European tech’s most active East Asian investors

Japanese investment giant SoftBank backed just four European companies in 2024, half the number it backed the year prior..

This dip is in line with a wider retreat from Europe from East Asian investment firms. Investment is yet to return to the levels seen in 2021, with $11.1bn coming from East Asian investors into European tech in 2024, down 66% compared to 2021, according to data platform Dealroom.

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Investment firms in the Gulf region also cooled on European startups last year, with funding dropping by almost 50%.

So which East Asian investors did crack out the cheque book in 2024? Here are those that backed the most European tech companies last year, according to Sifted data – including a notable number of crypto and gaming investments.

1/ Antler

HQ: Singapore

Deal count in Europe in past year: 83

Notable investments: productivity app Sona, powerline inspection AI tool Arkion

Antler makes it onto the list because its HQ is Singapore but it’s a slight outlier as its footprint is global and it has offices around the world.

Antler invests in a wide range of companies, from B2B and healthtech to property tech and consumer. The firm most recently raised a $285m growth-focused fund last July to invest in companies from Series A and later. Last year, Antler raised a new €150m specifically dedicated to Nordic startups.

2/ Temasek

HQ: Singapore

Deal count in Europe in past year: 9

Notable investments: legal tech RobinAI, heat pump installer Aira

Temasek invests the sovereign wealth of Singapore. In 2024, it backed companies across fintech, healthtech, SaaS and climate tech.

3/ Animoca Brands

HQ: Hong Kong

Deal count in Europe in past year: 5

Notable investments: game startup Cross the Ages, metaverse game AOFverse

Animoca Brands is a Hong Kong-based company that develops games and blockchain tech. Its VC arm backs companies across web3, the metaverse, crypto and esports in particular.

4/ Marubeni Corporation

HQ: Japan

Deal count in Europe in past year: 5

Notable investments: metals recycling startup Altilium, biomass and waste startup AquaGreen

Marubeni is a Japanese conglomerate which works on paper pulp trading and electrical and industrial plants. Its European investments in 2024 were focused on climate tech.

5/ Sony Innovation Fund

HQ: Japan

Deal count in Europe in past year: 4

Notable investments: smart materials startup Cambridge Mechatronics, energy software startup Flower

The venture arm of Sony, the fund invests in early-stage companies “shaping the future of business, entertainment and society”.

6/ SoftBank

HQ: Japan

Deal count in Europe in past year: 4

Notable investments: autonomous vehicle startup Wayve, fintech Zopa

SoftBank was an early backer of Yahoo and Chinese company Alibaba. It launched the world’s largest tech fund — its $100bn Vision Fund — in 2017, and then launched a second Vision Fund, targeting $108bn, in 2019. It went on a deal-making spree in Europe in 2021, backing 37 companies but has cooled off its focus on the continent in recent years.

7/ KRAFTON

HQ: South Korea

Deal count in Europe in past year: 4

Notable investments: gaming startups Red Rover and Far From Home

KRAFTON is a South Korean video game publisher.

8/ HashKey Capital

HQ: South Korea

Deal count in Europe in past year: 4

Notable investments: web3 startups Lava Network and Compute Labs

Hashkey invests in digital assets and blockchain technologies.

9/ Horizons Ventures

HQ: Hong Kong