SG Digest: 1982 Ventures partners Korean investors; Lend East launches debt funding solution

VC word cloud. Credit:Barrie Entrepreneur Connect

1982 Ventures has forged a partnership with South Korean investors Infobank, C&Venture Partners, and BTC Investment. In a separate development, Lend East has launched Levl, a revenue-based debt funding solution for startups.

1982 Ventures ties up with three S Korean investors

1982 Ventures, a Singapore-based, early-stage venture capital firm, has signed an investment partnership agreement with three South Korean investors — Infobank, C&Venture Partners and BTC Investment.

The purpose of the memorandum of understanding (MoU) is to pursue strategic investments in Korea and Southeast Asia, according to a press statement.

The Korean investors will receive local support as they expand in Southeast Asia, while 1982 Ventures will get a strong partner as they deepen ties in the Korean startup ecosystem.

Southeast Asian fintech startups represent over $10 billion in unrealised value, with 100 projected fintech exits expected in the coming years. Meanwhile, the South Korean venture capital industry had a banner year in 2020 with nearly $4 billion invested in startups.

1982 Ventures is a Singapore licensed fund management company focused on early-stage fintech in Southeast Asia. “An increasing number of Korean investors and startups are starting to see the market opportunity in Southeast Asia and are looking for partners such as 1982 Ventures to support their market entry,” said Herston Powers, managing partner of 1982 Ventures.

Singapore’s Lend East launches new debt funding solution

Lend East, a Singapore-based digital lending platform has launched Levl, a debt funding solution for startups, according to an announcement.

The solution will provide debt capital to startups for a flat fee, while the repayment will be taken as a percentage of monthly revenue. Thus, during the low-revenue months, the startups will not be required to make large and fixed repayments.

“Debt financing for startups is still in a nascent stage in Southeast Asia and India, accounting for less than 2% of the venture capital size in the region,” said Lend East CEO Karan Bhatia.

The startups which book positive revenue during 12 months of business, may apply to get the funding for around $250,00 to $2 million. So far, Lend East has evaluated startups in software-as-a-service, micromobility, direct-to-consumer, and payments. It also works with banks, credit funds, and family offices to raise further debt capital for deployment into its identified opportunities.

Lend East was founded in 2018, to solve the problem of the startups’ scarcity of debt capital. The company developed Spa{r}3k, an AI-driven data research and analytics platform, to simplify investment research, risk and return benchmarking, and risk management.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.