Openspace Ventures Closes Third Fund, at US$200M

Openspace Ventures

Openspace Ventures, a Singapore-based venture capital firm, closed its latest fund, Openspace Ventures III, L.P., at US$200m.

Limited partners include Temasek, StepStone Group, Sofina, DEG, Norfund, US-based 57 Stars and Mizuho, a global bank headquartered in Japan, as well as sovereign wealth funds, pension funds, university endowments, and insurance companies. Openspace now manages committed capital of US$425m across three funds.

Established in 2014 by Shane Chesson and Hian Goh, the firm has made 33 investments across key sectors including logistics, fintech, agtech, edtech, healthtech, cleantech and B2B SaaS. Selected leading companies invested at Series A include Halodoc (health – Indonesia), Kumu (consumer tech – Philippines), TaniHub (agtech – Indonesia), Finnomena (fintech – Thailand), FinAccel (fintech – Indonesia), Gojek (transport, logistics, fintech – Indonesia) and Biofourmis (health – Singapore/US).

Openspace has offices in Bangkok, Jakarta and Manila, and is in the process of setting up an office in Ho Chi Minh City. The team also includes Jessica Huang Pouleur, who joined Openspace as Executive Director in 2020 to lead OSV+, the firm’s first growth fund targeted at mid-stage tech opportunities in the region. In September 2020, the firm also added Aristo Setiawidjaja as Senior Advisor – Indonesia.