an integral part of the business plan.”
REVOLUTIONS call for a radical transformation in the existing order. In the local property sector, drastic change is being advocated by Revolution Precrafted, harnessing the power of technology and using precrafted technology.
“With our vision of becoming the world’s largest supplier of homes, Revolution Precrafted is using technology to reimagine how a home is built. We don’t own land, we sell globally, and our homes are built and sold within months instead of years. But more than being a disruptor in the real-estate industry, Revolution Precrafted is all about design democratization,” said Jose Roberto Antonio, founder and CEO of Revolution Precrafted, in a recent forum held in Bonifacio Global City
Adaptation II by Libeskind Design
Established in December 2015, Antonio is proud of Revolution Precrafted because it is a start-up unicorn valued at over $1 billion making it the most valuable startup in the Philippines and one of the fastest-growing companies throughout South East Asia.
Antonio walks the talks so to speak, as the company makes these designs available to everyone through Revolution Basics. In its offering, a designer-branded home will cost P1 million.
All of these products are created by over 60 of the world’s preeminent architects, artists and designers through exclusive partnerships with Revolution. The prefab concept simplifies the process and addresses pain points in traditional real-estate development by offering speed, quality, cost efficiency and accessibility, thereby drastically reducing production time
Being an innovative company, Antonio said Revolution Precrafted combines state-of-the-art technology, celebrity design philosophies and the highest quality controls at competitive prices.
The Modular Glass House by Philip Johnson Alan Ritchie Architects
“Our lives are changing. And so are businesses. Some of the biggest companies in the world today have expanded worldwide through technology. They offer a solution to a universal need—and they do it fast, affordable and user-friendly,” Antonio pointed out.
Meanwhile, Revolution Precrafted was recently tasked by the Century Properties Group (CPG) to design an active retirement village in its 142-hectare Batulao Artscape project near the foothills of scenic Mount Batulao in Nasugbu, Batangas. The world-class village will have exclusive vacation amenities, a man-made beach with clubhouse and a lake with a charming wedding chapel. Art cum adventure, or “artventure” facilities include a sports park, flavor park and art park with museums designed by Pritzker Prize-winning architects.
The project is CPG’s latest foray into the leisure and tourism segment. Of this property, Batulao Artscapes will cover the first phase of the mixed tourism development.
“This is the first project of Revolution Precrafted under the business to consumer model. It will be our litmus test,” Antonio said.
Revolution Precrafted also believes in giving back through the Revolution Foundation’s Buy a Home-Give a Home campaign.
Tranche by Budji+Royal+Architects+Design
Under the scheme, all proceeds of the sales from Revolution Precrafted will go towards the Revolution Foundation, who will be building homes for disaster-stricken areas, for quicker turnover and to provide shelter. Antonio also revealed that Revolution Precrafted is handling 17 development projects across the region.
These homes are by Revolution Precrafted, a multibranded housing company with a collection of limited-edition, precrafted properties of stunning homes, designer museums, unique pop-up concepts and cutting-edge hotels.
Three Filipino names led the roster for Batulao Artscapes’s first three villages. Architect Ed Calma’s Polygonal Successions will make up the Cluster Village. Designer Kenneth Cobonpue’s Hedera Homes will be the main feature of the Commune Village. Budji+Royal Architecture+Design of Budji Layug and Royal Pineda will fill the Collection Village with their Tranche and Facet Homes.
The fourth section, called the Curated Village 1, will feature 12 one-of-a-kind homes by international architects and designers, including David Salle + AA Studio for the “Billboard Home,” Marcel Wanders for “Eden,” Marmol Radziner & Kravitz Design for the “Instrumental Home,” Philip Johnson Alan Ritchie Architects for the “Modular Glass House,” Elizabeth de Portzamparc for the “Butterfly Home,” AFGH for Wallpaper for the “We Home,” Studio Libeskind Design for “Adaptation II” and Daphne Guinness for the “Daphne Skin Home.”
Home prices range from P4 million for a 56-square-meter unit at the Cluster Village to the larger homes at the Curated Village, which start at P17.4 million and come with their own private pool and guest home.
The limited-edition homes will be built using a combination of conventional construction methods and prefabrication, and will offer different sizes and specifications to meet individual tastes and preferences.
It will help active retirees secure a Special Resident Retiree’s Visa for foreign nationals, and former Filipino citizens will also be offered, while the public amenities of the development aim to attract art and design enthusiasts and weekend adventure seekers and families.
In the past year, Amazon has aggressively entered the Southeast Asian market, and other large technology companies have followed suit and invested heavily in the Southeast Asian market. At the end of 2017, this article takes stock of the top ten technology news in Southeast Asia in 2017, in no particular order.
