Fundraising Fox
Vulpes Ventures
Venture capitalSingapore · Seed–Series A · 7 people tracked
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Investment thesis
Vulpes Ventures operates out of Vulpes Investment Management, an alternative asset manager active in Singapore since 2002 with deep Asia-Pacific expertise. Having previously invested as a limited partner in venture funds, the firm launched its first direct venture fund in 2020, applying its accumulated market perspective to backing startups. Its track record includes leading PropertyGuru's seed round and joining Trax's Series A, supporting two of Singapore's original unicorns.
Source: firm website, verified Aug 3, 2026.
Team · 7 people
from the firm's website & public directories
Stephen Diggle has worked in finance since 1986, including 15 years at international investment banks in London, Sydney, and Hong Kong. He co-founded Artradis Fund Management, a Singapore-based hedge fund launched in 2002, and later founded Vulpes Investment Management, a family office-backed investment manager where he serves as one of two portfolio managers with a focus on U.K.-based biotechnology companies. He holds a Master's degree in Philosophy, Politics, and Economics from the University of Oxford.
Nicholas Thibeault is Principal and COO at Vulpes Ventures, where he works across the business and heads the investment deal team. Before joining Vulpes in 2019, he worked in Myanmar launching the corporate advisory arm of a Swiss consultancy and served as interim Country CEO for early-stage fintech Kiu Global; earlier he worked at Canaccord Genuity in London in asset management and then investment banking focused on M&A and ECM in the consumer and leisure sector. He holds a degree in Economics and Politics from the University of Bath, completed the Oxford Fintech Programme at Oxford Saïd Business School, and is an Associate of the Chartered Institute of Securities and Investment UK.
Hugh Bickerstaff is a Venture Partner at Vulpes Ventures, joining at the launch of its first VSOF fund. He previously served as Global Chief Investment Officer for Investible, where he helped build Club Investible in Australia and Singapore and launched the firm's first early-stage venture capital fund. Before becoming an investor, he spent over 30 years in Australia's technology industry building and launching technology companies, and he is a Harvard Business School alumnus.
Jani Rautiainen works with the Vulpes team to qualify and manage investments, drawing on his experience growing technology companies in South East Asia, and serves on the firm's Investment Committee. He founded PropertyGuru, an online real estate marketplace in South East Asia now listed on the NYSE, which he grew to operations in 5 countries and over 1,000 employees across a decade. He has built online and mobile products since the mid-1990s and previously founded two other startups. He holds an MBA from INSEAD and an MSc in Computer Science from Helsinki University of Technology.
Phi Nguyen is a venture partner at Vulpes Ventures, where he recommends deals, advises on due diligence, and supports portfolio companies, with a focus on Vietnam and Southeast Asia expansion, marketing, B2B, and social networks. He co-founded Hiip, an influencer platform, and scaled it from Vietnam across Thailand, Indonesia, the Philippines, Singapore, and Malaysia beginning in 2016, following earlier leadership roles at companies in Vietnam and Malaysia. He holds a Bachelor of Business Administration from Vietnam National University HCMC.
Chee Seng Ng joined Vulpes in 2019 and leads its operations and compliance functions. He previously worked as a Fund Controller at hedge fund Alphadyne Asset Management (now Astignes Capital Asia) and began his career at Citco Fund Services, moving from Fund Accountant to Account Manager. He holds a Bachelor of Science in Banking and Finance from the University of London.
Founder mafia
2 people who came through Vulpes Ventures went on to found or lead other companies.
What they invest in
from 31 of 50 portfolio companiesSaaS ×17AI & Machine Learning ×11Enterprise Software ×11Fintech ×7Consumer ×5FoodTech ×5Marketing Tech ×5Marketplaces ×4
HQs:Singapore×6Vietnam×4Philippines×3Australia×2United States×2United Arab Emirates×1
Who they back
founder profiles across 18 portfolio companiesFounding team size:solo founder×92 founders×63 founders×14+ founders×2
Where their founders studiedfrom 17 founders with education data
Harvard Business School ×2
What their founders studiedfrom 18 founders with field-of-study data
Business & Management ×6Engineering ×5Computer Science ×4Finance & Accounting ×4Design & Architecture ×2Economics ×2
Investments · 50 tracked
founders shown can be your intro pathBy year:2026 · 22025 · 12023 · 22022 · 22021 · 29 dated
Oxford BioDynamics develops precision clinical diagnostic blood tests for detecting cancer and predicting treatment response in cancer patients, using its proprietary 3D genomic biomarker platform.
