Letter to readers: Mapping the Asian tech scene’s various tribes

Dear readers,

Last week, we put the spotlight on the investors behind Asia’s top startups. We started with an in-depth interview with Paul Santos from Wavemaker Partners, one of the top-seeded investors in Southeast Asia. What sets it apart from the rest is its focus on deep tech, a bold move given that most investors in the region zero in on internet startups.

Then we did an in-depth analysis of the most connected VCs in Asia, courtesy of our talented data scientist Ivan Tan. One of the most powerful forces in any industry is its network of relationships, which dictates where the money flows. It’s an intuitive idea: the more you can “click” with a particular founder, the more you’re likely to invest in them.

The same can be said of the growing Lazada mafia. The common thread that ties them together will last well beyond their stint at the ecommerce company.

The tribal nature of the industry poses many questions: Is it a good thing that investment decisions, especially at the early stages, are made not just on values and market opportunity but also on factors like race, gender, and education background? Are some of these elements really superficial or a shorthand for meaningful characteristics that determine startup success? Do people and businesses just fall through the cracks because they are unfairly stereotyped?

And what do we make of the insular nature of tribes? Getting rid of tribes is impossible, as that defies human nature. Should we instead encourage tribes to be more inclusive or support the proliferation of a large variety of tribes?

We’re only at the beginning of our endeavor to map the factions that exist in the tech scene. If you’d like to see more work like this, do support us by subscribing.

By the way, our next subscriber meetup is happening on September 26! This time, we have Richard Koh, founder of Alibaba-backed fintech startup M-DAQ. Read his inspiring story if you haven’t done so. I’ll see you there.

Finally, check out the rest of our premium pieces from the past week:

Startup ups and downs

• Exclusive: Bukalapak sheds hundreds of smart retail, internet-of-things, and marketing roles
• After a tough 2018, Indonesian online lender UangTeman looks to be bouncing back
• Commentaries: We watch unicorns grow 📈🦄

Rising stars

• Bytedance: The empire expands
• Singaporean HR tech startup hits $100m valuation in 4 years
• Rocket Internet startup takes on real estate market with Singapore launch
• Indonesian fintech startup banks funding from Insignia Ventures Partners
• As Vietnam’s penchant for ecommerce grows, keep an eye on these logistics startups

Evergreen

• Complete list of tech and startup events in Singapore
• Meet the 50 top-funded startups and tech companies in India
• Rising startups on Tech In Asia: marketing tech gets interesting

Rewind

• The dark side of Indonesia’s online lending boom
• Fast-growing Vietnamese startup offers one subscription for every lifestyle need
• Warung Pintar raised over $35m in a year to transform Asia’s mom-and-pop stores

Cheers,

Terence
Chief Editor