Tuas Capital, The Hive to launch venture builder fund for SEA

Malaysian private investment group Tuas Capital Partners has signed a partnership with US-based venture studio The Hive to form a new fund, called The Hive Southeast Asia.

The venture builder fund will be domiciled in Malaysia and investing in the co-creation space dedicated to provide startup launchpads and utilising The Hive’s venture studio model.

It will be one of the funds under Dana Penjana Nasional, a Fund of Fund to be launched by the Malaysian government. Half of the the capital for the fund will be provided by Dana Penjana Nasional and the other half by private and foreign LPs brought together by The Hive and Tuas.

Dana PENJANA Nasional was formed as part of the Malaysian Short-Term Economic Recovery Plan (Penjana).

This fund will function to mobilise a programme which will match, on a 1-to-1 basis, institutional private capital investments with selected venture capitals and early-stage tech fund managers for various stages of the startup funding lifecycle.

The Hive Southeast Asia is one of the international groups that will be participating in the programme.

Malaysia’s personalised travel app Tourplus ventured into food delivery

Tourplus, a personalised travel app based in Malaysia, has launched GetFoodPlus.com, a delivery service that specialises in frozen foods.

The deliveries will be carried out by tour guides, who were displaced by the COVID-19-induced lockdown and the government’s movements control order.

Currently, GetFoodPlus offers more then 100 frozen food items with Halal certificates.

The services are available in Kuala Lumpur and Klang Valley.

Malaysia’s e-commerce enabler Everpeaks targets to raise US$376K via crowdfunding platform pitchIN

Malaysia-based e-commerce solutions provider Everpeaks has announced that it plans to raise further funds, targeting US$376,000 via equity crowdfunding platform pitchIN.

Currently, the campaign is at the pre-live stage on pitchIN.

The firm plans to use the fund to strengthen its operations, especially its marketing effort.

Also Read: ScaleUp Malaysia kickstarts 3-month programme with 20 companies in first cohort

Everpeaks combines e-commerce expertise with a duty-free global distribution hub that integrates to the e-commerce platforms.

According to Digital News Asia, Everpeaks has US$234,000 in funding from an angel investor ahead of the targeted June 15, 2020 date of being live on the pitchIN platform.

Singapore’s NTUC Income launches bite-sized insurance service SNACK

NTUC Income has launched SNACK, an insurance proposition that seeks to revolutionise the way consumers engage with, purchase and obtain insurance protection in Singapore.

Typically, an insured is required to pay insurance premiums at a fixed quantum either monthly or annually, and sometimes over a fixed duration of time, in order to be covered for a specified sum assured.

With SNACK, the insured gradually builds or stacks his insurance coverage by paying micro-premiums at either US$0.30, US$0.50, or US$0.70 and accumulate micro-policies that offer a specified sum assured — based on the insured’s profile — that corresponds with the premiums paid.

The SNACK insured can also decide when and how frequent premiums are paid by linking them to his preferred lifestyle triggers, such as ordering a meal, exercising or simply by taking public transport.

Each micro-policy, which is issued when a micro-premium is paid, covers the SNACK insured for 360 days, which means that the insured stays protected by insurance coverage that has been accumulated over time even when he stops using his lifestyle triggers or if the weekly cap is reached.

Additionally, SNACK offers the customers the flexibility to build insurance coverage at their own pace by setting a weekly cap of up to a maximum of US$50 on payment triggers, if they wish to ease cash flow.

SNACK is also looking to enhance its insurance offerings by offering options that help insureds save and invest for their future.

—

Photo by Kon Karampelas on Unsplash

The post Roundup: Tuas Capital joins hands with The Hive to launch a venture builder fund for SEA startups appeared first on e27.