Twitter LinkedIn
    Friday, January 27
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Funds»Velocity Ventures announce first close of $20m hospitality and travel fund
    Funds

    Velocity Ventures announce first close of $20m hospitality and travel fund

    June 30, 20212 Mins Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Velocity Ventures, a hospitality and travel-focused venture capital firm based in Singapore, announces the initial closing of the first-ever venture capital fund dedicated to hospitality and travel startups. 

    The fund has a Covid-19 themed investment mandate, focusing on supporting distressed and disrupting seed and early growth stage hospitality and travel startups in Southeast Asia.

    The initial closing brings the fund close to 40 per cent of the targeted USD20 million commitment. Investors in the new fund include strategic individual investors, family offices, and other institutional capital.

    The first closing of this one-of-a-kind investment fund validates investor belief in a long term, strong recovery for the hospitality and travel industry.

    “We are pleased to announce the first close for the Velocity Hospitality and Travel Fund I. In such unprecedented times, we believe the pandemic will deliver a period of unparalleled innovation and opportunity in the Hospitality and Travel space as the industry transforms and adapts post Covid-19. This, coupled with the adjustment to valuations driven by the extreme distress in the sector, provides an unprecedented opportunity to invest, support the industry and earn outsized returns. The success of this fundraising is a strong validation of our strategy.” says Nicholas Cocks, Founder and Managing Partner of Velocity Ventures.

    Read more/Source:  Private Equity Wire

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    funds Launches & Fundraising peinsider Private Equity
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Euroclear moves into $9.8 trillion private asset market with Goji buy

    December 21, 2022

    CAI raises over $1B for inaugural fund and co-investment programme

    November 18, 2022

    KKR looking to sell Canadian gas producer Westbrick for $1.13B

    November 18, 2022

    Carlyle targeting $1.6B for second renewables fund

    November 18, 2022

    Comments are closed.

    Other Articles

    Blue Owl Starts a $2 Billion Private-Credit Fund for Wealth Push

    May 2, 2022

    Sunaina Sinha Haldea Is Smashing Private Equity’s Thick Glass Ceiling

    April 13, 2021

    Two million jobs now supported by PE and VC, says new BVCA study

    April 29, 2022

    Godspeed Capital acquires Austin Brockenbrough & Associates

    June 23, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?