Gobi Partners, an Asia-focused venture capital firm, has announced a strategic partnership with Japan-based Cross Capital to boost cross-border innovation and enhance the flow of Japanese investments into Southeast Asia’s dynamic startup landscape.

This collaboration aims to empower startups and investors with unparalleled access to resources, networks, and opportunities across the region, the duo said in a statement on Monday.

According to the statement, this partnership marks a pivotal milestone in strengthening the “Crouching Panda, Hidden Tapir” nexus, a framework developed by Gobi to describe the synergy between Northeast Asia and ASEAN.

Together, Gobi and Cross Capital aim to accelerate market entry, localization, and scaling efforts for startups, creating transformative opportunities for entrepreneurs and investors alike.

Founded by experienced venture capital professionals with nearly 40 years of combined expertise, Cross Capital is a business development focused fund-of-funds to connect Japan and global startups.

The firm aims to be a Global Open Innovation Infrastructure and unleash the potential of Japan by leveraging the power of cross-border innovation.

The fund-of-funds plans to commit investments in ultimately ten top-tier venture capital funds across Southeast Asia, Europe, and other key regions and thus, will cover a broad spectrum of sectors, including Digital Transformation, Industry 4.0, Fintech, Smart City, Sustainability, Commerce, Mobility, Deeptech, and Digital Health.

Its flagship Fund of Funds (FoF) connects Japanese corporations to top-tier venture capitalists, offering exposure to a portfolio of approximately 1,800 startups.

This robust framework enables Japanese corporations to embrace open innovation, access global ecosystems, and transform business models.

“Japan’s strong history of innovation and its growing interest in Southeast Asia make this partnership with Cross Capital a natural fit,

“Together, we aim to unlock the vast potential of ASEAN’s dynamic startup ecosystem while providing Japanese investors unparalleled access to the region’s brightest entrepreneurs,” said Thomas G. Tsao, Co-Founder and Chairperson of Gobi Partners.

It is noted that Gobi Partners has a strong track record of building partnerships with Japanese investors, reaffirming its leadership in cross-border collaboration.

Notably, Hermo, one of Gobi’s early portfolio companies, was acquired by iStyle Retail, marking its first exit to a Japanese company.

Other highlights include the acquisition of Workmate, a Singapore-based on-demand staffing platform, by Japan’s HR conglomerate Persol Asia Pacific, and the extended Series A funding round of Indonesian FinTech firm Komunal, backed by Sumitomo Corporation Equity Asia.

These achievements demonstrate Gobi’s ability to foster synergies with Japanese co-investors—a strength that will be further enhanced through its partnership with Cross Capital.

“Cross Capital is backed by major corporations as limited partner investors, all deeply interested in the Southeast Asian startup ecosystem,

“Together with Gobi Partners and its portfolio companies, we aim to co-create impactful projects spanning business partnerships, investments, and M&A opportunities,” said Takaki Nakamura, Co-Founder and CEO of Cross Capital.

“We are truly excited about bridging the dynamic rise of Southeast Asia’s digital economy with the assets of Japanese companies, unlocking new value and driving innovation,” he added.

Cited Tech Collective Southeast Asia (October 2023), the statement noted Southeast Asian tech startups have shown remarkable growth, with valuations expected to reach $1 trillion by 2025.

This partnership with Cross Capital enables Japanese investors to capitalize on this momentum while providing startups access to Japan’s extensive networks and resources.

Startups and investors interested in leveraging this partnership are encouraged to connect with Gobi Partners and Cross Capital to explore the transformative opportunities it offers.

By combining their expertise and vision, Gobi Partners and Cross Capital are well-positioned to redefine cross-border innovation and strengthen the bridges between Northeast Asia and ASEAN for the benefit of startups and investors alike, said the statement.

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