Archive · 5 Dec 2025
Incubate Fund Asia Plans Expansion in Tier 2, 3 Cities
Incubate Fund Asia is a company that helps new businesses grow by giving them money.
They are planning to start a new fund called Fund IV in early 2026.
With this fund, they want to support 10 to 15 new startups by the end of the financial year 2026.
They are especially interested in businesses that operate in smaller cities, called Tier 2 and Tier 3 cities, in India.
These businesses can be in areas like health technology, farming technology, financial technology, and online shopping.
They also like businesses that can grow quickly and make money without spending too much.
The company is led by a person named Nao Murakami, who believes that there are many opportunities in these smaller cities for new businesses to succeed.
They also plan to expand their work in Southeast Asia, focusing on countries like Indonesia.
Overall, they are excited about the growth potential in these regions and want to help new businesses that can make a big impact.
Incubate Fund Asia plans to launch Fund IV in early 2026, backing 10-15 startups by FY26.
The fund focuses on pre-seed and seed investments in India and Southeast Asia, with a strong interest in Tier 2 and Tier 3 cities.
Key investment areas include health-tech, agritech, fintech, e-commerce, and deeptech, with a preference for B2C and B2B2C models.
Initial investments range from $400,000 to $1 million, with follow-on investments for successful startups.
The fund evaluates startups based on the founder's conviction, market potential, and pathway to profitability.
- Who
- Incubate Fund Asia, founded by Nao Murakami
- What
- Plans to launch Fund IV and expand in Tier 2 and 3 cities
- When
- Early 2026
- Where
- India and Southeast Asia
- Why
- To capitalize on consumption, digitization, and formalization trends
- Fund Launch
- Early 2026
- Number of Startups
- 10-15
- Focus Areas
- Pre-seed and seed investments
- Target Regions
- India and Southeast Asia
- Preferred Business Models
- B2C and B2B2C
- Key Segments
- Health-tech, agritech, fintech, e-commerce, deeptech
- Founder Evaluation
- 70% of decision-making