Cocoon Capital’s 13th Portfolio DayHappy New Year from all of us at Cocoon Capital! We are excited to kick off 2025 with the relaunch of our newsletter, Cocoon Quarterly, designed to keep you informed and connected.
In today’s edition, we are excited to share our 2024 achievements, updates on some of our portfolio companies, insights on our new fund, and introduce the new faces of the Cocoon Capital team.
We would also take this moment to congratulate Will, who is transitioning from Partner to Partner Emeritus. Will’s leadership and vision have been instrumental in shaping Cocoon Capital’s journey, and we are deeply grateful for his impact and leadership. As part of his retirement plan, Will will continue to work as General Partner for our first three funds but will only serve as advisor to Fund III.
After a quiet year for the newsletter, we are eager to bring you up to speed on all the progress and milestones we have achieved.
2024: Success against all odds
2024 was a challenging year for Southeast Asia’s venture capital landscape, marked by a prolonged decrease in funding activities that impacted many players within the ecosystem. Despite these difficulties, Cocoon Capital remained active and delivered a strong performance, achieving DPI while continuing to invest in transformative opportunities.
Last year, we reviewed over 3,000 deals and completed three new investments, demonstrating our commitment to supporting promising founders. Our dedication to staying engaged and adaptable allowed us to expand our focus to include Australia, India, and Bangladesh, broadening our regional presence.
Furthermore, many of our portfolio companies secured follow-on funding, with none of these rounds being down rounds. This reflects their product-market fit and resilience in a challenging market. Among these, we would like to highlight two exceptional companies below.
Meet the game-changers: New portfolio companies in 2024
Shomvob, Bangladesh’s leading HR and recruitment platform integrating embedded financial services, has surpassed an impressive milestone of 1 million registered users just six months after our pre-seed investment. This rapid growth underscores Shomvob’s transformative impact on the employment landscape in Bangladesh into one that is fairer and more efficient.
Aleph Technologies, a Singapore-based deep-tech company, is transforming industrial operations with its cutting-edge AI engine and process digital twin technology. By delivering real-time, actionable insights, Aleph Tech enables businesses to achieve up to a 30% reduction in operational costs, driving efficiency and profitability.
ArrowBiome is a Singapore-based biotech company advancing bacteria-targeting technologies with pin-point precision. Initially focusing on tackling body odor and acne, ArrowBiome has plans to expand into addressing broader challenges such as gut health, and antimicrobial resistance.
Fueling growth: Rounds raised by Cocoon Capital portfolio companies
Secured USD 12m, in an oversubscribed series A funding round to accelerate its expansion across Southeast Asia
Secured USD 7m to deliver real-time contaminant detection to drive a sustainable future
From strength to strength: Fund III
Over the last six years, investing out of Cocoon Fund II has provided our team with valuable learnings, and we are proud to share that Cocoon Fund II is a top-decile performing fund in terms of both MOIC and DPI for 2019 vintage early-stage funds.
With this success as our foundation, we have initiated fundraising for Cocoon Capital Fund III, allowing us to build on our strengths. Our mandate remain steadfast: pre-seed and seed investments into B2B enterprise and deep tech startups across Southeast Asia.
Fund III will invest with initial ticket sizes of up to USD 1.5m and aim to do an average of five deals a year. We will maintain a founder-first approach, partnering with bold individuals to drive transformative change.
Building a team of former founders and startup veterans
In 2024, Cocoon Capital celebrated key milestones within its leadership, welcomed two new members to its team, and bid farewell to a few colleagues who had been integral to its growth and success.
We are thrilled to announce that Carol has been promoted from Venture Partner to Partner and will lead Fund III alongside Michael. Her leadership and expertise will be instrumental in shaping Cocoon Capital’s next chapter.
At the same time, Will is retiring and transitioning from Partner to Partner Emeritus. While stepping back from daily operations, he will continue as General Partner for our first three funds and guide our portfolio companies.
As our team evolves, we are excited to welcome two additions:
Sachin – joins us with a unique background in Aerospace Engineering and Economics. Having supported early-stage startups at a Spacetech accelerator and co-founded an Edtech Startup, Sachin brings a founder-first mindset and understanding of what it takes to scale ambitious ideas.
Alexia – joins us with a rich background in Biomedical Engineering. She has previously worked with a life sciences-focused VC and gained hands-on experience in medtech and e-commerce startups. Alexia’s expertise equips her to bring valuable insights and tailored support to our early-stage founders, helping them navigate complex challenges and unlock their full potential.
At Cocoon Capital, we pride ourselves on being more than just investors. Our team, comprised of former founders and seasoned startup veterans, brings a wealth of first-hand entrepreneurial experience. We do not just understand the journey of building a business – we have lived it. This depth of expertise allows us to offer our founders more than just capital. We provide strategic guidance and dedicated partnerships to help them navigate through challenges and achieve success.
Cocoon TeamLet’s stay connected!
We have got an exciting lineup of events and initiatives planned for 2025, and we want you to be part of it. Be sure to follow us on LinkedIn for the latest updates and announcements.
Are you ready to take the next step?
- Founders: Apply here to pitch your startup and join the Cocoon Capital portfolio.
- Partners/Investors: Interested to learn more about Fund III? Connect with us on LinkedIn.
Thank you for being part of our community. We are excited to embark on this new chapter with you!
Warm Regards,
Michael, Carol and the Cocoon Team.