THESE VCS AND INVESTORS ARE PUSHING STARTUP GROWTH IN SOUTHEAST ASIA
From transport to video streaming services, to health and fitness aggregators, to fintech companies, Southeast Asia has witnessed the rise and growth of multiple startups, including the likes of GO-JEK, Grab, iflix and KFit. According to managing consulting firm CB Insights, tech companies in Southeast Asia had raised $6.5 billion in disclosed equity funding by September of this year. With the scale and talent that the region has showcased thus far, this number is hardly a surprise. It signals the rise of VC interest in the region. No wonder the last few years have seen several new investor entrants in the market that are now paving way for a startup revolution of sorts in Southeast Asia.
SoftBank Capital
SoftBank’s eye for enduring businesses has been proven time and again across the globe. It has identified, invested in, and mentored some of the greatest brands of our times, including Yahoo, Buddy Media, The Huffington Post, BuzzFeed, Fitbit, Criteo, Zynga, and EdCast, among others. The company manages funds worth $600 million and invests in early through growth stages of startups. In Southeast Asia, SoftBank Capital has invested in names like Grab (taxi-hailing app) and PawnHero (online pawn shop), among others. Grab pulled $2 billion in funding from SoftBank and Didi Chuxing in July this year, and PawnHero raised an undisclosed amount in seed funding from the Japanese firm in April 2016.
Kejora Ventures
Based out of Southeast Asia and founded by two of the biggest names of the region’s startup ecosystem Andy Zain and Sebastian Togelang, Kejora Ventures invests in entrepreneurs and tech startups in high-growth verticals. They provide growth capital, shared infrastructure and resources, and access to relevant networks to new and existing startup founders and entrepreneurs. The Indonesian VC also built an $80 million bucket for investment in Southeast Asian firms. Beyond financial investment, Kejora Ventures has committed to educating communities in entrepreneurship skills and encouraging more individuals to take the proverbial leap. Their partnership with the ecosystem goes from the pre-accelerator stage where they train budding founders and entrepreneurs to startups in early and growth stages. Most of Kejora’s investments are focused on the Indonesian market, including names like C88 (fintech), Qareer Group Asia (HR & recruitment), Y Digital Asia (digital marketing), and Mimopay (fintech), among others.
Asia Venture Group
Asia Venture Group invests primarily in digitally scalable business models in the Southeast Asia region. Apart from co-founding four internet startups in the region across fintech, hyperlocal grocery delivery, and e-commerce verticals, Asia Venture Group has also made several early-stage investments in the region. Most of Asia Venture Group’s investments are in Malaysia, Indonesia, and Thailand. Their areas of interest include e-commerce, platforms and marketplaces, and fintech. Southeast Asian startups that Asia Venture Group has been associated with in the past include names like iMoney –which received $500,000 seed funding in June 2013, HappyFresh (hyperlocal grocery delivery), CARS24 (online marketplace), and dahmakan (received $1.3 million seed funding in collaboration with other VC players), among others.
Sequoia Capital
A US-based VC firm, Sequoia Capital has been associated with some of the biggest innovations of our times since 1972. The company has invested in the likes of Apple, Google, Oracle, PayPal, Stripe, YouTube, Instagram, and WhatsApp. That makes Sequoia’s associations go as deep as 22 percent of NASDAQ, with a total market value of $1.4 trillion. In Southeast Asia, Sequoia has been actively associated with financial services, healthcare, outsourcing, and technology verticals, much like its global portfolio. The company captured early-stage investments in some of the most successful startups in the region, including GoJek (logistics and transport, valued at over $2 billion), Tokopedia ($100 million investment into the e-commerce business along with SoftBank), KFit ($3.25 million seed funding into the healthcare startup), and Zilingo ($8 million Series A funding of the online fashion marketplace in September 2016), among others.
500 Startups
500 Startups has proven to be the region’s most active investor with its latest SEA-focused fund – 500 Durians – valued at $50 million. The company manages over $250 million in assets, with investments in 200 companies in eight countries in the SEA region alone. With its most significant investments in the technology space, 500 Startups has been associated with names like Grab (taxi-hailing app, received $5.2 million in Series A funding in September 2013), Carousell (peer-to-peer marketplace, part of a $35 million Series B funding in August 2016 along with three other VCs), and Revolution Precrafted (home and interiors, received $15.4 million earlier this year), among others.
