In addition to Alibaba and Kaola, we also have updates from Swiggy, theAsianparent, SCB, and Sea Group

Alibaba acquires NetEase Kaola for US$2B – TechCrunch

Chinese internet giant Alibaba Group has acquired NetEase Kaola for US$2 billion, TechCrunch reported.

Tmall Import and Export General Manager Alvin Liu has been named as Kaola’s new CEO, replacing Zhang Lei.

Following the acquisition, Kaola will continue to operate independently under its own brand.

Citing a press statement made by the two companies, the report said that they will integrate Kaola into Tmall, creating what is said to be the largest cross-border e-commerce platform in the country.

Reports of the acquisition have circulated since weeks ago; it is said to had stalled in August after the companies reportedly disagreed on transaction details.

“We are pleased to have found a strategic fit for Kaola within Alibaba’s extensive ecosystem, where Kaola will continue to provide Chinese consumers with high-quality import products and services. At the same time, the completion of this strategic transaction will allow NetEase to focus on its growth strategy, investing in markets that allow us to best leverage our competitive advantages,” said NetEase CEO William Ding.

India’s Swiggy launches new on-demand services – SCMP

Indian online food ordering and delivery startup Swiggy has launched new on-demand services that included intracity courier service to send small packages, South China Morning Post wrote.

Called Swiggy Go, the service will operate in the company’s home base of Bangalore and expand to more than 300 cities by next year.

Swiggy also announced a “phased rollout” of its on-demand grocery delivery service Swiggy Stores in Bangalore and Hyderabad, which enables orders from both family-run stores and supermarkets.

Also Read: Meet the 5 regional finalists of Alibaba-MDEC Jumpstarter 2020 competition

theAsianparent names Susana Tsui as new CEO of Media – e27

Southeast Asian platform for parents theAsianparent today announced the appointment of Susana Tsui as new CEO of Media.

This appointment comes after theAsianparent’s recent announcement of its market expansion plans and e-commerce market foray, following its Series C funding round led by Fosun and JD.com.

Tsui’s previous notable stints include as Asia Pacific CEO of PHD, and Asia Pacific COO of OgilvyOne.

Before joining theAsianparent, she was the Group CEO of Dentsu Aegis Network China (DAN), managing over 22 agency brands across five cities in the country.

Siam Commercial Bank expands to digital lending, partners with Sea Group – Reuters

Thailand’s Siam Commercial Bank Pcl (SCB) announced a partnership with e-commerce and game developer Sea Ltd’s Thai operations to provide payments and lending services, Reuters wrote.

The bank will provide lending services to small businesses on Sea’s e-commerce platforms.

Sea’s AirPay customers will also be able to pay bills via SCB’s apps.

The tie-up is in line with the bank’s strategy to secure partnerships and expand its digital capacity, including payments and lending.

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Image Credit: Adi Constantin on Unsplash

The post Today’s top tech news, Sept 6: Alibaba acquires NetEase Kaola for US$2B appeared first on e27.

CMIA Capital Partners is from Singapore while Bintang Capital Partners Berhad is from Malaysia

Oneberry Technologies Pte. Ltd. (“Oneberry”), an end-to-end security and surveillance solution provider, announced that it has received funding of S$30 million (US$22 million) from Singapore-headquartered private equity firm CMIA Capital Partners (“CMIA”) and Malaysia-based Bintang Capital Partners Berhad (“Bintang”).

With the fresh funding, Oneberry plans to expand its offerings while taking its products and services to a larger regional scale.

“The latest capital injection into Oneberry will enable us to step up our research and development initiatives, accelerate our compelling growth strategies, and allow us to explore emerging industries of growth, including cybersecurity,” said Arun Murthy, Deputy CEO of Oneberry.

Oneberry Technologies was founded in 2003. It offers to help address shortages in security manpower through technology solutions that “increase security, surveillance, and productivity”.

It claims to have clients from government agencies as well as public and private sectors, servicing the likes of the historic Trump-Kim Summit and 33rd ASEAN Summit held in Singapore in 2018.

Also Read: 5 reasons why startups should get a managed cyber security service provider

Ken Pereira, Founder and CEO of Oneberry, said: “CMIA and Bintang are ideal partners to help bring Oneberry to the next level, to help us execute our vision more rapidly into new sectors such as commercial, residential, industrial, retail, and also overseas where the opportunities are tremendous.”

