Malaysian boutique investment firm Emissary Capital has received US$25 million from state-run Penjana Kapital.

The money will be invested as a Limited Partner to Emissary Capital Growth Fund 1 (ECGF I), a new US$50-million VC fund jointly launched last month by Emissary and New Wave, a subsidiary of Philippines-based IP E-Game Ventures.

ECGF I aims to invest in Southeast Asia’s tech companies, especially in the agritech, fintech, healthcare and other key digital verticals. It aims to build stronger collaboration between startups in the ASEAN region, with a key focus on the Malaysian and Philippine markets.

Also Read: Philippine’s New Wave joins hands with Emissary Capital to launch US$50M fund for ASEAN startups

Under this partnership, New Wave had invested up to US$7.5 million as an LP and joined as a General Partner to manage the fund.

Enrique Gonzalez, Director at New Wave, said that more cross-border investment and expansion opportunities between Malaysia and the Philippines is a vital part of this limited partnership.

“Investments are key to long-term economic growth and productivity as part of the government’s efforts to enhance its startup-enabling environment to generate business opportunities, especially in sectors with high multiplier effects for the economy,” Finance Minister Seri Zafrul Tengku Abdul Aziz said.

Incorporated in June 2020 by Malaysia’s Ministry of Finance, Penjana was formed with an initial allocation of US$290 million (RM 1.2B) to drive Malaysia’s economic recovery via digitalisation of businesses. One of its key purposes is to push tech and automation of local businesses with the help of international and local investors.

In addition to addressing the short-term funding needs of the startups, Penjana also aims to establish Knowledge Transfer Plans (KTPs) to set the clear goal of the startups. This is aligned with Malaysia’s long-term objective of becoming a knowledge-based economy with high value products and services.

In September, Penjana announced its request for proposals (RFP) to invest in companies within four stages: seed/co-creation, Series A/B, growth-stage and venture debt.

Also Read:  MDI Ventures, Finch Capital join hands to launch new US$40M fund Arise to plug ASEANs pre-Series A gap

Malaysia ranked 13 out of 125 countries in the 2018 Venture Capital (VC) & Private equity (PE) country attractiveness index, while the Philippines ranked 42nd.

Kuala Lumpur and Manila are also being seen as the top emerging startup ecosystems in the world, ranking 11th and 31st respectively in the Global Startup Ecosystem Report 2020 (GSER 2020).

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Quona Capital leads US$21M in agritech startup Arya

Arya, a Delhi-based post-harvest agritech and fintech company, has raised US$21 million in Series B round of funding in a mix of equity and debt.

The equity round was led by Quona Capital, a venture firm focused on fintech in emerging markets, alongside existing investors LGT Lightstone Aspada and Omnivore.

Multiple lenders participated in providing additional debt financing to the company.

The new funding will be used to expand financing to farmers through Arya’s embedded fintech arm Aryadhan Financial Solutions, and to strengthen its digital post-harvest services and market linkages platform a2zgodaam.

The company was founded by Chattanathan Devarajan, Prasanna Rao and Anand Chandra.

Also Read: How can India leapfrog into the league of the most innovative countries within the next five years?

Driving technology through a farmer-centred approach, Arya offers storage, warehouse management, embedded finance, and market linkages to agricultural producers and buyers across India through a2zgodaam.

Through its “profitable business model” with over 2.5 million tonnes of storage capacity across 1,500 warehouses in 20 Indian states, Arya helps farmers, aggregators, farmer producer organisations, food processors and end-user corporate agribusinesses avoid post-harvest losses.

It efficiently connects the supply side of the agro-ecosystem with the demand side. Arya’s NBFC subsidiary Aryadhan assists sellers of agri-commodities to avoid distress sale of produce by extending post-harvest credit.

It has completed loan disbursements of over INR 250 crore.

Logistics-tech startup Pickrr secures US$4M led by Guild Capital, Omidyar

Pickrr Technologies, a Delhi-based logistics tech startup, today announced it has raised US$4 million in funding in round led by Guild Capital and Omidyar Network India.

The firm will use the investment to continue its market expansion and product development.

