Yimie Yong

The combined company will have an enterprise value of approximately $1.35 billion and an equity value of approximately $1.78 billion at closing.

In addition to the maiden project in Batam, Data Center First will also work with Gaw Capital Partners to originate, evaluate and develop data center projects in Southeast Asia and beyond.

The funds raised will further develop Partipost’s tech platform and accelerate business expansion into Vietnam, as well as strengthen current operations in Singapore, Indonesia, Taiwan, Malaysia, and the Philippines.

The Launchpad Luna accelerator will identify and foster NFT innovation in the fields of culture, art, entertainment, media, gaming, streaming, collectibles, insurance, finance, and data management; DeFi and additional verticals will be added in the future.

Desty will utilize the new funding primarily for team expansion and user acquisition. This move also marks 5Y Capital's first investment in Indonesia.

The funding round came as Malaysia is in a so-called "full lockdown" with traveling restrictions to contain the ongoing COVID-19 pandemic. Restaurants and eateries are allowed to operate but no dine-ins are allowed and they are required to follow standard operating procedures set by the government.

Besides increasing the company’s manpower, the new funding will be used to bring Kamereo to Hanoi next year, to build a new warehouse management system, among others.

Babydash is now doubling down on key targeted activities to aggressively expand its customer and product base. The company aims to drive up revenue per transaction while expanding its footprint in ASEAN targeting to double the size of the company in the next 12 to 18 months.

The development comes at a time when more global PE firms are looking for investment opportunities in the tech sector in Southeast Asia.

A total budget of 1.32 million euros is available to support the best proposals.