Asia surpasses North America in corporate VC-backed deals
Asia has surpassed North America in corporate venture capital (CVC)-backed deals in 2019, according to CB Insights’s 2019 Global CVC Report.
North America has been leading since 2014 in global CVC investments. However, last year Asia’s deal share spiked to 40 per from 22 per cent in 2014.
Most of the deal volume was driven by Japan and India, whereas China saw a drop of 19 per cent in CVC deals and 41 per cent drop in funding. This could be attributed to the trade war between the US and China.
Asia, however, has also not fared well in fundraising with a drop from US$19.9 billion a year to US$15.9 billion in 2019.
Vertech Capital partners with LAB.PH to accelerate the growth of their combined portfolio
Singaporean advisory firm Vertech Capital has announced a partnership with LAB.PH to support large-impact technology integrations in the ASEAN region with their combines portfolios.
LAB.PH is an economic development management firm in the Philippines.”This partnership furthers both organisations’ commitment to innovation that empowers sustainable development across ASEAN.
We are excited to combine LAB.PH’s economic and social analysis with our expertise in investment and smart cities to identify data-driven growth opportunities and truly quantify the impact in the region” said Sheryl Foo, Director for APAC & EMEA at Vertech Capital.With this alliance, the duo aims to grow their portfolios in the Philippines and produce opportunities for local companies.
Bytedance launches new music streaming service Resso in Indonesia
Bytedance, the company behind TikTok, has officially launched its latest music streaming app Resso in Indonesia, says a DailySocial report.
The service is currently available on a freemium model.
The streaming service also offers other features such as lyrics sharing, social sharing, commenting on songs, and music-accompanied GIFs and video clips.
Resso has already won partnerships with major music labels like Sony Music Entertainment, Warner Music Group, and Indian music giant T-Series.
Samsung Ventures, Microsoft’s M12 fund, Comcast Ventures, and SmilegateInvestment make up the list of top 10 most active CVCs in 2019.
Right Hand, the Singaporean cybersecurity firm, raised US$1M from SGInnovate, others
Right Hand, a Singapore-based cybersecurity startup has raised USD$1M in seed funding led by VC fund Atlas Ventures. Other participants in the round include SGInnovate and Entrepreneur First.
The new proceeds will be used towards product development, research and towards data scientist teams.
Since launching Right-Hand’s solutions have been used within government and financial sectors across Southeast Asia and Australia.
Also Read: Singapore-based Group-IB opens inaugural CyberCrimeCon to the public for the first time
“Although humans present one of the biggest loopholes in cybersecurity, much of the focus from both investors and corporates alike have been on various technical solutions like threat detection systems, firewalls, and such. The human aspect is often overlooked,” said Maxim Shkvaruk, Atlas Ventures’s investment director.
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