Fund News
Incubate Fund Asia promotes Rajeev Ranka, Dave Kwong as Partners
Early-stage venture capital (VC) firm Incubate Fund Asia has promoted two of its principals, Rajeev Ranka and Dave Kwong, as Partners. The fund aims to build a portfolio of around 20 startups with its third fund, which has a target corpus of USD 50 million. The fund's India-focused arm also went through a strategic rebranding and is now known as Incubate Fund Asia. The fund has backed 27 Indian startups such as Captain Fresh, Yulu, ShopKirana and Plum across B2B, B2C, supply chain, and consumer tech segments across both Tier 1 and Tier 2 markets with an average ticket size of USD 5,00,000- 1.5 million.
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