Founded in 2016 by Michael Blakey and Will Klippgen, Cocoon Capital is a Singapore-based venture capital firm focused on early-stage enterprise software and deep tech startups across Southeast Asia. The firm leads rounds early, takes concentrated positions, and works hands-on with founders from Seed through Series A — guided by its "Dare to Change™" ethos.
Thesis and investment focus
Cocoon Capital backs companies building transformative technology in sectors including medtech, advanced manufacturing, logistics, diagnostics, climate tech, fintech, and insurtech. Unlike generalist seed funds, the firm deliberately concentrates on deep tech and B2B enterprise software — areas it argues are underserved by regional venture capital despite strong demand. Its hands-on model means a small number of portfolio companies get intensive support rather than spray-and-pray coverage. The firm has also run public mentoring hours across Singapore, Ho Chi Minh City, Hanoi, Manila, Bangkok, Jakarta, and Yangon to strengthen local founder ecosystems. Recent activity underlines the thesis: in late 2025 Cocoon Capital led a US$1.425 million seed round in Bioactivx, a Singapore biomaterials startup building synthetic skin substitutes for wound healing, with participation from strategic investors. The firm says it stands apart by leading early, taking concentrated positions, and working shoulder-to-shoulder with founders from Seed through Series A.
Funds and track record
Cocoon Capital manages more than US$90 million in assets across its funds. Cocoon Capital Fund III announced its first close in April 2025 and is targeting US$50 million in total commitments, backing high-performing enterprise and deep tech startups — the firm reported having raised over half of the target at first close and noted it has achieved distributions (DPI) across multiple funds. Its earlier Fund II raised US$22 million for enterprise tech, following a US$20 million first fund. Portfolio companies include Aprisium, TransTRACK, Shomvob, Augmentus, BuyMed, Qashier, See-Mode Technologies, Volt14, Bioactivx, SensorFlow, and Anchanto.
What founders get
Cocoon Capital positions itself as a lead investor that rolls up its sleeves — from customer introductions to follow-on financing support through Series A. Its concentrated approach means founders get real partner time, not just a logo on the cap table. The firm's exit track record and institutional LP base give it staying power through downturns.
Why it matters for founders
If you are building enterprise software or deep tech in Southeast Asia and want a lead investor who works like an operator, Cocoon Capital belongs on your shortlist. It writes early, stays concentrated, and brings a genuine deep-tech network — the right fit for founders solving hard, unglamorous problems in medtech, logistics, or industrial tech.