 |
SINGAPORE and NEW YORK, April 30, 2025 /PRNewswire/ -- Cocoon Capital, one of Southeast Asia's top-performing early-stage venture capital firms, today announced the first close of its third fund, Cocoon Capital Fund III, securing USD 30 million in commitments towards a target of USD 50 million. The new fund will continue the firm's high-conviction strategy of backing the region's most promising enterprise and deep tech startups from the earliest stages, combining capital with intensive hands-on support to help them scale globally.
In a region where investor returns are hard to come by, Cocoon Capital's performance stands out. Fund I and Fund II are actively returning capital to investors and achieving a leading Distributed to Paid-In Capital (DPI) in the region. According to data insights firm Alternatives.pe, the second fund ranks among the top three performing VC funds in Southeast Asia by Internal Rate of Return (IRR). Cocoon's track record of achieving DPI across all of its funds, clearly demonstrates its winning strategy of building businesses from Southeast Asia and exiting them globally.
"We chose to avoid chasing the hype around consumer tech and the latest buzzwords like AI and blockchain," said Michael Blakey, Managing Partner at Cocoon Capital. "Instead, we are focusing on overlooked opportunities - founders solving hard, unsexy problems in enterprise infrastructure, advanced manufacturing, robotics, and healthcare. Fund III doubles down on that strategy. We're not looking to build the biggest portfolio, we're looking to build the most resilient and transformational one."
Cocoon quietly built a track record of backing exceptional founders in overlooked markets across Southeast Asia, always leading seed rounds before others took notice. This disciplined approach has enabled the firm to invest in companies that are now setting the pace for Southeast Asia's enterprise and deep tech ecosystem.
Cocoon's model is distinct from traditional early-stage investors. The firm leads every deal, takes a board seat, and implements a comprehensive 10-step diligence process that evaluates governance, technical depth, founder aptitude, and product potential even at the seed stage. Its post-investment platform, known as Cocoon Academy, provides founders with access to governance playbooks, financial fundamentals, personal coaching, and a network of domain experts and follow-on investors. With a disciplined pace of up to five investments a year, the team remains deeply engaged with every portfolio company.
The fund will continue to target pre-seed and seed-stage investments in B2B software and deep tech startups across Southeast Asia, while selectively exploring opportunities across broader Asia and Australia. Cocoon plans to invest in 20 companies over the next four to five years. Roughly 55% of the fund is reserved for follow-on investments up to Series A, allowing the firm to maintain support for its strongest companies as they scale.
"The digital transformation of traditional industries in Southeast Asia is still in its infancy," said Carol Cheung, Partner at Cocoon Capital. "We are especially excited about backing founders using technology to modernise sectors long underserved by innovation - whether that's to optimise industrial processes, combat climate change, improve healthcare outcomes, or reshape financial infrastructure. These are long-term problems that require long-term partnerships, and that's what Cocoon is built for."
With its portfolio companies now emerging as leaders in enterprise and deep tech, Cocoon's investment continues to validate its thesis. Deep tech companies, such as Aprisium, which enables micron-level industrial contamination detection, and Augmentus, an industrial no-code robotics reprogramming platform now being used by leading manufacturers worldwide, exemplify how local startups are building globally competitive solutions. Other investments include TransTRACK, a fleet optimisation and logistics platform; BuyMed, one of Vietnam's leading digital pharmaceutical distributors; and Shomvob, a Bangladesh-based job-tech platform improving access to employment and embedded financial services.
"These founders aren't just building regional plays," said Zongxi Sia, Investment Director. "They're solving universal problems with Southeast Asia as their launchpad. Whether it's reducing emissions from manufacturing or improving access to healthcare, these companies are positioning themselves to scale globally from day one."
Fund III's first close of more than half of the target includes a significant number of returning limited partners (LPs), many of whom have increased their commitments, as well as new LPs from across Asia, Europe, and North America. Investors include institutional capital providers, successful founders, and family offices. The strong number of returning investors underscores continued confidence in Cocoon's disciplined, high-engagement model and its track record of generating both returns and impact.
"In today's challenging fundraising environment, it's rare to find a firm like Cocoon," said Gregoire Baudin, a returning investor. "Their ability to identify and nurture deeply technical companies solving critical challenges, and to actually deliver real cash returns, makes it an easy decision to continue supporting them. LPs have seen Cocoon's exit strategy work, with DPI achieved across multiple funds."
"We're building a fund that delivers more than returns," added Blakey. "We're helping build companies that matter - companies that survive downturns, reshape industries, and set new standards for what innovation in this region can achieve."
