NGC Ventures closes US$100M fund to invest in Web3 projects
NGC Metaverse Ventures has already made early investments in Everyrealm, VR Jam, and EthSign; In 2021, NGC Ventures, in partnership with Solana Foundation, announced the launch of a US$20M strategic investment fund.
VCs raise record funds for Southeast Asia, India as money leaves China
SEA- and India-focused VCs have raised US$3.1B so far in 2022, already nearing the US$3.5B they raised in all of 2021, says a Preqin report; In comparison, fundraising by China-focused VCs fell sharply from US$27.2B in 2021 to just US$2.1B.
MDI Ventures to launch an impact fund with Alvin Evander at the helm
The new fund will explore sectors with tremendous opportunities in Indonesia, such as agri, education, healthcare, SMEs, energy, and waste management; A DealStreetAsia report said the VC firm is exploring a US$100M impact fund.
Tech layoffs top 15K in a brutal May
A number of tech companies that enjoyed pandemic-related surges are facing a correction, due to a number of factors, from rising inflation, economic distress, war and shifting consumer taste buds.
Temasek’s Fullerton raises US$100M for Thai private equity strategy
Fullerton is partnering with KBank Private Baking, Land and House Asset Management and Hatton Equity Partners for this; It has plans to invest in eight to 12 mid-sized Thai companies.
HK Crypto firm First Digital Trust raises US$20M
Investors include Telegram backer Nogle and Kenetic Capital; The company will use the funds to expand into Singapore, the UK, and Canada; First Digital Trust offers solutions for the delivery of digital asset custody.
Indonesian quick commerce firm Astro bags US$60M
Investors include Tiger Global, Accel, Citius, AC Ventures, GFC, Lightspeed, and Sequoia India; Astro is a quick commerce form currently operating in almost 50 locations across Greater Jakarta and has 1,500+ products.
Fundnel to launch SEA secondaries fund for European investors
It could launch in Q3 2022 with a target corpus of US$75-100M; The fund is being launched in partnership with Singapore-based Aris PrimePartners Asset Management.
Seedstars bullish on Asia, appoints new partner
The Swiss pre-seed and seed-stage VC aims to increase the exposure in Asia to 25-30% of its portfolio; Asia partner Patricia Sosrodjojo said the firm intends to expand its SEA portfolio.
Jungle Ventures may invest in Vietnamese edutech startup Edupia
The startup is reportedly raising US$8M; Edupia is an English learning app targeted at primary school students; The firm also offers Babilala, a similar app for preschool children; It has earlier raised US$2M from eWTP and ReDefine Capital.
Golden Gate Ventures to open two offices in Vietnam
The VC also signed an agreement with the Vietnam National Innovation Center to bring investments into the market and help Vietnamese startups build regional businesses; It currently has offices in Singapore, Vietnam, and Indonesia.
Indonesia promotes gender equality in digital entrepreneurship
A survey reveals that Indonesia has the highest rate of female entrepreneurship engagement in SEA; 8 out of 10 women who are already or new to entrepreneurship in Indonesia, desire to improve their skills in doing business.
Co-working spaces in Singapore here to stay despite mass return to office
Experts and co-working spaces said that more MNCs are jumping onto the “hub-and-spoke” model, where they have a smaller, traditionally leased headquarters and co-working spaces.
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