Johan Rozali-Wathooth, Founder and Managing Partner of Bintang, commented: “Bintang hopes to deploy our resources and network in support of Oneberry’s expansion plans, and we are confident of a successful and productive partnership with the company.”

Oneberry said that it will also look to increase funding in its cybersecurity and robotics research and development programme, with the company looking to integrate connected Internet-of-Things (IoT) devices with traditional offline surveillance.

CMIA Capital Partners is a private equity firm headquartered in Singapore, focusses on control and growth capital investments in mid-sized businesses in Southeast Asia and China since 2003. In 2016, CMIA has pivoted to focus on Southeast Asia investments, especially in new economy, consumer, and technology sectors.

Bintang Capital Partners Berhad was established in January 2018, and has since deployed in excess of US$75 million of capital across various investments.

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Image Credit: Unsplash

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The new, unnamed capital city has been described as a “smart metropolis”

You may have heard about the Indonesian government’s plan to move its capital city from Jakarta to East Borneo –a plan that has been in mind for decades but has only been confirmed this year by President Joko Widodo.

While Jakarta will continue to become the centre of business activities, the new capital will be the administrative and political hub of the country.

Following up the announcement, the President revealed more details about the government’s vision for the new, unnamed capital city. In this report by The Jakarta Post, the new capital is described as a “smart metropolis”, designed to be a “melting pot of technological innovations that can sustain the country for the next century and beyond.”

Personally, I always warn myself to be sceptical of any vision or plan announced by the government until it actually materialised.

Also Read: Jakarta comes out as “challenger” to global startup ecosystems: Startup Genome Report

But the topic of capital relocation has been a discussion in the e27 Telegram Group, which houses at least 400 members located anywhere from Singapore to Nairobi (!). Within this discussion, the tonality was mostly positive.

One of the most exciting points that came up was about the possibility of stronger ties with East Malaysia, with startup communities emerging in places such as Kuching and Sarawak.

There is also a possibility that local startup communities in Borneo will finally get the kind of attention usually given only to communities on the island of Java, as the country’s most populated island.

Even the prospect of building a “smart metropolis” seems to offer opportunities for startups, especially those working in the smart city field. (It reminded me of this commitment from SoftBank, though)

So what is your take on this? Is this capital relocation something you are excited about? If your company has been based in Jakarta, would you consider adding a presence in [whatever the new capital will be named]?

Let’s discuss!

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Image Credit: ekoherwantoro on Unsplash

The post [Discussion] Indonesia is looking towards East Borneo for its new capital city. Should startups tag along? appeared first on e27.

An inspiring side hustle story of building an ecologically responsible business

Who I am

Hi, my name is Kan Yamamoto, and I am the designer of Kamino Wallet.

I started it as my side hustle, and since I opened my shop in June 2018, it has grown slowly. Though it is still a tiny business, I enjoy creating useful tools that are loved by many users around the globe.

Considering what I’m making from this project, I know it’s not that much, and it will take some more time to turn it into my full-time business.

But I’ve learned many things along the way, so I think it wouldn’t hurt to share my story.

About Kamino Wallet

Under this brand, I make minimalist, eco-friendly paper wallets out of washable paper.

Washable paper is a kind of material you would find as those labels on the back of your jeans. It is highly durable and even machine washable, which makes it an ideal alternative to leather while maintaining the paper-thin profile.

My wallets help you lighten the load on your pocket and the environment, by getting rid of the bulge and the cruelty of the conventional leather wallets.

The wrap wallet is my best selling product, and it is the best example of how my products stand out in terms of the design.

I apply the art of Origami — the traditional Japanese paper folding technique, to bring the full potential out of the material and make the most minimal wallet ever with maximum utility.

My backstory and how I came up with the idea

I am a self-employed graphic designer who also works as a woodworker/lumberjack. I was born and grew up in Kochi, Japan but moved to Europe and have spent my twenties in Switzerland and Berlin, where I practised graphic design and the fine arts.

After I graduated from the University of Art Berlin in 2011, I returned to Japan to dig deep into my cultural roots and to contribute to the local community.

Now I am living in a mountainous village in a suburban area of the city of Kochi. I love living near nature, and the quality of life here is irreplaceable, but one of the biggest problems in rural areas is that there are no jobs.

So I thought the best thing would be to learn how to create small businesses myself. And by doing it, I could be an example for the younger generation to show that it doesn’t matter where you live. You could build a global business, however small it is.

