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About ACE Capital
ACE Capital is a venture capital firm founded in 2016. It is primarily based out of Taichung, Taiwan. As of Dec 2022, ACE Capital has invested in 12 companies. It primarily invests in Series A round in Pakistan based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and FinTech. Most recently it participated in the $***** Series B round of Wavebridge Overall, ACE Capital portfolio has seen 2 unicorns and 1 IPO, namely SpaceX, Ninja Van and Thehive. A lot of funds co-invest with ACE Capital, with names like Quiet Capital sharing a substantial percentage of its portfolio.ACE Capital's List of Top Investments
ACE Capital has a portfolio of 12 companies, including 2 unicorns. Their most notable investments are in Wavebridge and Ninja Van.Their portfolio spans across United States, Indonesia, Pakistan and 4 more locations. They have invested in Enterprise Applications, High Tech, FinTech and 11 other sectors, across stages such as Series A, Seed and 2 more. Here is the list of top investments by ACE Capital:
1. SpaceX
Provider of advanced aerospace and space transportation services. It delivers advanced launch services using reusable rocket systems designed to transport crew and cargo for missions to orbit, the Moon, Mars, and deep space exploration. It also develops and operates large-scale satellite networks that provide high-speed, low-latency internet connectivity across the globe, including remote and underserved regions. It supports human spaceflight programs aimed at expanding long-duration space exploration and increasing access to space for both commercial and governmental missions.
Key facts about SpaceX
- Founded Year: 2002
- Location: Hawthorne (United States)
- Stage: Public
- Total Funding till date: $11.9B
- Employee Count: 20,561 as on Jul 31, 2026
- Investors: TrueBridge, equitywestsecurities.com and 269 Others
- Latest Funding Round: Series J, Mar 17, 2026, $*****
- Highlight: Public
2. Aspire
Digital bank for businesses. Its services include current accounts, NFC-enabled prepaid cards, money transfers, cash withdrawals, and more. It provides a business line of credit. It also provides financial tools to SMEs in order to solve cash flow management and working capital needs. The application is available on the Android and iOS platforms.
Key facts about Aspire
- Founded Year: 2018
- Location: Singapore (Singapore)
- Annual Revenue: SGD 1M - 10M as on Dec 31, 2022
- Stage: Series C
- Total Funding till date: $200M
- Employee Count: 1,152 as on Jul 31, 2026
- Investors: CE Innovation Capital, For Good Ventures and 35 Others
- Latest Funding Round: Series C, Feb 14, 2023, $*****
- Highlight: Editors' Pick
3. Ninja Van
App-based platform providing last-mile B2C delivery services. Enterprises, e-stores, and businesses can register on the platform and select doorstep delivery services for their packages. It is a provider of logistics and courier services solutions, utilizing technology and cutting-edge innovation in the industry. They can create orders, track shipments, upload bulk orders, enter shipping details, schedule deliveries, and receive customer payments.
Key facts about Ninja Van
- Founded Year: 2014
- Location: Singapore (Singapore)
- Annual Revenue: SGD 500M - 1B as on Jun 30, 2024
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $1.1B
- Employee Count: 4,861 as on Jul 31, 2026
- Investors: Grab, GeoPost and 35 Others
- Latest Funding Round: Conventional Debt, Oct 16, 2024, $*****
- Highlight: Editors' Pick
4. Thehive
Provider of APIs to understand, search, and generate content. It offers a cloud-based AI solutions to understand, search, and generate content for developers with a portfolio a number of pre-trained AI models. It also provides pre-trained models or APIs for NSFW detection, face detection, celebrity recognition, gender detection, and more.
Key facts about Thehive
- Founded Year: 2017
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $85M
- Employee Count: 520 as on Jul 31, 2026
- Investors: Glynn Capital, Bracket Capital and 18 Others
- Latest Funding Round: Series D, Apr 21, 2021, $*****
- Highlight: Editors' Pick
5. GoWork
GoWork is a provider of managed co-working space. The company offers dedicated desks, private offices, event spaces, meeting rooms, and several other enterprise solutions. Some of the amenities provided are WiFi, printers, cafeteria, and business support, among others. The company earns revenue through its monthly subscription-based plans. Its mobile app is available for both Android and iOS devices.