BiotechDigital HealthMedical DevicesOxford, GB
Alexandre Akoulitchev(Director)Jon Burrows(Chief Executive Officer)inPaul Stockdale(Chief Financial Officer)
BoardDavid Holbrook(Director)Matthew Wakefield(Director)
Board seatStephen Diggle· per SEC Form D · $5M raise · filed Nov 2021
Co-investorsSeneca Partners
Ampverse provides gaming marketing services—including influencer talent, esports, events, media and virtual worlds—connecting brands and game publishers with gaming audiences.
GamingMarketing TechMedia & Entertainment
Charlie Baillie(Chief Executive Officer)inTim Roemer(Chief Operating Officer)in
Co-investorsFirestartrGandel InvestAnterra Capital
Aqwire provides payment processing and orchestration solutions for enterprises, offering dashboard tools, API integration, and auto-debit capabilities to manage transactions.
Enterprise SoftwareFintechSaaS
Co-investorsIdeaspace VenturesManila Angel Investors NetworkSpiral Ventures
Avarni provides AI-powered software that helps finance, compliance and sustainability teams measure supply-chain carbon emissions and meet sustainability reporting regulations.
CleantechClimate TechEnterprise SoftwareSaaSAustralia, AU
Misha(Co-founder)inAnuj(Co-founder)in
Co-investorsAfterWork VenturesCommon Sense VenturesMain Sequence VenturesSprint Ventures
CardUp is a payments solution provider that enables businesses and individuals to make and receive payments digitally, with capabilities including card payments to non-card recipients, online payment acceptance, and invoice automation tools.
Enterprise SoftwareFintechSaaSSingapore, SG
Nicki Ramsay(Founder and CEO)
Chope operates a restaurant reservation platform with a consumer app for diners to book tables and a rewards program ("Chope-Dollars"), alongside tools for restaurants.
ConsumerFoodTechMarketplaces
Co-investorsDSG Consumer PartnersFrontier VenturesOpenspace VenturesSingha VenturesSquare Peg Capital
Citics operates a real estate valuation platform that digitizes fragmented property data sources and applies proprietary algorithms to value real estate assets.
Data & InfrastructureFintechPropTechHo Chi Minh City, VN
Long Trần Minh(Founder)in
Co-investorsAiViet VentureThe Ventures CoNextransTheVenturesVulpes Investment Management
CloudEats operates cloud kitchens that build delivery-optimized virtual food brands, each targeting a specific consumer persona, using proprietary technology with API integrations to major delivery platforms.
ConsumerFoodTechLogistics & Supply ChainManila, PH
Co-investorsNordstarGobi PartnersJungle Ventures
Cyabra's Authenticity Analysis product detects fake accounts and AI-generated content in social conversations using proprietary algorithms and behavioral analysis.
AI & Machine LearningCybersecurityEnterprise SoftwareMarketing TechSaaSTel Aviv
Dan Brahmy(Chief Executive Officer)inYossef Daar(Founder)inYael Sandler(Chief Financial Officer)Yossef Daar(Chief Product Officer)Michael Richard Pompeo(Director)Sonny Vu(Director)
Co-investorsIneffable VenturesMaccabee VenturesOurCrowdTAU Ventures
Dexibit provides big data analytics and artificial intelligence tools to visitor attractions such as museums, galleries, theme parks, and stadiums to predict and analyze visitor behavior.
AI & Machine LearningData & InfrastructureSaaS
Angie Judge(Founder)
BoardRick(Chair)
Co-investorsArc AngelsCreative HQ — The IncubatorIcehouse VenturesInvestible Climate Tech FundNZ Growth Capital Partners
FileInvite provides an automation layer for document collection in commercial lending, helping banks, credit unions, and other lenders reduce document turnaround times and improve borrower experiences.
Enterprise SoftwareFintechSaaSBroomfield, US
James Sampson(Founder and CEO)in
Co-investorsAfterWork VenturesAngel HQArc AngelsEnterprise AngelsForefront VentureIcehouse Ventures+2 more
Foodmap is a Vietnamese online marketplace for food and beverage products, including gift boxes and alcoholic beverages, requiring age verification for purchases.
