TikTok has released its fifth annual trend forecast, the What’s Next Report 2025, offering businesses and marketers insight into the platform’s evolving landscape.

Supported by data from TikTok’s Global Marketing Science team, the report draws from multiple third-party commissioned studies conducted between 2022 and 2024. It identifies key trends shaping audience engagement and brand success in the coming year.

As the platform continues to influence digital culture, brands must remain agile to sustain relevance. The 2025 report emphasises the importance of bridging the gap between representation and connection in advertising, adapting to changing consumer values, and giving creators and communities greater creative ownership.

The findings suggest that fostering cultural resonance and maintaining a consistent presence will be critical to long-term success.

Three core themes shaping 2025

The report highlights three overarching themes that encapsulate consumer behaviour shifts and how brands can navigate them effectively:

Brand Fusion: Strengthening consumer connections

In an increasingly dynamic digital space, brand evolution is essential. The concept of Brand Fusion describes a state where businesses refine their identities to better align with shifting consumer values. By sharing niche perspectives and fostering deeper connections, brands can create stronger and more authentic relationships with audiences.

For instance, L’Oréal Paris expanded its creator network by collaborating with science comedian @mister.emerson, using humour to promote sunblock. This approach exemplifies how brands can engage new audiences by integrating diverse voices and perspectives into their storytelling.

Also Read: Rising trend in Vietnam: Young professionals embracing social media content creation

Identity Osmosis: Adapting to cultural shifts

The second theme, Identity Osmosis, refers to brands seamlessly integrating evolving consumer values into their identity. This requires an openness to remixing content and exploring new avenues for engagement.

A notable example is a community event hosted in partnership with Flagrant magazine and the female-owned sports bar The Sports Bra, to celebrate the WNBA finals. By aligning with culturally relevant moments, brands can build deeper connections and enhance their authenticity.

Creative Catalysts: Embracing AI-driven creativity

The Creative Catalysts theme underscores the role of AI in shaping content creation and engagement. AI tools are increasingly being used to enhance ideation, streamline production, and encourage creative experimentation.

For example, Lidl embraced the #potaxie trend, leveraging AI to create an imaginative, avocado-inspired shopping experience. By tapping into AI-driven storytelling, brands can craft more engaging and interactive content.

The expanding role of AI

AI continues to play a transformative role in digital marketing, particularly within the Creative Catalysts theme. The report identifies several AI-driven advancements that brands can leverage:

– Faster content creation: AI facilitates quicker ideation and production processes.
– Enhanced storytelling: AI-generated voices, multilingual avatars, and animation tools are reshaping digital narratives.
– Personalised experiences: AI enables businesses to tailor offerings based on individual preferences.
– Operational efficiency: AI-powered solutions improve workflow and content adaptation.
– Real-time insights: Tools such as Symphony Assistant help brands track trends and develop creative concepts instantly.
– Diverse content variations: AI assists in generating multiple iterations of content to suit different audience segments.

Despite its advantages, AI adoption is not without challenges. The report acknowledges the anxieties surrounding AI’s potential, recommending a “playful and creative approach” to help users view AI as a tool for innovation rather than a disruptive force.

Also Read: User-generated content: Why this social strategy is one you should invest in

Key takeaways for brands to win TikTok in 2025

As businesses plan their digital strategies, the What’s Next Report 2025 outlines several critical considerations for success on TikTok:

– Prioritise cultural resonance: Understanding and integrating emerging cultural trends can enhance brand engagement.
– Empower creators and communities: Encouraging collaborative content creation fosters stronger connections with audiences.
– Embrace AI-driven creativity: Leveraging AI tools can streamline content production and unlock new storytelling possibilities.
– Remain adaptable: As consumer expectations evolve, brands must continually refine their identity and messaging.
– Maintain consistency: A persistent and engaging presence helps sustain long-term relationships with audiences.

TikTok’s What’s Next Report 2025 underscores the platform’s evolving landscape and the growing importance of cultural adaptability, creative risk-taking, and AI integration. As brands navigate these shifts, success will depend on their ability to forge deeper connections, experiment with innovative content strategies, and remain responsive to changing consumer behaviours.

By embracing these principles, businesses can position themselves for sustained growth in an increasingly dynamic digital environment.

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The market wrap for February 27, 2025, paints a vivid picture of a world grappling with choppy risk sentiment, spurred by US President Donald Trump’s latest pronouncements on trade policy. His remarks during Wednesday’s cabinet meeting—laden with ambiguity about tariffs on Canada and Mexico, hints of a delay from March to April, and a firm declaration of 25 per cent reciprocal tariffs on European autos—have sent ripples of unease across global markets.

Add to that a slew of economic data points, corporate earnings, and geopolitical developments, and you’ve got a recipe for volatility that’s keeping investors on their toes. Here’s my take on what’s unfolding, grounded in facts and a healthy dose of skepticism about where this all might lead.

Let’s start with Trump’s trade rhetoric, which has once again thrust uncertainty into the spotlight. His contradictory signals about tariffs on Canada and Mexico—major US trading partners—suggest a strategy that’s either deliberately fluid or frustratingly inconsistent.

On one hand, he’s floated a potential delay, pushing the timeline from March to April, which could buy time for negotiations or simply prolong the suspense. On the other, he’s doubled down with a pledge for 25 per cent tariffs on European autos and other goods, a move that’s less about surprise (given his long-standing “tariff man” persona) and more about escalation.

The markets despise ambiguity, and Trump’s words have delivered it in spades. Investors are left parsing his intentions: Is this a negotiating tactic to extract concessions, or a genuine prelude to a broader trade war? The historical precedent from his first term—where tariffs on steel and aluminum roiled markets but often softened in practice—offers little comfort when the stakes now seem higher and the global economy more fragile.

The economic data isn’t helping soothe nerves either. US new home sales took a nosedive in January, dropping 10.5 per cent to 657,000 units. That’s a stark signal of cooling demand in a housing market already battered by high interest rates and affordability woes. For context, this figure undershoots even the most pessimistic forecasts, hinting at deeper structural issues—perhaps a pullback in consumer confidence or a ripple effect from trade-related uncertainty.

Housing is a bellwether for broader economic health, and this bearish turn could amplify growth concerns, especially as Trump’s policies threaten to layer on inflationary pressures via tariffs. It’s no wonder equity markets have been volatile, with traders caught between macroeconomic red flags and the micro-level drama of corporate earnings.

Also Read: Market wrap: Consumer sentiment dips, stocks slide, bonds gain and crypto brief dip

Speaking of earnings, Nvidia’s latest report was the week’s marquee event, and it didn’t disappoint—or rather, it didn’t fully satisfy. The chip giant, a darling of the tech rally, posted results that beat analyst expectations, yet the stock wobbled in after-hours trading. Why? After two years of blowout performances that fuelled AI-driven euphoria, this “modest beat” felt like a letdown.

Investors have grown accustomed to Nvidia shattering ceilings, and anything less sparks doubts about whether the growth story has peaked. The broader MSCI US index eked out a negligible 0.03 per cent gain, buoyed by a 0.8 per cent rise in the Info Tech sector, but the lack of decisive momentum reflects a market wrestling with bigger questions. Are we seeing the limits of tech-led optimism in an environment where tariffs and inflation could crimp corporate margins?