Cocoon Capital Fund III will remain open to new commitments until its final close, targeting USD 50 million in total capital.
ABOUT COCOON CAPITAL®
Cocoon Capital® is a Singapore-based venture capital firm focused on early-stage investments in enterprise software and deep tech across Southeast Asia. Founded in 2016, Cocoon has more than USD 90 million assets under management and has made over 30 investments to date. The firm backs companies building transformative solutions in sectors including medtech, advanced manufacturing, logistics, diagnostics, and climate tech. With its slogan "Dare to Changeâ„¢", Cocoon stands apart by leading early, taking concentrated positions, and working hands-on with founders from Seed through Series A. Portfolio companies include Aprisium, TransTRACK, Shomvob, Augmentus, BuyMed, See-Mode Technologies, and Volt14. Learn more at www.cocooncap.com
Media Contact
info@cocooncap.com
SINGAPORE and NEW YORK, April 30, 2025 /PRNewswire/ -- Cocoon Capital, one of Southeast Asia's top-performing early-stage venture capital firms, today announced the first close of its third fund, Cocoon Capital Fund III, securing USD 30 million in commitments towards a target of USD 50 million. The new fund will continue the firm's high-conviction strategy of backing the region's most promising enterprise and deep tech startups from the earliest stages, combining capital with intensive hands-on support to help them scale globally.
In a region where investor returns are hard to come by, Cocoon Capital's performance stands out. Fund I and Fund II are actively returning capital to investors and achieving a leading Distributed to Paid-In Capital (DPI) in the region. According to data insights firm Alternatives.pe, the second fund ranks among the top three performing VC funds in Southeast Asia by Internal Rate of Return (IRR). Cocoon's track record of achieving DPI across all of its funds, clearly demonstrates its winning strategy of building businesses from Southeast Asia and exiting them globally.
"We chose to avoid chasing the hype around consumer tech and the latest buzzwords like AI and blockchain," said Michael Blakey, Managing Partner at Cocoon Capital. "Instead, we are focusing on overlooked opportunities - founders solving hard, unsexy problems in enterprise infrastructure, advanced manufacturing, robotics, and healthcare. Fund III doubles down on that strategy. We're not looking to build the biggest portfolio, we're looking to build the most resilient and transformational one."
Cocoon quietly built a track record of backing exceptional founders in overlooked markets across Southeast Asia, always leading seed rounds before others took notice. This disciplined approach has enabled the firm to invest in companies that are now setting the pace for Southeast Asia's enterprise and deep tech ecosystem.
Cocoon's model is distinct from traditional early-stage investors. The firm leads every deal, takes a board seat, and implements a comprehensive 10-step diligence process that evaluates governance, technical depth, founder aptitude, and product potential even at the seed stage. Its post-investment platform, known as Cocoon Academy, provides founders with access to governance playbooks, financial fundamentals, personal coaching, and a network of domain experts and follow-on investors. With a disciplined pace of up to five investments a year, the team remains deeply engaged with every portfolio company.
The fund will continue to target pre-seed and seed-stage investments in B2B software and deep tech startups across Southeast Asia, while selectively exploring opportunities across broader Asia and Australia. Cocoon plans to invest in 20 companies over the next four to five years. Roughly 55% of the fund is reserved for follow-on investments up to Series A, allowing the firm to maintain support for its strongest companies as they scale.
"The digital transformation of traditional industries in Southeast Asia is still in its infancy," said Carol Cheung, Partner at Cocoon Capital. "We are especially excited about backing founders using technology to modernise sectors long underserved by innovation - whether that's to optimise industrial processes, combat climate change, improve healthcare outcomes, or reshape financial infrastructure. These are long-term problems that require long-term partnerships, and that's what Cocoon is built for."
With its portfolio companies now emerging as leaders in enterprise and deep tech, Cocoon's investment continues to validate its thesis. Deep tech companies, such as Aprisium, which enables micron-level industrial contamination detection, and Augmentus, an industrial no-code robotics reprogramming platform now being used by leading manufacturers worldwide, exemplify how local startups are building globally competitive solutions. Other investments include TransTRACK, a fleet optimisation and logistics platform; BuyMed, one of Vietnam's leading digital pharmaceutical distributors; and Shomvob, a Bangladesh-based job-tech platform improving access to employment and embedded financial services.
"These founders aren't just building regional plays," said Zongxi Sia, Investment Director. "They're solving universal problems with Southeast Asia as their launchpad. Whether it's reducing emissions from manufacturing or improving access to healthcare, these companies are positioning themselves to scale globally from day one."
