SE Asia had the potential to create $400 billion of new tech sector equity value in next decade, Nash said.
CSGKC will invest $80 million while Tessa will contribute $40 million to the JV.
Chinese online gaming giant Shanda is also returning as an LP for its second vehicle.
Verrency is on track to raise its Series B round in Singapore and the US in 2H 2019.
The company is open to partnerships in Southeast Asia, said Jane Jie Sun, CEO at Ctrip.
Wavemaker SEA Fund III will focus on seed-stage investments primarily in B2B and deep tech.
Teo joins Grab after more than 10 years at GIC, where he last served as managing director and chief economist.
Lazada co-founders Aimone Ripa di Meana and Alessandro Piscini have launched CREA, a B2B digital commerce startup serving SE Asia.
This comes just four months after Circles.Life raised a Series C round from Sequoia India.
Grab has launched Grab TukTuk Electric in Chiang Mai in an effort to roll out electric vehicles in Thailand.
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