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Vickers Venture leads US$11M in UK-based biotech startup

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Vickers Chairman Dr. Finian Tan

Vickers Venture Partners, a Singapore-headquartered global early-stage VC firm, has led an over US$11-million Series A funding round in UK-based Emergex Vaccines Holding.

Emergex is a biotechnology company that develops set-point vaccines to prevent serious infectious diseases.

Professor Thomas Rademacher, CEO and Co-founder of Emergex, commented: “These new funds will support us to achieve some significant value-enhancing milestones as we progress our lead vaccine candidates into clinical development.”

Founded in 2016, Emergex focuses on developing vaccines that prevent virulent diseases such as Zika, Dengue Fever, Ebola and even pandemic Flu. Its T-cell vaccines elicit different responses than traditional antibody-producing vaccines, eliminating allergic, autoimmune or antibody-mediated side effects.

Also Read: I could never be the largest fund, but I can be the best performing: Dr Finian Tan of Vickers Venture Partners

Its underlying platform technology enables rapid development of vaccines to entire families of pathogens, compared to traditional approaches that can take years to develop and scale vaccines for single pathogens.

As per the deal, Dr. Finian Tan, Chairman of Vickers, will join the Emergex Board as a non-executive Director. He said: “With today’s rising global population, the risk posed by infectious diseases is greater than ever before. As such, it is vital that we value and pursue innovation to ensure we have effective healthcare options.

We see great potential in Emergex’s technology as it allows vaccines to be produced quickly, administered easily and sold at a fraction of current prices. We believe that this would revolutionise the entire world of vaccines and increase access to a larger number of people around the world,” Tan added.

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Paul Ark is departing from SCB’s fintech investment arm Digital Ventures

Paul Ark

Polapat Arkkrapridi (known as Paul Ark in Thailand’s startup and investment circle) is departing from Digital Ventures at the end of January, he announced in a Facebook post.

Ark, Managing Director of Digital Ventures, a US$100-million fintech investment arm of Siam Commercial Bank (SCB), is leaving after a four-year stint at the helm.

He will take a sabbatical before thinking about the next phase of his work life, he wrote in the post.

Also Read: Venture Capital Book Club: Why I make my VC team read books

“With the announcement that Siam Commercial Bank PLC is reorganizing all its innovation units (including Digital Ventures and the corporate venture capital unit that I manage), this is as good a time as any to address the rumours that have been circulating around the Thai startup ecosystem and make public the news I have been keeping under wraps over the past few months, namely that I will be leaving Digital Ventures at the end of the month,” he wrote in the post.

“After nearly 4 years at the helm of one of the largest and certainly the most international of Thailand’s homegrown VC funds, it is time for me to take a much-needed work sabbatical (my third in my rather eclectic career) and think about the next phase of my work life.

He thanked the visionary senior executives at the SCB, who gave him an unparalleled degree of freedom to shape its tech investment platform and strategy and build the team that he wanted to build.

Ark said he nurtured and developed some of the most talented VCs in the Thai VC ecosystem while boosting female representation in the industry. He also crafted a progressive, visionary tech investment strategy that will shape the financial services industry in the years and decades to come.

“I can honestly say that within my long, diverse career, launching and managing the Digital Ventures corporate VC unit was THE highlight of my career, which means my departure will be bittersweet; happy,” he wrote.

An alumnus of the University of California, Berkely, and London Business School, Ark has over 25 years of on-the-ground management and deal experience in North, South, and Southeast Asia, with tenures in Silicon Valley and on Wall Street. He is also an active angel investor and startup advisor/mentor and sits on the board of many startups.

Also Read: Thai bank SCB doubles the size of its fintech-focussed corporate VC fund to US$100M

Ark joined Digital Ventures in 2016. Under his watch, the corporate VC firm made direct investments in Ripple, Pulse iD, OneStockHome, Seekster, PayKey, IndoorAtlas, 1QBit, DemystData, Pagaya, AsiaCollect, and CurrencyCloud.

