ATM Capital got about halfway to its $200m target with help from Alibaba and 58.com before the coronavirus hit fundraising efforts.

China-based, Southeast Asia-focused venture capital firm ATM Capital has closed a fund backed by corporates Alibaba and 58.com at about $100m, DealStreetAsia reported yesterday, citing sources privy to the development.

Founded in 2017, ATM Capital aims to bring Chinese expertise to bare helping Southeast Asia-based startups grow. The fund is its first and it had set a $200m target for its final close, but sources told DealStreetAsia the Covid-19 crisis had impacted fundraising activities.

E-commerce group Alibaba’s EWTP Technology…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?
Robert Lavine

Robert Lavine is special features editor for Global Venturing.