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We have backed 10 portfolio companies across 6 markets since inception in Jun 2022, and we have added Gushcloud International and Turnkey Lender in Q1 2023.
Highlights
We co-hosted an event "Introduction to Venture Debt and Alternative Financing for Startups" with Ansible Ventures in Ho Chi Minh City with the participation of our esteemed guest speakers Ben Cheah from Innoven Capital SEA, Eddy Ng from Genesis Alternative Ventures, and Olivia Nguyen from EasyGop.
News around the Region:
DBS and Heritas Capital announce successful first close of the Asia Impact First Fund with over US$20 million raised. It was led by anchor investor DBS, and like-minded impact-focused family offices, foundations, corporates and high-net-worth individuals
Aspire, a Singapore-based B2B fintech startup, has successfully raised US$100 million for its series C round, which was led by Lightspeed and Sequoia Capital SEA, and it saw participation from PayPal Ventures, Tencent, LGT Capital Partners, and existing backers
Northstar Group, a Singapore-based VC firm, has raised US$90 million in the first close of its new investment initiative, Northstar Ventures I (NSV I), primarily targets early-stage startups in Indonesia and ,to a lesser extent, other countries in Southeast Asia
ThoughtFull, a mental health company based in Singapore, has raised US$4 million in a pre-series A round, it was led by Sheares Healthcare Group, a subsidiary of Temasek, following with founding members of companies like Grab and Zalora
Malaysia based Involve Asia has secured over US$10 million in an investment round, led by Bintang Capital Partners Berhad, with 500 Global, Monumental Productions, and Orbit Capital Malaysia participating
ShopUp, a Bangladesh-based B2B e-commerce platform, has secured US$30 million in debt financing from UK-based debt provider Lendable and The City Bank, a commercial bank in Bangladesh
Interesting Reads:
The approach of tech companies to the food delivery sector have changed in the past few years due to uncertain macroeconomic conditions and mounting pressure to turn a profit
Startups in the Philippines have raised over US$1 billion in funding for the second year in a row despite a global slowdown