Incubate Fund Asia, a Japanese Venture Capital Fund with a focus on seed-stage investment, has promoted two of its Principals, Rajeev Ranka and Dave Kwong, to Partners within the fund. This move is part of the fund’s expansion plans to build a portfolio of approximately 20 startups with its third fund, targeting a corpus of $50 million.
Rajeev Ranka and Dave Kwong have been pivotal in the success of Incubate Fund Asia’s India-focused operations, which recently rebranded to emphasize support for pre-seed and seed-stage startups in India and Southeast Asia. In their new roles as Partners, they will continue to work closely with startup founders and entrepreneurs, shaping the trajectory of these emerging businesses. Additionally, they will play a crucial part in the fund’s investment strategy and portfolio management.
Rajeev Ranka, who joined the fund in 2020, brings his expertise to Indian investments. He is an IIT Bombay graduate and has been a key figure in guiding the fund’s investments in India. Dave Kwong, a long-standing member of the fund, has been instrumental in the investment and development of early-stage startups in South East Asia.
Commenting on the promotion, Rajeev Ranka, Partner at Incubate Fund Asia said, “I am excited to take on this new role and continue to work with the experienced team at Incubate Fund Japan and Asia to support the growth of early-stage startups in India. We have a strong track record of identifying and investing in promising startups, and I look forward to building on that success in my new role as Partner.”
Dave Kwong added, “I am honored to be part of this team as always and looking forward to continuing to work with our team at Incubate Fund Asia to identify and invest in the most promising early-stage startups in the region. We have a unique opportunity to support the growth of the entrepreneurial ecosystem in India and Southeast Asia, and I am excited to be a part of that effort.”
While announcing Mr Nao Murakami, Founder and General Partner of Incubate Fund Asia, said, “We are thrilled to promote Rajeev Ranka and Dave Kwong to Partners in the fund. They have been instrumental in the success of our India-focused entity and have a deep understanding of the startup ecosystem in the region. We are confident they will continue to play a key role in identifying and nurturing promising startups in India and Southeast Asia.”
Incubate Fund Asia, under the leadership of Founder and General Partner Nao Murakami, continues to remain devoted to nurturing innovation and fostering the growth of startups, contributing to the vibrant entrepreneurial ecosystem across Asia. The fund has a track record of backing 27 Indian companies in various segments, with an average deal size ranging from $500,000 to $1.5 million.
The fund’s strategy focuses on pre-seed and seed-stage investments in India and Southeast Asia, and the recent announcement of the first close of their third fund with a target corpus of $50 million reaffirms their commitment to early-stage startups in the region.
Exciting news! We’re now on WhatsApp Channels too. Subscribe today by clicking the link and stay updated with the latest insights in the startup ecosystem! Click here!
Incubate Fund Asia, which originated in Japan, is recognized for its expertise in seed-stage investments and has a history of supporting over 200 startups in Japan and across Asia. They expanded their presence to India in 2016 and rebranded their Indian entity as Incubate Fund Asia. The fund actively engages with startups, providing hands-on support and mentorship, making them a valuable partner for entrepreneurs. Their commitment spans various sectors, including B2B, B2C, Supply Chain, and consumer tech markets.
