Summary
In a feature with The Hindu Business Line, Nao Murakami shares our vision of backing founders building for the next 500 million consumers beyond Tier-1 cities, and the importance of governance and founder-market fit from day one
18 July, 2025
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Incubate Fund Asia founding partner Nao Murakami breaks down the firm’s fund thesis, target sectors, cheque sizes, and exit strategies — and why corporate governance matters more than ever
As global venture capital recalibrates in line with shifting macroeconomics, Incubate Fund Asia is doubling down on India’s underserved but rapidly rising middle-class, says founding partner Nao Murakami. With a third India-dedicated fund in deployment and a fourth on the horizon, the Singapore-headquartered fund is bullish on backing founders with the first institutional cheque, he says. Murakami breaks down the firm’s fund thesis, target sectors, cheque sizes, and exit strategies — and why corporate governance matters more than ever.
(Nao Murakami, Founding partner, Incubate Fund Asia)
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