Heritas Capital announces over US$10 million first close of Heritas Venture Fund II backed by IMC Group and multiple family offices; Seeks to continue building Heritas’ multi-stage impact investment platform to back founders from venture to growth stages
Following the recent US$60 million first close of Heritas Growth Fund III (HGF III), Heritas Capital today announces its successful first close of its second venture capital fund, Heritas Venture Fund II (HVF II), at over US$10 million. The commitments to HVF II by IMC Group as well as multiple family offices and high net-worth individuals is timely as Heritas Capital builds on the strong track record of Heritas Venture Fund (HVF) portfolio companies and steps up efforts amidst the pandemic to back another generation of high impact and growth ventures within healthcare, education and technology.
Many HVF-backed portfolio companies have shown growth and resilience throughout the pandemic, with strong follow-on rounds raised by Hummingbird Bioscience, Holmusk and Alchemy Foodtech to further their impact in the respective fields of biotech, digital health and foodtech. HVF has also recently led investments into edtech ventures including Cakap in Indonesia and ConveGenius in India, with the intent to further drive robust inclusive growth that benefits their respective communities, across foundational education by children and skills upgrading by adults.
Similar to what has been achieved in HVF, HVF II seeks to back 10-15 promising startups, mainly at Seed and Series A stages across Asia, that are making an impact in enhancing access to affordable quality healthcare and education, as well as contributing to sustainable growth. As an appointed partner under Enterprise Singapore’s (ESG) Startup SG Equity scheme, Heritas Capital through its HVF has partnered SEEDS Capital, investment arm of ESG, to co-lead several promising early-stage startups such as Hummingbird Bioscience, Alchemy Foodtech, and SilverConnect in Singapore and expects to see more such investments in a fast-growing start-up ecosystem locally.
“With the recent first close for Heritas Growth Fund III and Heritas Venture Fund II now successfully achieved, Heritas Capital is well positioned with its multi-stage impact investment platform to back founders of impactful ventures from a continuum of venture to growth stages, and to effectively match institutional, family office and government capital to deserving and purposeful start-ups across high impact and high growth sectors including healthtech, edtech, and foodtech based on our strong pipeline,” said Chik Wai Chiew, CEO and Executive Director at Heritas Capital.
About Heritas Capital
Heritas Capital is a Singapore-based private equity and venture capital investment firm that invests in fast-growing companies across the healthcare, education and technology sectors. Guided by its investment philosophy, “Invest with Purpose, Impact Across Generations”, Heritas Capital backs innovative companies to become emerging champions and drive inclusive growth that improves the lives of local communities while delivering sustainable returns to investors. Heritas Capital’s impact-in-action platform Heritas Cares is an initiative to raise awareness of unmet social needs and to catalyze positive impact to the community through partnerships with its portfolio companies for the benefit of the local communities in which it operates.