Venture capital firm K2 Global has raised USD183 million in committed capital for a new fund.
K2 Global works with entrepreneurs in the mobile, e-commerce, fintech, AR/VR, artificial intelligence, autonomous vehicles, and machine learning realms.
K2 Global has invested USD58 million in over 10 companies to-date, including Magic Leap, Spotify, Uber as well as start-ups like Paktor, referred to as the Tinder of Asia.
A recent K2 Global investment, Paytm, recently crossed 150 million in user base and its daily transactions average seven million since November. Paytm is expanding globally, aims to launch in 16 countries and recently announced its partnership with Alipay (owned by Alibaba Group).
"Start-ups need to think globally from day one if they want to succeed on a large scale," says Minal Hasan, founder and general partner of K2 Global. "Traditionally, venture capital has been a hyper-local business, but tech has truly gone global. We are seeing a universal convergence of ideas, markets, economies, and technologies, resulting in companies expanding into international markets much more rapidly than before due to the explosion of Internet and mobile technology. K2 Global's unique mix of expertise and deep understanding of key global markets enables our team to punch above our weight and win deals over larger and more prominent VC firms."
As K2 Global expands, it seeks to work with "third wave" entrepreneurs that challenge incumbents in the biggest industries in the world by forming a wide range of alliances, including government regulators, to achieve K2's mission of creating impact at scale.
"We work hard to be the preferred investment partner for premier technology companies that will have a lasting impact," says Hasan. "I have seen the inner workings of so many successful, and some failed, tech start-ups from nearly every angle – engineering, marketing, investing, and law. I was tired of sitting on the sidelines. The tech industry is my tribe. I wanted to be an entrepreneur and actively help other entrepreneurs by leveraging my experience and resources. We look forward to an increasingly interconnected world in which innovation is fostered by a worldwide community and we're prepared to lead that charge."
