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JAFCO Asia company logo
Venture Capital
jafcoasia.com

Investments

255

Portfolio Exits

35

Funds

7

About JAFCO Asia

JAFCO Asia is a venture capital investor in the Asia Pacific Region with offices in Singapore, Hong Kong, Taipei, Seoul, and Beijing. Sectors favored include mobile and internet technology, consumer & services related, cybersecurity, medical/healthcare, and renewable energy. The parent company of JAFCO Asia is JAFCO, a venture capital company in Japan.

Headquarters Location

10 Marina Boulevard #33-05 Marina Bay Financial Centre Tower 2

018983,

Singapore

+65) 6224 6383

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Latest JAFCO Asia News

Teen-focused neo-banking platform Akudo to shut down operations

Sep 23, 2023

Akudo, founded by Lavika Aggarwal, Khanna, and Jagveer Gandhi, is a digital bank for teenagers that offers debit cards that can be controlled by parents. Akudo raised $4.2 million led by Y Combinator, JAFCO Asia, Incubate Fund India and AET Fund. Source: Freepik Leading US-based investment firm Y Combinator-backed Akudo, a teenagers-focused neo-banking platform, is shutting down its core UPI and card business, media report said. According to Entrackr, citing sources, the decision comes in response to a Reserve Bank of India (RBI) directive that prohibited the use of the Unified Payments Interface (UPI) in a co-branding arrangement. “Akudo is likely to wind up its operations and shut down completely in a few weeks from now,” a person familiar with the matter was quoted as saying. “The company has already stopped onboarding new users and intimated its PPI issuer LivQuik and infra partner M2P Fintech about the shutdown,” it added. TRENDING NOW According to the report, UPI accounts for the majority of Akudo's business (over 70 per cent), with cards accounting for approximately 25 per cent of total revenue. Aside from regulatory issues, the company is also out of cash, and its attempts to raise new capital have failed. Akudo, founded by Lavika Aggarwal, Khanna, and Jagveer Gandhi, is a digital bank for teenagers that offers debit cards that can be controlled by parents. The firm raised $4.2 million led by Y Combinator, JAFCO Asia, Incubate Fund India and AET Fund. Tribe Capital, Cabra Capital, and a few other investors also took part in the round, which was announced in September 2021. The RBI has directed PPI issuers to halt UPI in co-branding arrangements. Because of this move, companies like Dream11, Fampay, Akudo, Muvin and CheqUPI had to discontinue UPI services as they didn't hold PPI license.

JAFCO Asia Investments

255 Investments

JAFCO Asia has made 255 investments. Their latest investment was in Mfast as part of their Series A on August 8, 2023.

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JAFCO Asia Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/29/2023

Series A

Mfast

$6M

No

2

6/2/2023

Series A

Savelots

$10M

Yes

2

2/15/2023

Series A

VenWiz

$8.3M

Yes

6

2/14/2023

Series A - II

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10

11/8/2022

Seed VC

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$99M

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10

Date

8/29/2023

6/2/2023

2/15/2023

2/14/2023

11/8/2022

Round

Series A

Series A

Series A

Series A - II

Seed VC

Company

Mfast

Savelots

VenWiz

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Amount

$6M

$10M

$8.3M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

2

2

6

10

10

JAFCO Asia Portfolio Exits

35 Portfolio Exits

JAFCO Asia has 35 portfolio exits. Their latest portfolio exit was AnyMind Group on March 29, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/29/2023

IPO

$99M

Public

4

3/30/2021

IPO

$99M

Public

3

9/30/2020

IPO

$99M

Public

2

8/25/2020

Reverse Merger

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$99M

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10

7/23/2020

IPO

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$99M

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10

Date

3/29/2023

3/30/2021

9/30/2020

8/25/2020

7/23/2020

Exit

IPO

IPO

IPO

Reverse Merger

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

Public

Public

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Sources

4

3

2

10

10

JAFCO Asia Fund History

7 Fund Histories

JAFCO Asia has 7 funds, including JAFCO Taiwan I Venture Capital Limited Partnership (台灣集富一號創業投資有限合夥).

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/27/2020

JAFCO Taiwan I Venture Capital Limited Partnership (台灣集富一號創業投資有限合夥)

$67.1M

4

12/31/2013

Jafco Asia Technology Fund VI

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$99M

10

2/9/2011

Jafco Asia Technology Fund V

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$99M

10

12/31/2007

Jafco Asia Technology Fund IV

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$99M

10

4/10/2006

Jafco Asia Technology Fund III

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$99M

10

Closing Date

4/27/2020

12/31/2013

2/9/2011

12/31/2007

4/10/2006

Fund

JAFCO Taiwan I Venture Capital Limited Partnership (台灣集富一號創業投資有限合夥)

Jafco Asia Technology Fund VI

Jafco Asia Technology Fund V

Jafco Asia Technology Fund IV

Jafco Asia Technology Fund III

Fund Type

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Status

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Amount

$67.1M

$99M

$99M

$99M

$99M

Sources

4

10

10

10

10

JAFCO Asia Team

16 Team Members

JAFCO Asia has 16 team members, including current Chief Executive Officer, President, Yoshiyuki Shibusawa.

Name

Work History

Title

Status

Yoshiyuki Shibusawa

Chief Executive Officer, President

Current

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Name

Yoshiyuki Shibusawa

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Work History

Title

Chief Executive Officer, President

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Status

Current

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