Founded in 2015 by Rhitiman Majumder, Gaurav Mangla, Ankit Kaushik, Pickrr is an end-to-end plug-n-play logistics solution for e-commerce sellers and D2C brands which want to ship anything anywhere in India.

At the core of our technology lies CALCULA, a smart algorithm which provides courier recommendations aimed at improving delivery performance. This Machine Learning-based algorithm ensures each order is assigned to the best courier partner based on 20+ proprietary logistics features that have evolved through continuous evaluation and assessment. Thus, reducing the delivery time and ensuring there are is no hassle in the due process.

Also Read: 5G and the 5 new things it will bring to the world of logistics

Pickrr claims it currently serves 26,000 pin-codes and handles 1.5 million shipments in a month.

Majumdar said: “Our aim is to create a brand that online sellers use for ‘anything and everything related to logistics’. This includes warehousing and fulfilment, cross-border logistics, and B2B logistics.”

“We are also planning to provide our tech solutions to aggregators and franchisees so that we can manage their shipments through a single end to end platform. The company’s goal is to help become growth drivers to their sellers and not just logistics service providers. Pickrr also plans to enhance services that decrease the cost and the inconvenience of logistics while also helping them to increase revenues,” he added.

 

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Helicap, a Singapore-based fintech company specialising in alternative lending, has announced a strategic partnership with Japanese financial services group Credit Saison.

The group will deploy US$10 million in impact debt financing through a pilot focusing on the growing alternative lending sector that serves financially underserved and excluded individuals and enterprises in Southeast Asia.

Also Read: Don’t break the bank: Enabling financial inclusion and equity through tech

As per a press note, Credit Saison will leverage its presence in the region as well as the resources and capabilities of Helicap to invest in select alternative lending platforms and non-bank financial institutions in Southeast Asia, with the intent of bolstering financial inclusion in the region.

Credit Saison’s venture arm Saison Capital was the lead investor in Helicap’s US$10 million Series A funding round in November 2019.

“Our collaboration with the Credit Saison group will create a significant impact, especially for low-income borrowers and micro-enterprises in Vietnam and Indonesia,”said David Z. Wang, Co-founder and CEO of Helicap.

The pilot will be jointly led by Credit Saison’s network of local lending institutions in the region and Helicap’s proprietary credit analytics engine.

Also Read: What makes investments in fintech and alternative lending in SEA promising?

This technology has been utilised by Helicap’s fund management subsidiary since 2019 to analyse, structure and monitor a diversified portfolio of alternative lenders.

Helicap is a fintech-driven investment firm specialising in the alternative lending space in Southeast Asia and Australia. The Singapore-based firm claims these algorithms will enable increasing volumes of targeted investments by the Credit Saison group and other Helicap partners and investors to serve over 300 million underbanked SMEs and individuals in Southeast Asia.

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Image Credit: Helicap

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Cove, a Singapore-headquartered co-living company targeting young professionals and students, has closed a US$4.6 million in a financing round from Keppel Land, the property arm of Singapore’s Keppel Corporation.

Other investors who joined the round include Idinvest Partners, a subsidiary of Eurazeo Group, along with existing investors Antler, Venturra, Yuj Ventures, Picus Capital, Found Ventures and several unnamed angel investors.

The fresh funds will go towards extending the company’s geographical reach into other key markets like Vietnam and the Philippines.

Also Read: How gnomadic is making its mark on the crowded co-living space by focusing on expats

In a statement, Cove also said it is on a good growth trajectory as it has so far already expanded from Singapore to Jakarta with a total of 550 rooms in just two years.

In addition to that, it has also built a student co-living space outside of Jakarta in partnership with Indonesian real estate developer the Lippo Group.

“Cove has a complementary expansion strategy into markets in Southeast Asia where Keppel Land is already present. It will be able to leverage our experience and wide networks as it scales up in providing well-managed, quality homes to a growing segment of those seeking creative shared living spaces that offer a unique and vibrant community experiences,” Tan Swee Yiow, CEO of Keppel Land, said.

Founded in 2018, Cove offers a one-stop solution to those looking to rent rooms and studios. Its properties come fully-furnished with WiFi, housekeeping and utility services at an all-inclusive price. Contract terms are flexible with short minimum stays and there are no agent fees to pay.

