KDV Capital

What KDV Capital does

KDV Capital is a Singapore-headquartered, early-stage technology investment firm established in 2016 that deploys venture capital into Southeast Asian startups. The firm is led by Director Rush Kothari (Hong Kong) and Advisor Tom Duncan (Singapore), and targets ambitious founders building technology-enabled solutions for consumers and businesses across the region. KDV manages no proprietary technology platforms, products, or APIs; it operates purely as a capital-and-support provider. The portfolio spans approximately 30 holdings across fintech, ecommerce enablement, HR, proptech, digital identity, digital health, developer tooling, and adjacent categories — including identifiable names such as Toss, 99.co, Paidy, PopularPays, Docquity, Wallex, ShopUp, Homage, Honest Bank, HipVan, Qapita, Cyber-Sierra, and VIDA. Beyond the Southeast Asia core mandate, the Director has executed cross-regional deals including an early-stage position in India's largest stock exchange, one of the world's largest carbon black manufacturers, and a seed in Paidy (a major Japanese ecommerce payments provider).

The firm is family-office backed, and Kothari brings multi-asset experience across Equity, Debt, Real Estate, Private Equity, and Venture from a prior Head of Risk and Investments role. The lean two-named-principal structure (Director plus Advisor, under ten total headcount) positions KDV as an emerging, advisor-driven venture manager rather than an institutionalized platform with dedicated sector teams. Geographic footprint is explicitly Singapore and Hong Kong, with deal provenance also extending into Japan, India, and broader Southeast Asia.

The revenue model follows standard venture economics: returns are generated through equity stakes in portfolio companies realized via IPOs, acquisitions, or secondary sales, with management fees (if any external fund vehicle exists) accruing in addition. No fund size, AUM, fee structure, vintage, IRR, or LP composition is publicly disclosed. Customer composition is the portfolio itself — a diversified spread across roughly 30 unrelated founders and verticals — limiting concentration risk to any single portfolio outcome.

Name

KDV Capital

Website

https://kdvcapital.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

KDV Capital is a Singapore-based, two-principal early-stage venture capital firm founded in 2016 that invests in Southeast Asian technology startups, deploying family-office capital across a 30-company portfolio spanning fintech, ecommerce, and SaaS.

Ownership category

akta.pro rank

Product category

Early-Stage Venture Capital

NAICS

Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282)

akta.pro primary industry

Venture Debt Providers (FSANAAAL)

Keywords

• Venture capital funding
• Early-stage tech investing
• Southeast Asia startups
• Private equity investments
• Angel investing

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Investment Returns: As an early-stage venture capital firm, KDV Capital generates returns through equity investments in portfolio companies. Returns are realized through exits via IPOs, acquisitions, or secondary sales. No explicit revenue model details disclosed on the website.

Go-to-market motion1 record

Core offering

KDV Capital is an early-stage tech investment company that provides venture capital funding to ambitious founders building technology companies, primarily in Southeast Asia. The firm supports portfolio companies with capital, mentorship, and access to its network, and invests across Equity, Debt, Real Estate, Private Equity, and Venture.

Product overview

KDV Capital is an early-stage tech investment company focused on Southeast Asia. Rather than offering a product or service in the traditional sense, the company provides investment capital, support, and expertise to ambitious founders building technology companies. The company does not operate its own technology products or platforms.

Differentiator

Problem solved

Functional benefit

Products and services

• Early-Stage Technology Venture Capital Investment Equity and venture capital investment in early-stage technology startups in Southeast Asia, including mentorship and network support for portfolio founders building technology companies for regional consumers and businesses.
• Multi-Asset Family Office Investment Capability Investment capability spanning Equity, Debt, Real Estate, Private Equity, and Venture, applied to opportunities in Southeast Asia and adjacent markets including India and Japan.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Wavemaker Partners: SEA and US early-stage VC firm investing in tech startups from seed through Series A. Comparable stage and regional mandate to KDV Capital.
• East Ventures: One of the most active early-stage VCs across Southeast Asia, particularly Indonesia and Singapore. Comparable SEA early-stage tech investing focus.
• BEENEXT: Singapore-headquartered early-stage VC investing in founders across India, Southeast Asia, and Japan. Directly comparable cross-APAC early-stage tech mandate.
• Openspace Ventures: Southeast Asia-focused early-stage venture capital firm investing across SEA tech founders. Closely comparable to KDV in stage focus, regional mandate, and approach to seed/Series A tech in SEA.
• Antler: Global early-stage VC with strong SEA presence that invests pre-seed and seed into tech founders, including in Singapore and Indonesia. Comparable stage and founder-support model.
• Monk's Hill Ventures: Singapore-based early-stage VC focused on SEA tech founders across seed and Series A. Directly comparable to KDV's stage, geography, and founder-support orientation.
• Golden Gate Ventures: Singapore-based seed and early-stage VC investing in SEA tech startups. Highly comparable on stage, region, and tech-only mandate.
• Vertex Ventures: Long-standing Singapore-headquartered venture capital firm with deep SEA early-stage tech mandate. Comparable on regional focus and early-stage tech investing approach.

Broad incumbents

• Sequoia Capital: Global venture capital firm with active SEA early-stage operations through Sequoia India/SEA. Operates broadly in the same SEA tech category but with vastly greater scale and institutional capital base.
• 500 Global: Global early-stage accelerator/VC with significant SEA activity through seed programs. Comparable seed-stage tech investing focus but at much larger scale and broader geographic reach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks4 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KDV Capital