Cisco Investments announced $10 million investment into Monk’s Hill Ventures’ innovation fund for start-up companies.
This fund aims to support early stage start-up companies that have solutions focused on Cloud, the Internet of Everything (IoE), Big Data and Analytics, Mobility and Enterprise applications across the Association of Southeast Asian Nations (ASEAN).
Besides funding, Cisco will explore ways of sharing technology and go-to-market expertise with invested companies in the region.
“Cisco has a long history of working with governments and organizations in ASEAN to promote innovation and economic development, and we know that the Internet is the platform that enables the delivery of new applications and solutions,” said Saleh M Haji Munshi, president, ASEAN at Cisco, in a statement.
The partners of Monk’s Hill Ventures have built numerous Silicon Valley and Asian VC-backed companies over the past two decades, with operating experience in all of the major countries across Asia — from China and Japan to India and Indonesia.
Cisco Investments currently has an active portfolio of $2 billion with nearly 100 direct investments around the world, and also holds Limited Partner positions in over 35 funds globally.