Meanwhile, fixed-income markets offered their own commentary. The benchmark 10-year Treasury yield slipped 4 basis points to 4.25 per cent, a subtle nod to growth fears trumping inflation worries—for now. Lower yields signal a flight to safety, as investors bet on a slowing economy potentially forcing the Federal Reserve to rethink its rate-cut trajectory.

The US Dollar Index, up 0.1 per cent to 106.49, suggests some resilience, likely propped up by Trump’s tariff threats enhancing the greenback’s safe-haven appeal. Gold, too, ticked up 0.1 per cent to US$2,915.92 an ounce, hovering near record territory as a hedge against uncertainty. These moves aren’t dramatic, but they underscore a cautious repositioning amid the noise.

Across the Atlantic, MSCI Europe climbed a solid 1.0 per cent, lifted by a new minerals deal between the US and Ukraine. It’s a rare bright spot, hinting at strategic shifts in resource alliances that could cushion Europe against trade disruptions. But let’s not kid ourselves—European autos, now squarely in Trump’s tariff crosshairs, could drag sentiment down fast. Companies like Volkswagen and Stellantis, with heavy exposure to North American supply chains, face a reckoning if those 25 per cent duties stick. The sector’s already nursing wounds from a post-pandemic slump, and this could be salt in the wound.

Asia, meanwhile, tells a tale of resilience and divergence. The MSCI Asia ex-Japan index rebounded 1.5 per cent, with Hong Kong’s Hang Seng stealing the show at a 3.3 per cent surge. The catalyst? News that China plans to recapitalise its biggest banks, a move that could stabilise a financial system creaking under bad debt and sluggish growth.

It’s a bold step, and the market’s enthusiastic response suggests hope that Beijing’s got more tricks up its sleeve. Yet, early trading today showed Asian indices mixed, and US equity futures point to a softer open stateside. The global mood remains jittery, and China’s bank rescue might be a temporary salve rather than a cure.

Also Read: Global markets on edge: Trade wars, tariffs, and crypto chaos in focus

Then there’s the cryptocurrency saga, a wild subplot in this market drama. Over US$800 billion has evaporated from global crypto markets in recent weeks, a brutal reversal from the post-election euphoria tied to Trump’s perceived pro-crypto stance. Bitcoin shed 3.6 per cent on Wednesday, hitting US$85,600, while Ethereum took a 4 per cent dive to US$2,275—its lowest since September.

The culprits are manifold: inflation fears, tariff anxieties, a cooling meme coin craze, and a US$1.4 billion hack at the Bybit exchange, linked to the notorious Lazarus group. The forensic fallout confirms it was a targeted attack, not a flaw in Safe Wallet’s smart contracts, but the damage to confidence is real. Crypto’s 4 per cent daily drop mirrors the broader sell-off in risk assets, and Ethereum’s 53 per cent lag from its 2021 peak is a stark reminder of how far the mighty can fall when sentiment sours.

Oil, too, is feeling the heat. Brent crude slipped 0.7 per cent to US$72.71 a barrel, pressured by an unexpected buildup in US fuel inventories and whispers of a Russia-Ukraine peace deal. The latter could ease supply concerns, but the former points to weakening demand—a troubling sign when paired with the housing data. Energy markets are a microcosm of the push-pull between geopolitical hope and economic reality, and right now, reality’s winning.

So, what’s my point of view on all this? I have mentioned this many times in the past few days. I see a world at a crossroads, where Trump’s trade gambit could either spark a manageable reshuffling of global commerce or tip us into a deeper slowdown. The data—housing’s slump, oil’s slide, crypto’s crash—screams caution, yet pockets of strength in Europe and Asia hint at adaptability.

Nvidia’s underwhelming “win” feels symbolic: growth is still possible, but the easy gains are gone. Investors are right to be skittish; tariffs could stoke inflation just as growth falters, a stagflationary nightmare the Fed’s ill-equipped to handle if yields keep dropping. I’m skeptical of Trump’s ability to thread this needle—his track record leans more toward disruption than finesse. But markets are nothing if not resilient, and the next few weeks, with Fed testimony and more tariff clarity looming, will test that resilience to the hilt. For now, I’d say buckle up: this ride’s only getting bumpier.

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Lorien Finance, a fintech firm connecting global capital markets with students in emerging economies, has secured US$2.25 million in pre-Series A funding.

The funding round was led by FlatIronX, a New York-based early-stage VC firm with strong ties to Asian markets. Additional investors include Seedstars International Ventures (SIV), backed by IFC, Visa Foundation, The Rockefeller Foundation, and Symbiotics, as well as Ahimsa Capital, Bhavesh Gupta (Ex-Paytm President & COO), Ashneer Grover (ex-BharatPe MD), Play Holdings, and Silver Ridge Accelerator.

This investment aims to enhance its education financing platform and facilitate expansion into key markets, including Southeast Asia.

In the first phase, the company will expand its reach to Tier 2 and Tier 3 cities in India, where financing access is limited. By 2026, Lorien Finance aims to extend its student loan services to Southeast Asian countries, providing tailored financing solutions like tuition support, flexible repayment plans and scholarships.

Lorien will also strengthen its AI-driven risk assessment technology to expedite underwriting decisions and offer more personalised financing solutions for students and lenders.

Also Read: Breaking barriers: How crypto is disrupting education funding

With the global education financing market projected to exceed US$500 billion by 2029, Lorien Finance addresses students’ affordability challenges in emerging markets. It connects students to a US$3 billion+ lending pool from over 17 international lenders, including Sallie Mae, offering interest rates as low as 3.49 per cent.

To date, over 1,000 Indian students have applied for funding through Lorien Finance.

According to Acumen’s 2024 Key Trends in Southeast Asia report, over 350,000 Southeast Asian students are studying abroad, making the region the third largest globally for outbound student mobility, following China and India. Lorien Finance leverages AI-driven lending and a global lender network to make education financing more accessible, faster and smarter.

Nikhil Mudgal, founder & CEO of Lorien Finance, stated that the investment will enable the company to offer personalised funding solutions and empower lenders to make confident, real-time decisions.

Shreya Choubey, Partner at FlatIronX, highlighted Lorien Finance’s digital-first lending process and data-driven risk assessment model as key factors in its compelling value proposition, benefiting both students and lenders.

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Indigenous entrepreneurs in Indonesia often face challenges in adopting sustainable business practices due to limited access to resources and financial constraints. This is why the Siak Sustainable Creative Center (Skelas) aims to bridge this gap through the Siak Sustainable Business Incubation (Kubisa) programme, providing training, mentorship, and funding opportunities for micro, small and medium enterprises (MSMEs) in Siak Regency, Riau Province.

Skelas was founded as a result of the Festival Kabupaten Lestari (FKL), an event organised by Lingkar Temu Kabupaten Lestari (LTKL) to promote sustainable development. “During the festival, LTKL invited young people to participate and contribute. Seeing their enthusiasm, LTKL took the initiative to form a community that could support the Siak district government in protecting the local environment,” said Cerli Febri Ramadani, Chairperson of Sentra Kreatif Lestari Siak.

By integrating sustainability into business models, Skelas aims to empower entrepreneurs while ensuring ecological responsibility.