Tenants also get access to a vibrant community with regular social events and perks so they feel part of the family from the moment they move in.

Also Read: From co-working to co-living, these 7 brands in Southeast Asia have got you covered

At present, there are about eight co-living companies in Singapore which include Hmlet, The Ascott Ltd, Login Apartment, CP Residences, SOHO, Easycity and Commontown.

Despite the stiff competition, Cove’s co-founders continue to see huge potential in co-living spaces as they believe fewer people will be buying properties due to “prohibitively inflated prices and more flexible lifestyle needs”. This will result in the need for people to find more simple and relaxed solutions.

In 2019, Cove raised US$2 million in a seed funding round co-led by Venturra, Yuj Ventures, Investigate, and Picus Capital, with participation from Aetius Capital, Found Venture and some unnamed angel investors.

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Image Credit: Cove

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2020 has been a very challenging year for all businesses, particularly startups that are still struggling to get a foot in. With production lines affected by movement restrictions, a precarious market with shifting consumer demands, and the difficulty of securing funding due to all the austerity measures, startups are some of the hardest-hit companies in the world.

In Thailand, many companies have shown initiative that have yielded positive results despite COVID-19. A number of Thai startups managed to adjust their business models in order to survive, while others have gone through mergers, such as Lineman and Wongnai, to strengthen themselves and better compete with larger companies. There were also collaborations to develop services that specifically tackle the pandemic, such as the “Ped Thai Su Phai” Facebook page, which uses technology and innovation to address social problems, provide correct information, reduce the burdens of health workers, and generally help the public sector handle the pandemic.

Challenges when it comes to government support

However, despite these initiatives, many startups still struggle to cope with the new normal, especially in the tourism, event management, and food and beverage spaces, as well as other offline service sectors. Whereas many services have successfully shifted to virtual or online platforms or have pivoted to offer pandemic-specific services that address people’s needs during the crisis, startups in these key offline service industries are having a much harder time than their online counterparts.

Also read: Startup Thailand x Innovation Thailand Expo 2020: a catalyst for innovation

Although Thai startups received better support from the public and private sectors this year, their growth still did not match up with startups in other countries. Pattaraporn Bodhisuwan, President of Thailand Tech Startup Association, TTSA / CEO and Co-Founder of Eventpop, said a lack of support and assistance was the main reason why Thai startups did not grow as much as large foreign competitors.

Most platforms and services currently used by the Thai public sector are developed by foreign companies. For example, the Thai Ministry of Public Health recently collaborated with Agoda to launch a platform for Alternative State Quarantine hotel reservations. Mr Pattaraporn explained that there are several Thai startups with similar platforms and services and that were equally effective but were not chosen by the Thai government. He therefore urged the public sector to give support to Thai startups more, not only to help them grow and strengthen them, but also to better address the specific needs of Thai people. By not choosing Thai platforms and services, the government entrusts the important data of Thai users to foreign companies, exposing the people to many potential data risks.

Moreover, Mr Pattaraporn said that Thai startups managed to receive more attention from public and private agencies whose efforts to promote Thai startups so far have focused on collaboration on startup acceleration such as SCB10x, Kasikorn X etc. rather than funding.

Funding from investors is another big challenge for Thai startups in 2020 because many investors have decided to delay funding early-stage startups from January to October this year. Compared to an average of 30-35 startups each year, funds were mobilised for only 16 startups in 2020.

Also read: Don’t break the bank: Enabling financial inclusion and equity through tech

Increased support from both public and private sectors

On the government’s side, support and assistance have been provided for new startups to help them enter the ecosystem. Nevertheless, there are some government agencies that still have limited knowledge of how startup businesses work, resulting in regulations and government assistance that are off target.

“There were proposals for the government to use services by startups at ministries as well as campaigns for amendments to some laws, so that Thai startups would attract more foreign investors. The National Innovation Agency (NIA) has launched measures to give startups funding with no strings attached and educate them in various aspects,” explained Mr Pattaraporn.