 Tosayama village, Kochi, Japan

With my background in art and design, I am a maker by nature, so I naturally looked for ideas for products that I can make myself by hand without much investment.

A wallet was my first choice because I genuinely needed it as a consumer but couldn’t find the right one that is slim, functional, and eco-friendly on the market.

 

My small workshop in the village

The process of designing, prototyping, and manufacturing my first product

I started designing wallets by prototyping with paper, looking for which form and style work best. I wanted it as minimal as possible, in its appearance as well as in environmental impact.

After trying various materials, paper, which I always had considered the material for prototypes, turned out to be the best solution for me. It also helped that I had some knowledge and experience with various kinds of papers as a graphic designer.

Soon after I finished the design of the first version, I wanted to see if there is a demand at all. So I quickly made a simple landing page to release the design as a free DIY template. And I asked visitors if they would be interested in the production version which will be made out of more durable material.

Also Read: The raging Amazon forest fires: Why businesses need to step up for climate change

I shared it on Twitter, Reddit, Medium, Instructables, etc., and to my surprise, I immediately got hundreds of downloads.

I could build a mailing list of about two hundred in a few months. Some people contacted me to give me their feedback on the usability of the design, and I kept refining the design based on that feedback.

One of the first prototypes made out of used Rhodia cover.

The process of launching the business

After I realized it could be a business by seeing the demand for the DIY version, I started to prepare for the launch. Finding the right kind of paper that is durable enough for daily use was hard, and in fact, I am still looking for the perfect material. But I eventually found a durable synthetic paper that is good enough for the first product, ordered it in bulk, and started making the actual products.

At the time of the launch, I had managed to have a mailing list of about 200 subscribers. Looking back, it is not that big at all, but I think that is enough for a start and assumed that a large number of them would place orders.

But I was wrong, dead wrong. I learned a hard lesson that subscribing to a mailing list and paying for a product is a different thing. In the end, only a few out of the list ended up buying my product.

I had zero knowledge of e-commerce at the beginning. But I have slowly learned many things by doing it, such as how to build a brand, website copywriting, and the way to optimize my site for conversions. Then I slowly started to gain customers from all around the world, and the designs have also evolved.

What worked for me to attract and retain customers since launch

What I care about the most is the personal connection with my customers. I always enclose handwritten thank you notes in the packages and respond to questions or feedback as openly as possible. One of my customers once wrote to me

“It’s great that you are so committed to customer service. These days it’s not normal anymore to get this kind of swift, effective and personal service.”

I also include one or two cards/bookmarks with a discount code printed that are made out of the same material as my wallets to encourage word of mouth. It would make it easier to refer a friend by simply giving a card so that they can touch and feel it.

After all, the digitized world we live in is sometimes rough and noisy, so this personal touch is what makes a difference in the long run. I believe being able to offer this kind of service is one of the strengths of being a small maker. And it certainly helps to build trust and retain my customers.

Thank you card that doubles as a bookmark.

What I’ve learned particularly helpful through starting the business

What surprised me the most is that many people on the internet do like to give feedback when I ask them to or when they genuinely love my idea/products. I think I made the right decision to release the DIY version as soon as possible to get feedback and brushed it up.

It is still relevant now, and listening to my customers is one of the best tactics I have learned when it comes to product development and marketing.

Another thing I am impressed by and thankful about and is how effectively the global postal network works. As I am based in a remote area, the logistics could have been a pain, but in reality, it works like a charm.

I can send my products out from a small post office in my village. Usually, within 10–14 days, they will arrive in North America and Europe, where most of my customers are.

Also Read: Can a sustainable workplace be profitable too?

By the effort of making my products and the packages as slim and lightweight as possible, I could reduce the shipping cost and ultimately afford to offer free shipping worldwide on all orders.

 The inspiration

I’m a kind of a bookworm, so I’ve read many books about starting a business, building a brand, or design/art in general, but my number one would be:

“Design for the Real World” by Victor Papanek

I always come back to this book whenever I want to make sure if I’m on the right track as a designer/maker. Let me quote one of my favourite lines.

Design, if it is to be ecologically responsible and socially responsive, must be revolutionary and radical in the truest sense. It must dedicate itself to nature’s principle of least effort, in other words, maximum diversity with minimum inventory or doing the most with the least. That means consuming less, using things longer, and being frugal about recycling materials.

Now and the future

Currently, it makes around US$1,000 in sales, of which about $600 is profit. So it is not a typical success story you usually see here. At least it is profitable as my side hustle, and I love doing it.

