Vietnamese tech major VNG’s valuation slashed to US$364M
VNG was the country’s first tech unicorn and was once reportedly valued at US$2.2B; VNG shares will be traded on the Unlisted Public Company Market, which is the board for firms not yet listed on the Hanoi Stock Exchange.
GIC was the world’s most active state investor in 2022
The US$690B fund of Singapore spent over US$39B in 72 deals; Over half of that was piled into real estate with a clear bias towards logistics properties.
Indonesia’s multi-brand kitchen operator Legit Group raises US$9M+
The investors are MDI Ventures, SMDV, and East Ventures; The recent filings indicate that the company could raise an additional amount of up to US$4.65M in the round.
Major US-listed Chinese tech firms drop HK listing plans
Pinduoduo has delayed discussions about a potential listing in Hong Kong; While Full Truck Alliance, a Chinese truck-hailing platform, has also dropped its original plan to list shares in Hong Kong in January.
GIC, Saudi wealth fund to invest US$785M in Kakao Entertainment
The subsidiary of South Korean internet company Kakao plans to use the money to accelerate its growth as the company prepares for its upcoming IPO this year.
Bahamas takes temporary control of US$3.5B FTX assets
FTX’s assets were transferred to digital wallets under the Commission’s control for safekeeping until the Supreme Court of the Bahamas directs the Commission to return the assets to FTX customers and creditors.
Alternative plastic startup Alterpacks raises US$1M pre-seed money
The investors are Plug and Play APAC, SEEDS Capital, and Earth Venture Capital; Alterpacks upcycles food loss in manufacturing to create a biodegradable and home-compostable material to replace plastic food containers.
From ‘crypto winter’ to ‘ice age’? What does 2023 hold for digital assets
According to Alex Au, founder of HK’s Alphalex Capital, most investors will wait out the downturn, storing their digital assets in a ‘cold wallet’, a digital wallet that is not connected to the internet, to prevent hacking.
What startup founders don’t know about exit strategies
Startups are facing challenges in getting fresh funding; many of them are close to the runway; This means that we can expect a pick up of M&A activities as founders will look to exit when there is a lack of cash flow.
How to put CX at the heart of digital acceleration journey
Simply automating backend processes is no longer enough for companies to truly fulfil their digital potential; Customers are becoming more tech-savvy, and with a better understanding of technology comes less tolerance for poor CX or UX.
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The post Ecosystem Roundup: VNG’s valuation slashed to US$364M; Legit Group raises US$9M+; GIC was world’s most active state investor in ’22 appeared first on e27.