East Ventures Injects Funding into Startup Qapita
The venture capital firm East Ventures provided funding to start-up Qapita for an undisclosed amount. The startup based in Singapore is engaged in software-as-a-service (SaaS) for digital equity management.
Qapita helps private companies such as startups manage their shareholding structure and employee share ownership plans (ESOP). In addition, Qapita plans to digitize the share issuance process and share purchase options (equity awards).
East Ventures’ funding rounds will be used to strengthen the Qapita team in Singapore, India and Indonesia. So that the company can accelerate the product development process and add clients.
In September 2020, Qapita raised USD 1.8 million in an early-stage funding round led by Vulcan Capital Singapore and several leading early-stage investors, including Koh Boon Hwee, K3 Ventures and a partner in the Northstar Group. Since then, Qapita has recruited senior professionals into their team from the banking, venture capital and asset management industries.
Ravi Ravulaparthi, CEO and Co-founder of Qapita said that his party is very happy with the investment and partnership with East Ventures. East Ventures has a wide and unrivaled footprint in the Indonesian start-up ecosystem, and is looking to work with them.
Ecosystems in Indonesia Require Digital Management
Ravi Ravulaparthi, CEO and Co-founder of Qapita said the fast-growing ecosystem in Indonesia will require digital equity management, an ESOP culture, and an employee liquidity program. It will also promote rapid development in the secondary stock market.
“Qapita will contribute to meeting this need by providing software platform solutions. We hope to build more partnerships with other VCs with portfolios spread across India and Southeast Asia,” said Ravi in a written statement, Wednesday (3/2).
Lakshman Gupta, COO of Qapita added that in the next few years, there will be no more paper-based shares and certificates issued by startups in the Southeast Asia region. Digitalization will not be stopped and the issuance of shares will be based electronically.
“Qapita is also building digital share issuance capabilities on our platform, and will work closely with partners in the corporate secretarial and legal divisions,” he explained.
Commenting on the investment, Willson Cuaca, Co-founder and Managing Partner at East Ventures added, Qapita solves a classic cap table management problem that is often faced by start-up founders in the region.
“We believe digital equity management SaaS solutions, such as those provided by Qapita, will soon be widely adopted. This will help propel Southeast Asia’s digital ecosystem to the next level,” said Willson.
The company was founded in September 2019 by CEO Ravi Ravulaparthi, COO Lakshman Gupta, and CTO Vamsee Mohan. They see an opportunity to digitize and make the private capital market more efficient.
The three founders of Qapita come from different professional backgrounds with more than 20 years of experience working as bankers, investors and technology experts in South and Southeast Asia.
East Ventures Appoints Koh Wai Kit as New Partner
The venture capital firm East Ventures announces the appointment of Koh Wai Kit as a new Venture Partner. Wai Kit is the co-founder and Head of Pavilion Capital, a business unit of Temasek that manages the company’s funding in the technology industry.
The Massachusetts Institute of Technology alumnus has more than ten years of experience in the investment world and has held various positions in portfolio management, investment and strategy at Temasek.
“Over the years working side by side with East Ventures, Wai Kit has always provided us with valuable opinions and advice,” said Willson Cuaca, Co-founder and Managing Partner at East Ventures. “Wai Kit is a smart and sharp-minded person with a great sense of empathy, all of the characters and values that we hold dear at East Ventures.”