History
In 2011, James Tan and Wang Yunming, cofounders of Nasdaq listed 55tuan, [5] launched a venture fund to focus on investments in China and Southeast Asia. The firm is active in supporting the operations of its portfolio companies. Quest Ventures is a partner of the Malaysia Digital Economy Corporation (MDEC), [6] co-investor of the Cradle Fund, [7] an approved mentor partner for investments of Enterprise Singapore, [8] and is an iJAM investment partner with the National Research Foundation of Singapore. [9]
In 2017, Quest Ventures was the title sponsor of the Quest Ventures-EDGE National Youth Entrepreneurship Awards. [10]
In 2020, Quest Ventures announced a partnership with ScaleUp Malaysia Accelerator to invest in Malaysian startups. [11]
As of 2022, Quest Ventures has launched 3 thematic funds and invested in more than 100 companies around the world. [12] [13] [14]
Investments
The firm invests primarily in early-stage digital commerce startups that are based in Southeast Asia. It invests in the “seed” and “series A” stage. [15] The company characterizes digital commerce startups as companies that have “scalability and replicability in large internet communities.” [16]
Quest Ventures has invested in more than 100 companies since its founding, including Carousell, BILLZ, 99.co, Burpple, Watch Over Me, ShopBack and NodeFlair in Southeast Asia. [17] [18] Vulcan Post has described James Tan, Managing Partner of Quest Ventures, as an investor with the Midas touch. [19] The firm is typically the first investor in startups, and primarily looks at the team of founders when making an investment decision. [20]
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