<article><p>Singapore-based M Venture Partners has closed MVP Fund I at $55 million. Meanwhile, Indonesian edtech Cakap claims to have booked a positive trend in its revenue and profits.</p></article>

<p>Singapore-based M Venture Partners has closed MVP Fund I at $55 million. Meanwhile, Indonesian edtech Cakap claims to have booked a positive trend in its revenue and profits.</p>
<h3><strong>M Venture Partners raises additional capital</strong></h3>
<p>M Venture Partners (MVP), an early-stage venture capital fund based in Singapore, has closed a follow-on vehicle to continue to back emerging winners in their portfolio, bringing the total corpus allocated to MVP Fund I companies to $55 million, according to an announcement.</p>
<p>MVP Fund I has been actively investing since its launch at the end of 2019 and has now completed 30 investments across Southeast Asia and India. Among its portfolio companies are Naluri, a multi-disciplinary behavioural health coaching startup; Liquide, an on-demand investment advisory platform for stock investors based in India; and NewCampus, a modern leadership school that delivers management training for hyper-growth companies in Southeast Asia.</p>
<p>MVP Fund I primarily invests in technology-enabled B2B or B2B2C business models at the early stage — pre-seed, seed and pre-Series A.</p>
<p>“The MVP team continues to work closely with our portfolio even as they reach later growth stages so the enlarged corpus allows us to continue supporting our most promising founders with both additional capital and value-add support as they scale towards the next inflection point,&#8221; said Mayank Parekh, founder and CEO of M Venture Partners.</p>
<h3><strong>Cakap claims revenue growth, profits</strong></h3>
<p>Indonesian upskilling platform Cakap has booked a 170% year-on-year increase in revenue in the second quarter of 2022 and booked profit for two consecutive years on the back of a significant rise in the number of students, according to a statement.</p>
<p>The company did not release its detailed financials.</p>
<p>Cakap specialises in online vocational courses and foreign language training, tapping into labour market demands for career enhancement programmes in sectors such as hospitality, business, and entrepreneurship.</p>
<p>Certified vocational education, according to the company, has become the main source of income. Blended learning, which combines online and offline classes, has also managed to attract students in the post-pandemic situation.</p>
<p>&#8220;A significant rise was also recorded from the number of students, which reached 2.7 million cumulative and grew 220% from the same period last year, as specifically more than 500,000 students joined the platform in Q2,&#8221; Tomy Yunus, Cakap co-founder and CEO, said in a statement.</p>


M Venture Capital closed its MVP Fund I vehicle at $55 million, while Indonesian edtech firm Cakap reported revenue growth.

SEA Digest: M Venture raises capital; Cakap posts growth in revenue, profits

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SEA Digest: M Venture raises capital; Cakap posts growth in revenue, profits

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