About AppWorks
AppWorks is a venture capital firm founded in 2009. It is primarily based out of Taipei, Taiwan. As of May 2025, AppWorks is an active investor, having invested in 119 companies, with 12 new investments in the last 12 months. It primarily invests in Seed round in Taiwan based startups. Its investments are spread across a wide range of sectors from High Tech to Blockchain Technology and Enterprise Applications. Most recently it led the $8M Series A round of Tally along with Blockchain Capital. This round also saw participation from 1kx and other investors.
Overall, AppWorks portfolio has seen 5 unicorns, 4 IPOs and 4 acquisitions including key companies like Uber, Carousell and Dapper Labs. A lot of funds co-invest with AppWorks, with names like Dapper Labs sharing a substantial percentage of its portfolio.
AppWorks has team of 26 people including 8 partners.
Key Metrics
Team Members
, &
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A &
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
Rekosistem, Tally &
AppWorks' Year-on-Year Investment Trends
AppWorks has invested in 119 companies over the last 15 years, with an average of 5 new investments annually in the last 10 years. In 2024, it made 10 investments, while as of May 2025, it has made 6 investments in this year. Its most recent first time investment was in Rekosistem and most recent follow-on round was in Qoala.
Year | No. of Investments | ||
|---|---|---|---|
1stÌý¸é´Ç³Ü²Ô»å | Follow-on | Total | |
2025 (YTD) | 6 | 0 | 6 |
2024 | 9 | 1 | 10 |
2023 | 7 | 1 | 8 |
2022 | 5 | 0 | 5 |
2021 | 10 | 1 | 11 |
2020 | 6 | 2 | 8 |
2019 | 2 | 1 | 3 |
2018 | 1 | 0 | 1 |
2017 | 1 | 1 | 2 |
2016 | 5 | 2 | 7 |
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AppWorks' Investments by Stage
AppWorks has made 27 investments in Seed stage with an average round size of $3.94M, 24 investments in Series A stage with an average round size of $12.9M, 7 investments in Series B stage with an average round size of $23.2M, 3 investments in Series C stage with an average round size of $59.5M and 1 investment in Venture Debt stage with an average round size of $150K.Note: We have considered here, only first round of investments
Stage of entry | No. of Investments |
|---|---|
Seed | 27 |
Series A | 24 |
Series B | 7 |
Series C | 3 |
Venture Debt | 1 |
AppWorks' Investments by Sector
AppWorks has a diverse portfolio, with companies operating in the Consumer, High Tech, Enterprise Applications, FinTech and Blockchain Technology. Notably, it has invested in 105 Tech companies, 70 Consumer (B2C) companies, 54 Enterprise (B2B) companies and at least 35 companies focusing on Software.
Note: We have considered here, only first round of investments
Sector | No. of Investments |
|---|---|
Consumer | 24 |
High Tech | 20 |
Enterprise Applications | 19 |
FinTech | 17 |
Blockchain Technology | 16 |
Others | 92 |
AppWorks' Investments by Geography
AppWorks has made most investments in Taiwan (17), followed by Indonesia where it has made 11 investments.
Note: We have considered here, only first round of investments
Country | No. of Investments |
|---|---|
Taiwan | 17 |
Indonesia | 11 |
United States | 11 |
Singapore | 9 |
China | 6 |
Others | 9 |
AppWorks' recent investments
Here are the most recent investments by AppWorks:
Date | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
May 06, 2025 | Indonesia | Series A | $7M | ||
Apr 22, 2025 | United States | Series A | $8M | Blockchain Capital [+4] | |
Feb 27, 2025 | Vietnam | Series A | $28M | TNB Aura [+4] | |
Jan 24, 2025 | China | Series B | $11M | [+2] | |
Jan 14, 2025 | Indonesia | Seed | $5M | [+6] |
Get the detailed list of all investments by AppWorks. Download now!Unicorns in AppWorks' Portfolio
Here is a list of unicorns in AppWorks' portfolio:
ÃØÃÜÑо¿Ëù Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
54 | Online marketplace offering multi-category products | 2010 | Ho Chi Minh City | Series E | decttoy | ||
74 | Developer of blockchain-based PC and mobile games | 2006 | Kowloon | Series C | qsngptq | ||
68 | Online platform for the staking solution | 2018 | Toronto | Series C | vpzfzyq | ||
81 | Online marketplace platform offering multi-category second-hand products | 2012 | Singapore | Series E | iaqamfo | ||
75 | Blockchain-based games developer for PC and console | 2018 | Vancouver | Series D | jyaule{ |
IPOs and Publicly Listed companies in AppWorks' Portfolio
Here are AppWorks' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 08, 2023 | - | - | - | |
May 09, 2019 | - | - | - | |
Oct 31, 2016 | - | - | - | |
Sep 08, 2016 | - | - | - |
Acquired companies in AppWorks' Portfolio
Here are AppWorks' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 21, 2018 | Feb 01, 2023 | Series A | $15M | |
Dec 08, 2016 | - | - | - | |
Apr 14, 2015 | Feb 21, 2014 | Venture Debt | $150K | |
Apr 16, 2012 | - | - | - |
Team profile of AppWorks
AppWorks has a team of 26 membersÌýincluding 8 Partners and 9 PrincipalsÌýlocated in Taiwan, United States and . AppWorks' team does not sit on the board of any company as of now.Here is a list of top team members in AppWorks:
Name | Designation | Location | Board Memberships | Contact details |
|---|---|---|---|---|
Partner | Taipei | - | ||
Partner | Taiwan | - | ||
Partner | Taipei | - | ||
Partner | Taipei | - | ||
Partner | Taipei | - | ||
Partner | Taipei | - | ||
Partner | Taipei | - | ||
Partner | Taipei | - | - | |
Principal | Taipei | - | ||
Principal | Taipei | - | ||
Principal | Taipei | - |
Get the full list of AppWorks' team & partners for free. Download now!Co-investors of AppWorks
Over the past 15 years, 636 investors have co-invested in AppWorks's portfolio companies.
- Invested before AppWorks:ÌýEast Ventures, Samsung NEXT and 186 others have invested in rounds before AppWorks. There are 3 companies where East Ventures has invested before AppWorks and 2 companies where Samsung NEXT has invested before AppWorks.
- Top Co-investors of AppWorks:Ìý243 investors entered a company along with AppWorks. These include investors like Dapper Labs (3 companies).
- Invested after AppWorks:ÌýA total of 205 investors have invested in AppWorks's portfolio after their investments. Top Investors include EDBI (2 companies), Temasek (2 companies) and CDIB Capital Group (2 companies).
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Recent News related to AppWorks
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