Fatfish targets two IPOs in 12 months

Australia Stock Exchange-listed and Singapore based venture accelerator Fatfish Internet Group aims to take two of its associates’ public within the next 12 months.

The move follows a similar model to Fatfish itself, which had listed in the Australian Stock Exchange earlier this year.

When asked on which exchange the two startups would be listed, co-founder and chief executive officer Lau Kin-Wai said the group was yet to take a call on these initial public offers, but added that it could either be Southeast Asia or Australia.

“We think they are ready for the market but there is still work in progress. There is plenty to be done before we can decide where to list them,” he said over a phone interview.

He said the two associates, an e-commerce business and a software service provider, are based in Southeast Asia. A check on the group’s portfolio showed it was thus far invested in companies based in Malaysian, Singapore and Indonesia.

Fatfish has not brought any of its associates to the public market before, although Lau mentioned that that was the end-goal for all its investments.

In addition to Fatfish, several Asian startups have chosen Australian Securities Exchange (ASX) for their floats and these include Singapore-based mobile social network Mig.me,  Malaysian software development firm 8common and Hong Kong-based mobile games developer Animoca among others. They have joined Aussie startups such as foreign derivatives exchange platform OzForex, digital network Vocus Communication and Rewardle, all of which have opted for the ASX for their initial public offerings. Rapid-trading platform Pepperstone Financial and taxi-booking app Ingogo are also slated to list on the ASX this year.

Lau said that Fatfish continued to keep its eyes peeled for opportunities in Australia, Singapore and Malaysia. The group has set sight on a Singapore-based company next but Lau was careful not to divulge more information.

Fatfish invested into Malaysian mobile app developer AppXplore last month, marking its first foray into the market.

“We are looking to invest more in Malaysia,” he added, reiterating the group’s focus on Malaysia encouraged by the growth spurt of internet businesses here.

The venture accelerator is run by a team of Malaysians, an advantage when navigating in this market.

“We have three sectors among internet businesses that we focus on – e-commerce, mobile technology and cloud-based software services,” Lau said.

Within its portfolio at the moment, Fatfish has interests in Singapore-based online female fashion retailer Dressabelle Pte Ltd, mobile games and gaming software developer Kensington Ventures Pte Ltd and mobile dancing game studio VDancer Pte Ltd. In Indonesia, it has invested in AutoDirect Corporation which operates RajaPremi.com, Indonesia’s first and only online general insurance supermarket.

Under its digital incubator division, Fatfish Medialab Pte Ltd, the group’s investee-companies include Novatap which runs web designer tool DockPHP, travel tips and social media tool operator Peeplepass, smartphone based breathalyser developer Infini Square and private online dating app Love Out Loud 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.

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.