Here's Iterative Capital! This early-stage VC firm has just closed their second fund! It closed at $55M and will continue to invest in Southeast Asian startups.

Investor check. Their LPs include Cendana, K5 Global, Village Global and Goodwater Capital.

• 👼🏻 Other LPs: Arash Ferdowsi (co-founder, Dropbox), Achmad Zaky (co-founder, Bukalapak), Andrew Chen (GP, Andreessen Horowitz), Qasar Youni (ex-COO, Y Combinator), David Shim (ex-CEO, Foursquare) and Kum Hong Siew (Head, Airbnb Asia) also joined in!

‍

🔠 ABCs on Iterative

Founded in 2020, they run a Y Combinator-style accelerator program twice a year.

• The accelerator lasts three months and ends with a "demo day" presentation to potential investors.

‍

➕ Run the numbers!

• They've got 65+ companies in 5 cohorts
• Their portfolio companies have raised $163 in follow-on funding
• The total value of their portfolio companies is $1.2B

Their portfolio companies have raised follow-on funding from investors like Insight Partners, Tiger Global, Monk's Hill, Wavemaker, Hustle Fund and more. Some interesting ones?

• Spenmo (W21): raised $85M Series B led by Tiger Global
• GoZayaan (W21): raised $8M and acquired a counterpart to expand in Pakistan
• Propseller (S20): raised $12M Series A
• Sendhelper (S20): acquired by PropertyGuru

‍

🤑 More money, same mission

With the new funds, they'll be able to offer way more resources to support founders.

Bigger checks. The new fund will allow Iterative to increase check sizes to $500k! Oh, and they're now going beyond just pre-seed and seed.

• They plan to invest in 100+ companies at more stages, like pre-seed, seed and Series A startups.
• They'll also start making follow-on investments, which they didn't do with Fund I.

The accelerator was just the first thing. Now, they'll be expanding to programs for founders in different stages.

• Like earlier-stage programs for founders not ready for an accelerator and programs for later-stage founders with strong traction.
• They also plan to have bigger batches of 30 startups each.

They're also big on community! They allow their community to connect and share in the experience of being a founder (it can be lonely!) and also help each other.

• Get access to their 80+ venture partners and visiting partners, who are previous or current founders.
• They have initiatives like annual events for all founders and having each batch meet up in one city.