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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, namely 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 reusable space launch vehicles for large payloads. It provides users with a platform that designs, manufactures, and launches advanced rockets and spacecraft and offer a range of services including satellite internet systems and missions to Mars. It also provides users with a trunk attached to the spacecraft, a parachute system, multiple engines, and oxygen-based propellants.
Key facts about SpaceX
- Founded Year: 2002
- Location: Hawthorne (United States)
- Valuation: $*****
- Stage: Series J
- Total Funding till date: $11.9B
- Employee Count: 18,419 as on Mar 31, 2026
- Investors: equitywestsecurities.com, TrueBridge and 240 Others
- Latest Funding Round: Series J, Jan 21, 2025, $*****
- Highlight: Editors' Pick
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: 5.27M SGD as on Dec 31, 2022
- Stage: Series C
- Total Funding till date: $200M
- Employee Count: 1,095 as on Feb 28, 2026
- Investors: LGT Capital Partners, CE Innovation Capital 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
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: 509 as on Mar 31, 2026
- Investors: Glynn Capital, Eniac Ventures and 18 Others
- Latest Funding Round: Series D, Apr 21, 2021, $*****
- Highlight: Editors' Pick
5. iKala
AI powered influencer marketing platform and cloud management solutions. It provides influencer search and analytics engine that includes solutions for influencer discovery, and campaign management. The platform provides an influencer campaign dashboard to track, analyze, and optimize the influencer campaigns. It also provides cloud management and migration solutions to manage the cloud resources. It also offers customizable cloud usage monitoring reports, allowing enterprises to access billing and usage trends for multiple cross cloud accounts.
Key facts about iKala
- Founded Year: 2011
- Location: Taipei (Taiwan)
- Stage: Series B
- Total Funding till date: $51.4M
- Employee Count: 51 - 200 as on Jul 17, 2025
- Investors: Hotung Investment Holdings, Wistron and 5 Others
- Latest Funding Round: Series B, Mar 26, 2024, $*****
- 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 | 3439 | ||
Nov 02, 2022 | United States | Seed | 1939 | [+2] | |
Jul 01, 2020 | Pakistan | Series A | 1712 | [+6] | |
Jul 01, 2020 | Pakistan | Series A | 6940 | [+6] | |
Jan 15, 2019 | Taiwan | Series A | 8297 |
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 |
|---|---|---|---|---|---|---|---|
75 | App-based platform providing last-mile B2C delivery services | 2014 | Singapore | Series E | eiggb{b | ||
66 | Provider of APIs to understand, search, and generate content | 2017 | San Francisco | Series D | tjtqcrq |
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
