Monk’s Hill stays the course amid spiraling valuations

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Hello reader,

While randomly scrolling through Instagram recently, going past all the cat, football, and dance reels, I came across a quote that caught my attention: “Comparison is the thief of joy.”

Generally, I give little notice to the numerous inspirational quotes that clog up my feed, but this one struck a chord. It reinforced my conviction to focus on myself and try to be better on both an individual and professional level, which is easier said than done.

It’s also a bit funny that the Instagram algorithm had me in a fix, sparking deep thoughts on personal growth.

Anyway, it’s likely the folks at Monk’s Hill Ventures abide by a similar mantra. Regular readers of Tech in Asia’s Recession Run series will know that several VC firms plan to ramp up their investments in Southeast Asia as startup valuations fall amid a funding winter and ailing economies.

However, as today’s featured story highlights, Monk’s Hill is undeterred by the spiraling valuations.

Managing partner Lim Kuo-Yi confirmed there is little interest in steering away from the VC firm’s tried-and-tested investment strategy of building a portfolio of about 15 to 20 companies per fund, saying Monk’s Hill doesn’t see “lower valuations to be the trigger to change our plans but instead to stay the course.”

Today we look at:

• Monk’s Hill Ventures’ steady-paced investment approach
• The seed funding round of Gritti, a move-to-earn app from Singapore
• Other newsy highlights such as Sociolla’s US$60 million funding round and Byju’s securing more capital after recent layoffs

— Shravanth

P.S.: If you’re an entrepreneur looking for funding, fill out this form to get your company featured on our list of fundraising startups.

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