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.
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
Deal count in Europe in past year: 4
Notable investments: next-gen plastic startup Xampla
Horizons Ventures backs deeptech companies. It’s headquartered in Hong Kong with offices in London, San Francisco and Singapore.
10/ Amber Group
HQ: Singapore
Deal count in Europe in past year: 4
Notable investments: web3 startup Entangle and Compute Labs
Amber Group is a digital assets company based in Singapore.
Read the orginal article: https://sifted.eu/articles/european-tech-east-asian-investors/
