Fubon Hyundai Life Insurance, the insurance arm of Taiwan-based financial services conglomerate Fubon Financial Holdings, is backing BlueRun Ventures’ latest fund with $20m, DealStreetAsia reported yesterday.
The commitment would represent a stake of roughly 2.4% in the BRV Lotus Fund III fund which would put the vehicle’s total capitalisation at about $850m.
The firm’s BRV Lotus Fund II had closed at over $500m in 2016, a figure nearly triple the size of its predecessor, and focused on investments in China, Japan and Korea.
BlueRun invests in series A and pre-series A rounds related to areas such as autonomous vehicles, artificial intelligence, the internet of things, smart manufacturing, medical services, with ticket sizes typically ranging between $1m and $10m.
The firm’s portfolio includes athlete management software provider Kitman Labs, computer vision developer AlwaysAI, solar lighting technology developer Petra Systems, housing co-investment provider Haus, state lottery app operator Jackpocket and gig economy platform Drum.
