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Hustle Fund hits $33.6m final close of second global pre-seed fund
February 23, 2021
Singapore- and Silicon Valley-based seed investor Hustle Fund has raised $33.6 million for the final close of its second global pre-seed fund.
Hustle Fund 2’s anchor limited partners are US venture capital firm Foundry Group Next, Taiwanese corporate Far Eastern Group, Japanese corporate venture arm LINE Ventures, and Chinese private investment firm Shanda Group.
Both LINE Ventures and Shanda Group re-joined this vehicle, having anchored Hustle’s $11.5 million debut fund in 2019.
Hustle Fund targets the pre-seed segment, writing $25,000 first cheques in startups before working alongside the team to determine follow-on rounds. It plans to deploy up to one-third of the fund in Southeast Asian companies in Hong Kong and Australia, among other places, while the remaining will be invested in North American startups.