M Venture Partners (MVP), a Singapore-based early-stage venture capital (VC) fund, has raised an additional capital of more than $25 million to continue to back emerging winners in its portfolio, bringing the total corpus allocated to MVP Fund I companies to above $55 million.
Out of $55 million, the VC firm secured $30.85 million in May this year.
As per the official release, MVP Fund I has been actively investing since first launching at the end of 2019, and has now completed 30 investments across Southeast Asia and India. The portfolio companies include Naluri, a multi-disciplinary behavioural health coaching startup; Liquide, an on-demand investment advisory platform for stock investors based in India; and NewCampus, a modern leadership school that delivers management training for hyper-growth companies in Southeast Asia.
MVP Fund I primarily invests in technology-enabled B2B or B2B2C business models at the early stage, pre-seed, seed, and pre-Series A, and is focused on backing seasoned talent with ‘true hustle and vision’.
“The MVP team continues to work closely with our portfolio even as they reach later growth stages so the enlarged corpus allows us to continue supporting our most promising founders with additional capital and value-add support as they scale towards the next inflection point. This means that depending on traction, MVP’s cheque sizes can range from a few hundred thousand dollars to several million dollars,” said Mayank Parekh, Founder and CEO of M Venture Partners.
MVP recently doubled down in Naluri’s pre-Series B round.
‘Ally for the founder’
Arjun Balaji, Co-founder and CEO of Gourmet Garden, a company that’s disrupting the fresh fruits and vegetables space in India through a differentiated supply chain, said, “It’s been wonderful to have the entire MVP team be a part of Gourmet Garden’s journey. Their first investment came in 2021, and they followed-on when we raised again in 2022.
“Personally, the standout feature for me is the strength of their conviction in the people and businesses they back. They go all-in, visible in words and deeds, and are truly a long-term ally for the founder.”
“We’ve only deployed 40 percent of our capital thus far and therefore have quite a bit of dry powder left. Driven by our belief that some of the best, most impactful companies will emerge from Southeast Asia and India in the next few years, we’re definitely not slowing down our pace of investments despite current market conditions,” said Tanuja Rajah, Principal at MVP.
(This story has been updated to correct a factual error.)