On the future of Thai startups in 2021, the TTSA president said startups should pay more attention to their finances and performance as well as revenue channels, cost control, and accounting in a bid to boost investor confidence. He further advised that startups should find ways to create their own strengths by cooperating with the private sector or large corporates or ask the government to use their services more. Thai startups should also join hands to help one another in expanding services and exchanging knowledge, he said. Pattaraporn added that the TTSA is hard at work to foster and nurture a larger startup community for Thailand.

Thai startups also urge for a limit on foreign ecommerce companies’ e-marketplace share in the Thai market, as well as the enactment of an anti trust law to prevent monopoly. They also call for a policy to stimulate the use of Thai startups’ services, especially by the government, saying that the government should set an example for people to follow and encourage Thai consumers to choose services developed by Thais for Thais. Also, Thai startups have made a request for more business-matching initiatives between Thai startups and other private companies.

Moreover, Thai startups have requested the government’s assistance in four areas, including public relations for its projects to support Thai startups and measures to provide thorough assistance for them, ease of doing business, easy access to information and services of the government, and support for skilled professionals particularly developers and programmers.

Entering the negotiating table, laws that seek to support the startup ecosystem are now being considered and are being discussed to find mutually beneficial resolutions that both sectors may agree upon. Some examples of the laws include laws on the ESOP — Employee Stock Ownership Plan, vesting, and convertible note, among others.

In his capacity as the president of the association, Mr Pattaraporn said he is continuously following up on the progress of all of the proposals in cooperation with National Innovation Agency (NIA).

The future growth of Thai startups is the direct product of cooperation between three parties: startups, the government, and the private sector. The cooperation of each component is key to developing the Thai startup ecosystem, and helping startups become at par with their foreign counterparts. With this cooperation, the NIA hopes to help bring Thai startups to the global market.

Visit the Startup Thailand Marketplace at ecosystem.startupthailand.org for updates on the Thailand startup ecosystem.

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This article is produced by the e27 team, sponsored by the National Innovation Agency of Thailand.

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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This year has presented significant challenges for businesses across the globe. In Australia specifically, we are seeing strong signs of recovery, although with the continuing economic downturn, firms will continue to face difficult decisions in 2021. 

Cash flow, managing costs and bringing in revenue are part of the normal day-to-day for businesses, all linked to the payment collection journey. The pandemic has accentuated the importance of doing this well, prompting many firms to reassess their processes. 

A recent Forrester report commissioned by GoCardless reveals some of the most common pain points businesses face when it comes to collecting payments – pain points that have become top of mind during COVID-19. Some key findings highlight the connection between failed payments and negative business impacts that have long-lasting ramifications on both a business’ bottom line and its customers. 

Moreover, as payment woes come to the forefront, we are also seeing a rise in the subscription economy, with research by Zuora indicating that 70 per cent of firms in Australia and New Zealand plan to shift to a subscription model within the next two to three years. To reap the benefits of a subscription economy however, businesses need the right payments infrastructure to support it. 

Addressing both of these issues comes down to implementing a strong payments strategy. 

Also Read: How understanding culture can drive digitalisation of payments in Myanmar

Despite not knowing what 2021 will bring, proactively rethinking your payments strategy now will help mitigate risk and see success in the new year. Here are three reasons why: 

Businesses are waiting longer than ever to get paid

The Forrester report reveals that late payments have sharply increased since COVID-19, with the average Day Sales Outstanding (DSO) for businesses at 20 to 30 days. As a result, 77 per cent of companies say it is a high or critical priority to address in 2021. 

Late payments are more than just inconvenient; they lead to long-term damage. 

Xero’s Economic Impact Report shows businesses that are paid late grow their revenue at three times a slower rate than their paid on-time counterparts, proving that every day outstanding is another day firms cannot re-invest their money and grow. To survive and even thrive in the wake of COVID-19’s devastation, businesses must look at new ways to manage cash flow more efficiently; maximising predictability and minimising risk. 

There are a few options out there for businesses, but the key is using integrated and automated payment platforms, where

a) the business is in control of initiating the payment on the due date; and

b) visibility of the payment status is clear.

Typically, this will mean working with partners whose platform can be integrated into the billing or accounting system they use every day – or better yet, are already integrated. 

With the right partners to support a strong payments strategy, organisations can automate peripheral processes and create greater consistency around cash flow.