E-commerceFoodTechMarketplaces
Anh Doan Tu(Founder)inPham Ngoc Anh Tung(Founder)
Co-investorsCapria VenturesWavemaker Partners
Funding Societies is a Southeast Asian digital financing and debt investment platform providing short-term business loans to SMEs, funded by individual and institutional investors.
FintechSaaSSingapore, SG
Kelvin Teo(Founder)inReynold Wijaya(Founder)inKelvin Teo Reynold Wijaya(Founder)
Co-investors500 GlobalAlpha Startups Pre-AcceleratorGobi PartnersGolden Gate VenturesPeak XV PartnersQualgro+7 more
Hiip helps brands build consumer awareness, trust, and loyalty across Southeast Asia through technology-enabled relationship management.
AdTechAI & Machine LearningConsumerCreator EconomyMarketing TechSaaSSingapore, SG
Phi Nguyen(Founder)in
Co-investorsCocoon Capital500 GlobalExpara
Mize provides hotel rebooking technology that automatically detects room price drops after a booking is made and rebooks at the lower rate to capture savings.
AI & Machine LearningSaaSTravel & Hospitality
Co-investorsBrilliance VenturesGobi Partners
Kaso develops supply chain optimization solutions for restaurants and suppliers to reduce food waste.
AI & Machine LearningB2B MarketplacesEnterprise SoftwareFoodTechImpact & Social GoodLogistics & Supply ChainMarketplacesSaaSDubai, AE
Manar Alkassar(Founder)inAhmed Soliman(Founder)Ohood Sabbagh(HR Specialist)Vibha Shetty(Recruiter)Tyler Bailey(HR Manager)Frank Biedka(CTO)
Co-investorsBY Venture PartnersHALA VenturesMSA NovoPioneerY CombinatorCyfr Capital+3 more
M Village operates a chain of hotels and accommodations in Vietnam, offering room bookings, a loyalty rewards program, and services for hotel property owners.
ConsumerTravel & Hospitality
Co-investorsAccess VenturesGenesia Ventures
MyRobin is an Indonesian platform focused on staff recruitment and workforce management, helping businesses hire and manage workers more efficiently.
B2B MarketplacesFuture of WorkHR TechJakarta, ID
ardy satria hasanuddin(Founder)in
Co-investorsAccionAngelCentralAntlerInvestible Climate Tech FundSOSVAccion Venture Lab+3 more
Nexl provides a platform for lawyers and law firms to manage client relationships, automate business development tasks, and track interactions without manual CRM data entry.
AI & Machine LearningEnterprise SoftwareLegalTechMarketing TechSaaSSales Tech
Co-investorsEVPLegalTechShearwater Capital
Peddlr is a Philippine software company offering a mobile business management app for micro and small merchants in Southeast Asia.
Enterprise SoftwareSaaS
Nel LaygoinQueenie Rayos
Co-investors500 GlobalFoxmont Capital PartnersIgnite House of InnovationKaya FoundersPatamar CapitalCrestone Venture Capital+2 more
Jani Rautiainen(Founder)Steve Melhuish(Founder)
Co-investorsSquare Peg Capital
Propseller is a real estate agency in Singapore that helps clients sell and buy residential property (HDB and private/condo) through dedicated licensed agents, a low commission model, and a mobile app for tracking transactions.
MarketplacesPropTechSingapore, SG
Adrien Jorge(Founder)in
Co-investorsHustle FundICCP Venture PartnersITERATIVEPartech VenturesVertex Ventures Sea Management Pte. Ltd.Vertex Ventures+2 more
Sharesies is an investment platform that allows customers to buy and sell shares, ETFs, managed funds, and cryptocurrencies across New Zealand, US, and Australian markets, with features including auto-invest, AI-powered search, and portfolio management tools.
ConsumerCrypto & Web3FintechAuckland, NZ
Leighton Roberts(Founder)inBen Crotty(Founder)inMartyn Smith(Founder)inBrooke Roberts(Founder)Richard Clark(Founder)Sonya Williams(Founder)
Co-investorsAmplo VenturesArc AngelsCreative HQ — The IncubatorEven CapitalIcehouse VenturesNZVC+2 more
ShowHeroes offers content video solutions for publishers, supplying editorial video selections and a recommendation engine that matches videos to articles.
