SIP Global Partners (SIP), a cross-border VC firm with a presence in New York, Boston, Tokyo, and Riyadh, has announced the first close ($75M) of its debut fund.
SIP invests in breakout early-stage US technology companies and supports their expansion across MENA and Asia. The VC provides US startups a unique entry point to scalable market opportunities in these regions.
The debut fund invests in companies across three key themes: Creativity (AR/XR, synthetic media, web-based platforms), Productivity (AI/ML, edge computing/IoT, semiconductors), and Safety (digital health, information security). To date, it has made five investments for its debut fund.
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SIP was launched by four veteran operators and investors: Matthew Salloway (NY, MENA), Shigeki Saitoh (Tokyo), Justin Turkat (Tokyo), and Jeffrey Smith (Boston).
Matthew Salloway, Co-Founder and Managing Partner of SIP Global Partners commented, “We’re excited about opportunities for US startup companies in MENA with the region’s commitment to world-class connected infrastructure and non-oil diversification. In fact, we’re one of a select group of companies that is officially licensed by the Saudi Ministry of Investment through the venture initiative to help bring our portfolio companies into the region.
"At the same time, we are watching the ecosystem in MENA grow considerably and hope our platform/technologists/cross-border team, locally and abroad, can also contribute to growth locally and be a trusted partner in the region.
Jeffrey Smith, SIP Global Partners General Partner said, “We’ve dedicated our careers to cross-border business across the US, MENA, and Asia as operators and investors, and we’ve only seen this demand for market access to these regions grow over the last several years."
The current portfolio includes: Fable, a web-based, full-stack motion design tool; Croquet, an ultra- low latency, collaboration platform; Tilt Five, an AR platform set to revolutionize gaming; Parallel Wireless, a next-generation O-RAN technology company; and KINETIC, an industrial IoT technology focused on workplace safety and productivity.
Matthew Salloway shared how SIP handles the investment process, "Our integrated team sources a highly targeted pipeline in the US as we assess significant market demand internationally. We then conduct due diligence of US startups and add value post-investment on a local and global scale by leveraging our network of end-users across the US, MENA, and Asia."
Justin Turkat, SIP Global Partners Co-Founder and Managing Partner added, “We’re very excited about our initial portfolio and look forward to supporting our startups as a trusted in partner across the US, MENA, and Asia. Though international travel is limited today due to the COVID-19 pandemic, opportunities in Asia and MENA persist, and we look forward to helping companies unlock those opportunities.”
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