Also Read: 4 ways digital payments are helping businesses thrive amid a global recession

Chasing payments is costly

Payments are a complex and high-touch function. As a result, despite being an essential part of the customer journey, they are mostly non-specialised and neglected within leadership and C-level teams. 

The average firm has between 20 to 30 full-time employees managing finances, with manual administrative processes, such as matching payments to invoices, cited as the most time-consuming tasks for 60 per cent of businesses. That is talent that could be re-deployed within organisations to create bigger impacts. 

Moreover, the cost of chasing payments is on the rise, with Australian businesses spending 11 to 15 per cent of an invoice total on recovering that payment if it fails. 

Now with COVID-19 forcing the majority, if not all, payments online, firms are struggling to manage the complexities of a digital payments landscape. 

Automating payment processes and using APIs to integrate elements of your billing stack can minimise the reliance on human-touch, as well as create more seamless payment experiences for finance teams and customers alike. 

To operate in an economy increasingly driven by digital payment methods, firms must modernise their payments infrastructure or risk the revenue drains of outdated processes. 

Failure and frustration

If your business bottom line was not enough motivation to rethink your payments strategy, consider the impact of payments on your customer relationships. 

There is a clear link between failed payments and negative impacts on customers, with payment failures resulting in churn 11 to 15 per cent of the time. What’s more, 54 per cent of businesses agreed that failed payments lead to increased customer dissatisfaction. Every time a payment fails, you are asking a customer to re-evaluate their relationship with your brand.

Also Read: PayMongo nets US$12M Series A led by Stripe to leverage Filipinos’ growing shift to digital payments

How you handle those failures is incredibly important and a poor recovery experience will only spoil the relationship further. 

That is a position that no business wants to be in. 

Consider a holistic payments strategy that is not only centred on internal operational efficiencies, but the customer experience. This includes payment preferences, coverage and smart technologies for optimal payment retries. The more seamless their experience is, the more loyal a customer becomes. 

As we recover from a crisis that has spurred equal part innovation and chaos, firms have an opportunity to restructure their business models for long-term continuity and success,  based on newfound and emerging customer payment trends. 

Financial transformation plays a significant role in the ‘new business normal’ meaning now is the time to rethink your payments strategy to save your customers and bottom line.

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Sembrani Nusantara Fund (SNF), a new fund launched recently by Indonesian corporate VC firm BRI Ventures, has led an undisclosed Series A investment in Indonesian direct-to-consumer (D2C) shoe brand Brodo.

Local VC firm GDP Venture also joined the round and the size of the investment remains undisclosed.

As per a press statement, the fresh funds will be used to bankroll Brodo’s product innovation and strengthen its supply chain network to increase local market penetration.

This is SNF’s second investment since its launch in mid-2020 and marks BRI Ventures’s first step into the new retail space. SNF made its debut with a US$2 million investment in local made-to-order drink brand Haus! earlier this month.

Also Read: BRI Ventures’s Sembrani Nusantara fund hits first close at US$10M; Grab and Celebes Capital among investors

Established in 2010, Brodo specialises in men’s fashion. It merges the online and offline shopping experience with three brick-and-mortar shops in Jakarta, Bandung and Surabaya.

Yukka Harlanda, CEO of Brodo, said: “With this funding, we will double down on our product innovation and strengthen our supply chain network to help deeper penetrate Indonesia’s market. We are also preparing for our second stage of growth in order to fulfil a specific mission of making Indonesian brands cool again. This will ignite the revolution of digital-first microbrands.”

Also Read: D2C: Is it time for the next phase of ecommerce in SEA?

“Brodo’s expertise in leveraging social media platforms and e-commerce marketplaces allows the brand to position itself as an affordable, yet high-quality and unique, alternative to the homogenous options presented by international labels,” SNF head Markus Liman Rahardja said.

The Brodo team has also developed Boleh Dicoba Digital (BDD), a digital marketing platform, which will soon be available for micro, small and medium enterprises (MSMEs) in the archipelago.

“Brodo’s strong understanding of how best to utilise branding and a strong desire to support micro, small, and medium enterprises expands the possibilities we can explore down the road,” said Nicko Widjaja, CEO of BRI Ventures.