The fund also made investments in several VC firms during his stint, such as Golden Gate Ventures Fund II, Nyca Partners Fund II, Dymon Asia Ventures Fund I, Arbor Ventures Fund II, SBI AI & Blockchain Fund, Viola Fintech Fund, Passion Capital Fund III.

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Today’s top tech news: Edtech firm Byju’s raises US$200M; Ovo hits 1B transactions in 2019

Byju’s raises US$200M from Tiger Global [DealStreetAsia]

Indian edtech company Byju’s, operated by Bengaluru-based Think and Learn, has raised US$200 million funding from New York-based investment firm Tiger Global at a striking US$8 billion valuation, said a media report citing sources.

Going forward, Byju’s is also likely to provide exits to some of the early backers via US$100-US$200 million worth secondary transactions.

According to a report in The Economic Times, Tiger Global and Byju’s have been in funding talks for the past few months. Byju’s has reportedly confirmed the transaction but has not divulged financial details.

Internet-first personal care brand Mamaearth raises US$18.3M round led by Sequoia India [press release]

Mamaearth, an internet-first FMCG brand, has raised US$18.3 million in a round of funding led by Sequoia India with participation from existing investors Fireside Ventures, Stellaris Venture Partners, and Sharp Ventures.

Founded in 2016 by husband-wife duo Varun and Ghazal Alagh, MamaEarth offers toxin-free and natural skincare, hair care and baby care products.

The company is building a new range of direct to consumer brands that use the internet-first approach to reach the target audience.

According to Varun Alagh, Founder and CEO of Mamaearth. “Our vision is to create the FMCG conglomerate of the future by building brands that connect strongly with millennials and Gen Z customers using the combined power of digital marketing and e-commerce at large scale.”

Indonesian wallet Ovo hits one billion transactions in 2019 [KrAsia]

Indonesian digital payment firm Ovo has recorded one billion total transactions in 2019, an increase of 70 per cent compared to 2018, the firm’s president director Karaniya Dharmasaputra announced on Wednesday.

Ovo’s online transaction growth is also higher than the one recorded from 2017 to 2018 when it reached a 55 per cent increase. Dharmasaputra also mentioned that his firm booked a 55 per cent growth in the average transaction value and an increase of 40 per cent of the number of monthly active users (MAUs) in 2018.

Dharmasaputra said that the Ovo app is used in more than 115 million devices in over 363 cities.

Standard Chartered makes strategic investment into Linklogis [press release]

Standard Chartered today announced its strategic investment into Linklogis, China’s leading supply chain financing platform, to enhance its joint supply chain ecosystem proposition and provide suppliers with access to affordable and convenient financing.

This marks the bank’s first investment in a supply chain platform in China, as well as the first global bank investor in Linklogis.

The purchase of the equity stake also builds on Standard Chartered’s ongoing partnership with Linklogis, which started in February 2019 with the signing of a memorandum of understanding to jointly develop and deliver a supply chain financing proposition, and the completion of several joint deep-tier supply chain financing transactions.

CIIE.CO, Chandigarh Angels Back Fintech Startup Paymart [press release]

CIIE.CO, IIM Ahmedabad’s incubator, has invested in Paymart India, a fintech startup based out of Chandigarh in north India.

Chandigarh Angels & Delhi based angels also participated in this round.

It is providing a platform as a solution that allows cardless cash withdrawals without an ATM/POS by leveraging the presence of small merchant shops and kirana stores. In the process, it makes cash withdrawals hassle-free and efficient while supporting digital financial transactions.

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Is Vietnam the new golden child of tech startups in SEA?

Vietnam is one of the most densely populated countries in Asia, with 95.5 million residents living in the country, according to the statistics from 2018.

This developing country has been undergoing a lot of changes during the past two decades, including opening its borders for global business. In addition, Vietnam has been moving away from its mostly agrarian economy to become a more market-based and industrial-focused economy

Vietnam has been able to improve its income level at a great scale, in part thanks to its population’s cultural inclination for a hard-working character.

