M Capital Management, a VC firm based in Singapore, announced on 22nd March that it has closed its maiden fund with M Venture Partners, at US$30.85 million.
The funding is going to invest in around 40 ventures; mainly in the seed and pre-Series A-stages. They will mainly be focused on technology-enabled B2B or B2B2C businesses. The average initial cheque size will be about US$500,000.
“We intend to remain sector-agnostic in this maiden fund. However, we are extremely focused on investing in seasoned talent. We seek to partner with entrepreneurs who have pedigree professional experience and strong academic backgrounds,” said M Capital’s co-founder Mayank Parekh.
“While it may sound simplistic, at this early stage, it’s all about ensuring the talent has the mental acuity, maturity, and resilience to build to last,” he added.
“While maintaining Southeast Asian, broader regional and global aspirations, a majority of our portfolio companies will be Singapore headquartered. Singapore presents a fabulous venture ecosystem and support network for our entrepreneurs and an ideal springboard to launch innovative and disruptive technology start-ups across multiple markets,” said M Capital’s another co-founder Joachim Ackermann.