Press Release
The EdgeOf Launches USD 200M AI Fund under its subsidiary SBVA Led by Taizo Son, JP Lee, and Atsushi Taira as General Partners of the fund.
AI Fund to Invest in Global AI Startups to Support Pan-Asia Expansion with Leading Asian Conglomerates and Corporates
Singapore, August 16, 2024 – The Edgeof, a prominent innovation hub based in Singapore, is excited to announce the launch of a USD 200M AI Fund under its subsidiary SBVA, with an initial closing of USD 130M. This substantial funding round is backed by major players including SoftBank Group, Hanwha Financials, SK Networks, LG Electronics, and a Thai conglomerate’s family office. The AI Fund is designed to invest in global AI startups, facilitating their expansion into the Asian markets. The Edgeof, co-founded in 2023 by renowned entrepreneurs Taizo Son, Atsushi Taira, and JP Lee, is committed to raising the remaining USD 70M from leading conglomerates and corporates across Indonesia, Singapore, Taiwan, Vietnam, Malaysia, the Philippines, and other key regions in Asia.
The AI Fund will focus on mid-stage startups globally (Series A onwards) that are eager to expand their businesses across Pan-Asia. The fund aims to drive fundamental transformations through AI innovations, targeting sectors such as B2B SaaS, Healthcare and Biotechnology, Agriculture and Food Technology, Fintech, AI Core Innovations, Robotics and Manufacturing Technologies, and Sustainability solutions powered by AI.
As a leader in creating a Pan-Asian startup ecosystem, The Edgeof will leverage partnerships with LPs, like-minded investors, founders, corporates, and researchers to support the growth of these startups. At the heart of this ecosystem is Alphame, an AI Agent platform designed to help founders and investors find the best matches, forming the foundation for collaboration and innovation. Through this ecosystem, startups will gain access to business development, market expansion opportunities, open innovation partnerships, joint ventures, M&A opportunities, and more.
Call to Action: The Edgeof are actively seeking limited partners (LPs) from across Asia to collaborate in building a thriving Pan-Asian startup ecosystem. Investment in global AI startups targeting Asian market expansion will begin in September 2024.
Closing: The Edgeof are dedicated to making the world a better place through AI innovations and the development of a Pan-Asian startup ecosystem. We invite LPs and innovative startups to join us in this transformative journey.
Contact Information:
Press Contact: press@theedgeof.co
For Pitch Deck Submission:
ataira.alphanetworkcommunity@alphame.ai
Official Address:
1 George St, Level 10, Singapore 049145