How startups can survive the COVID-19 economic Crisis

To: All angel investors and their portfolio CEOs Being trained as a scientist, and having lived through several investment cycles, I’ve been asked to share my perspective on the financial impact of the COVID-19 pandemic on startups. I firmly believe that the human and societal impact of COVID-19 will be extreme, even though we are at the early stage of…

SE Asia Digest: FlixStock, Arches and JupViec raise funding

In multiple startup rounds in the region, Singapore-based FlixStock has raised $2.5 million in a round led by Wavemaker Partners while knowledge platform Arches has also bagged an investment to expand across Asia. In Vietnam, local venture builder STI Holdings has completed a strategic investment in household service startup JupViec. Wavemaker Partners leads $2.5m funding round in Singapore-based FlixStock Early-stage…

Singapore’s Circles.Life lets go of employees despite recent fundraise

Singapore’s Circles.Life lets go employees despite recent Warburg Pincus-backed funding Mobile virtual network operator Circles.Life reportedly has let go of several employees and eliminated roles associated with non-priority projects less than a month after snagging investment from global private equity major Warburg Pincus, as reported by DealStreetAsia. The company said the layoffs were a part of the company’s year-end review.…

Singapore Launches Framework to Attract Investment Funds

The new corporate structure can be used for a wide range of investment funds and provides fund managers greater operational flexibility and cost savings. Singapore is courting more funds to base themselves in the city-state with the launch of a new framework that caters to the needs of global investment funds and investors, and a grant scheme to encourage industry…

AMTD, Xiaomi, Funding Societies, SP Group join Singapore digibank Race

Hong Kong-based investment banking firm AMTD Group, Xiaomi consumer finance arm Xiaomi Finance, Singapore government-owned SP Group, and crowdfunding startup Funding Societies officially announced they have submitted an application for a digital wholesale banking license in Singapore. The consortium, led by AMTD, focuses its bid on small and medium-sized enterprises in all stages of growth in Southeast Asia and Greater…

Here’s how the Singapore startup scene will look like in 2020

2019 was a significant year for the Singapore startup scene for several reasons. On a positive note, Carousell’s merger with classified firm 701Search lifted its value to S$1.2 billion, showing that born-and-bred Singaporeans can grow unicorns – companies with a valuation of over S$1 billion - and can compete in the big league. On the downside, local grocery seller HonestBee…

Singapore’s EV Growth makes final close of debut fund at $250m

Singapore-headquartered venture capital firm EV Growth announced that it has made the final close of its reopened first fund at $250 million, exceeding the initial target of $150 million. DealStreetAsia reported in May that the firm, a joint venture between Sinar Mas, East Ventures, and Yahoo! Japan, has made a final close of the fund at $200 million. The firm,…

Licious raises $30 million in Series E, led by Singapore-based Vertex Growth Fund

Fresh meat and seafood brand Licious has raised $30 million in Series E funding round. The round was led by Singapore-basedVertex Growth Fund along with existing investors 3one4 Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, and Sistema Asia Fund. Including this round, Licious has raised a total of $95 million to date. Bengaluru-based Licious was founded by…

Singapore’s Neuron Mobility raises $18.5M to bring its electric scooters to more international markets

Singapore-based startup, has closed an $18.5 million financing round as it looks to scale its e-scooter startup in international markets — a month after the nation introduced difficult regulatory changes. The new financing round, dubbed Series A, was funded by GSR Ventures, a venture capital firm that was the first institutional investor in Chinese ride-hailing giant DiDi Chuxing, and Square…

Singapore launches $14m initiative to draw film funds to Southeast Asia

Singapore’s Infocomm Media Development Authority (IMDA) has launched a $14.7m (S$20m) initiative to partner with film and media investment funds that set up in the city state to invest in film and TV content across Southeast Asia. Describing the S$20m as a “catalyst to attract other investors”, IMDA has launched an open call for partners that can “jointly support the…

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