Crypto startup co-founded by OpenAI’s Sam Altman raises US$115 million

Janette BarraPress Releases

A CRYPTO startup co-founded by OpenAI chief executive officer Sam Altman has raised new funding to further its mission of providing a digital ID for everyone on the planet. Tools for Humanity, the company behind the cryptocurrency project Worldcoin, said on Thursday (May 25) that it had raised US$115 million from investors. The startup aims to create separate IDs for …

SG launches program to nurture AI talent in finance

Janette BarraPress Releases

The Monetary Authority of Singapore (MAS) has launched a talent development program for the financial sector, involving artificial intelligence and data analytics (AIDA). The initiative is aimed at increasing “the supply of AIDA talent to build deep AI capabilities” in finance, the authority said in a statement on Monday. The government has set up a consortium where financial and training …

Former investor darling GLP is now sliding into distress in Asia

Janette BarraPress Releases

MAJOR Asian logistics operator GLP was for years sought after by investors, both when it first went public over a decade ago and then when the company was for sale. But sentiment has darkened more recently, with its investment-grade dollar bonds the worst performers in Asia this year and the firm at risk of being downgraded to junk territory. Of …

Singapore tech startups Krosslinker and Luminis win awards at US pitching competition

Janette BarraPress Releases

SINGAPORE tech startups Krosslinker and Luminis Water Technologies won awards at the 2023 SelectUSA Investment Summit startup pitching competition in Maryland last week. A total of 79 international startups took part in the competition. Deep-tech advanced materials startup Krosslinker clinched the top prize in the Cleantech category, while microbiome analytics firm Luminis Water Technologies clinched the equivalent in the Regional …

Singapore’s GIC invests in Vietnamese pediatric chain Nhi Dong 315

Janette BarraPress Releases

Singapore’s sovereign wealth fund GIC has invested in Vietnamese healthcare services provider Nhi Dong 315, according to regulatory filings seen by DealStreetAsia . The Vietnamese firm operates at least 60 pediatric and maternity clinics in Ho Chi Minh City. Ardolis Investment, a unit of the Singapore wealth fund, invested $30 million in the Singapore-registered holding company og Nhi Dong 315, …

Vietnam startup valuations could fall 50%, leading investor says

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TOKYO — Startup valuations in Vietnam could fall 50% from their recent peaks as company founders adjust to a decline in venture capital investments, a partner in the country’s oldest private equity firm says. Chad Ovel of Mekong Capital said during a recent visit to Tokyo that his firm sees a “massive opportunity” to profit from the change and is …

Singapore VC closes $90m fund for fintech, insurtech, digital health

Janette BarraPress Releases

Singapore-based Integra Partners has closed its second venture fund at US$90 million, bringing the firm’s total committed capital to over US$140 million. Integra Partners Fund II is backed by institutional investors such as DEG, the US International Development Finance Corporation, Norfund, and Tikehau Capital. The fund focuses on early-stage investments in the fintech, insurtech, and digital health sectors. It aims …

Dyson unveils plans for SG battery plant

Janette BarraPress Releases

Global consumer tech firm Dyson has announced that it is building a battery plant in Singapore and research and development campuses in the Philippines and the UK. The Singapore facility will be completed this year and be fully operational by 2025. The city-state – where the firm has its global headquarters – will play a part in producing battery cells …

Outdated regulations continue to impede Philippines’ digital readiness — experts

Janette BarraPress Releases

The information and telecommunications technology (ICT) sector needs more reforms and updated regulations to boost inclusive digital connectivity, according to experts. “In a dynamic sector such as ICT, there is a need to upgrade the regulatory framework for telecommunications, which underpins the digital economy,” Ramonette B. Serafica, Philippine Institute for Development Studies (PIDS) senior research fellow, said during a webinar …

South-east Asia deal-making slows in 2022, but energy transition sparks investor interest: Bain report

Janette BarraPress Releases

DEAL flow in South-east Asia slowed in 2022, with a sharp decline in the second half of 2022, according to data from a Bain & Company report. However, the regional energy transition is a bright spot attracting more investor interest. There were 176 private equity investment deals in 2022, a drop from 207 in 2021. Deal value also fell from …