Of COVID-19 and funding winter: Why these 2 VC firms are bullish about SEA amid back-to-back crises
Intudo Ventures and Altara Ventures discuss how they view the recent crises and what to expect in the long term, and whether unicorns are to be celebrated.
VNG eyes Nasdaq debut, may offer 12.5%
The proceeds will be used to expand across different business segments and build a bigger presence beyond Vietnam; Tencent is currently the largest shareholder in VNG with 29.6% interest, while Singapore’s GIC holds 7.8% and Temasek 4.9%.
AC Ventures said to be raising US$500M across two funds
It is targeting US$250M for its early-stage Fund IV and a separate US$250M for a new ‘select fund’ to double down on growth-stage winners from its portfolio.
Animoca Brands banks US$75M+ more to fund strategic acquisitions, investments
Investors include Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, and 10T; Animoca will also use the money to secure licenses for popular IPs and advance the open metaverse.
Alibaba to lay off over 30% of investment team
This means that the strategic deals team, which has more than 110 members, will be trimmed to around 70. The layoffs will mostly affect mid-level and senior staff based in mainland China.
Lightspeed sets aside US$500M for India, SEA startups from US$7B global fund
The Silicon Valley-based fund has invested in several prominent startups in India and SEA such as Energy Exchange, Oyo, Byju’s, Grab, Acko, Razorpay, Udaan, and ShareChat.
3AC founders drop off the map, hinder liquidators
Lawyers representing 3AC founders Su Zhu and Kyle Davies had previously informed a British Virgin Islands judge that the two intend to cooperate with the court’s order for the firm to liquidate, but those tasked to see the process through had not received any “meaningful cooperation” from the hedge fund.
KKday extends Series C round to US$95M for domestic expansion
Lead investor is TGVest Capital; KKday, an e-commerce platform for tours, experiences and activities, will roll out its SaaS solution rezio to manage bookings and inventory for merchants to 1,600+ merchants worldwide, reaching 2.7M travellers globally.
Temasek leads US$100M round of Indian fintech OneCard
This puts the startup in the unicorn club with a valuation of US$1.3B; OneCard is a mobile-first metal credit card; Its parent firm also operates a credit score tracking and credit management platform, OneScore, which reportedly has nearly 70M users.
Indonesia’s Doku buys Malaysian fintech firm SenangPay for US$7.5M
The acquisition will help SenangPay adopt new services – such as e-wallets, remittances, and offline transactions – that can help its merchants go from brick-and-mortar models into digital businesses.
Razer seeks US$7M from Capgemini for 2020 data breach
The breach resulted in leaking the personal information of more than 100K Razer users; Razer alleges that the breach was the result of a misconfiguration of the “ELK Stack,” caused by one of Capgemini’s employees.
Singapore mental health startup Intellect raises US$10M in Series A+
Investors include Tiger Global, K3 Ventures, JAFCO Asia, Singtel Innov8, Insignia Ventures, and HOF Capital; The fresh injection will be used to scale Intellect’s commercial expansion plans and teams across Asia.
Axie Infinity sales bounce back after US$620M hack
Co-founder Jeffrey Zirlin said in a tweet that daily sales of Axies had reached 22K earlier this month, an over 3x surge from 7K a few weeks prior; He also highlighted that the Ronin Bridge is operational again.
Indonesian proptech startup Tanaku raises US$5.5M pre-seed capital
The lead investor is East Ventures; It will use the fresh capital to build the product, expand the team, acquire homes, and execute the go-to-market strategy; Tanaku aims to build a ‘pre-mortgage solution’ for owning a home.
Indonesia’s Imajin raises pre-Series A from Init-6
Imajin is a platform that bridges demand and supply in the manufacturing industry; In its home market, Imajin plans to expand to several cities in Java and the Riau Islands province.
Ex-Grab director launches firm for Indonesian influencers
Albert Lucius has launched TipTip, a digital platform aimed at monetising social media influencers; The company previously raised US$10 million in a seed round led by East Ventures.
TNB Aura funds ex-Grab founding exec’s brand aggregator
Tjufoo was co-founded in 2022 by TJ Tham, a former founding member of Grab, where he headed GrabBike Indonesia and was also the CEO of GrabWheels; Tham is bringing an “Indonesia first” approach to helping small businesses through equity capital.
1982 Ventures backs SG wealth management startup Hugosave’s US$4M round
Hugosave helps customers spend, save, and invest through its automated online platform; It said its platform has since acquired over 40,000 users.
Coinbase-backed Vauld files for 6-month moratorium amid growing liabilities
The company disclosed that it currently has US$330M in assets and US$400M in liabilities; The mismatch is mainly due to losses on Bitcoin, Ether, and Polygon trades, as well as exposure to failed stablecoin UST.
Why Buhler believes that collaboration is key to support the alternative protein industry
Dr Aparna Venkatesh of Buhler explains the important role that partnership plays in their mission to support the alternative protein industry.
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