East Ventures
Japan’s East Ventures is another reasonably active VC in the region. An early-stage investor focusing on consumer-oriented mobile and web-based services, East Ventures primarily focuses on Indonesia with a $30 million dedicated fund for Indonesian startups. To East Venture’s credit, the company has high equity in three of the six unicorns in the region, including Traveloka (flight and hotel booking engine, received seed funding in November 2012), Tokopedia (online marketplace), and Grab (taxi-hailing app).
Golden Gate Ventures
Golden Gate Ventures calls itself the bridge between Silicon Valley and Southeast Asia and invests largely in early-stage startups in the region. Since its inception in 2011, Golden Gate Ventures has invested in over 30 companies from seven countries in the region. They focus largely on e-commerce, payments, online marketplaces, mobile apps, and SaaS platforms. Golden Gate Ventures’ portfolio includes names like Carousell (peer-to-peer marketplace), Homage (elderly care, received $1.2 million seed funding in March this year), Hipvan (online home and décor marketplace; Golden Gate Ventures led a $3.3 million Series A funding round in October 2015), Codapay (fintech), Printerous (online printing services, received $1.4 million in seed funding led by Golden Gate Ventures in February 2017), WiFi Chua (community- and location-based WiFi sharing), Appota (mobile platform provider), and ServisHero (online home services, received $2.7 million seed funding in March 2016 from Golden Gate Ventures and Cradle Seed Ventures), among others.
KK Fund
KK Fund is a VC fund that invests in the seed-stage internet and mobile startups across Southeast Asia and other Asian countries. Based out of Singapore, the company has been active in successful startups in business services, fintech, education, and beauty and wellness, among other verticals. KK Fund’s growing portfolio includes names like Supplycart (B2B marketplace, received $500,000 in seed funding from KK Fund and one other VC in October 2016), Loan Solutions (loan comparison website, got seed funding from KK Fund and two other VCs in July 2015), Kaodim (home services), Hostel Hunting (student lodging marketplace, raised $500,000 seed funding from KK Fund and two other VCs in December 2015), Fabelio (furniture marketplace), EduAdvisor (courses and institution comparison portal), and Capital Bay (supply chain fintech, received $447,000 seed capital in September this year), among others.
Wavemaker Partners
Wavemaker is an early-stage VC firm headquartered in Singapore and the US. It invests in seed stages of tech-based startups in the US and Southeast Asia region. With $180 million in assets under management, Wavemaker Partners has been actively involved in startups in high-tech automation, analytics, and intelligence verticals. ACK3 Bionetics (network security), GreyLoft (real-estate brokerage, raised $1.1 million in seed funding led by Wavemaker in September 2016), GrowSari (hyperlocal grocery delivery), Eko (mobile-based enterprise communication), and CreoPop (3D Printing, received SGD 2 million in a seed funding round led by Wavemaker Partners) are some Wavemaker-backed startups in Southeast Asia.
Venturra Capital
Another Southeast Asia-focused VC firm, Venturra invests in tech-based internet businesses. Primary sectors of interest include e-commerce, fintech, marketplaces, healthcare, and education. In the past, Venturra Capital has invested in names like KFit (health & wellness), Fabelio (furniture marketplace), and Ruangguru (ed tech). KFit, a leading mobile-fitness sharing platform, raised $12 million Series A investment from Venturra Capital in early 2016. Other participants in the funding were SIG and Axiata Digital Innovation Fund. Fabelio, an Indonesia-based online furniture e-tailer, raised $2 million Series A funding led by Venturra Capital. Ruangguru, an Indonesian edutech startup, had raised an undisclosed amount of Series A funding in 2015 led by Venturra Capital.
Jungle Ventures
Singapore-based Jungle Ventures is a venture capital firm providing early-stage investments and business-building infrastructure to startups across the Asia-Pacific region. Active since 2012, Jungle Ventures has made more than 50 investments in its five-year history, also raising $120 million in two funds (SeedPlus Singapore Fund, 2015, and Jungle Ventures Fund II, 2016). In Southeast Asia, the firm has invested in startups across various diverse verticals, including Kredivo (financial services and lending, received undisclosed Series A funding in October 2017 in a round led by Jungle Ventures), Pomelo (an e-commerce and fashion marketplace, received $11 million Series A funding from Jungle Ventures and others in October 2016), and RedDoorz (business travel and hospitality, received $1 million in seed funding from Jungle Ventures and Steadfast Venture Capital in September 2015), among others.
In 2017, VC activity in Asia exceeded that in the US. Clearly, Southeast Asia’s startups and the VCs backing them paved way for this development. This leaves no doubt that the region will continue to be a hotspot for funding, VC activity, and most importantly, innovation-led startups in the coming years. Exciting times are ahead!