Key facts about GoWork
- Founded Year: 2016
- Location: Jakarta (Indonesia)
- Stage: Series A
- Total Funding till date: $13M
- Employee Count: 189 as on Jul 31, 2026
- Investors: Convergence Ventures, Genesis Ventures and 18 Others
- Latest Funding Round: Conventional Debt, Feb 16, 2021, $*****
- Highlight: Editors' Pick
ACE Capital's Year-on-Year Investment Trends
ACE Capital has invested in 12 companies over the last 9 years, with an average of 0 new investment annually in the last 5 years. Its most recent first time investment was in Wavebridge.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 0 | 0 | 0 |
2023 | 0 | 0 | 0 |
2022 | 2 | 0 | 2 |
2021 | 0 | 0 | 0 |
2020 | 2 | 0 | 2 |
2019 | 1 | 0 | 1 |
2018 | 1 | 0 | 1 |
2017 | 1 | 0 | 1 |
ACE Capital's Investments by Stage
ACE Capital has made 3 investments in Series A stage with an average round size of $10M, 2 investments in Seed stage, 1 investment in Series B stage with an average round size of $7.8M and 1 investment in Series C stage with an average round size of $87M.Stage of entry | No. of Investments |
|---|---|
Series A | 3 |
Seed | 2 |
Series B | 1 |
Series C | 1 |
Note: We have considered here, only first round of investments
ACE Capital's Investments by Sector
ACE Capital has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, FinTech, Enterprise Infrastructure and Transportation and Logistics Tech. Notably, it has invested in 12 Tech companies, 10 Enterprise (B2B) companies, 8 Software companies and at least 5 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Consumer | 4 |
Enterprise Applications | 3 |
FinTech | 3 |
Enterprise Infrastructure | 2 |
Transportation and Logistics Tech | 2 |
Others | 8 |
Note: We have considered here, only first round of investments
ACE Capital's Investments by Geography
ACE Capital has made most investments in Pakistan (2), followed by Indonesia where it has made 1 investment.Country | No. of Investments |
|---|---|
Pakistan | 2 |
Indonesia | 1 |
Singapore | 1 |
South Korea | 1 |
Taiwan | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
ACE Capital's recent investments
ACE Capital has not made any investment in 2026 so far.Here are the most recent investments by ACE Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Dec 22, 2022 | South Korea | Series B | 1205 | ||
Nov 02, 2022 | United States | Seed | 7532 | [+2] | |
Jul 01, 2020 | Pakistan | Series A | 6397 | [+6] | |
Jul 01, 2020 | Pakistan | Series A | 3696 | [+6] | |
Jan 15, 2019 | Taiwan | Series A | 6490 |
Unicorns in ACE Capital's Portfolio
ACE Capital has 2 unicorns in its portfolio - Ninja Van and Thehive. The most recent unicorn in their portfolio is Ninja Van. It became a unicorn in 2021, 4 years after ACE Capital first invested in it.Here is a list of unicorns in ACE Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
67 | App-based platform providing last-mile B2C delivery services | 2014 | Singapore | Series E | lcucxgz | ||
67 | Provider of APIs to understand, search, and generate content | 2017 | San Francisco | Series D | ketdanv |
IPOs and Publicly Listed companies in ACE Capital's Portfolio
1 of ACE Capital's portfolio company became public - SpaceX. It got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Jun 2026 at marketcap of $996BHere are ACE Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 12, 2026 | - | - | 5486 |
Co-investors of ACE Capital
Over the past 9 years, 65 investors have co-invested in ACE Capital's portfolio companies. This includes funds and angels.
- Invested before ACE Capital: First Round Capital, Indus Valley Capital and 20 others have invested in rounds before ACE Capital. There are 2 companies where First Round Capital has invested before ACE Capital and 2 companies where Indus Valley Capital has invested before ACE Capital.
- Top Co-investors of ACE Capital: 16 investors entered a company along with ACE Capital. These include investors like Quiet Capital (2 companies).
- Invested after ACE Capital: A total of 27 investors have invested in ACE Capital's portfolio after their investments. Top Investors include Bangkok Bank (1 company), GXH Capital (1 company) and Hanwha (1 company).
Recent News related to ACE Capital
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Pakistan’s Airlift Raises $10m In Series A-1 Round, Enters Last-mile LogisticsDeal Street Asia•Jul 01, 2020•Airlift, Quiet Capital, TrueSight Ventures, RT Ventures and 7 others
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In brief: Indonesia’s Member.id scores pre-series A fundingTech in Asia•Sep 17, 2018•Member.Id, East Ventures, ACE Capital
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Southeast Asia logistics firm Ninja Van raises $85 mln for expansion-sourceReuters•Jan 23, 2018•Ninja Van, The Abraaj Group, B Capital, Goldman Sachs and 7 others
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Tech in Asia - Connecting Asia's startup ecosystemTech in Asia•Sep 08, 2017•Rework, ATM Capital Partners, Convergence Ventures, URWork and 3 others