“BDD has been powering local brands. I believe this platform will onboard more small and big brands alike. I hope we’re witnessing the birth of a cloud marketing platform, similar to what AWS as a cloud computing and API platform is to Amazon,” he opined.

Launched in June 2020, the SNF aims to build a pipeline for Indonesian startups to grow and find good exits. The fund looks beyond typical investment areas such as fintech and focuses on MSMEs while aligning their investment thesis around the areas of education, agro-maritime, retail, transportation and healthcare.

 “The investment into Brodo fits with our localised retail focus while the brand’s digital marketing chops play into the fund’s goal to discover and build up fellow MSMEs,” Rahardja added.

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Image Credit: Brodo

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One Click Shop may not be a unicorn but this e-commerce startup from Bhutan understands the industry better than any other tech giants out there.

The two-year-old firm, founded by brothers Deepak Upreti and Rohit Upreti and close family friend Zigyal Tshering, also seeks to stand out from the crowd with its novel business model.

“Unlike the traditional e-commerce marketplaces that allow users to sell their products online, we take the full charge of the entire process,” Rohit Upreti told e27.

This it means is that all the products (primarily FMCG goods) displayed on its platform are imported by the company from outside Bhutan. “A customer visiting our site simply needs to add products in their cart. We will then deliver them at their doorsteps,” he explained.

What makes the service stand out is that the startup has free delivery for all of its products no matter how low the price which even Amazon doesn’t do, Upreti quips.

But the challenges are plenty. One of the major challenges is the slow pace of shift of the customer mindset from the traditional means of shopping towards a more digital experience.

“Unlike people in other countries where tech is widely embraced, Bhutanese are still not willing to make the digital shift. Because of this, foreign as well as home-grown tech companies have failed to make a mark in the Kingdom,” he said.

“There is a push from the government to promote the tech ecosystem but the reality is that tech has not been successful here because it all comes down to how the market responds, the population and what the continuity of services is like. There was a boom of taxi apps like Ola but almost all of them are not functioning at scale because the market is not responding properly,” he said.

Also Read: 7 principles of intelligent personalisation

So how did One Click Shop go from catering to 200 households to 60,000 households within a short period?

Personalising the brand

According to Deepak Upreti, Bhutanese people are a close-knit society which tends to even remember the delivery boys/girls by their names, which is generally unheard of in the fast-paced 21st century.

Since personalisation is such an important part of the culture, One Click Shop decided to pivot its model from an app-based model to a web model and then to social media platforms such as WhatsApp and Facebook Messenger.

“Eighty per cent of our customers were ordering online through our website, not on our app. And once we went to meet them, they shifted from website to Messenger, Instagram and WhatsApp. Downloading an app and using it is not how customers like to do it here, but they are more comfortable toward using websites or conducting a dialogue through social media,” he said.

Upreti has however added that it is not that people don’t understand tech or that the company is focused on an older population. It is just that people in this market like to do things traditionally and it is essential to establish a very personal relationship with the clients.

Crowdfunding 

Aside from making sure that the company delivers a human touch along every step of the delivery process, One Click Shop managed to raise close to BTN$8.5 million (close to US$1,15,000) from the public population via a crowdfunding platform in Bhutan.

“We were the first startup in the country to put our shares into the market, and that’s how people got more connected to us,” he said.

While startups are not allowed to put their shares for public sales in the Kingdom, One Click Shop was an exception. Because, after its external auditing process, the company showed strong signs of profit after just 18 months of its inception.

Also Read: Meet the 15 Asian startups that will advance to Seedstars World Competition 2020

“We are constantly focused on moving towards the secondary stock market this year so that our share can be traded double the times. Our goal is to go IPO, and at the same time, we are also looking towards moving to export,” Upreti revealed.

Managing finances responsibly

The startup also raised an undisclosed amount of loan from the government which currently makes up 10 per cent of the entire business.

“We are strictly focused on doing business where we can get low investment and high returns. And that’s primarily how we increase our capital,” he said.

They were also the regional winners of Seedstars World Competition and will be entering its next phase where 10 startups will receive US$50,000 in the growth program investment as well as the chance to compete at the Grand Finale for a shot at the “Global Winner prize of US$500,000 in equity investment”.