AdTechAI & Machine LearningMarketing TechMedia & EntertainmentBerlin, DE
Ilhan ZenginMario TiedemannDennis Kirschner
Co-investorsArmada Investment AGCavalry Venturesredalpine
Pharma Edge is an investment portfolio focused on equity securities of pharmaceutical and healthcare companies, targeting both the US and Indian markets to capitalize on rising healthcare demand and patent expirations.
AI & Machine LearningBiotechFintechHealthtechSaaS
Smriti Tomar(Founder)in
Co-investorsCleo CapitalOlive Tree CapitalSoma CapitalSucSEED IndovationDialogue
Tigerhall offers an AI-driven platform for organizational transformation and change management, automating preparation work such as audience segmentation, communications personalization, and data analysis.
AI & Machine LearningEnterprise SoftwareFuture of WorkSaaS
Co-investorsMonk's Hill VenturesPeak XV PartnersTaurus VenturesSequoia CapitalVulpes Investment ManagementXA Network
Trax provides retail intelligence and execution software for global CPG brands, using image recognition to analyze shelf images and report on on-shelf availability, share of shelf, pricing, and promotional compliance.
AI & Machine LearningRetail TechSaaS
Gary Laben(Chief Executive Officer)inJoel Bar-El(Co-founder)Dror Feldheim(Co-founder)
Co-investors1802 VenturesDigital HorizonDigital Horizon VCHaymaker VenturesSingha VenturesSmart Partnership Capital+9 more
Veremark provides continuous background screening, global verification, and compliance services for hiring teams across 180+ countries.
Enterprise SoftwareHR TechSaaS
Daniel Braithwaite(Founder)in
Co-investorsFelix JahnGresham House VenturesRed Beard VenturesSalica InvestmentsStage 2 CapitalACF Investors+1 more
VUIHOC is an online learning platform in Vietnam offering courses in subjects such as Math and Vietnamese language for primary and secondary school students, taught by experienced teachers.
EdTech
LAM DO(Founder)inDo Minh Thu(Founder)Do Ngoc Lam(Founder)Lam Do(Founder)
Co-investorsColopl NextDBJ CapitalDo Ventures Management, LlcTNBAuraBace
Zetaris develops a decentralized data analytics platform that enables organizations to perform analytics and AI operations without migrating their data.
AI & Machine LearningData & InfrastructureEnterprise Software
Vinay Samuel(Co-founder & CEO)inMichael Cimino(Co-founder)in
Co-investorsExto PartnersIn-Q-TelReinventure Group
ZUZU Hospitality provides property management software and revenue management tools for independent hotels, combining automated pricing, distribution across OTAs, and reservation management with human expertise.
PropTechSaaSTravel & HospitalitySingapore, SG
Co-investorsAC VenturesGolden Gate VenturesLatin LeapNSG VenturesTNBAuraWavemaker Partners+2 more
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
BetterplaceCloudwaveEureka AiFlexosGeosnapshotIntelligent Video Solutions IvsIntrepidIroncladJigSpaceManettas Seafood MarketModern VillageOscarPactSafePollenRoserxSlocoachThoughtfullTrace
Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.
Portfolio news
latest coverage across their companiesVeremark · finsmes.com · Feb 3, 2026
Frequently asked questions
- How many investments has Vulpes Ventures made?
- Vulpes Ventures has 50 tracked investments, including 3 dated in the last 24 months.
- What stage does Vulpes Ventures invest at?
- Vulpes Ventures invests at the Seed, Series A stages.
- What sectors does Vulpes Ventures focus on?
- Vulpes Ventures focuses on PropTech, SaaS, Sector Agnostic.
- Where is Vulpes Ventures located?
- Vulpes Ventures is headquartered in Singapore, SG.
- Does Vulpes Ventures lead rounds?
- Yes, Vulpes Ventures leads investment rounds.
- Who does Vulpes Ventures co-invest with?
- Vulpes Ventures most often shares deals with Arc Angels, Gobi Partners, Icehouse Ventures, among 104 tracked co-investors.
Images
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