Incuba Venture

Incuba Venture

Incuba Venture was founded in 2018 by Alex Jiang and John L. Lee, who previously built and sold technology companies in Asia and North America. The capital backing the firm originates from those exits, though the specific family branch is not disclosed publicly. The office operates as a single-family office structure but accepts limited co-investment partners on select deals. The firm deploys capital across two primary channels: direct equity investments in early- to growth-stage technology companies, and fund commitments to venture capital and growth equity managers. Sector focus includes enterprise software, AI/ML, fintech, digital health, and climate tech. Confirmed portfolio companies include Nuro, an autonomous vehicle startup, and Bending Spoons, an app developer (per Incuba Venture's public statements). Geographically, the firm targets opportunities in North America, Southeast Asia, and East Asia, with offices in Palo Alto, San Francisco, New York, Hong Kong, Ho Chi Minh City, Seoul, and George Town. Total deployment has surpassed $200M as of 2025, with a team of approximately 15 investment professionals. The firm maintains a philanthropic arm, the Incuba Foundation, focused on education and climate initiatives. Recent activity: July 2024 — Co-led a $50M Series A round in a climate-tech startup, backed by Singapore's Temasek (per public record). A structural differentiator is Incuba Venture's hybrid model: it functions like a single-family office for its co-founders' capital while operating a separate co-investment fund for external families and institutional LPs. This allows the firm to pursue larger direct deals while maintaining the governance and speed characteristic of a family office.