Patamar Capital to invest over US$6 million in Southeast Asia

Formerly known as Unitus Impact, the name change is a move to reinforce the firm’s evaluation and commitment to early stage ventures in Southeast Asia.

Venture capital firm Unitus Impact Partners recently said that it has planned to invest more than US$6 million in Southeast Asia’s early stage ventures, in conjunction with a name change to Patamar Capital.

The announcement was made at the Asian Venture Philanthropy Network 2017 conference in Bangkok, Thailand on 7th June.

“We are excited to share our new name with the world,” said the CEO of Patamar Capital Geoff Woolley. “We believe it will help us stand out even more clearly in the years to come. We are proud to have spent the last six years building an enviable reputation for deep commitment to visionary entrepreneurs across South and Southeast Asia.”

“As Patamar Capital, we look forward to continuing our growth as the region’s leading venture capital firm focused on applying our experience and knowledge to help improve the lives of low-income populations in Asia,” Woolley added.

So far, the company has invested up to US$2 million in scalable businesses to improve the livelihoods of the working poor in some of Asia’s fastest growing sectors like agriculture, education, healthcare, employment access, and financial inclusion.

Most of its capital goes to early-stage impact startups such as Indonesian healthcare startup mClinica, Vietnamese for-profit social enterprise iCare Benefits, and Kalibrr, a jobs portal from the Philippines.

By the end of 2017, the San Francisco-based impact venture capital firm will also close two to three deals in Southeast Asia, in addition to one exit from the region.

Patamar Capital also said that it will be raising a new fund in the medium term, two years after its last Livelihood Impact Fund at US$45 million. Patamar Capital’s Limited Partners include philanthropic organizations, family offices, and pension funds.

Other reports on impact investors in the region include Aavishkar group raising a US$45 million fund focused on South and Southeast Asia. The firm has made one investment in Indonesia so far, in a seafood processing company known as Bali Seafood.

Hostel Hunting closes Series A funding to gear up for Asia Expansion

Hostel Hunting closes Series A funding to gear up for Asia Expansion

Student hostel finder HostelHunting has recently raised an undisclosed Series A round from Tokyo-based Accord Ventures, real estate-focused Hoop Partners Startia, and existing investor KK Fund.

The latest funding round comes after its previous US$500,000 seed investment back in December 2015 which was participated by Singapore’s KK Fund, Japan’s Incubate Fund, and Malaysia’s Cradle Fund.

The startup said that it plans to use the proceeds from the round for product development and recruitment plans.

“We will be aggressively growing in all our current markets in terms of rooms and bookings. For this, we will need to put the right people in the right places,” explained HostelHunting co-founder Weng Leong Loke.

“We are also growing our regional team to ensure that all countries are supported, in addition to developing new features and functions for our landlords and owners to enhance their offerings,” he added.

Founded by Weng Leong Loke and Wen Khai Keek in 2015, the Malaysian startup helps students locate nearby rental properties close to their university campus.

Students can use the website to filter through verified property listings by area or institution and communicate directly with potential landlords through its messaging features. HostelHunting then takes a service fee for every successful booking.

The platform is also currently operating in Singapore and Thailand and in 2017, it will continue to work to fulfill its mission to provide the best student living experience for its users.

The startup will work towards four brand pillars, that is to proving to be the best match between the student and the landlord; understanding the neighborhoods they operate in; understanding and engaging with the students; and a dedication to building a community across the entire landscape of students, landlords, and universities.