In brief: Cambodian VC firm closes $55m debut fund

• Ooctane, a Cambodian venture capital firm, has closed its debut fund at US$55 million. The firm plans to invest in local tech startups.
• The company was first introduced in June 2018, where Rithy Sear, founding chairman of local logistics company Worldbridge Group, contributed US$5 million to the fund.
• Ooctane is reportedly in advanced discussions with a handful of companies, performing due diligence to close its first deal.

Source: DealStreetAsia