Overcoming barriers to sustainable business

MSMEs in Indonesia encounter several obstacles in their transition to sustainability. “The biggest challenges faced by MSMEs in Indonesia are the availability of skilled human resources and digital technology experts in business,” Ramadani noted.

High costs for raw materials and wages in Siak compared to the more highly populated Java further complicate the situation.

To address this, businesses in Siak differentiate themselves by sharing the cultural and environmental stories behind their products.

Also Read: Navigating the shift: From “growth at any cost” to embracing sustainability in today’s startup landscape

Ramadani highlighted Pinaloka, a business that produces pineapple-based goods. “Pineapple is the most widely cultivated crop by the people of Siak on peatlands. Besides being rich in vitamins, pineapple plants also help prevent peatland fires. The story of environmental sustainability and the empowerment of pineapple farmers is an important aspect highlighted by Pinaloka.”

The Kubisa programme is designed to equip early-stage and existing entrepreneurs with the skills and resources needed to grow their businesses sustainably. “KUBISA is a training and mentoring programme for entrepreneurs who are just starting a business or have been running one for at least a year,” Ramadani explained.

The six-month programme provides business development support, promotional access, product innovation funding, packaging redesign, and capital assistance for top-performing participants.

Skelas also facilitates business matching sessions, connecting entrepreneurs with investors and buyers to secure funding and distribution channels. By focusing on both financial viability and sustainability, the programme helps entrepreneurs scale their businesses responsibly.

Ensuring economic viability for sustainable businesses

Balancing environmental and economic sustainability is a core objective of Kubisa. “We help KUBISA participants record their income to monitor the economic growth of their businesses,” said Ramadani.

Post-business matching, Skelas tracks the outcomes and assists participants with proposal preparation, product consignment, and purchase facilitation.

This structured approach ensures that businesses contribute to environmental protection and achieve financial stability, making sustainability a practical and profitable choice for MSMEs.

Strategic partnerships play a crucial role in strengthening sustainability efforts. “Every time Skelas conducts an activity, it invites community, government, and business partners,” Ramadani stated.

For the 2024 Kubisa programme, local communities assisted in outreach efforts, the Siak District government provided funding through the Tourism Office, and the National Amil Zakat Agency (BAZNAS) of Siak contributed additional training in digital media. Such collaborations enhance the programme’s reach and effectiveness, providing participants with broader support networks.

Also Read: Breaking silos and building sustainable synergy: The importance of an integrated sustainability strategy

Skelas has already facilitated significant milestones through KUBISA. “Skelas has collaborated with the Siak Tourism Office and also received funding support of IDR120 million (US$7,300) for the KUBISA 2024 Demoday event,” said Ramadani.

Additionally, BAZNAS provided financial assistance worth IDR60 million (US$3,600) to 10 participants.

One notable success story involves a business matching participant securing a product placement deal with Viera Oleh-Oleh, a major souvenir retailer in Pekanbaru. Another participant obtained a zero per cent capital loan to purchase an oven, illustrating the tangible benefits of the incubation programme.

Looking ahead, Skelas envisions a broader impact beyond Siak. “Skelas aims to become an incubator that not only operates locally in Siak Regency but also expands to Riau and across Indonesia,” said Ramadani.

To achieve this, the organisation is working towards obtaining BNSP certification for its incubation team and expanding its partnership network.

Measuring impact is also a priority. Skelas is exploring the Social Return on Investment (SROI) framework to assess the economic, social, and environmental value generated by its initiatives. By adopting these measurement tools, the organisation aims to refine its approach and drive long-term sustainable development.

Through initiatives like KUBISA, Skelas is not only fostering sustainable entrepreneurship but also demonstrating that environmental responsibility and economic growth can go hand in hand. By supporting MSMEs with training, funding, and strategic partnerships, the programme is laying the groundwork for a more sustainable business ecosystem in Indonesia.

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Image Credit: Skelas

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The rapid advancement of modern technologies, such as artificial intelligence (AI), automation, and digital platforms, is significantly reshaping the workforce landscape in Malaysia. While these technologies offer immense opportunities for growth and innovation, they also present substantial challenges that demand urgent attention.

As Malaysia positions itself for economic growth and development in a highly competitive global market, the need for re-skilling and up-skilling has become a strategic imperative. 

However, these advancements come with the potential displacement of jobs, especially in sectors where routine tasks can be easily automated. According to a study,  71 per cent of employees are concerned that advancements in artificial intelligence (AI) and technology will impact their jobs. This anxiety is compounded by the widening skill gap, which is causing considerable unease among the workforce.

Companies have a critical role to play in addressing this challenge, but to date, few have taken it seriously. While 63 per cent of Malaysian employees are hopeful that AI will enhance their ability to work flexibly, how many will fully recognise the importance of up-skilling and re-skilling?

The importance of re-skilling in the age of automation and AI

As automation and AI become more prevalent, up-skilling and re-skilling growth opportunities have become equally crucial for staying competitive. Many traditional jobs are being replaced by technology, making it essential for workers to adapt and learn new skills to remain employable. Continuous learning and development will be necessary to navigate the rapidly changing job market and ensure long-term career success.

In industries where automation is being integrated, employees who possess advanced technical skills, such as data analysis, programming, or AI, are more likely to remain valuable to their employers. Moreover, up-skilling and re-skilling enable workers to take on more complex tasks that cannot be easily automated, thus securing their roles in the company.

Furthermore, up-skilling and re-skilling not only benefit individual workers but also contribute to the overall growth and innovation within companies. When employees acquire new skills, they bring fresh perspectives and ideas that can drive business transformation.

Also Read: Kuala Lumpur: The Silicon Valley of Malaysia

This continuous evolution of skills fosters a culture of innovation, where companies can adapt more swiftly to market changes, embrace new technologies, and stay ahead of competitors. In this way, up-skilling and re-skilling become integral to both personal career advancement and the sustained success of the organisation.

Re-skilling as a strategic imperative

In today’s fast-paced technological world, re-skilling is considered a strategic imperative for several reasons. It enables companies to remain agile and responsive to changes in the market. By investing in the continuous development of their employees, companies can build a workforce that is capable of adapting to new technologies and processes, which is critical for staying competitive in a dynamic environment.

The advent of AI and automation has raised worries about job displacement, as machines increasingly handle tasks that were once done by humans. Nevertheless, it’s important to acknowledge that these technologies also generate new job opportunities and positions. Although some jobs may disappear, new roles arise that demand human supervision, creativity, and problem-solving skills.

For Malaysia, which has set its sights on achieving high-income nation status, the importance of re-skilling cannot be overstated. This investment in human capital is critical for closing the skills gap and ensuring that the workforce is aligned with the demands of a modern, knowledge-based economy. By empowering individuals with the skills needed to thrive in emerging industries, Malaysia can unlock new opportunities for growth, attract foreign direct investment, and enhance its competitive edge on the global stage.

The role of  employers in addressing the re-skilling challenge

In this context, organisations play a crucial role in addressing the re-skilling challenge. As employers, they are at the forefront of the workforce transformation and have a responsibility to ensure that their employees are equipped with the skills needed to adapt to technological changes. However, despite the clear need for re-skilling, many companies in Malaysia have yet to take this challenge seriously.

