Feedback Ventures Research
Investment Thesis
Feedback Ventures is a Singapore-headquartered venture capital firm investing at the intersection of real estate and artificial intelligence across Asia Pacific. The firm's own positioning describes two "transformative domains shaping the next decade": the built environment and artificial intelligence. Its stated belief is that AI is now accelerating a transformation that began in real estate tech and fintech, powering the next generation of platforms across the built world and financial systems. The firm aspires to be "the partner of choice for founders building enduring, category-defining companies," emphasizing capital plus insight and strategic resources rather than capital alone. Public sources note LinkedIn registration in 2021, while the firm's own site and third-party profiles (Superscout, Altss) describe active investing "since 2023," suggesting a multi-year ramp from formation to full-time deployment.
Sector Focus
The portfolio is concentrated in proptech and adjacent building/construction technology (Rently, Silkhaus, Soho, Sucasa, Homebase, Pinhome, Storeganise, Smplrspace, Section L, Saola, Express Building, ConcreteAI), with a second cluster in fintech and financial infrastructure (Wagely for earned-wage access, Finalis for private-capital dealmaking infrastructure, and Cinch's device-financing model). A newer AI-native thread includes Diald (AI-driven property research and due diligence memos) and ConcreteAI (construction AI). IoT and energy-management plays for buildings appear via SensorFlow and Okapi Solar. Hivebotics suggests an emerging interest in robotics/automation adjacent to the built environment.
Stage Focus
Third-party aggregators (Superscout) describe Feedback Ventures as investing at pre-seed, seed, and seed-extension stages. In practice, the portfolio shows the firm both leading small early rounds (Diald's $3.75M early-stage round and its $1M follow-on were both described in press as "led by Feedback Ventures") and following as a minority participant in larger rounds led by others (Monk's Hill Ventures led Cinch's $28.8M debt-and-equity round; Orange Bloom led Rently's $3M pre-Series A). This suggests a flexible posture: check writer and occasional lead at the earliest stages, syndicate participant at growth-adjacent rounds for existing portfolio companies.
Check Size
No check size has been publicly disclosed by the firm or by data providers (Altss explicitly notes GP identities and deal terms are not public). Round sizes the firm has participated in range from roughly $1M (Diald follow-on) to $28.8M (Cinch, as a minority participant), implying a check size well below round totals for the larger deals.
Lead Tendency
Mixed. Feedback Ventures is credited as lead investor on Diald's early-stage and follow-on rounds, but appears as a smaller syndicate participant on Rently's and Cinch's larger rounds alongside firms like Monk's Hill Ventures, Orange Bloom, 1982 Ventures, and Z Venture Capital.
Recent Activity
Tracxn records 11 portfolio companies with the firm's most recent investment in Diald's Series A/follow-on (December 2025 and August 2026). Other 2025 activity includes the Rently pre-Series A (May 2025) and the Cinch debt-and-equity round (April 2025). The firm appears to average roughly one new first-time investment per year over the last three years, suggesting a small, selective deployment pace consistent with a lean team.
Portfolio Highlights
Cinch, a Singapore-based Device-as-a-Service platform, was named to the Forbes Asia 100 to Watch 2025 list and has scaled to 15,000+ active subscribers with $28.8M raised. Rently, a short-term rental platform, was valued at US$43M in its most recent round. Diald has built an AI-driven property research and due-diligence product for commercial real estate.
Team
- Ethan Cheng — Partner, Feedback Ventures (since July 2022 per his own LinkedIn profile), based in Singapore.
- Peter Lim — listed alongside Ethan Cheng as one of two "Key people" at Feedback Ventures per third-party organization trackers; exact title not independently confirmed.
LinkedIn lists the firm at 2-10 employees with 3 visible profiles, and Tracxn describes the investing team as a single partner, consistent with a lean, founder-facing operating model rather than a large partnership.
Decision Process
Given the very small team size (Tracxn: "1 people including 1 partners"), decisions likely rest with a solo GP or a two-person partnership rather than a formal investment committee. This is inferred, not publicly confirmed.
Founder Preferences
The firm's messaging emphasizes wanting founders to reach out via its own portfolio founders as references ("please reach out to our founders, who are our strongest advocates") and prioritizes "purpose and ambition" alongside technical execution. Superscout's founder-facing guide describes a preference for founders building real-world, impactful solutions in real estate tech, fintech, and now AI infrastructure supporting those verticals.
Geographic Focus
Headquartered in Singapore with a stated Asia Pacific mandate and particular strength in Southeast Asia (Singapore, Indonesia, Vietnam per Altss). The realized portfolio is broader than the stated mandate, however: Diald is based in Los Angeles, Silkhaus is based in Dubai, and Soho/Sucasa are Australian, indicating the firm follows compelling founders and syndicate opportunities somewhat beyond its core geography.