Singapore-based venture capital firm Lyra Ventures has attracted clothing manufacturing and retail group TSI Holdings as a limited partner for its second fund, e27 has reported.
Founded in 2017, Lyra Ventures mainly backs early and mid-stage startups while occasionally taking part in later-stage deals. It targets fashion technology-related sectors including materials, retail, branding and software-as-a-service developers.
The firm usually backs startups in Southeast Asia, Europe, Israel and US, but will restrict investments from the new fund to international businesses planning to expand into Japan and Southeast Asia.
The size of the fund has not been disclosed, nor have the identities of the other LPs. Lyra Ventures’ portfolio includes visual search tool developer Syte AI and customer engagement software provider Mercaux.