Singapore-based VC firm KK Fund has announced a new partnership with the Singapore brand of Industrial Growth Platform Inc. (IGPI Singapore) to launch an acceleration program in early 2021.

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Under the partnership, the three- to six-month program called SEA Point will help large corporates create new businesses in collaboration with Southeast Asian startups and conglomerates.

To support this, KK Fund will contribute its experience in startup support and technology investment, while IGPI Singapore will supply its corporate transformation knowledge for large companies in Japan and Southeast Asia.

“There are many accelerator programs for startups in Southeast Asia, but there are none for bigger companies who want to invest in new businesses or create their own startups for vertical integration purposes, especially in new markets,” said Koichi Saito, general partner of KK Fund.

According to the company, Southeast Asia is home to over 70 million small and medium-sized enterprises. And with the region’s internet economy expected to hit US$300 billion by 2025, Southeast Asia will be a “focal point” for international business expansion. This will provide cross-industry opportunities for collaboration and growth, specifically in social infrastructure development and SME consolidation.

Created in 2015, KK Fund is an early-stage and Southeast Asia-focused venture capital fund. The firm said it has invested in over 20 mobility and internet-related seed-stage startups in the region across industries such as fintech, logistics, and healthcare.

Some of its portfolio companies include furniture e-tailer Fabelio, insurtech startup PolicyStreet, and recruitment platform JobHopin, among others.

Meanwhile, founded in Tokyo in 2007, IGPI is a management consultancy firm with offices in Tokyo, Singapore, Hanoi, Melbourne, and Shanghai.