Fund III's first close of more than half of the target includes a significant number of returning limited partners (LPs), many of whom have increased their commitments, as well as new LPs from across Asia, Europe, and North America. Investors include institutional capital providers, successful founders, and family offices. The strong number of returning investors underscores continued confidence in Cocoon's disciplined, high-engagement model and its track record of generating both returns and impact.
"In today's challenging fundraising environment, it's rare to find a firm like Cocoon," said Gregoire Baudin, a returning investor. "Their ability to identify and nurture deeply technical companies solving critical challenges, and to actually deliver real cash returns, makes it an easy decision to continue supporting them. LPs have seen Cocoon's exit strategy work, with DPI achieved across multiple funds."
"We're building a fund that delivers more than returns," added Blakey. "We're helping build companies that matter - companies that survive downturns, reshape industries, and set new standards for what innovation in this region can achieve."
Cocoon Capital Fund III will remain open to new commitments until its final close, targeting USD 50 million in total capital.
ABOUT COCOON CAPITAL®
Cocoon Capital® is a Singapore-based venture capital firm focused on early-stage investments in enterprise software and deep tech across Southeast Asia. Founded in 2016, Cocoon has more than USD 90 million assets under management and has made over 30 investments to date. The firm backs companies building transformative solutions in sectors including medtech, advanced manufacturing, logistics, diagnostics, and climate tech. With its slogan "Dare to Changeâ„¢", Cocoon stands apart by leading early, taking concentrated positions, and working hands-on with founders from Seed through Series A. Portfolio companies include Aprisium, TransTRACK, Shomvob, Augmentus, BuyMed, See-Mode Technologies, and Volt14. Learn more at www.cocooncap.com
Media Contact
info@cocooncap.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Cocoon Capital Announces First Close of USD 50 Million Fund III to Accelerate Southeast Asia's Enterprise and Deep Tech Startups
JEDDAH, Saudi Arabia, Jan. 12, 2026 /PRNewswire/ -- Dar Global (LSE: DAR), the London-listed international luxury real estate developer, announced today the official launch of Trump Plaza Jeddah, marking its third prestigious collaboration with The Trump Organization in Saudi Arabia. Valued at over USD 1 billion, this landmark development, strategically located within the expansive Amaya development along King Abdulaziz Road, is poised to redefine luxury urban living in Jeddah's thriving real estate landscape, following the successful launch of Trump Tower Jeddah in December 2024.
Residential offerings include fully furnished 1, 2, and 3-bedroom Trump Executive Residences; premium 2, 3, and 4-bedroom Trump Park Residences; and exclusive 4-bedroom Trump Townhouses. Together with thoughtfully designed home offices, premium retail, and curated dining, the project redefines modern living by blending convenience and luxury into a single, connected destination. Optional rental management services further enhance the appeal for international owners seeking a turnkey ownership experience.
Eric Trump, Executive Vice President of The Trump Organization, commented: "Expanding our presence in Saudi Arabia with Trump Plaza Jeddah underscores our commitment to world-class quality and iconic design. This project reflects the strength of our relationship with Dar Global and our confidence in Jeddah as a dynamic, globally relevant city. Trump Plaza Jeddah will set a new benchmark for integrated urban destinations."
Ziad El Chaar, CEO of Dar Global, added: "The launch of Trump Plaza Jeddah represents a major milestone in our Saudi portfolio. This is not a single-use development, but a carefully curated urban ecosystem designed for global residents who want to live, work, and connect within the best address in Jeddah. Anchored by a private park and supported by world-class amenities, Trump Plaza Jeddah introduces a new model for modern city living in the Kingdom."
Central to the lifestyle offering is the exclusive 4,000-square-metre Vitality Club, with golf simulators, a spa, sports medicine and recovery facilities, swimming pools, dining, and high-performance wellness spaces. Destination retail and dining, including Trump Grill, Trump Daily, an artisan bakery, and a fitness pro shop, reinforce its positioning as a district day and night.
Located at the heart of the 1,000,000-square-metre Amaya development, Trump Plaza Jeddah anchors a new, highly integrated urban district that reflects the Kingdom's growing prominence as a global real estate destination, supported by foreign-ownership incentives, a 0% capital gains tax, and accelerated infrastructure investment.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
DAR GLOBAL AND THE TRUMP ORGANISATION EXPAND SAUDI PORTFOLIO WITH USD 1BN TRUMP PLAZA JEDDAH