I get about 60–100 visits a day mainly through organic search, Instagram, and Reddit. And my current conversion rate is around 1 per cent, which would explain why it has been slow in sales.

I tried google ads for a while but couldn’t figure out how to make it work effectively, so I stopped it for now. While I would like to keep the business rather small, it could expand a bit more so acquiring new customers is the biggest struggle at the moment.

Regarding the cost and the profit, I try to keep the gross margins before ad-spend around 35–40 per cent for every product. The cost of labour is also around 40 per cent, which I am taking for now, but I would hire someone with it for making my products if it eventually scales in the future.

Based on the feedback from my customers, I have been designing new products, including notebook wallet and coin pouch. Also, I am talking with a manufacturer who produces even more eco-friendly material that has more colour variations so the products line up will undoubtedly keep growing.

It may sound optimistic, but I believe my business has the potential to turn into my full-time business eventually, or even beyond that.

It seems more and more people are interested in a simple, eco-friendly lifestyle, and my products would appeal to those audiences once I tuned in the right channels.

Advice for fellow side hustlers

All the above being said I guess I am nowhere near the position to tell anyone how to start/run business.

All I can say is that you need to take time to grow the business, so take it easy and don’t give it up too soon.

Thank you for reading, and I hope it could give you some inspirations for starting your side hustles!

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Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

Image Credit: Author

This article is the edited version of the interview done with Starter Story.

The post How I started a US$1K/M side hustle selling slim paper wallets from rural Japan appeared first on e27.

As trade flows between Southeast Asia and the rest of the globe intensify, the region will naturally become the battleground for startups

Internet of Things, data analytics and Artificial Intelligence are enabling greater efficiency and more collaborative models in the US$4-trillion logistics industry, and it continues to grow exponentially as consumer expectations evolve. Incumbent players are re-evaluating business models and increasing investments into technology to ensure competitiveness, optimise effectiveness, and drive efficiencies.

As per an estimate, 50 per cent of large global companies will be using AI, advanced analytics or IoT in supply chain operations by 2023.

The newly-launched Reefknot Investments (a JV between Temasek Holdings and Kuehne + Nagel International Swiss transport and logistics company), is looking to cash in on this opportunity. The Singapore-based VC firm has just announced a US$50M fund, which will look to invest in tech-enabled logistics & supply chain startups, globally.

In this interview with e27, Reefknot’s MD Marc Dragon sheds lights on the global logistics space and the fund’s plans.

What prompted Temasek and Kuehne + Nagel to come together to launch Reefknot? What are the objectives of the fund? What is your investment philosophy?

While Reefknot Investments is a 50-50 joint venture from Temasek and Kuehne + Nagel, I can’t comment on the reasons for my two Limited Partners (LPs) to come together to launch Reefknot.

However, I can share that while the primary objective of the fund is financial in nature, the overarching objective is to identify and support startups with the potential to transform the supply chain and logistics industry.

Our investment philosophy is to invest in high-growth technology companies pushing new frontiers within the supply chain and logistics space. Beyond the pure financial investment, we further leverage our ecosystem of partners to support our portfolio companies with the necessary domain or technical expertise.

Also Read: Temasek teams up with Swiss firm to launch a US$50M logistics fund in Singapore

Our platform provides founders access to the business insights of Temasek, the logistics and supply chain expertise of Kuehne + Nagel, and an ecosystem of high-value partners who will bring added support to help accelerate the startup’s business growth.

We are very selective about the startups that we shortlist, first and foremost of which is if their core technologies and/or business model are truly differentiated, and we have line of sight of potential industry impact. The founder or founding team is also highly important for us, and we would need to have confidence in their ability to bring their business to the level we jointly aspire them to.

Startups see us as an active strategic investor, and we aspire to support our highly-curated portfolio companies with whatever means we have at our disposal.

Can you share the names of your other LPs?

As of now, Temasek and Kuehne + Nagel are our only two LPs.

Will the fund invest only in supply chain & logistics companies? Which other verticals and geographies will you target?

The realm of supply chain and logistics is vast, and within that, we are specifically targeting several solution areas, including AI/deeptech, digital logistics, and trade finance.

As this is a global fund, there are more than sufficient opportunities in this space, and we are confident that our unique focused proposition, puts us in a very strong position globally to not only identify to invest in the select transformational startups, but also to provide the necessary financial, domain, and business development support for these startups.

