About Mistletoe
Mistletoe is a venture capital firm founded in 2014. It is primarily based out of Singapore, Singapore. As of Nov 2024, Mistletoe has invested in 93 companies. It primarily invests in Seed round in Japan based startups. Its investments are spread across a wide range of sectors from Food and Agriculture Tech to Enterprise Applications and High Tech. Most recently it participated in the $***** Series D round of Aquaria Overall, Mistletoe portfolio has seen 3 unicorns, 3 IPOs and 9 acquisitions including key companies like Sea, Liquid and Zoox. A lot of funds co-invest with Mistletoe, with names like East Ventures sharing a substantial percentage of its portfolio. Mistletoe has team of 17 people including 7 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 3 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Soonicorns
Mistletoe's List of Top Investments
Mistletoe has a portfolio of 93 companies, including 3 unicorns. Their most notable investments are in Classting and Skin.Their portfolio spans across Japan, United States, India and 11 more locations. They have invested in Food and Agriculture Tech, Enterprise Applications, High Tech and 29 other sectors, across stages such as Seed, Series A and 3 more. Here is the list of top investments by Mistletoe:
1. Sea
Provider of digital entertainment, e-commerce, and digital financial service platforms. The company develops and publishes online games for global audiences. It also operates an e-commerce platform facilitating buying and selling. Furthermore, the company digitalizes financial services through its platform.
Key facts about Sea
- Founded Year: 2006
- Location: Singapore (Singapore)
- Stage: Public
- Total Funding till date: $721M
- Employee Count: 3,733 as on Sep 30, 2026
- Investors: Khazanah Nasional Berhad, Gov.sg and 22 Others
- Latest Funding Round: Series E, May 07, 2017, $*****
- Highlight: Public
2. Liquid
Liquid provides an online exchange platform for digital assets. Offers crypto-to-crypto, fiat-to-crypto, and crypto-to-fiat exchange service. It supports various cryptocurrency pairs such as Bitcoin, Ethereum, Litecoin, etc. It also offers financial services and cryptocurrency liquidity. It features an app-based platform that is available for both Android and IOS devices.
Key facts about Liquid
- Founded Year: 2014
- Location: Japan
- Annual Revenue: SGD 10M - 50M as on Mar 31, 2019
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $20M
- Employee Count: 13 as on Sep 30, 2026
- Investors: Mistletoe, BITMAIN and 14 Others
- Latest Funding Round: Conventional Debt, 2021, $*****
- Highlight: Acquired
3. Healthians
Online platform for at-home diagnostic tests and health checkups. It offers full body checkups and blood tests with home sample collection and report counseling. The platform leverages technologies to deliver at-home diagnostic tests, scan tests, and doctor consultations for customized diet-cum-nutrition plans. It is an online platform providing at-home diagnostic health test services, leveraging a technology-driven healthcare matrix to deliver quick and accurate medical checkups. It facilitates free home sample collection and smart reports from NABL-accredited labs, offering real-time updates to users.
Key facts about Healthians
- Founded Year: 2013
- Location: Gurugram (India)
- Annual Revenue: ₹100 - ₹500 Cr as on Mar 31, 2026
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $80.1M
- Employee Count: 1,730 as on Oct 31, 2025
- Investors: WestBridge Capital, Evolvence Equity Partners and 63 Others
- Latest Funding Round: Grant (prize money), 2022, $*****
- Highlight: Editors' Pick
4. Zoox
Platform offering operator of autonomous vehicle passenger service designed for urban environments. The service focuses on providing transportation within defined service areas. The vehicles are designed to accommodate multiple passengers. The company adheres to safety standards and regulatory requirements.
Key facts about Zoox
5. Zipline
Operator of drone delivery and logistics. It supports local communities on a global scale.
