Wrapping Up 2024: $75M Fund II, New Portcos, and Global Expansion | FEBE Newsletter Dec 24
Hello from FEBE!
As we close out 2024, I’d like to reflect on FEBE’s key milestones — celebrating the highs and embracing the lessons from the challenges.
This year, we launched our $75M Fund II and welcomed 9 global portfolio companies to the FEBE family. While navigating challenges, including the winding down of some portfolio ventures, we stayed steadfast in our mission, fueled by FEBE’s entrepreneurial DNA and our “For Entrepreneurs, By Entrepreneurs” ethos.
Wishing everyone a Merry Christmas and a Happy New Year in advance.
– Olivier
FEBE In Numbers
Announced FEBE Fund II
In 2024, FEBE launched Fund II to reinforce its commitment to backing startups across the USA, India, Brazil, and Southeast Asia, focusing on Pre-Seed to Series A companies. So far, we have invested in 9 innovative businesses spanning AI, B2B SaaS, Fintech, and Climate Tech.
Rounds Raised by FEBE Portfolio Companies
Flowdesk
Flowdesk raised $50M in Series B to drive expansion and secure licenses in Singapore and the US, and enter key financial hubs.
Locad
Locad has raised $9M in Pre-Series B funding, bringing its total funding to $30M+, to drive expansion into the Middle East.
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Omni HR
Omni HR raised US$7.4M to expand their flexible, cross-border platform while maintaining localization for Asia's modern workforce.
Welcomed 3 New Partners
This year, FEBE welcomed three new partners, all former founders with deep regional expertise across Silicon Valley, Brazil, Southeast Asia, and India. Their diverse backgrounds further enhance FEBE's global strategy and network expansion around the world.
Our Biggest Learning This Year
Silverbird, a FEBE portfolio company and digital payments platform for international trade, raised $27.9M between March 2021 and December 2023, reaching $6M ARR. Unfortunately, compliance challenges led to the withdrawal of a $23M Series B term sheet, triggering regulatory risks that prevented the company from securing further funding in time, ultimately leading to its bankruptcy.
Building a Team That's Truly Global
This year, FEBE grew its team to 8 members - a diverse group of global citizens from the USA, Korea, India, Canada, Indonesia, France, Singapore, Brazil, Portugal, and Vietnam.
FEBE Community
From Tech Week in San Francisco to the Tech in Asia Conference in Jakarta, FEBE participated in events celebrating innovation and entrepreneurship all over the world. We also hosted our signature Founders Apéro in Singapore and Vietnam, a tradition we’re excited to carry forward in 2025, beginning with Brazil in February.
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