In Southeast Asia, the first half of April saw several equity investors joining investment deals across sectors. As expected, most of the companies that raised funding in the period have been seed-stage and early-stage startups.
We have compiled a list of the 13 Connect investors (those who have been verified by e27 and agreed to receive connection requests from startups) that have invested in Southeast Asian tech startups from April 1 to 15, 2023.
AppWorks
Based in Taiwan, AppWorks is a startup community and VC firm built by founders for founders. As a VC, AppWorks manages three VC funds, typically investing in seed to Series C companies. It funds 20 deals a year.
Its portfolio firms include Lalamove, Dapper Labs/Flow, Animoca Brands, 91APP, Figment, Carousell, ShopBack, Tiki, 17LIVE, and KKday.
It invested in Indonesian property rental startup Travelio last week.
SC Ventures
SC Ventures is a business unit in Standard Chartered to enable innovation, invest in disruptive financial technology and explore alternative business models. It primarily invests in fintech companies that enable forward-thinking capabilities and manages Standard Chartered’s minority stakes in its fintech partners. Its other focus verticals are AI, blockchain, finance, insurtech, and mobile.
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Last week, it invested in Singapore-based fintech startup BetterTradeOff.
Wavemaker Partners
Wavemaker takes a portfolio-building approach to early-stage (seed to Series A) investing. It usually starts with a US$100,000 to US$200,000 cheque and follows on until US$1 million. It has 15 member funds across four continents.
Wavemaker Group is a multi-faceted cross-border venture capital firm founded in 2003. The firm is dual headquartered in Los Angeles and Singapore and has raised over US$580M across multiple funds. In Southeast Asia, Wavemaker focuses on enterprise and deep technology companies.
Its Singapore-based investments include Luxola (acquired by LVMH), ArtofClick (acquired by Xurpas), and Pie (acquired by Google).
The VC firm backed TablePointer, an energy-efficiency-as-a-service (EEaaS) startup in Singapore, last week.
Global Founders Capital
GFC is a stage-agnostic investor. It invests in seed and Series A, or participates in later rounds. Its focus verticals are agritech, AI, AR, VR, Big Data, consumer, e-commerce, education, finance, gaming, ICT, logistics/supply chain, mobile, productivity & CRM, real estate, SaaS, sports, and travel.
GFC co-invested in Indonesian tech-enabled fitness startup Fit Hub last week.
East Ventures
East Ventures is a seed to early-stage venture capital firm based in Singapore, Indonesia, and Tokyo. Founded in 2010 by the co-founder of Mixi.jp and other prominent investors/entrepreneurs in Asia, it has invested in over 150 companies, ranging from internet startups to commerce, social, game, and mobile services.
It invested in Legit Group and Fit Hub last week.
Trihill Capital
Trihill Capital is an innovation-focused fund investing in seed-to-growth industry disruptors in Southeast Asia and public equities globally. It targets solution-oriented companies and transformative founders across sectors and stages. Its investment strategy combines bottom-up and top-down approaches, combining fundamental research with technical and macro overlays.
Trihill Capital is affiliated with one of the leading agriculture companies in the region and is based in Singapore with a satellite office in Jakarta.
It participated in Fit Hub’s raise last week.
AgFunder
Based in Silicon Valley, AgFunder is a new kind of VC firm built on proprietary technology and a global ecosystem of over 85,000 subscribers. It invests in exceptional and bold founders building the next generation of agrifood technology companies that will transform our food system.
It joined a funding round of TablePointer last week.
ENGIE New Ventures
ENGIE New Ventures was founded in 2014 as the corporate venture capital fund of global energy provider ENGIE. Its €180 (US$197) million fund is dedicated to making minority investments in technology startups that complement existing activities and resources to spur internal innovation within ENGIE.
MDI Ventures
MDI is a corporate venture capital initiative by Telkom Indonesia which is based in Jakarta with operations in Singapore and Silicon Valley. MDI combines a VC model with services in providing companies from Telkom Group with access to operational assistance and help in building startups’ growth engines after making a financial investment.
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The focus verticals are digital ads, payment solutions, and cloud computing, Big Data, media services, digital life, mobile apps, e-commerce, and IoT. It works closely with global accelerators and venture firms to bring proprietary technologies from other mature markets into various businesses of Telkom Indonesia.
It joined the round of TablePointer last week.
Winter Capital
Winter Capital is a global growth equity firm founded in 2015 by Goldman Sachs EM senior alumni. With US$1.4 billion under management across three funds, Winter Capital focuses on growth equity investments in consumer industries going through technology-enabled change. The funds invest globally in fast-growing tech companies in four select verticals: financial, healthcare, education, and consumer services.
It co-invested in a financing round of Legit Group last week.
ORZON Ventures
ORZON Ventures, powered by OR (#1 Oil and Retail company in Thailand) and 500 TukTuks, invests in promising Series A-B startups in Thailand and Southeast Asia under the theme of mobility, lifestyle, smart retail, health & wellness, and tourism. Startups in ORZON portfolio can accelerate their growth via OR ecosystem and at the same time, gain access to 500 Global’s network and expertise. In other words, the fund will invest in startups that meet the needs of future mobility solutions or those that respond to the new changing needs of the modern lifestyle, such as F&B startups, travel, health, wellness, and other digital lifestyle solutions.
It is an investor in Travelio’s latest round.
Leet Capital
Leet Capital is an equity crowdfunding platform that helps bridge high-potential companies to passionate investors. It also runs Leet Academy which focuses on providing startups access to knowledge of starting, running, and scaling a business in the digital age. It leverages both 1337 Ventures and Leet Academy to provide advisory and growth capital solutions to high-growth startups and SMEs via ECF and other relevant capital sources and channels through its MOOC programmes or monthly events.
It invested in Qmed’s round in the first week of April.
SBI Ven Capital
Founded in 2007 and based in Singapore, SBI Ven Capital is a private equity firm that invests in financial services and technology sectors across Asia. It works with financial services and technology companies that are looking to raise equity or equity-linked financing; have market-leading products, processes and/or technology; and backed by a strong team with whom SBI Ven Capital can partner.
As of December 31, 2021, SBI Ven Capital is managing US$549M.
It invested in Fresh Factor’s round in April’s first week.
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