Ondine Capital

Ondine Capital (活水資本) is a venture capital investor founded in 2019, with offices in Taipei, Singapore, and Shanghai. It runs a dual-geography strategy through both USD and RMB funds: in Greater China it backs advanced and deep-tech companies spanning AI, semiconductors, big data, IoT, and 5G, while in Southeast Asia it targets consumer technology across retail, education, logistics, and broader TMT. The firm invests primarily at seed and Series A, with disclosed Southeast Asian deals ranging from roughly US$2.6M up to participation in US$20M+ rounds. In 2022 it began raising a targeted ~US$100M USD fund—its largest vehicle to date—alongside opening its Singapore office. Portfolio companies include regional standouts such as CARSOME, Swap Energi, Love Bonito, Dekoruma, Sayurbox, Haulio, and iMotorbike. The best-fit founders are early-stage teams either building deep tech in Greater China or scaling consumer/TMT businesses in Southeast Asia, especially those seeking cross-border expansion support between the two regions.