Ramping up marketing strategies

As with any other country, savings are a big deal in any household, therefore the company regularly tends to provide people with savings deals, cashback policies and loyalty points that they would generally not find anywhere.

The company has also come up with several policies over the time being to get customers to shop with them.

For example, the company has a green policy, where they urge their customers to store their plastics until the next delivery after which the company helps them dump the plastic effectively.

Other than that the brand also has partnerships with many local influencers and celebrities to attract more clients.

“But even after everything we still see that there is another 50 per cent of the market yet to be captured but the rise in the growth of consumer is still going strong,” he shared.

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Image Credit: One Click Shop

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UOB Venture Management (UOBVM), the private equity arm of UOB and Credit Suisse, has announced that it has closed its second impact fund at over US$60 million.

The Asia Impact Investment Fund (AIIF II) received capital commitments from major institutional and accredited investors, including UOB and several unnamed global family offices and high-net-worth individuals.

The final close of the fund is expected to be completed next year, with a target of US$100 million to be raised in total, as per a press statement.

Also Read: UOB partners cloud accounting firm Xero to ease SMEs; bookkeeping woes

Geared towards making a social impact, AIIF II will look to invest in companies whose business models revolve around improving the livelihoods of underserved communities in Southeast Asia and China.

The fund will make equity investments of about US$1 million to US$15 million into private, high-growth companies in sectors such as agriculture, education, healthcare and logistics, or sectors that focus on improving the accessibility of affordable housing, sanitation, clean water and energy.

Other than its current fund, UOB also has Asia Impact Investment Fund I which invests in similar companies and had raised US$55 million in 2016. Some of its notable investments include agritech company TaniHub, healthcare company Halodoc, and gojek.

Also Read: Ecosystem Roundup: UOB’s VC firm makes 1st close of its impact fund at US$60M; Indonesian startups raise US$1.9B by Q3 2020

To date, the fund claims to have helped more than 15 million low-income individuals to benefit from the efforts of the AIIF I’s portfolio companies, from getting higher income to better access to financing or affordable and quality products and services.

“The success of the AIIF I and the momentum of the AIIF II to date reflect investors’ growing emphasis on sustainability. While we seek to achieve quality financial returns for our investors, we also continue to partner them in generating positive social impact by helping the vulnerable segments of the community across Southeast Asia and China. Our common goal of advancing social development through investments underpins our joint efforts to forge a sustainable future for all,” said Seah Kian Wee, CEO of UOBVM.

COVID-19 has exacerbated global poverty and is estimated to push up to 150 million more people into extreme poverty by 20215, including tens of millions in Southeast Asia.

The unprecedented global pandemic has set back the progress made to alleviate poverty, which was already affected by socioeconomic tensions and climate change.

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Image Credit: UOB

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In this day and age, where do you go when you want to learn more about the investors who are active in the region AND connect with them directly?

That’s a question we wanted to be answered by e27 Pro Connect. It launched at 300 investors on board the Connect feature and now, a few months after launching, we’ve added more active investors to Connect.

So, here’s the third batch of investors joining Connect (see first and second batches).

Agaeti Ventures
Stages: Angel/Pre-Seed, Seed, Pre-Series A/Bridge, Series A
Verticals: All
Investment range: Not specified
Straight from Agaeti Ventures: Agaeti Venture Capital is an early-stage venture capital firm founded by seasoned entrepreneurs and investors who have extensive industry experiences in Southeast Asia. We believe in bringing strategic value and partnership beyond capital contribution to optimize synergic growth and impact.
Connect with them

Do Ventures
Stages: Seed, Pre-Series A/Bridge, Series A, Series B
Verticals: E-commerce, Education, Enterprise Solution, Healthtech, ICT, Insurtech, Mobile, Transportation, Travel
Investment range: Not specified
Straight from Do Ventures: Our philosophy is Growing by Doing. We believe that entrepreneurs who are willing to do more tend to make more right decisions. Luck originates from resilience and persistence. Those who work harder will have more chances to encounter luck in their career path. At Do Ventures, we believe that failing is equally important to do the right things. Success can frequently be taken for granted, but failure is a remarkable opportunity to learn.
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DSG Consumer Partners
Stages: Seed, Series A, Series B
Verticals: Consumer, Finance, Food & Beverage, Internet of Things
Investment range: USD 100K to USD 2M
Straight from DSG Consumer Partners: DSG Consumer Partners is an investment company focusing on identifying, investing in, and growing consumer businesses in India & Southeast Asia. Since its launch, DSGCP has backed and partnered with leading consumer brands and businesses in the region.
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Also read: Appboxo snags US$1.1M seed funding from Founders Fund, 500 Startups to expand app integration platform