Key facts about Zipline
- Founded Year: 2011
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series H
- Total Funding till date: $1.63B
- Employee Count: 23 as on Sep 30, 2026
- Investors: K2 Global, StraightPath Venture Partners and 66 Others
- Latest Funding Round: Series H, Aug 17, 2026, $*****
- Highlight: Editors' Pick
Mistletoe's Year-on-Year Investment Trends
Mistletoe has invested in 94 companies over the last 15 years, with an average of 4 new investments annually in the last 10 years. Its most recent first time investment was in Aquaria and most recent follow-on round was in WASSHA.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 2 | 0 | 2 |
2023 | 0 | 0 | 0 |
2022 | 8 | 2 | 10 |
2021 | 3 | 3 | 6 |
2020 | 4 | 1 | 5 |
2019 | 4 | 2 | 6 |
2018 | 6 | 2 | 8 |
2017 | 7 | 1 | 8 |
Mistletoe's Investments by Stage
Mistletoe has made 26 investments in Seed stage with an average round size of $1.85M, 13 investments in Series A stage with an average round size of $14.4M, 7 investments in Series B stage with an average round size of $9.31M, 3 investments in Series D stage with an average round size of $112M and 2 investments in Series C stage with an average round size of $39.3M.Stage of entry | No. of Investments |
|---|---|
Seed | 26 |
Series A | 13 |
Series B | 7 |
Series D | 3 |
Series C | 2 |
Note: We have considered here, only first round of investments
Mistletoe's Investments by Sector
Mistletoe has a diverse portfolio, with companies operating in the Enterprise Applications, Food and Agriculture Tech, Consumer, High Tech and Sustainability Tech. Notably, it has invested in 69 Tech companies, 49 Consumer (B2C) companies, 48 Enterprise (B2B) companies and at least 32 companies focusing on Software.Sector | No. of Investments |
|---|---|
Enterprise Applications | 15 |
Food and Agriculture Tech | 11 |
Consumer | 10 |
High Tech | 10 |
Sustainability Tech | 7 |
Others | 50 |
Note: We have considered here, only first round of investments
Mistletoe's Investments by Geography
Mistletoe has made most investments in Japan (15), followed by United States where it has made 14 investments.Country | No. of Investments |
|---|---|
Japan | 15 |
United States | 14 |
India | 7 |
Singapore | 5 |
Estonia | 3 |
Others | 8 |
Note: We have considered here, only first round of investments
Mistletoe's recent investments
Mistletoe has not made any investment in 2026 so far.Here are the most recent investments by Mistletoe:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Nov 20, 2024 | United States | Series D | 8276 | [+5] | |
May 15, 2024 | Singapore | Series A | 1636 | - | |
Dec 14, 2022 | United States | Series A | 5430 | ||
Nov 16, 2022 | Australia | Seed | 8480 | [+7] | |
Jun 23, 2022 | Japan | Seed | 1845 | [+1] |
Unicorns in Mistletoe's Portfolio
Mistletoe has 3 unicorns in its portfolio - Playco, Zipline and Garena. The most recent unicorn in their portfolio is Playco. It became a unicorn in 2020.Here is a list of unicorns in Mistletoe's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
57 | Developer of social web games for PC and console | 2020 | Tokyo | Series A | znvmg{{ | ||
65 | Operator of drone delivery and logistics | 2011 | San Francisco | Series H | wwpevvx | ||
65 | Mobile entertainment and communication | 2007 | - | Series E | nmmmelb |
IPOs and Publicly Listed companies in Mistletoe's Portfolio
3 of Mistletoe's portfolio companies have become public. Flier got listed on the Tokyo Stock Exchange (TSE), in Feb 2025 at marketcap of $13.8M and Astroscale got listed on the Tokyo Stock Exchange (TSE) at marketcap of $495M.Here are Mistletoe's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 20, 2025 | Nov 27, 2013 | Seed | 5356 | |
Jun 05, 2024 | Jan 2015 | Series A | 8469 | |
Oct 20, 2017 | Sep 05, 2016 | Series D | 7917 |
Acquired companies in Mistletoe's Portfolio
9 companies from Mistletoe's portfolio have been acquired. The most recent acquisition was Liquid in Jul 2024 by bitFlyer for $*****.Here are Mistletoe's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 26, 2024 | Jun 27, 2016 | Series B | 1394 | |
May 04, 2023 | Mar 30, 2017 | Series A | 7302 | |
Apr 04, 2022 | - | - | 2496 | |
Mar 16, 2022 | Dec 06, 2018 | Series C | 2801 | |
Mar 16, 2022 | Jul 05, 2021 | Series A | 4869 |
Team profile of Mistletoe
Mistletoe has a team of 17 members including 7 Partners and 1 Principal located in Singapore and Japan. Mistletoe's team sits on the board of 1 company.Here is a list of top team members in Mistletoe:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Japan | |||
Partner | Tokyo | - | ||
Partner | Singapore | |||
Partner | Ishikawa | - | ||
Partner | Singapore | - | ||
Partner | Singapore | - | - | |
Partner | Singapore | - | ||
Principal | Singapore | - | - |
Co-investors of Mistletoe
Over the past 15 years, 479 investors have co-invested in Mistletoe's portfolio companies. This includes funds and angels.
- Invested before Mistletoe: Gov.sg, General Atlantic and 156 others have invested in rounds before Mistletoe. There are 2 companies where Gov.sg has invested before Mistletoe and 2 companies where General Atlantic has invested before Mistletoe.
- Top Co-investors of Mistletoe: 165 investors entered a company along with Mistletoe. These include investors like East Ventures (3 companies).
- Invested after Mistletoe: A total of 156 investors have invested in Mistletoe's portfolio after their investments. Top Investors include Mizuho Financial Group (3 companies), Farallon Capital Management (2 companies) and Hillhouse (2 companies).
Recent News related to Mistletoe
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Aquaria Raises $112M to Bring Sustainable Water from the Sky to Communities and Cities Around the Worldintelligence360•Dec 03, 2024•Aquaria, Mistletoe, CIRI Ventures, Soma Capital and 2 others
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Aquaria pockets $112M funding to address global water crisisTech Funding News•Nov 21, 2024•Aquaria, Mistletoe, CIRI Ventures, Soma Capital and 4 others
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UK-based Funderbeam secures €36.1M to address liquidity issues of angel, venture investmentsSilicon Canals•May 04, 2023•Funderbeam, VentureWave Capital, Mistletoe, Draper
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VentureWave acquires majority stake in FunderbeamFinextra•May 04, 2023•VentureWave Capital, Funderbeam, Mistletoe, Draper
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