Spectrum28, a Silicon Valley-based venture capital firm focused on investing in companies disrupting long-standing industries, has closed its first fund, Spectrum Fund I, with a corpus of $170 million. Co-founded by experienced investors and entrepreneurs, the fund co-founders and founding general partners are Kent Ho and Lyon Wong. Financial backers of the fund include a diversified group of financial institutions (FIs), multi-billion dollar family offices, and foundations from the US, Canada, Hong Kong and Singapore.
Spectrum 28 has begun investing in select sectors including finance, genomics/digital health, real estate/construction and emerging tech. Current investments include Earnest, Plangrid, Collective Health, Duetto, Vitagene and Karius. Previously, Ho and Wong were involved with more than 50 venture capital transactions, ranging from the seed stage to growth equity stage. In an official statement, Ho opined: “Venture capital has largely remained the same for the past 40 years. Firms typically wait for ideas to come to them. While that can work, we take a different approach.
Source: Valley VC Spectrum28 launches $170m fund with backing from Singapore LPs – DealStreetAsia