ISIF Asia
Stages: All
Verticals: Agency & Consulting, Agritech, Blockchain, Cybersecurity, Education, Energy, Hardware, Healthtech, and various more
Investment range: USD 4K to USD 56K
Straight from ISIF Asia: ISIF Asia offers grants and awards to innovative Internet development solutions from the Asia Pacific. Selected grantees receive capacity-building support to scale-up their solutions and grow. Objectives include supporting research on Internet operations, infrastructure, technologies and protocols, conducted within the Asia Pacific region, and supporting implementation and refinement of digital solutions that make strategic use of Internet technologies in an innovative way, responding to the needs and challenges that different communities face, among others.
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Krungsri Finnovate
Stages: Series A, Series B, Series C and above
Verticals: Finance, Consumer, Big Data, Insurtech, Internet of Things, Mobile, Enterprise Solution, Real Estate, Retail
Investment range: USD 1M to USD 10M
Straight from Krungsri Finnovate: Krungsri Finnovate aims to be a fully strategic investor who helps start-up grow to reach its goal through Krungsri RISE Accelerator and our support and synergy from our Bank’s valuable assets.
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Next 100
Stages: Seed, Pre-Series A / Bridge
Verticals: FInance, ICT, Productivity & CRM, Social Enterprise
Investment range: USD 100K to USD 1M
Straight from Next 100: Stated as a Group of Companies operating in the USA and six South East Asia markets including Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam; NextTech Group’s subsidiaries and affiliates are dedicated to digitisation and facilitation of people’s lives in the real world, non-stop.
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Also read: How investors are adapting to effective due diligence practices in the new normal

Saathi Ventures
Stages: Angel, Pre-Seed, Venture Debt
Verticals: All
Investment range: Not specified
Straight from Saathi Ventures: Saathi Ventures exists to identify and catalyze the best solutions to address social, environmental, and economic challenges across emerging markets. We’re an ecosystem builder, but we deliver support different from incubators/accelerators and investors that enables us to identify “overlooked” entrepreneurs/innovators and help them build functions, increase revenue, and scale as needed.
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SeedPlus
Stages: Seed
Verticals: Enterprise Solution, Mobile
Investment range: USD 500K to USD 1M
Straight from SeedPlus: Singapore-­based seed-stage venture firm that invests S$500k to 1M in early-stage companies on market terms. Once the investment is in place, they’ll help you to grow to profit or the next round of funding through their network and their full­-time operating partners. SeedPlus is a network of networks. Between Jungle Ventures, PwC, Google, Accel Partners and Infocomm Investments, there are few questions they can’t answer and little support they can’t give.
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TinkBig Ventures
Stages: Seed, Series A
Verticals: E-Commerce, Retail, Sports
Investment range: USD 250K to USD 3M
Straight from TinkBig Ventures: We partner early. We are comfortable with the rough imperfection of a new venture. We help founders from day zero, when the DNA of their business first take shape. Our team partners both with young companies finding their stride and established ones looking for step-function growth. We help organizations become enduring businesses.
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Also read: (Exclusive) Palexy picks US$1M funding to help offline stores achieve e-commerce-like success through real-time consumer data

Woori BMO Group
Stages: Private Equity
Verticals: Finance
Investment range: USD 1M to USD 35M
Straight from Woori BMO Group: At Woori BMO Group we aim to protect and grow the wealth of our clients through tailored financial planning solutions and discretionary investment management.

Our investment managers at Woori BMO Group guarantee to generate impressive returns for all of our clients, however, the multiplications are directly related to your risk profile and availability to progress on the more volatile products that we offer.
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Watch out for more announcements of new investors (yes, there is more!) that you can directly connect with through e27 Pro Connect.

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