What opportunities do you see in Singapore and in Southeast Asia?

The global supply chain & logistics industry is on the cusp of transformation, and Southeast Asia (SEA) is very much at the forefront of this. Also, the rise of the consumer class in SEA will be a significant factor with e-commerce projected to grow by 32 per cent to almost US$90 billion by 2025. As trade flows between Southeast Asia and the rest of the globe intensify, the region will naturally and increasingly become the battleground for both global startups, as well as incumbent companies in this space.

Singapore, with its strategic location and reputation as a world-class logistics and financial hub, will likely play a key regional-centric role in facilitating opportunities for companies seeking to shape this future by leveraging on new technologies and business models. That being said, it would be necessary for startups to adopt the ‘glocalisation’ mode of design and thinking, which includes the localisation of such technologies and business models within the individual Southeast Asian countries as well.

While there are quite a few funds in the region, there has been a slight decline in terms of fund deployment because there is speculation that VCs are just waiting for the impending economic recession to happen. What is your view?

We are investing for the medium to long term, and while we take into consideration the risks associated with the macro-economic climate as part of our commercial and financial analysis for each shortlisted company, we will invest if the opportunity fulfills our primary criteria.

Some others think that there aren’t that many good companies to back in Southeast Asia…

We have had multiple interactions with various startups within Southeast Asia, and I can say with certainty that many have the ability to grow, win, and potentially dominate within Southeast Asia. There are a select few that have their eyes on Asia and beyond, and if well supported, have the potential to compete with the world’s best.

Do you think the rise of super apps and decacorns in the region has limited the chances of budding startups?

Many super apps and decacorns work very closely with niche startups. These ecosystems can be symbiotic in nature, and can potentially nurture startups within their umbrellas.

In addition, each startup has its own DNA and potential for growth. Some have the potential to be the next unicorn, and some might be acquired by the said unicorn/decacorn.

That being said, the interplay between the specific solution area the startup is focusing in, their core technologies and business models, the capabilities of the founders, as well as the capabilities of their supporting ecosystem have much to do on how large or successful they will be.

As the supply chain & logistics industry faces a period of unprecedented change driven by digitalisation and evolving customer expectations, why the market needs someone like Reefknot Investments?

There are few funds globally that specifically focus on investing and nurturing especially Series A/B supply chain and logistics technology startups.

From our engagements in the industry, there are typically three areas that startups see us of value — the knowledge and know-how of the supply chain & logistics industry, the understanding of new and upcoming technologies and their applications to the industry, and finally, we are active investors that support the startups/founders.

Also Read: Former Zalo exec’s proptech startup Rever raises US$2.3M to expand in Vietnam

We will use this focus to our advantage, to not only curate and actively support potentially industry transformational startups, but we expect to also contribute to the broader ecosystems that we are involved in through a global think-tank initiative.

How Reefknot will consolidate and leverage an ecosystem of high-value partners to bring added support and help accelerate business growth?

The world is facing explosive global technology developments and growth, especially in emerging economies and cities in the Asia Pacific. Companies across global value chains are increasingly re-evaluating business models and investing in technology to optimise the capture of demand and improve cost and operational efficiencies.

This trend drives our initiative — which is to launch a think-tank that is not only looking to synergise new business models and technologies, but also create a community of industry experts to support and sustain the growth in the logistics and supply chain space.

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Most modern games have in-game virtual currency models that made the transition to cryptocurrencies much easier

Stakeholders in the gaming industry are known for having an appetite for the latest technology. And any user that has played in an immersive gaming world has used virtual currency.

Blockchain and gaming are two industries that can mutually benefit from a collision.

For instance, while blockchain’s immutable ledger can supply tools that enable better monetisation for both game players and game developers. The demand for virtual assets built on blockchain will create a use case that will drive mass adoption of blockchain technology.

Furthermore, a majority of industry leaders agree that there is great promise in the fusion of the two.

In a special report by Zage on the future of blockchain, Miguel Palencia the chief information officer at Qtum Foundation says that “gaming will be one of those” industries set to have the biggest opportunities for blockchain technology in the next 5 years.

Here’s a fresh look at some of the possibilities that could occur through a fusion of blockchain and gaming.

Improved user experience and compelling gameplay

Virtual reality is increasingly becoming the next big thing in gaming. Various reports indicate that since the release of the first Oculus and Samsung VR prototypes in 2015, the global revenue of Virtual Reality gear in gaming has reached a whopping USD$4.3 billion.

