Spectrum 28 Venture Fund Launches With $170 Million

 

MENLO PARK — Spectrum 28, a venture capital firm investing in companies disrupting long-standing industries, announced the close of its first fund, Spectrum Fund I, totaling $170 million. Co-founded by experienced investors and entrepreneurs, Kent Ho and Lyon Wong, the fund’s financial backers include a diversified group of financial institutions, multi-billion dollar family offices, and foundations from the US, Canada, Hong Kong and Singapore.

Spectrum 28 has begun investing in select sectors including finance, genomics / digital health, real estate / construction and emerging tech.  Current investments include Earnest, Plangrid, Collective Health, Duetto, Vitagene and Karius.

Previously, Kent and Lyon have been involved with more than 50 venture capital transactions ranging from the seed stage to growth equity stage.

Co-founder, General Partner, Kent Ho has an extensive background in venture, previously serving as co-founder and managing partner for Harbor Pacific Capital, a firm he co-founded out of Stanford GSB. He has spent extensive time both in the United States and Asia working seamlessly between the geographies.  Some of his most notable investments he was involved with include Palantir, Coupang, Clearcare and Evernote.

Co-founder, General Partner, Lyon Wong has venture capital experience that spans seed (SV Angel) to early-stage (Lightspeed Venture Partners) to late-stage (Meritech). He has also founded multiple companies and is an inventor of over 30 patents. Lyonis a graduate of University of Waterloo’s Systems Engineering and Stanford’s GSB. His notable investments include Affirm, Blend, Comprehend Systems, NextVR and Karius.

“Venture has largely remained the same for the past 40 years,” said Kent Ho, founding general partner.  “Firms typically wait for ideas to come to them. While that can work, we take a different approach. While we have traditional financial institutions as our limited partners, we are fortunate to have partnered with a variety of business leaders/owners as well, including some of the world’s largest retail chains, hotels, hospital networks and media properties.  Each of our partners recognizes the importance of innovation and have teamed up with us to embrace that change.”