Another significant factor that helped Vietnam’s economy revive is the development of entrepreneurship in the country. 

Vietnam’s economic growth: What’s next?

As mentioned above, Vietnam has been transitioning from the traditional and agricultural economy, with an increased focus on foreign investments and global exchange. Today, we know this country as the leading producer and exporter of rice, coffee, rubber, and sea products.

Additionally, this Southeast Asian country is one of the most active countries in the digital industry.

The Vietnamese digital community is dynamically pushed forward by a number of government-led initiatives.

In fact, the Vietnamese government has been working on developing a startup landscape, which also contributed to the fast growth of fintech startups in the country.

Also Read: How Vietnam is accelerating fintech growth

Despite its steady growth of more than six per cent from 2011, Vietnam still needs to explore more areas of development to maintain this pace.

Until now, the country’s growth has been mostly driven by its high-scale manufacturing activities. Looking further, Vietnam’s government would need to find alternative sources of fueling its economy.

One of these sources appears to lie in the small business sector of Vietnam – specifically, in its micro, small and medium enterprises (MSMEs) that are dominant in the country (93.7 per cent of the total enterprise).

While the MSMEs are perceived as the next kick-off of the Vietnamese economy, there are a lot of challenges standing in the way. 

The biggest part of the obstacles for MSMEs in Vietnam is related to innovation. Small businesses in Vietnam are limited to very small markets and are not able to expand their operations to a wider audience. 

The missing piece here is the innovation since only with advanced products and services Vietnamese MSMEs will be able to stay relevant and keep up with the competition.

In addition to that, MSMEs need to embrace innovations to be able to improve their services and products, along with business operations and other areas of their business. 

This means that the Vietnamese government needs to foster innovation in the MSME industry to maintain its economic growth.

MSMEs receive support from the Vietnamese government

MSMEs have been playing a major role in the Vietnamese economy for a long time now. According to the latest data, MSMEs account for 40 per cent of GDP and 50 per cent of employment in Vietnam. 

Also read: Startups bag a total of US$14M investments at Techfest Vietnam

Yet, despite the prevailing influence, small businesses are still facing issues, including limited access to finance, market access, and aggressive competition. To aid this business sector’s participants, Vietnamese officials introduced a new law that established a number of support measures for SMEs across the country.

As a part of the legislation, Vietnamese SMEs are able to receive support in the form of incentives, land rental preferences, credit access, and human resource aid.

The law serves as the foundation for the government support in the research and development area for MSMEs. It also helps SMEs to create and nurture a creative economy in the country. 

Other initiatives

Other ways the government is supporting the ecosystem is by hosting events. TechFest Vietnam, one of the most innovative events in the country focused on a startup community, is organised by the Ministry of Science and Technology in cooperation with other Government Ministries and socio-political organisations in Vietnam. 

The event presents a significant opportunity for innovative startups to share their knowledge and experience and create a network of connections. In addition, startups are able to spread the word about their work and reach thousands of attendees, including potential customers, experts, investors, and media.  

Such initiatives, especially when promoted by the government, is a big step in making Vietnam the next startup hub in SEA. In this case, the government seems to be taking a leaf out of Singapore’s startup ecosystem, particularly in terms of their involvement.

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3 genuine ways to get media attention for your startup in Southeast Asia

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It has been 1.5 years since I began my journey in the content marketing team at iPrice Group, a Southeast Asian e-commerce startup with 150 employees.

Normally, startups at the scale of iPrice would not dream of earning tens of media publications, much less 600 in one year, yet that is exactly what iPrice has been doing successfully for the past three years.

We have earned publications and brand mentions from the likes of SCMP, Bloomberg, VnExpress, ZDNet, CNA, and Mashable, all from a small office in Kuala Lumpur.

So how do we do it? Below are the three key things that I’ve learned personally from my time at iPrice about doing media relations in Southeast Asia:

Don’t disrupt, participate

Shortly after joining, the first thing I did was trying to secure media interviews. Like any young and eager PR executives, I was so sure that the company’s story simply ‘deserved’ coverage. I probably don’t have to tell you how hard I failed at this task. Without a budget for paid coverage nor a household name, I pretty much got laughed out of the room.