One reason for this is the short-term focus on profitability and cost-cutting. Investing in re-skilling programs requires time, resources, and a commitment to long-term workforce development, which can be seen as a cost rather than an investment.

Additionally, there is a misconception that re-skilling is solely the responsibility of employees or educational institutions. As a result, companies may overlook the strategic importance of developing a skilled and adaptable workforce, which is essential for sustaining their competitive edge in the market.

Another factor contributing to the reluctance of companies to invest in re-skilling is the uncertainty surrounding the future of work. With technologies evolving rapidly, it can be challenging for companies to predict which skills will be most valuable in the future.

Also Read: Navigating the AI maze in Malaysia’s martech: Striking a balance between efficiency and ethics

This uncertainty can lead to a wait-and-see approach, where companies delay investing in re-skilling until there is more clarity. However, this approach is risky, as it can leave companies and their employees unprepared for the inevitable changes that are already underway.

Ensuring relevance and impact

Development programs play a vital role in ensuring that individuals and companies are well-prepared to navigate the rapidly changing job market. One of the key ways to ensure its programs remain relevant and impactful is by staying closely connected to industry trends and needs. We at OpenAcademy regularly collaborate with industry experts, companies, and thought leaders to identify emerging skills and design programs that address these gaps.

Learning and development programs should be tailored to meet the growing demand for working professionals in Malaysia, a need driven by the increasing frequency and sophistication of AI and automation. By offering specialised training that aligns with industry requirements, platforms like ours are able to help both individuals and companies stay ahead of the curve.

For companies, partnering with education platforms provides access to cutting-edge training programs that can be customised to meet their specific needs. This collaboration enables companies to build a skilled and adaptable workforce that can thrive in the face of technological disruption. Whether it’s re-skilling to transition into a new role or up-skilling to advance in one’s career, providing the resources and support needed to succeed is crucial

Harnessing the opportunities of a tech-driven future in Malaysia

Technology creates opportunities by opening up new avenues for employment in tech-driven industries. The demand for skills in data science, AI, cybersecurity, and digital marketing is on the rise, leading to the creation of high-value jobs that did not exist a decade ago.

For Malaysia, which is striving to transition from a labour-intensive economy to a knowledge-based one, this shift presents a chance to attract foreign direct investment and enhance its global competitiveness.

In conclusion, as modern technologies continue to impact the workforce in Malaysia, the importance of re-skilling and up-skilling cannot be overstated. Companies must recognise the strategic value of investing in their employees’ development, while individuals must embrace continuous learning to stay competitive.

With its commitment to relevance and impact, OpenAcademy stands as a key partner in navigating the challenges and opportunities of the future of work in Malaysia.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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This article was first published on August 22, 2024

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The journey from a research lab to the fascinating world of space tech is never easy; it requires a blend of technical expertise, entrepreneurial spirit, and an unwavering commitment to innovation.

My journey began in Romania with a childhood passion for space, ignited by my father’s early astronomy lessons. The sight of the Hale-Bopp comet fuelled my space dream, leading me to the world of plasma and electric propulsion systems.

After years of study and practical experience with Hall thrusters in Europe and Japan, I was drawn to Singapore to continue my studies. It was here that the seeds of Aliena were sown. I joined the Space Propulsion Centre, where I applied my expertise to build and establish space propulsion research and associated ecosystems. This experience solidified my belief in the potential of electric propulsion and spurred the development of Aliena’s signature technology.

 The core of Aliena: Miniaturised propulsion systems

Aliena develops low-power engines that enable satellites to fly closer to Earth and many other mission scenarios. Our core technology is the miniaturised Hall effect thruster, a type of electric propulsion system. Unlike chemical propulsion, which uses combustion to generate thrust, electric propulsion uses electrical power to create a plasma from a gas, typically xenon. It uses a magnetic field to make a very dense plasma, extracting and accelerating ions using an electric field to generate thrust.

While Aliena’s engines produce small forces, they offer significantly higher fuel efficiency, up to 3x that of a chemical engine. Our team then worked for nearly five years on miniaturising the Hall thruster, which now can operate at just 100 watts, a tenth of the original power requirements. This miniaturisation is a game-changer for small satellites to perform more ambitious missions. This was demonstrated in January 2022 when our propulsion system was deployed on the smallest satellite to carry a Hall thruster, launched by a SpaceX Falcon 9 rocket.

In addition, our engines enable satellites to deorbit at the end of their lives, leaving behind a clean space for future generations. They also facilitate gathering higher-quality data from space, which can be used for everything from environmental monitoring and resource management to disaster response.

Lessons from joining the Lee Kuan Yew Global Bbusiness Plan Competition, a global startup competition

Our participation in the 11th edition of the Lee Kuan Yew Global Business Plan Competition (LKYGBPC) in 2023 — organised by Singapore Management University’s Institute of Innovation and Entrepreneurship (SMU IIE) – was a great opportunity for Aliena to showcase its technology. We were one of the finalists in the competition, which played an important role in our growth. The competition provided a platform to gain significant exposure and access invaluable networking opportunities.

Also Read: Creativity at the heart of business growth

In addition, we received the Haina Innovation Prize, which led to a trip to Zhejiang, China, connecting us with the deep-tech ecosystem there. This international engagement has given us access to more customers and potential partners.

The program also opened doors to further engagements and thought leadership opportunities. One notable experience was being invited to moderate a panel and showcase Aliena at a signature LKYGBPC event, organised in collaboration with Horizons Ventures and the Asia Philanthropy Association.

LKYGBPC highlighted the crucial role of such platforms in supporting deeptech startups. The space tech sector requires significant investment over long periods, and government policies and investors need a deep understanding of the space industry’s potential. The event helped bridge this gap, showcasing the commercial viability of our technology.

Singapore: A fertile ground for space tech

Singapore, with its dynamic talent pool and strong government support, has provided the ideal base for Aliena. The country’s strategic location facilitates market access across Asia, Europe, and the US. The support we received from various government agencies, like the Office for Space Technology and Industry (OSTIn) and Enterprise Singapore, has been critical in our journey.

Challenges and overcoming them

However, the journey has not been without its challenges. On a personal level, maintaining focus and pursuing one’s dreams amidst societal pressure can be difficult. As an entrepreneur, securing adequate funding, particularly in the early years of a deeptech startup, is a constant struggle.

Moreover, finding skilled talent for a niche technology like ours is equally challenging. While Singapore is known as an investment hub due to its access to foreign talent, more needs to be done to strengthen the investment pool for the space sector. Government support and lobbying play a critical role in stimulating capital investment.

Despite the challenges, Aliena has achieved several milestones since the LKYGBPC. The most significant was closing a US$5.6 million Series A investment. We have also commissioned a larger facility, Aliena’s Advanced Jet Propulsion Test and Production Facility, featuring a dedicated production line and a larger R&D space.

Our presence in major scientific and commercial exhibitions, including the Space Propulsion Conference, the International Electric Propulsion Conference and the Space Tech Expo Europe, has significantly raised our profile.

We also got featured in NASA’s State-of-the-Art Small Spacecraft Technology Report, validating our technical expertise and progress. We also received four best paper awards at the International Electric Propulsion Conference in Toulouse, France.

Also Read: Innovation meets endurance: The crucial balance for modern businesses

The future of space tech is bright

The space industry is undergoing rapid growth and the space economy is forecast to hit US$1.8 trillion by 2035, up from US$630 billion in 2023 and growing at an average of nine per cent per annum.

