Cisco and Monk's Hill Ventures to boost business innovation among Asean start-ups
Cisco Investments has announced a US$10-million (Bt357.6 million) investment in Monk's Hill Ventures' innovation fund for Asean start-ups.
This fund aims to drive innovation and technology disruptions across Asean by supporting early stage start-ups in companies that have solutions focused on cloud, the Internet of Things, big data and analytics, mobility and enterprise applications.
Monk's Hill Ventures has two primary areas of focus for investing in high-growth technology companies: first, on early stage, Series A and B, technology start-ups operating across Southeast Asia and second, on technology companies from around the world that want to expand into Southeast Asia.
Cisco, in addition to providing funding, will also explore ways of sharing technology and go-to-market expertise with invested companies in the region. This investment is aligned to Cisco Investments’ strategy to fuel innovation, by investing in venture capital funds that support the transformation of local economies and industries.
Saleh M Haji Munshi, president of Cisco in Asean, said the investment with Monk’s Hill Ventures reinforces Cisco’s strategy for supporting disruptive innovation.
Asean continues to be one if the most diverse, fast-moving, and competitive regions in the world with countries like Indonesia, Malaysia, the Philippines, Singapore and Thailand.
In addition to attracting multinationals, Asean has become a launching pad for new companies; the region now accounts for 38 per cent of Asia’s market for initial public offerings, said Munshi.
Kuo-Yi Lim, managing director of Monk’s Hill Ventures, said the goal is not to just invest in companies but build the overall start-up ecosystem to help accelerate growth across the region.
Cisco Investments is an active investor with more than 40 investment professionals with deep market and technology expertise located in major geographies, including the United States, Canada, China, India, Israel and Europe.
Over the last 20 years, Cisco Investments has invested in hundreds of companies across different segments and helped them to build successful IPOs or acquisitions. Cisco Investments currently has an active portfolio of $2 billion with nearly 100 direct investments around the world, and also holds Limited Partner positions in over 35 funds globally.
