Earth Venture Capital has closed its first fund while brand aggregator Rainforest has acquired Millenium Enterprises including its flagship brand Naturebond.
Rainforest buys SG babycare brand Naturebond
Rainforest, Asia’s e-commerce brand aggregator, has completed the acquisition of Millenium Enterprises including its flagship brand Naturebond, Singapore’s baby care brand, according to an announcement.
Company founder Jeffrey Chua will join Rainforest as an advisor.
Founded in 2016, NatureBond currently holds 31 patents globally and distributes its products to over 10 million consumers in 22 countries.
NatureBond joins Rainforest’s portfolio of over 13 cross-border brands in the modern mum, kids, baby care and home categories.
Rainforest, Asia’s first e-commerce aggregator, was started by former executives of the used-goods marketplace Carousell and fintech firm Fave.
The company intends to deploy over $100 million this year towards further acquisitions to grow its portfolio.
Last year, Rainforest announced its formal launch with a seed funding of $36 million. The funding round was led by UK-based Nordstar Partners, with participation from Insignia Ventures Partners.
Earth Venture Capital closes debut fund
Early-stage investor Earth Venture Capital, a global venture capital fund investing in digital solutions to tackle climate change, has closed its first fund.
The fund will cut cheque sizes ranging between $500,000 and $3 million.
The fund will target startups working on scalable solutions to solve climate challenges. The VC firm has launched Earth Venture Studio in Vietnam to tap the startups in the region.
“Currently, organisations around the world are having many approaches to combat climate change. Earth Venture Studio chooses venture capital investment and empowering Vietnamese tech startups as a solution to tackle the climate crisis. Because the ultimate goal of investment is to bring prosperity, but there is no prosperity on a dead planet,” said EVC co-founder and general partner Tien Nguyen.
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