Satellite technology is now integral to many aspects of our lives, from navigation and weather forecasting to communication.

However, significant challenges remain. Space debris is a growing concern, requiring stringent regulations for satellite deorbiting. The supply chain for space technologies is often fragmented and susceptible to geopolitical factors, leading to extended production times. And there is the potential militarisation of outer space.

To address this, we need strong governmental policies and oversight from commercial entities to ensure that space remains a peaceful frontier for generations to come. We are also working on in-situ resource utilisation (ISRU) to use materials found on other celestial bodies, including water, to create fuel.

Pushing the boundaries

The space industry is at an inflexion point, with technological advancements accelerating at an unprecedented pace. As deeptech startups like Aliena push the boundaries of what’s possible, they also face significant challenges—from securing funding to navigating regulatory landscapes and talent shortages.

However, space tech can drive transformative change across industries with continued innovation, strategic collaborations, and strong governmental support.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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Artificial intelligence (AI) is not new to the legal tech world. For years, leading legal tech vendors touted the power of machine learning to help lawyers work more efficiently and effectively. With the advent of generative AI, the promises are even greater.

However, AI solutions are not all created equal. It’s easy enough for some vendors to promise that they’ll help legal teams work faster, but faster isn’t always better. We’ve all heard about lawyers who placed too much faith in AI platforms that weren’t engineered for lawyers, with disastrous results.

That’s why it’s important for buyers to look for legal tech solutions that have been built specifically to solve the unique challenges that lawyers face – and why it’s important for software developers to listen to their customers.

In fact, that’s how BoostDraft got its start: a lawyer and a coder sat down together and started thinking about the possibilities. It was important to both of them to invent something brand-new that would add real value to the legal tech landscape.

That ethos continues to guide BoostDraft today. We listen to our customers to understand their needs, and they tell us about their pain points. That mutually beneficial relationship has led us to understand that the solutions we create must be practical, simple, and secure – including AI applications.

AI in legal tech must be practical

Legal tech industry leaders agree: in 2025, experimental AI is done. Real organisations need real solutions to the challenges they face every day.

Lots of vendors sell bloatware, overloaded with features that customers didn’t ask for. It’s important for legal tech providers to focus on the actual pain points that legal teams face.

There are myriad practical applications for AI in legal tech. AI tools are streamlining contract lifecycle management (CLM) by automating aspects of contract drafting, review, negotiation, and risk analysis. AI is revolutionising e-discovery by quickly analysing high volumes of digital data to identify relevant evidence, reducing the time, cost, and risk of discovery in litigation.

Lawyers are deploying AI chatbots and virtual assistants to handle routine client interactions, answer FAQs, and assist with basic legal inquiries. And these are just a few of the real-world applications for AI in law.

At BoostDraft, creating practical solutions is a direct result of listening to our customers and what they tell us about the challenges they face every day in the practice of law. We listen to our customers because they help us make BoostDraft even better on an ongoing basis. Every feature we add is a direct response to a genuine customer need.

Also Read: Rethinking AI adoption: Why Southeast Asia’s businesses must transform to thrive

AI in legal tech must be simple

We’ve heard lots of horror stories from customers of never-ending AI software implementations. Teams should be able to get started using new tools in a relatively short timeframe. The business landscape changes quickly, and competitive businesses change with it. If a team adopts software that isn’t ready to use until a year later, the business will have changed by then – and that software may no longer be what they need to get their work done.

Beyond implementation, there’s the question of actually using the software from day to day. If customers don’t know how to use the software’s latest features, they can’t get any value from those features.

For us, keeping it simple means providing a lightweight solution that complements the way our customers work. It’s a plugin that installs quickly in Microsoft Word, the platform that lawyers already use every day to draft, review, and edit contracts. A straightforward user interface makes our tools easy for end users to learn and adopt.

AI in legal tech must be secure

It’s not enough to deliver work product without regard to quality. Lawyers place high importance on the quality of their work, from the validity of their legal advice to the lack of typos and basic grammatical errors. As a legal tech vendor, it’s therefore essential to deliver results that legal teams can trust.

AI outputs for legal teams can’t be rife with hallucinations. It’s crucial to understand the limits of the algorithm, and to be upfront about what it can and can’t do. No lawyer will ever turn over their job completely to the software; they simply want to work more efficiently. That means AI solutions must support and enhance an attorney’s workflows with useful, reliable outputs.

Also Read: The future of work with AI: 2025 and beyond

Security also entails responsible, transparent use of customer data. Software developers must use industry-standard practices such as data encryption to ensure that vital customer data doesn’t fall into the hands of malicious actors. They must also be forthright about how they train their AI models, and set up safeguards to ensure that customer data is not used to train AI without permission.

At BoostDraft, security entails transparency about the use of customer data. Our software works on-premise and on-device, so it doesn’t require users to upload documents to the cloud. We don’t access customer data to train our models. And of course, we use industry-standard security practices. That lets customers know they’re in safe hands.

Strengthening the vendor-customer relationship in legal tech

Listening to customers and creating practical, simple, secure solutions to their challenges. What’s the result of developing solutions that follow these principles?

Our customers have rewarded us with an exceptionally low churn rate. Once legal teams get started using our software, they keep using it. That tells us that we’re on the right track.

Of course, we acknowledge that different vendors address different market segments and problems. Legal tech solutions can potentially target not only transactional practices, but also lawyers who focus on litigation, bankruptcy, employment law, and other areas. Some vendors build highly tailored solutions for enterprise customers, while others do better with SMB or midsize customers.

All of those legal teams, though – from law firms to in-house counsel, and from corporate to litigation and beyond – benefit from practical solutions that they can use to securely address their challenges today.

And lawyers looking for solutions should focus on customer-centric providers who follow those principles.

—

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Dear reader,

The unravelling of Indonesia’s eFishery offers a sobering reminder of how quickly a celebrated success story can collapse. Once Southeast Asia’s darling in the aquatech space and Indonesia’s only homegrown unicorn as of 2023, eFishery now faces an existential crisis amid allegations of systematic financial fraud spanning five years.

At the centre of this storm stands Gibran Huzaifah, the ousted CEO whose rags-to-riches narrative captivated investors and media alike. While Huzaifah acknowledges discrepancies in the company’s accounting, he vehemently denies personal enrichment and challenges recent reports about his compensation.

The fallout has been catastrophic, with 98% of staff made redundant and thousands of fish farmers left in the lurch. What makes this case particularly troubling is the apparent scale of misrepresentation, with revenue allegedly inflated by a staggering US$600 million.

As Southeast Asia’s startup ecosystem continues navigating the tech winter, the eFishery scandal raises uncomfortable questions about due diligence practices and the pressure to show impressive growth metrics. With shareholders now contemplating winding down operations – potentially recovering just 10% of their investments – this cautionary tale highlights the fragility of unicorn valuations when built on questionable foundations.

The coming weeks will likely bring further revelations as investigations continue, but the damage to trust in Indonesia’s startup ecosystem may prove far more enduring than eFishery’s brief moment in the spotlight.

Sainul,
Editor.

