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Hello reader,
I’ve been hearing a lot lately that VC, as we know it, is coming to an end. VC money is getting harder to come by, and with valuations taking a hit, startups are seeking alternative funding sources beyond the usual VC-led equity financing to fuel their growth and ambition.
Debt financing has emerged as a pretty popular alternative, and this is evident when we look at this week’s top deals. One of them is a debt round worth US$42 million – that’s a pretty big number.
Will alternative forms of financing become even more prevalent in Southeast Asia? Time will tell, but my bet is on yes.
Image credit: Timmy Loen
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.
The biggest deals by market
🇸🇬 Nuevocor is a Singaporean biopharmaceutical company focused on developing adeno-associated virus gene therapy. It has raised US$45 million in series B money from Angelini Ventures, Boehringer Ingelheim Venture Fund, ClavystBio, EDBI, and KorinMi.
🇰🇷 Zigbang is a property search platform in South Korea. It has raised US$42 million in a debt round from VIG Alternative Credit.
🇮🇳 Routematic is a transport-as-a-service provider based in India. It has raised US$40 million in series C financing from Shift4Good and Fullerton.
🇦🇺 Blinq is a digital business card platform based in Australia. It has raised US$25 million in series A money from Blackbird, HubSpot Ventures, Square Peg, and Touring Capital.
M&As
Startups that are raising funds
Behind the Glasswall
Asia’s leaders must align now to navigate what’s next
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