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Quest Ventures to launch early-stage digital commerce startup funds worth US$120m

"The VC firm plans to invest up to US$100m through an open fund and as much as US$20m through an impact fund.

VC firm Quest Ventures is launching two funds worth up to geared towards early stage digital commerce startups, an announcement revealed.

Quest Ventures is known for its early investments into Carousell, Carro, Eatsy, Shopback, Vulcan Post and Ethis. Its portfolio comprises of more than 40 firms, Quest Ventures highlighted.

The open fund targets up to US$100m and will focus on an overarching theme of digital commerce, according to the firm. 'Quest Ventures will continue to invest in startups that are scalable and replicable business models that operate in large internet communities,' James Tan, managing director for Quest Ventures, told Singapore Business Review."

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