—-

NEWS & VIEWS

eFishery ex-CEO calls billion-rupiah salary claim ‘untrue’
Gibran Huzaifah’s salary slips for Jan, Sept, Oct, and Nov 2024 show that his gross salary was about 313M rupiah (US$19,138, while his take-home pay was around 206M rupiah (US$12,550) per month.

Kredivo acquires earned wage access company GajiGesa for nearly US$12M
Reports suggest the GajiGesa sale was prompted by shareholder pressure due to problems obtaining further funding, which may have resulted in losses for investors.

TECHCOOP secures US$70M in one of Vietnam’s largest agritech funding rounds
The investors include TNB Aura, Ascend Vietnam Ventures, AppWorks, and Capria Ventures | TECHCOOP provides a B2B platform that delivers end-to-end solutions for export-oriented supply chains.

Ant International appoints Grab veteran Worachat to lead 2C2P
Worachat will spearhead 2C2P’s strategic upgrade from serving mainly enterprise customers to serving businesses of all sizes, including SMEs across Southeast Asia.

Indonesia to inject US$20B into sovereign wealth fund yearly
Danantara will collaborate with other investors, including Ray Dalio’s Bridgewater, holding a 50:50 ownership in certain projects | This partnership could allow the firm to manage investments worth up to US$160B annually through leverage mechanisms.

FBI says North Korea ‘responsible’ for US$1.4B Bybit heist
On February 21, Bybit said it had been a victim of a heist where hackers netted 401,346 Ethereum | Bybit has since launched a US$140M bounty to get help tracing and freezing the stolen funds.

SG-based Horizon Quantum Computing explores US$500M public merger
Horizon and dMY Squared have signed a non-binding LoI to explore a potential merger | The LOI values Horizon at US$500M pre-money, with both parties aiming to finalise a definitive agreement by Q2 2025 and close the transaction by year-end.

Duolingo forecasts up to US$978.5M revenue in 2025
For Q1 2025, the company expects revenue between US$220.5M and US$223.5M, aligning closely with projections of US$221.1M | For 2025, adjusted core profit is forecasted between US$259.9M and US$274M.

Mosaic Solutions acquires HelixPay, partners with PayMongo to streamline PH commerce
This move aims to create a unified commerce platform, connecting in-store and digital operations for businesses across all consumer sectors.

Alpha JWC leads pre-Series A round for Indonesian healthtech startup Bumame
500 Global and Kopital Ventures are the other investors | Bumame provides modern diagnostic solutions, proactive health screenings, and personalised health guidance.

Lorien Finance nets US$2.25M to expand student loan access in India, SEA
The investors include FlatIronX, Seedstars, and The Rockefeller Foundation | Lorien connects students to a US$3B+ lending pool from 17+ international lenders offering interest rates as low as 3.49%.

Singaporean SMEs bleeding millions due to poor cash management
Nearly half of Singapore’s SMEs prioritise guaranteed returns and liquidity, opting for low-yield traditional banking, finds Syfe survey.

Taiwanese AI firm Crescendo Lab expands to Singapore
The AI-driven conversational commerce solutions firm aims to assist local businesses in enhancing customer engagement and streamlining operations through WhatsApp integration.

Indian court fines Amazon US$38.9M for trademark violation
The Delhi High Court has ordered Amazon to pay US$38.89M to Lifestyle Equities for trademark infringement related to the Beverly Hills Polo Club (BHPC) logo | Lifestyle Equities argued that Amazon’s private label, Symbol, sold products with a similar logo.

Malaysia’s Ficus Capital invests in Singapore’s Morpheus Labs
Morpheus Labs is an AI-powered Web3 implementation platform | The funding will support its work in simplifying blockchain implementation, making it easier for businesses and developers to build, deploy, and manage decentralised applications.

FEATURES & INTERVIEWS

South Korea’s top 30 VC deals of 2024: A year of shifts and surprises
South Korea’s 2024 startup funding saw a downturn, but key sectors like AI, healthtech, and semiconductors attracted major VC investments.

Efficiency and data ownership: Why citizen-centric service design is key to Estonia’s e-government
One of Estonia’s most innovative approaches to digital governance is its decentralised data management system.

Skelas’s incubation programme empowers Indonesian MSMEs
By supporting MSMEs, the programme is laying the groundwork for a more sustainable business ecosystem in Indonesia.

Greater creative ownership is key to win TikTok in 2025
As businesses plan their digital strategies, the What’s Next Report 2025 outlines several critical considerations for success on TikTok.

AI adoption is an area of maturity for SMEs, but they have advantage over big corporations: Aicadium’s Robert Young
AI enables SMEs to scale efficiently and compete in the evolving tech landscape, a process that begins with quality and productivity.

FROM THE ARCHIVES

From general knowledge to personalised recommendations: The evolution of AI search engines
AI has become an accessible, efficient tool for users seeking anything from basic facts to complex legal definitions in search queries.

Navigating Asia’s startup ecosystem: Where to build, grow, and scale your company
This guide covers Asia’s top startup hubs, tips for selecting the right location, and strategies for scaling your venture across the region.

AI: The secret ingredient for unlocking developer success in Asia
AI offers developers more time to build new skills while also serving as an excellent coach to enhance their growth.

Procrastination and the Zeigarnik Effect: A founder’s guide to getting things done
Procrastination goes beyond laziness, often arising from fear of failure, perfectionism, low self-control, or feeling overwhelmed by a task’s size.

Notice periods: Are long goodbyes a sign of inefficiency?
Shorter notice periods reflect efficiency, enable smoother handovers, and boost morale by allowing employees a clean and timely transition.

Top 5 strategies on how startup founders can drive healthy, rapid growth in an uncertain economy
Startups can still thrive in a volatile market by making smart and sustainable decisions that align with the unique regional context.

Is generative AI the game-changer for productivity?
While Generative AI can automate various tasks, it cannot entirely replace human creativity, empathy, and critical thinking.

Harnessing AI for robust backup and disaster recovery
With AI, organisations can ensure their data is securely backed up, protected against evolving cyber threats, and recoverable during disasters.

Business travel in the new normal: Strategies and tools for SME travel programme
As the pandemic eases, the strategies and tools need to reflect the shift of the new travel landscape for SMEs.

How to not let the bots ruin your travel plans
As the travel industry emerges from the pandemic’s disruption, fraudulent activity continues to plague its digital advertising campaigns and marketing budgets.

How one LinkedIn message changed the fate of my failing startup
The inspiring pivot story of BeLive technology and how it survived its near-fatal death with a single opportunity.

Future-proofing hotels to stay ahead of the curve
How can hotels future-proof themselves against labour shortages, supply-chain disruptions, climate change and even new pandemics?

How technology can influence the beauty and cosmetics industry
The demand for high-tech beauty products has boomed since the lockdown, giving rise to a range of devices that claim to improve the efficacy of skincare products to those that replicate anti-ageing spa treatments.

Are you using your air miles? The future of air miles with NFTs
Using NFTs, airlines can create a tamper-proof way to record customer preferences for loyalty program benefits and ensure that the points are secure for future benefits.

Navigating Asia’s business boom: The quantum leadership advantage
At the dawn of a new era in business, quantum leadership principles provide a compelling path to success in Asia.

Navigating the relationship between ChatGPT and the travel industry
ChatGPT is still a new application anyway, and travel information is endless with changes happening almost daily.