Mathew Campbell the CEO of Loom Network, believes that “blockchain opens up completely new and unique capabilities for true ownership of digital assets, provably  scarce items, eternal worlds/immortal characters and multi-game spanning universes.” All these possibilities will create an engaging and immersive gaming experience like never before.

Also Read: Trust : an essential component in the success of investment oriented blockchain projects

Add scarce and virtual collectables to the whole experience, and you give gamers endless possibilities that make the gaming experience worthwhile.

Furthermore, developers could create games that operate similar to Reddit’s Karma scoreboard and have players earn points, downvote or upvote other players.

Better monetisation

Mike Brusov, co-founder and CEO at Cindicator, believes that “in the next five years gaming will become an even bigger business.” Given that the industry is expected to be worth more than US$90 billion by 2020, there is no better time to introduce better monetisation tools for developers and gamers.

Brusov believes that gaming is among the industries that are most likely to put blockchain in use “as game assets become an increasingly important source of revenue.”

From as early as 2014, blockchain-enabled gaming apps like HunterCoin and CryptoKitties have proven that even basic level crypto-collectables can be used to express value within a game and improve opportunities for revenue both for the developers and the gamers.

Blockchain can also enable a trustless exchange of in-game items (such as virtual outfits) through smart contracts to further enable the industry to become lucrative. Already, reports are showing that trading virtual items in video games is estimated to be a US$50 billion industry.

Steve Bannon, a political strategist, and former investment banker are arguably one of the first individuals to exploit the lucrative upside of in-game assets and probably the first-ever crypto miner.

Also Read: A blockchain perspective: the irony of financial inclusion

It is reported that Bannon would employ an army of “low-wage Chinese workers” to play World of Warcraft to earn in-game gold.

Bannon leveraged multiple accounts to game the system and make millions off selling virtual goods in World of Warcraft for real money. 

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Join our e27 Telegram group here, or our e27 contributor Facebook page here.

Image Credit: Sean Do

 

The post What experts are saying about blockchain and gaming appeared first on e27.

The investment also marks the strategic partnership between the two companies, seeking to grow the private market ecosystem for both countries

Singapore private markets platform CapBridge Group just announced that it has partnered with South Korea-based Hanwha Investment & Securities Co., Ltd. (“Hanwha”). The partnership saw Hanhwa investing US$4 million for a stake in the company.

CapBridge provides a platform called 1exchange (“1X”), a regulated private securities exchange that facilitates pre-IPO, family-owned businesses, and growth-stage companies to match with international investors. Private companies can access integrated solutions to access private markets for capital, as well as a liquidity pathway that ensures control via a private listing on 1X.

With the partnership, private businesses in South Korea and Asia can now work with Hanwha and the CapBridge private markets platform.

Investors seeking higher-than-average returns from private equity will also be able to access such opportunities via the CapBridge private markets platform.

With CapBridge, individual investors can gain access to private equity via the Preferred Access route, from as low as S$5,000 (US$3,600). The purpose is to enable individuals to commit smaller investment amounts across multiple deals as a way to diversify portfolios.

Also Read: RHL Ventures joins hands with Korea’s Hanwha Group to develop and invest in startups in Southeast Asia

CapBridge operated as private securities exchange a Recognised Market Operator (RMO) since 1x was approved by the Monetary Authority of Singapore in 2018, which was reported by e27.

Hanwha is a part of South Korean multi-profile business conglomerate Hanwha Group that provides comprehensive asset management services, including brokerage and acquisition of stocks, bonds, and derivatives.

With the partnership, Johnson Chen, founder, and CEO of CapBridge, said that the company plans to offer more private markets opportunities to companies and investors in South Korea.

Kwon Hee-baek, CEO of Hanwha Investment & Securities, said, “With this partnership, we will collaborate with CapBridge and the private securities platform 1exchange, to introduce private markets opportunities to our customers across the region. We are expanding our global digital business and look forward to extending our footprint further in South Korea as well as the growing Southeast Asia private markets.”

According to a McKinsey & Co report, the private equity market in South Korea is the third-largest in Asia and poised for more growth. Global and local acquisitions and private capital committed have been steadily increasing, and returns from private equity have significantly outstripped the public market.

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Image Credit: CapBridge

The post Singapore-based private market platform CapBridge raises US$4M from South Korea’s Hanwha Investment & Securities appeared first on e27.