From that experience, I slowly learned my first difficult lesson: most brands don’t get to decide what’s newsworthy.

Readers nowadays are smart enough to recognize flimsy PR attempts and journalists know fully well when they see contents that no one wants to read.

Also read: How effective PR can be a game-changer for tech startups in 2020?

Therefore, as a brand, stop trying to disrupt the news to talk about yourselves. Stop distracting readers with content they have no interest in. And especially stop disturbing journalists with your narcissistic writings.

Instead of doing those things, learn to recognize & participate in conversations that are already happening.

One example of this is our most successful content, the Map of E-commerce, which accounts for roughly 70 per cent of our media coverage in Vietnam.

Article featuring iPrice Map of e-Commerce on VnExpress — the most read Vietnamese media

Article featuring iPrice Map of e-Commerce on VnExpress – the most read Vietnamese media

Back when iPrice first brainstormed the idea for this, the team saw that there were lots of talking in the news and on social media about online shopping. People were expressing great interest in e-commerce and want to learn more about it.

Instead of disrupting these online conversations to sell ourselves, we decided to actively participate & contribute to them. We created data-driven research about the state of Southeast Asian e-commerce utilizing our own insider knowledge.

The result is a comprehensive and valuable content that allows us to attract readers & earn organic publications.

The keyword here is ‘valuable’. But how to create values in the world of media?

Be honest and insightful

Over time, I recognize that there is a problem troubling the media world in Southeast Asia: lack of genuine and quality insights. People who want to be on the news here often don’t have much to say, while the ones who know what they’re talking about usually avoid the spotlights.

As a startup looking for news coverage, this is a perfect opportunity for you. If you’re able to become that rare source of valuable industry insights for the media, you can easily insert yourselves into any media articles regarding your industry.

It is how iPrice has been able to appear consistently in the news. Whenever media across SEA discuss online shopping, they’ll reference our Map of e-Commerce or whenever they talk about the courier industry, they’ll cite our joint research with Parcel Perform.

iPrice regularly receives organic mentions from media across the region for our quality contents

iPrice regularly receives organic mentions from media across the region for our quality contents

Easier said than done, of course. You don’t produce valuable insights by talking nonsense or playing safe. You achieve that by being careful but honest and interesting.

That means avoid being boring and predictable at all costs. Remember journalists receive dozens of typical press releases a day. They can smell boilerplate PR statements & worthless information from miles away.

So, remember to do your research, keep up with the industry’s trends, spice up your press releases with insider knowledge, back up your content with data, and practically become an expert on the subjects regarding your industry.

Also read: Save it for a rainy day: How startups can handle media crisis like a pro

Most importantly, know your unique perspective. Maybe you possess some data that nobody else has, maybe you have certain professional experience that’s worth sharing. Whatever it is, utilize it and make it your thing.

And last but not least, you need to take your relationship with local journalists to the next level. Which leads to my final tip.

The media is your friend, literally

I know it seems hypocritical to talk about being a friend with the media in an article on how to take advantage of them, but like any other friendships, you can always be helpful and caring while still expect to ask for favours from time to time.

The key here is to put their interests ahead of yours and to go above and beyond.

See they’re looking for information? Offer to help introduce them to the appropriate people.

Know they’re interested in a certain topic? Discuss it with them regularly and tip them off whenever you discover related insights.

Read a good article from them lately? Say a word of congratulations and help them pass it around.

In other words, treat them like human beings, and listen to them before even thinking about asking them to publish your PR gibberish. And do that consistently.

There was a time when I thought this was typical in the world of PR but it turns out it’s not. Media relations in Vietnam is still pretty much limited to paying people off and sending press releases occasionally.

So, just by doing things in a human way, you will create a vast field of PR opportunities for yourself and your brand.

Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas and earn a byline by submitting a post.

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