Southeast Asia-focused venture capital firm Kejora Ventures has reached a first close for Kejora Star Capital II with US$21 million in capital commitments. Investors in the fund include Indonesia-based diversified industrials group Barito Pacific, Thailand-based conglomerate Charoen Pokphand Group and Germany-based Hubert Burda Media. The fund, which is targeting US$50 million to US$80 million in total commitments, will focus on Thailand, Philippines, Malaysia, Singapore and Indonesia and invest between US$3 million and US$5 million per transaction.