RHL Ventures’ Hibiscus Fund targets final close of up to $100M, eyes opportunities in food, healthcare & mobility sectors
RHL Ventures, which has been selected by the Malaysian government for its Dana Penjana Nasional (DPN) Program, has chosen three main themes for its Hibiscus Fund which is targeting a final close of up to $100 million, a top executive said.
The Hibiscus Fund is a venture capital fund managed by RHL Ventures and South Korea’s KB Investment Co Ltd., which forms part of the DPN program, an…
Philippines: Southeast Asia’s next big breakout market?
TechNode Global’s series on the Philippines will delve into why now, after years of depending on income from remittances, Filipino entrepreneurs and founders are attracting venture capital (VC) money in droves. In this first part, we briefly explain the key growth drivers and opportunities awaiting VCs in the country, while laying the groundwork for future articles which will feature the…
Malaysia-based PayHalal partners Atome to offer ‘Shariah-compliant’ BNPL options in Malaysia, Indonesia
Malaysia-based Shariah-compliant payment firm PayHalal announced that it has partnered Singapore-based buy now pay later (BNPL) platform Atome, to enable seamless Murabaha buy now pay later (iBNPL) acceptance across PayHalal’s merchant touchpoints first in Malaysia, before rolling out to Indonesia in the coming months.
The COVID-19 pandemic has accelerated the shift for Malaysian shoppers to…
Singapore-based Quincus raises Series B at over $100M valuation
Singapore-headquartered Quincus, an enterprise SaaS platform in solving global supply chain challenges, has announced Thursday that it has closed an undisclosed Series B fundraise.
The Series B investment catapults the company's valuation well over $100 million. The investment round is led by UP.Partners, a US-based electrification and mobility fund, with participation from existing investor…
Startup Studio Indonesia aims to incubate 150 startups by 2024
Indonesia’s tech startup ecosystem is vibrant as ever with the emergence of tech unicorns such as Bukalapak, the merged entity of Tokopedia and Gojek--GoTo--as well as Traveloka. The country's digital economy is worth $44 billion, the largest in the region, according to a report from Google, Singaporean state investor Temasek and global consultancy Bain.
The Indonesian Government has hoped to…
Vietnam loyalty platform Society Pass plans to list on Nasdaq
Vietnam-based data-driven loyalty platform Society Pass (SoPa), which recently closed a Series C funding round, has filed for an initial public offering (IPO) on the Nasdaq Stock Market.
The company is offering 2.9 million shares at a price range of $8 to $10. At the mid-range, this puts the IPO at around $26 million at a $188 million valuation.
It plans to list on the Nasdaq Stock Market…
Victor Chua of Vynn Capital on investment opportunities, finding fundable teams, and unicorn startups [Podcast Q&A]
This article is part of TechNode Global’s partnership with CEO Roundtable Podcast and Asian Investors Podcast hosted by David Kim wherein we publish the revised transcripts from the podcast’s interviews with inspiring entrepreneurs and experienced VCs. This edited Q&A is based on the show’s original transcript. For the full interview, listen to the podcast here.
Victor Chua is a…
Ant-backed Ascend Money hits $1.5B valuation with $150M new funding, becomes Thailand’s first tech unicorn
Thailand-based FinTech firm Ascend Money has hit $1.5 billion valuation following its latest $150 million funding, making it Thailand’s first FinTech unicorn.
The funds will be used to grow the user base of its e-wallet application--TrueMoney Wallet--and to expand digital financial services, including digital lending, digital investment, and cross-border remittances across Southeast Asia.…
Ninja Van bags $578M in Series E, ropes in Alibaba as investor
Singapore-based logistics startup Ninja Van announced on Sunday that it has secured $578 million in a Series E funding round.
This latest round of funding involves participation from existing investors Geopost/DPDgroup, B Capital Group, Monk’s Hill Ventures, and Zamrud, an entity linked to a Southeast Asian sovereign wealth fund.
China-based e-commerce tech giant Alibaba Group, which is…
Indonesia social commerce platform KitaBeli bags Series A extension from Meesho founders, Kopi Kenanga Capital & others
Indonesia-based social commerce platform KitaBeli announced on Friday the raising of an undisclosed amount in a Series A extension, participated by Vidit Aatrey and Sanjeev Barnwal, founders of India-based social commerce platform Meesho, Kopi Kenangan Capital, and Turner Novak’s Banana Capital, a US-based consumer-focused venture capital firm.
The extension comes less than six months after…