By Shiwen Yap
The Alibaba Group has built economies of ecosystems.
It has backed Fika Ventures’ $40 million fund and California-based BlueRun’s second fund.
This is the first time Vertex, an early backer of Southeast Asia’s biggest ride-hailing startup Grab, is raising money from a Thai investor.
Suitors for the oil business have already signed non-disclosure agreements.
Most recently, Ong was chief administrative officer for Northern Trust in Asia-Pacific
The round saw participation from Global Brain, LUN Partners Capital and True Global Ventures.
Tritech Group has secured a strategic investment while ST Engineering injects capital into Leeboy India.
This forms part of Grab’s ongoing financing round which is targeting to raise a total of $2.5 billion.
Executives representing leading organisations have already registered for Asia’s largest sector-agnostic PE-VC conference.
This brings aggregate investment in the AI enterprise to more than $82 million.