Formation Group was started to back entrepreneurs with bold global visions. For years, our team has worked tirelessly towards this mission, particularly the bridging of innovation between Silicon Valley and Asia. Now, we are going beyond venture capital by establishing a company-building platform designed to accelerate the technology giants of the future.
Our first step in building this platform is Formation Group Fund I, with $357 million of commitments. By investing in a concentrated number of early and growth stage companies, this fund serves the critical function of developing deep relationships with visionary entrepreneurs. As these companies scale and seek major strategic growth opportunities, Formation Group provides capital, operational support and relationships to bring these opportunities to fruition. Fund I is one of many funding platforms and structures we provide to our entrepreneurs.
Our investment in Bowers & Wilkins is a prime example of this strategy, in which we enabled a small Silicon Valley startup (EVA Automation) to execute an unprecedented acquisition of an established, profitable, 50-year old iconic brand in Bowers & Wilkins. Together, EVA Automation and Bowers & Wilkins combine the best of Silicon Valley user experience technology with the pinnacle of audio quality and research. We led the financing of this combination and contribute significant ongoing operational and strategic assistance.
Thank you to the broader Formation Group family, including our amazing entrepreneurs and limited partners. We are excited to build the future together.
Enhancing the user experience of A/V in the smart home as a combined company with B&W, a 50-year old worldwide leader in premium home audio
Providing an on-demand grocery marketplace throughout Southeast Asia
Delivering live virtual reality experiences to the world
Creating beauty products based on data driven consumer insights
Powering the fastest transport, logistics, food delivery and shopping services in Indonesia