Venture Capital
The investment was made through Khazanah-backed Gobi Dana Impak Ventures fund.
Losses widen at PH unicorn Maya Innovations despite 35% revenue surge in 2022
Artificial general intelligence will come within 10 years, says Masayoshi Son
Australian lender Westpac cancels sale of Pacific banking business
People Digest: China Renaissance appoints acting CEO; DCS names Singapore MP as MD
Crypto firm Ripple secures Singapore payments licence
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Bain Capital scores first deal in Vietnam, to invest at least $200m in Masan Group
Singapore’s Singtel to sell cyber security business in $205m deal
DSG Consumer Partners hits final close of fourth fund at $114m
Indonesia’s GoTo raises $150m from IFC, Franke & Company via convertible bonds
Why Vertex’s SPAC merger with 17LIVE matters to SE Asia tech ecosystem
Deals
The week’s developments included a ban on e-commerce sales on social media platforms by Indonesia.
Analysis
In H1 2023, Malaysian startups raised $81m—the lowest among SE Asian nations.
People
The firm has named Nicholas Nugroho as director of Navis Asian Credit team in Indonesia.
The country aims to regain semiconductor edge as companies seek supply-chain stability.
Sime Darby will buy Permodalan Nasional’s 61.2% stake in UMW Holdings for $761m.
IPOs & Markets
Line Man Wongnai became a unicorn last year following a Series B round anchored by GIC and Line Corp.
The new facility will create 300 high-value manufacturing support roles.
GGV Capital announced it is hiving off its Asia business as Sino-US relations sag.
The Hibiscus Fund-backed firm plans to launch new products and double down on marketing.
