Asia Digest: Dolma fund invests $1m in Sastodeal; iLex raises seed round

Photo by Aaron Benson on Unsplash

E-commerce startup Sastodeal has raised an additional $1 million investment from Dolma Impact Fund while Singapore-based financial technology startup iLex has raised an undisclosed sum in its seed funding round.

Nepalese PE Dolma invests $1m in Sastodeal

E-commerce startup Sastodeal has raised an additional $1 million investment from Dolma Impact Fund, Nepal’s first international private equity and impact fund.

Dolma Impact Fund  CEO Tim Gocher confirmed this information to us in an email interaction. He also added that this new investment round brings Dolma’s total commitment to Sastodeal to $2 million.

Founded in 2011, Sastodeal.com is one of Nepal’s biggest and most popular online shopping platforms. The company will use the fresh fund to grow its sales and revenue targets over the next 18 months.

Dolma Fund Management is on the road to raise as much as $75 million for its second private equity fund focused on Nepal. The second vehicle will invest up to $10 million in businesses in the areas of agriculture, healthcare, pharmaceuticals, energy and technology.

Dolma’s funds are backed by European development finance institutions as well as private investors. Dutch development bank FMO is one of its limited partners.

Besides Dolma, other key investors active in the country are International Finance Corp (IFC), a member of the World Bank Group, and One to Watch.

Singapore’s fintech startup iLex raises seed round

Singapore-based financial technology startup iLex has raised an undisclosed sum in a seed funding round with strategic and fintech investors from France, Hong Kong, Singapore and the United States, according to an announcement.

iLex operates an electronic market and trading platform for corporate loans and deal opportunities for participants using its matching engine.

“Currently, banks, which contribute to more than 95% of corporate lending in the Asia Pacific, are not fully maximising their loan distribution to connect with smaller, less active though potentially suitable buyers. The buy-side, which has been driving the growth in appetite for private debt, faces restrictions in sourcing for loan assets due to limited resources and market complexity. iLex’s platform will help to address those pain points,” said Bertrand Billon, CEO and founder of iLex.

 

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.