An ecosystem is only as good as its investors

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Hello readers,

In the latest episode of the Tech in Asia Originals series Startup Frontiers: The Philippines, we asked players on the ground why the archipelago’s startup landscape seems to lag behind some other Southeast Asian countries.

Some suggested that a number of Filipino founders lack perspective and only develop solutions to local problems, instead of trying to address issues that plague the region or the world. Others said the fault lies in the fact that the Philippine education system’s rigid approach to teaching entrepreneurship drives fresh graduates to launch businesses that lack innovation.

But what got me thinking is the fact that the investor landscape in the country is still immature – It’s not uncommon for high-net-worth individuals to invest in a Philippine startup and end up owning a majority stake in it, effectively pushing founders out of their own business.

It really illustrates how important good investors are in ushering the growth of a startup ecosystem. Thankfully, some local venture capitalists are now placing more value in the founders they invest in. With time – and possibly a whole lot of luck – the Philippines could eventually have as attractive a startup ecosystem as its neighboring markets.

You can find all other important investment deals that happened in the last few days in our weekly funding news wrap-up.

Let’s dive into the biggest deals and M&As that recently took place.

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BIGGEST DEALS BY COUNTRY

🇨🇳 Caocao: The electric vehicle-sharing company based in China bagged US$585 million from ABC International Holdings, Dongwu Innovation Capital, Suzhou Chengtou Capital Share Holding Company, Suzhou High-Speed Rail New City State Control Group, and Xiangcheng Financial Holdings in a series B funding round.

🇰🇷 Deepbrain AI: The South Korea-based AI firm raised US$45 million from IMM Investment Corp, KDB Bank, KDB Capital, L&S Venture Capital, Noh & Partners, Nvestor, and Posco Capital in a series B funding round.

🇻🇳 KiotViet: The Vietnam-based software startup scored US$45 million in series B money from Jungle Ventures and KKR.

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Lists of most active investors in the region

List of top-funded startups in Asia

List of largest exits in Asia

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