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In focus
- Melissa Goh on Flash Coffee’s second hurrah and why it’s ditching the yellow
- A startup fund from Granite Asia that’s neither equity nor private credit
- Beam and Neuron Mobility: the latest micromobility firms to become one
Hello readers,
Here at Tech in Asia, we write about layoffs way more frequently than we’d like, and that hit home earlier this week.
M&A deals are another staple in our startup coverage. They are often heralded as a win for all stakeholders involved, but the reality isn’t so simple.
Being part of a company that went through one has given me a front-row seat into the nitty-gritty of the process. Combining two companies – each with its own culture and system – is always a tall order, and it’s far from straightforward. In theory, it could lead to better outcomes, but integration is often slow and something usually has to give.
Pivoting and iteration, however, are all part of staying in the game.
This week, my colleague Miguel Cordon writes about Flash Coffee’s comeback bid – close to two years after it liquidated its Singapore business and sold off its Thai operations.
Image credit: Timmy Loen
While Flash Coffee never left Indonesia, an ambitious plan to roughly double its stores in the archipelago by 2026 signals that it’s back in business. The company has also put a former Fore Coffee exec at the helm and switched out its jazzy bright yellow aesthetic for a cozier, and more roomy in-store experience.
Something’s also brewing in the VC space, specifically at Granite Asia, writes our senior editor Collin Furtado. Joining the ranks of the firm’s equity and private credit vehicles is a new startup fund focused on a new asset class, according to senior managing partner Jixun Foo.
Details are scant at this stage, but at a time when VCs around the world are pivoting from equity-based strategies and expanding beyond traditional investments, Granite Asia likely won’t be the last Southeast Asia VC to do so.
Leaders don’t always get it all right. But admitting mistakes and making pivots takes courage. Here’s to all the founders that keep trying and the teams behind them building the magic.
Melissa Goh, senior editor
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