Is India on the verge of shifting gears to EVs?
To emerge as a leader in the global space for electric vehicles, India should chart a plan to manufacture every sub-system required by EVs.

Why continuous learning is key to employee retention in the modern workforce
To retain Gen Z employees, it’s crucial to understand their workplace values and why continuous learning is important to them.

Singapore’s green future – Are homes and condominiums ready for EVs?
As the adoption of electric vehicles (EVs) accelerates, Singapore’s homes and condominiums must prepare for this shift.

THOUGHT LEADERSHIP

Beyond the launch: What makes app fail?
Avoid common pitfalls in app startups by focusing on retention, scalability, and understanding real user needs for success.

Market recap: Europe gains, crypto falls, and trade fears grow
Global markets react to Trump’s latest trade policy signals, economic data, and corporate earnings, fueling uncertainty and volatility.

The future of work: Navigating the shift to flexible talent models
The future of work blends traditional and flexible models, creating an ecosystem where both coexist and complement each other.

Is job hopping a new form of career mobility?
Millennials and Gen Z are increasingly pursuing career growth through job hopping over traditional internal development within a single organisation.

Market wrap: Consumer sentiment dips, stocks slide, bonds gain and crypto brief dip
Explore today’s market trends as scepticism grows amid policy uncertainty, tariff fears, and slowing economic growth.

Build a scalable, profitable businesses without the cash burn
Learn how to build sustainable businesses that thrive by focusing on smart growth strategies rather than just scaling fast.

Rethinking AI adoption: Why Southeast Asia’s businesses must transform to thrive
The future of Southeast Asia’s digital economy depends on its ability to embrace AI with purpose, innovation, and integrity.

The post Ecosystem Roundup: eFishery ex-CEO denies billion-rupiah salary claim | Kredivo acquires GajiGesa for ~US$12M | TECHCOOP raises US$70M appeared first on e27.

The numbers tell a story of retreat: major US equity indices took a beating on Thursday, with the S&P 500 sliding 1.5 per cent and the Nasdaq plunging 2.8 per cent. Nvidia, a darling of the tech world, stumbled 8.4 per cent despite exceeding earnings expectations—a sign that even stellar results can’t always appease jittery investors.

Meanwhile, the bond market stirred, with the 10-year Treasury yield ticking up 3 basis points to 4.28 per cent and the 2-year yield edging to 4.07 per cent. The US Dollar Index surged 0.8 per cent, its biggest one-day leap in two months, fuelled by tariff headlines that have markets on edge as the March 4 deadline looms for Canada and Mexico, alongside whispers of a 10 per cent hike for China.

Gold, often a safe haven, didn’t escape the pressure, dropping 1.1 per cent to its lowest in over two weeks, while Brent crude bucked the trend, climbing 2.1 per cent amid supply worries tied to Trump’s revocation of a US oil major’s license in Venezuela. Across the Pacific, the MSCI Asia ex-Japan index fell 0.88 per cent, poised for its first weekly loss in seven weeks, with Asian equities mostly lower in early Friday trading.

The cryptocurrency space mirrored this gloom. Bitcoin cratered below US$80,000 on February 28, hitting US$79,666—its weakest since November 11, 2024—shedding over 5 per cent in a single day and 25 per cent since its mid-December peak above US$105,000. Ethereum fared even worse, tumbling to a 14-month low of US$2,150, down 20 per cent in a week, hammered by risk aversion and institutional selling.

BlackRock, the world’s largest asset manager, offloaded 30,280 ETH across four transactions to Coinbase Prime, while its iShares Ethereum Trust dumped US$70 million worth of ETH. Other heavyweights like Fidelity, Grayscale, and Bitwise pulled US$24.5 million from their Ethereum accounts, amplifying the sell-off. The Crypto Fear and Greed Index plunged to 10, signalling “extreme fear” not seen since 2022’s market crash.

Yet, amid this chaos, Ethereum’s derivatives market offers a glimmer of resilience: 30-day ETH futures trade at a 7 per cent premium over spot prices, up from 6 per cent two days ago, and options skew at -2 per cent suggests whales aren’t panicking—echoing a recovery pattern from a 38 per cent drop on February 3.

My take: Navigating the storm

This week feels like a wake-up call—a reminder that markets, for all their sophistication, are still tethered to human sentiment and political whims. Let’s unpack it. The retreat in global risk sentiment isn’t a bolt from the blue; it’s been brewing in a cauldron of events that sparked profit-taking. Consumer confidence dipped below expectations on Tuesday, a red flag for an economy that thrives on spending.

Then came Nvidia’s earnings—objectively strong, yet not dazzling enough to halt the sell-off in the AI complex. Investors seem to be recalibrating, perhaps realising that the semiconductor boom (phase 1 of the AI story) might be giving way to infrastructure hyperscalers (phase 2) and software applications (phase 3). Add to that a softening labor market—possibly a ripple from the Trump administration’s Department of Government Efficiency culling—and the stage was set for Thursday’s tumble.

The tariff saga is the elephant in the room. With Trump pushing ahead on Canada, Mexico, and China, markets are grappling with uncertainty. Tariffs could jolt supply chains, inflate costs, and squeeze corporate margins—hardly a recipe for bullishness.

The US Dollar’s jump reflects this tension, pressuring risk assets like equities and crypto. Gold’s decline surprises me less; it’s a crowded trade, and profit-taking was overdue. Brent crude’s rise, though, underscores how geopolitical moves—like Trump’s Venezuela decision—can override broader risk-off vibes in specific sectors.

Also Read: Market recap: Europe gains, crypto falls, and trade fears grow

Crypto’s woes deserve a closer look. Bitcoin’s drop below US$80,000 feels like a gut punch to the bulls who saw it as a Trump-era golden child. Hopes of US support for digital currencies are fading, overshadowed by tariff uncertainties and a US$1.5 billion Ether hack that’s spooked the market.

Ethereum’s plunge to US$2,150 is uglier still, driven by institutional exits that signal distribution, not just panic. BlackRock’s moves are telling—when the biggest player starts unloading, others follow. Yet, the derivatives data intrigues me. That 7 per cent futures premium and neutral options skew suggest a core of confidence among big players, hinting at a potential floor. History backs this up: Ethereum’s 38 per cent drop on February 3 was a prelude to a swift rebound. Could we see that again? It’s possible, but not guaranteed.

So, where does this leave us? I see a few paths forward. First, fixed income is shining as a stabiliser. With the 10-year yield at 4.28 per cent, bonds are outpacing the S&P 500 year-to-date—a rare feat that underscores their role in turbulent times. I’ve long felt US stocks were pricey; the S&P 500’s consolidation feels healthy, a chance to buy the dip if you’re nimble.

Also Read: Global markets on edge: Trade wars, tariffs, and crypto chaos in focus

The Mag7’s 9 per cent year-to-date loss stings, but the Other 493 stocks holding a 3 per cent gain show resilience outside the tech bubble. Timing matters—today’s PCE inflation data could tip the scales. A hotter-than-expected read might fuel more selling as February closes, so brace for volatility.

China’s an outlier worth watching. The February 17 Symposium, chaired by President Xi, has sparked optimism about private enterprise, driving a sharp rally. But technicals scream overheating—RSI and MACD indicators are flashing red. I’d approach this via derivatives—options or futures—to cushion downside risk. The move’s been too fast to dive in blind.

