ELEVEN:ZULU CAPITAL, a new VC from Los Angeles, Calif. announces today that it officially opens to accept investment proposals from startups in Asia and in the US.
“The space is crowded. There is so much money. As a result, the valuations of most US startups have gone through the roof. However, we know that there are still many other ecosystems in different parts of the world, whose startups are equally capable but just much undervalued simply because they are under the radar. Our mission is to find such startups from the lesser-known ecosystems and enable them to build great companies and to bring profitable successes for everyone in the ecosystem, including our investors” says the founder and a Special Partner of the firm, Eunse Lee – an entrepreneur and a former strategy consultant from Korea who also has served as an advisor to Korean Government under the current legislature.
As Lee puts it, ELEVEN:ZULU CAPITAL intends to invest up to 80% of its $100 million inaugural fund – which is in formation now, in startups from Asia – including Korea, China, Japan and Southeast Asian countries. Also, while the new VC welcomes most of investment opportunities in all industries, it will invest in the pre-revenue stage companies in the sectors of enterprise software, healthcare, and e-Commerce and fintech with a stronger focus. The typical investment will range between $3~5million, and after the investment it plans to help its portfolio companies to tap onto the global market out of Los Angeles.
“What we know is this: we don’t have an opportunity when things are already set in place. Opportunities for most of us arise when things are opening up and when they are dynamic. From such a perspective, Los Angeles is a great place to start up because it’s just as lucrative as Silicon Valley in terms of opportunities, but is more dynamic in terms of the lifecycle of its ecosystem; it’s just being formed and welcoming entrepreneurs. There is a great deal of dynamism and more and more investors are starting to move their eyes to the City of Angels” explains Lee about why he thinks LA is a great ecosystem.
Lee finishes the announcement with saying, “Money is now only a commodity. And if we were merely to provide such a commodity and make profit, I don’t think we need to be here today as just another VC. Instead, as a team of entrepreneurs, we believe that our role is, in addition to providing growth capital, to transfer a full-stack of experience – which we had to earn the hard way ourselves, to our portfolio companies and support them to grow into a successful startup. Now, that is our intention!”