Iterative is a Singapore-based early-stage venture capital firm and accelerator focused on Southeast Asia. The firm was founded in 2019 by Brian Ma and Hsu Ken Ooi, two operators with deep roots in Silicon Valley and Y Combinator's extended network. It operates on a cohort-based model similar to Y Combinator, running batches of early-stage startups through a structured program before connecting them with follow-on capital.
The firm targets pre-seed and seed-stage companies, with a geographic emphasis on Southeast Asia – particularly Singapore, Indonesia, Vietnam, the Philippines, and Malaysia. Check sizes are typically small by global standards, reflecting the early stage of deals. Iterative's model is hands-on: founders receive operational support, access to a regional network, and introductions to institutional investors for Series A rounds. Total AUM has not been publicly disclosed as of early 2026.
Notable investments
Iterative's broader portfolio spans fintech, B2B SaaS, and consumer technology across Southeast Asia. Their crypto and blockchain investment activity is limited – the firm has made approximately five known investments in the digital assets space. Public information about specific crypto portfolio names is limited, and Iterative does not publicly list all holdings. Investors looking for a complete current portfolio can review the official portfolio page.
Team
Hsu Ken Ooi previously served as a partner at Y Combinator, where he focused on Southeast Asian founders. His background gives Iterative a direct link to YC's alumni network and deal-sourcing model. Brian Ma co-founded Divvy Homes, a real estate fintech company, and previously held product roles at Zillow. Together they bring a blend of operational and investor experience. The team is small and deliberately so – the model prizes founder relationships over portfolio size.
Recent activity
Between 2024 and early 2026, Iterative continued running accelerator batches targeting Southeast Asian founders. The firm has stayed consistent in its early-stage focus. No major fund closes or strategic pivots were announced publicly in this period. Public information about recent crypto-specific deals or any fund size update is limited.
Iterative occupies a clear niche: it brings a Silicon Valley accelerator playbook to one of the world's fastest-growing internet regions. For crypto projects with Southeast Asian distribution ambitions – particularly in Indonesia and Vietnam, where retail crypto adoption is high – the firm's regional network is the main draw. Its small crypto portfolio reflects a selective rather than thesis-driven approach to digital assets.