Hemisphere Ventures, a United States-based venture capital, has announced the opening of a new office in Singapore, marking its first expansion into Southeast Asia.

Hemisphere said in a statement on Thursday that it will leverage its extensive U.S. network, including connecting existing portfolio companies and customers with Southeast Asian startups.

“Hemisphere’s commitment to the innovation ecosystem has gone global,

“Our new Singapore office enables engagement in the region and allows us to connect startups with international markets,” said Lisa Rich, Founder of Hemisphere Ventures.

Leading the firm’s expansion is Chip Whittemore, newly promoted to Managing Partner.

In his new role, Chip will lead Hemisphere’s Singapore operation, building relationships with regional investors, founders, and key stakeholders.

“We are thrilled to announce the promotion of Chip to Managing Partner,

“Chip’s leadership and vision will play a pivotal role in unlocking growth opportunities in Southeast Asia, a region ripe for growth as both talent and capital flow to the area,” said Lisa.

Chip said Singapore provides a safe and attractive destination for advanced technology investments, with access to high-growth opportunities across Southeast Asia.

“I am excited to lead Hemisphere’s expansion, and connect founders and investors to the global startup market,” he said.

According to the statement, Southeast Asia’s potential is driven by a young population, robust economic growth, and increasing foreign direct investment.

It noted Singapore has become a financial powerhouse and preferred gateway to the region’s booming markets.

With S$ 5.5 trillion ($4.09 trillion) in assets under management, it opined that Singapore’s stable regulatory framework, world-class financial services, business-friendly policies, and strategic location make it an ideal site for Hemisphere’s new office.

According to Hemisphere Ventures, family offices in Singapore have more than tripled since 2020, with an additional 250 offices established in the first eight months of 2024.

It noted this influx reflects the growing interest from global and regional investors seeking stability amid geopolitical uncertainties.

It also said the shift of capital flows from China, Indonesia, and India to Singapore reflects evolving regional dynamics, as investors consider it a safe haven for diversification.

As China pivots from technology and finance to focus more on manufacturing, it noted wealthy investors and venture capital firms seek new opportunities in advanced technologies and growth sectors, such as space and robotics.

Established in 2014, Hemisphere is venture capital and consulting firm known for its early-stage investments in space, cybersecurity, biotech, nanotech, drones, robotics, and other frontier technologies.

The firm built an outstanding portfolio of U.S. frontier technology investments, attracting scouts from major venture capital firms and investors from the nation’s most prominent family offices.

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