On the AI front, I’m not writing it off. The Nvidia slump doesn’t kill the story; it shifts it. Semiconductors are cooling, but infrastructure (think cloud giants) and software (AI apps) are heating up. Rotation, not collapse, is my read. Crypto’s trickier—Bitcoin and Ethereum are battered, but the derivatives hint at a bottoming process. I wouldn’t bet the farm yet; “extreme fear” can linger. Still, if you’re a contrarian, nibbling at these levels could pay off if March brings clarity on tariffs and policy.

The Bigger Picture

Zooming out, this week encapsulates 2025’s volatility. Trump’s tariff plans, economic softening, and sector rotations are rewriting the playbook. Investors face a choice: hunker down in bonds and wait, chase China’s momentum with caution, or hunt for bargains in beaten-down tech and crypto.

I lean toward a balanced approach—some fixed income for safety, selective equity dips (O493 over Mag7 for now), and a watchful eye on crypto derivatives for signs of life. The PCE data today could be a pivot point; a benign number might steady nerves, while a spike could deepen the rut.

Either way, this isn’t a crisis—it’s a correction with opportunities for those who can stomach the ride.

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join us on Instagram, Facebook, X, and LinkedIn to stay connected.

Image credit: DALL-E

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Meet Capital is the latest early-stage VC firm in town. An affiliate of the innovation consulting firm Meet Ventures, Singapore-based Meet Capital is already deploying its maiden US$10 million fund across Asia and beyond to back exceptional founders solving big real-world problems. The VC firm writes cheques of up to US$500,000 in early-stage, tech-enabled startups.

Led by General Partners John Lim, Farhan Firdaus, Matthew Tang, and Antron Lim, Meet Capital has access to proprietary deal flow generated by all the accelerator programmes run by Meet Ventures in the past five years. The firm claims it also has strong relationships with hundreds of active investors and community partners.

e27 spoke with John Lim to learn more about Meet Capital’s investment philosophy, its focus, and the state of the VC industry in Southeast Asia.

Edited excerpts from the interview:

Can you tell us more about the vision behind Meet Capital’s creation? What gap in the market are you hoping to address?

Meet Capital typically invests after a startup has achieved product-market fit. We see ourselves as the first investor to support their entry into the growth stage. This is also the stage where we can provide the most value-added support in the form of business introductions and market expansion advisory.

What specific types of technologies or industries are of particular interest to the fund?

We are technology agnostic because the success of most companies lies not in their technology but in their ability to transform deep customer insights into real-world solutions.

Also Read: The secret sauce of de-risking early-stage venture capital

That being said, we recognise the undisputed importance and need of AI and, by extension, the need for proprietary data sets. Startups that can collect and leverage unique data sets will gain a strong competitive advantage. We are industry agnostic because we believe that good startups can come from any industry. We can rely on the help of industry experts to critically evaluate these startups during the due diligence process.

What kind of companies does Meet Capital consider to be “solving big real-world problems”? Can you give some specific examples?

We define big real-world problems as problems with at least a billion-dollar market opportunity.

For example, if a startup sells an AI-powered learning tool for US$1,000 per year and has at least 1,000,000 potential clients in its local market, we can assume that it has a large enough market to pique our interest.

Meet Capital’s first fund is deploying US$10 million across Asia and beyond. Can you share some insights into the geographic focus of your investments and why you chose to invest beyond Asia?

Meet Capital is headquartered in Singapore, so we primarily focus on the vibrant markets of Southeast Asia. The region’s rapid growth (projected to reach US$600 billion in GMV by 2030) presents numerous investment opportunities. This rising region, despite global economic challenges, has shown resilience with continued double-digit revenue growth. We have a deep understanding and networks in the region that can benefit our portfolio companies.

That being said, we also remain open to compelling opportunities in other markets because we believe that all great startups will eventually have international aspirations and become global companies. Therefore, a leading startup from the US or China could very likely expand into Southeast Asia eventually.

How does Meet Capital navigate the complexities and nuances of investing in the diverse markets of Southeast Asia?

Southeast Asia is a market with diverse needs and preferences. We need to adopt a localised approach when doing business or investing in the region. One way we achieve this is by having either full-time or part-time staff on the ground in each of our target Southeast Asian markets. Having strong local networks helps us better source local startups and also provides us with local insights to make better investment decisions.

What is Meet Capital’s perspective on the current state of venture capital in Southeast Asia? What are some challenges and opportunities you see?

One key challenge is the continued decline of venture funding in Southeast Asia, which in 2024 has fallen to about a fifth of the peak it recorded in 2021. Late-stage funding, in particular, has reached historic lows in 2024, coming in even lower than early-stage investments in the first nine months of 2024.

Outcomes in Southeast Asia have been significantly less capital-efficient compared to other markets, which is keeping large global investors away. Also, investors anticipate greater uncertainties weighing on the region under the new US administration.

Also Read: Rethinking venture capital: 5 ways it goes beyond investing

Nevertheless, we believe that Southeast Asia still presents many exciting opportunities. The regional digital economy is estimated to be around US$263 billion in GMV and is projected to continue growing and progressing towards profitability. Southeast Asia is also emerging as a global hub for AI innovation and adoption, having attracted over US$30 billion in commitments to AI infrastructure in H1 2024.

For early-stage investors who are actively deploying in Southeast Asia now, the reset in startup valuations will create favourable entry points into various investment themes with great upside potential.

There’s no dearth of early-stage funds in Southeast Asia, but late-stage investment is scarce. When do you think the late-stage VC landscape will return to its glorious days?

The return of a robust late-stage VC landscape may take some time. While there are signs of improvement expected in 2025, driven by potential interest rate cuts and increased investments targeting Southeast Asia, a full recovery to “glorious days” is not guaranteed in the immediate future.

There are steps, however, that stakeholders in the regional ecosystem can take to improve the situation. Ambitious startups in Southeast Asia can take a bet on going global, which would make them more attractive to later-stage investors because it opens up more exit options for these investors. Regional governments, on the other hand, can work on boosting liquidity for tech companies in the public markets of Southeast Asia, which have been tepid.

How do you see the current global economic climate impacting the VC landscape in Southeast Asia, and how is Meet Capital adapting to these changes?

The current global economic climate has led to more cautious decision-making in Southeast Asia’s VC landscape. Meet Capital will adapt by selectively prioritising companies with clear paths to profitability over those pursuing growth at all costs.

Also Read: What did we learn from failing to raise VC funding?

Profitable startups that optimise costs and streamline operations are not only better equipped to weather economic downturns and market fluctuations, but they are also more attractive to discerning investors seeking sustainable business models and potential acquirers.

How do you see the SEA’s VC landscape evolving in 2025?

Some key developments could include:

• Increased regional focus: More founders are designing ventures with regional scalability in mind from day one.
• Bifurcation of investment strategies: Some funds may focus more on strategies aligned with the West and others on the East.
• Sector-specific growth: Generative AI and automation technologies will remain dominant topics. Fintech and Healthtech might also see growth.
• Improved funding environment: Industry players can expect a more buoyant funding landscape, driven by expected rate cuts and increased investment inflows.

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