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“Ah, all the things I could do / If I had a little money,” is a lyric from Money, Money, Money, the hit song from pop group ABBA. It’s a relatable sentiment – I’d certainly be able to enjoy life a little more if I had more cash in the bank.
Startups are often in a similar position. They need cash in order to do all the great things they want to do: Build new products, hire great talent, and pursue growth to reach new heights. In the current economic environment, it’s more crucial than ever for companies to find VCs that can support them – financially and otherwise.
A good place to start looking is at investors that have just amassed cash. After all, this means they’ve got millions of dollars that need to be deployed somewhere – if startups play their cards right, they may be that somewhere. In today’s premium story, we literally follow the money and track the VCs that have raised some funds.
Today we look at:
- The VC firms with cash to deploy
- The low repayment ratio of GoPayLater
- Other newsy highlights such as Shopee’s profitable Q4 2022 and some startups that have raised funds
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Money, money, money
Image credit: Timmy Loen
We may be in the midst of a funding winter, but VCs in Southeast Asia including B Capital, Capital Square Partners, and Basil Technology Partners are sitting on a fair amount of dry powder. Here’s a look at where the money trail is now:
- In 2022: Southeast Asia-focused investors raised nearly US$30 billion across 149 funds last year, while those zeroing in on India amassed US$18.3 billion across 126 funds.
- Right now: VC funds targeting both markets have seen a sharp rise in fund commitments in 2022, according to Tech in Asia data. Just about a month and half into 2023, VCs have already raised over one third of what was raised a year earlier, largely due to the US$2.1 billion secured by B Capital Group for its third fund.
- All sorts: Most of the VCs who have raised funds favor fintech, but many are sector-agnostic. Investors are also drawn to healthtech, enterprise tech, consumer tech, and edtech.
Read more: VC funds tracker: B Capital commits $500m for healthcare
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