A horse of another: Here’s the full list of Southeast Asia’s 20 unicorns
Since having only three unicorns in the region in 2014, the ecosystem is now brimming with more billion-dollar startups in the region; According to a report, the digital economy in SEA is projected to hit US$300B by 2025; This could also mean the region is going to add more companies into the billion-dollar club.
Companies in SEA raise a record US$4.9B via IPOs in H1 2021
Of this, US$4.1B was raised through additional and rights offerings; The no. of IPOs in the region also hit a historic high, led by Indonesia, which saw 23 listings on the country’s stock exchange in H1.
Temasek, DBS form US$500M growth-stage debt platform for Asian tech firms
The S’pore-based platform will be called EvolutionX and will invest in tech-enabled companies from a range of sectors including financial services, consumer, healthcare, education and industrial development; Temasek currently offers venture debt to early-stage tech startups via Innoven Capital.
Vietnam unicorn VNPAY parent raises US$250M+ Series B
Investors are General Atlantic and Dragoneer Investment (col-lead), EDBI, Softbank Vision Fund; VNPAY helps 40+ banks in the country to develop digital offerings; It also operates VNPAY-QR, an inter-operable cashless payment network, with 22M users and 150K merchants.
Singapore’s crypto platform Vauld raises US$25M led by Peter Thiel’s Valar Ventures
Other backers are Pantera Capital, New Form Capital, Coinbase Ventures, and Robot Ventures; Vauld offers an asset-backed lending and borrowing platform, which currently supports over 30 cryptocurrencies and can be used in 16+ countries
Filipino blockchain gaming startup YGG raises US$12.5M via token sale
YGG is a community of individuals who can play to earn NFTs that can be used in virtual worlds and blockchain-based games; The firm will continue growing its scholarship programme, which aims to encourage more newbies to play NFT games.
US alt protein maker Nature’s Fynd to open first Asia facility in S’pore by 2023
This will be the Softbank-based company’s first manufacturing facility in Asia; EDBI is also an investor in the firm; Nature’s Fynd is also backed by Bill Gates, Jeff Bezos, and former US Vice President Al Gore.
Malaysia regulator takes enforcement action against Binance
The country’s Securities Commission said it had issued a public reprimand against Binance, its CEO Zhao Changpeng and three other entities registered in the UK, Lithuania and Singapore, for continuing to operate in Malaysia despite being added to the regulator’s investor alert list a year ago.
Vietname startups find silver lining during COVID-19 pandemic
According to Lê Group, in H1 2021, the number of firms that ceased doing business in the country was 59,800; However, over the same period, they also recorded the establishment of 78,300 new enterprises, an increase of 11.9% over the same period last year.
ASEAN startups surpass pre-COVID total funding deal values
Despite the pandemic largely sealing off borders in the 10-country bloc, which keeps investors and young companies from meeting face to face easily, deal values hit US$11.7B in H1 2021 alone; According to a report by DealStreetAsia, the six-month figure topped the US$8.5B seen in the whole of last year and the US$8.8B recorded in 2019.
Railsbank and Visa Partner to Drive Fintech Enablement in Singapore
Through the BIN sponsor programme, all of Railsbank’s clients gain access to the same global payment technology, expertise and revenue opportunities as they would if they were a direct card issuer with Visa; This initiative allows Railsbank to become a go-to-partner for fintechs as they build and launch their card programmes in the country.
Hanoi, Vietnam digitlisation plan aims for complete 5G coverage by 2030
It aims to serve the city’s digital transformation programme; It defines postal infrastructure as an important factor of the digital economy, which contributes to promoting the development of digital government and digital society.
How Reward Nation increased its investor engagement by 10x with one small change
“We created an account on RewardNation and invited our group of shareholders to it. Instantly engage even the busiest investor. Anyone can send a recognition message instantly with just a quick text. Low effort, instant results,” says co-founder Zelia Leong
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Photo by Arto Marttinen on Unsplash
The post Ecosystem Roundup: Firms in SEA raise record US$4.9B via IPOs in H1; Temasek, DBS form US$500M debt platform appeared first on e27.