Formation 8 Raises Its First Fund Of $448M To Plug Silicon Valley Startups Into Asian Conglomerates


Formation 8 wants to bring venture capital back to its roots: investing in solutions to hard technology problems that could change the world. It just raised its first fund of $448 million — but with a twist. Formation 8 plans to draw on its extensive network and local offices in Asia to win its portfolio of smart enterprise and energy technology companies’ huge deals with conglomerates in the region.

Specifically, Formation 8 is looking for “smart enterprise” startups that can help enormous companies like those that define Asia to make sense of the vast seas of data now available. Government, finance, healthcare, and business services can all fall within this net. Formation 8 also seeks energy companies that can transform the global energy value chain. It hopes startups can become platforms to maximize scalability and take advantage of the nimbleness their small size affords.


Formation 8 co-founder and partner Joe Lonsdale…

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