Bringing you the latest updates on funding deals and activities in the Asia Pacific.

Wavemaker Partners launches USD 30 million Growth Opportunities Fund

Wavemaker Partners, one of Southeast Asia’s leading venture capital firms, has announced the first close of its inaugural Wavemaker Growth Opportunities Fund, securing USD 30 million.

Backed by limited partners such as QLA Investment and Cercano Management, the fund aims to foster growth for high-potential startups in sectors like enterprise solutions, deep tech, and sustainability. Wavemaker’s new fund zeroes in on startups seeking to scale, focusing its investments on Series B and later rounds to bridge both funding and operational support gaps that can often stymie regional growth trajectories.

In a bid to nurture 8–12 promising ventures, Wavemaker is planning investments of USD 3–8 million per company, targeting enterprises primed for significant regional impact.

Dossier clinches pre-seed funding for AI-driven compliance tools

Dossier, a regtech startup headquartered in Singapore, has clinched an undisclosed amount in pre-seed funding from nVentures, according to reports from e27.

Dossier is creating an artificial intelligence system focused on anti-money laundering (AML) and customer screening, aiming to streamline compliance workflows and reduce dependency on multiple vendors. Currently, the startup claims two paying clients and plans to concentrate on tier-three financial institutions in emerging markets.

The funds will primarily go toward team expansion and product development, positioning Dossier to further innovate in a highly regulated landscape.

Collektr raises USD 1.3 million in pre-Series A round, eyes APAC expansion

Collektr, a live stream platform dedicated to authenticated collectible sales, has raised USD 1.3 million in a pre-Series A funding round led by AC Ventures Malaysia, according to e27. The round saw support from The Hive Southeast Asia, Creador Foundation, and several angel investors.

Launched in April 2023, Collektr connects enthusiasts and collectors through live-streamed auctions of authenticated items. With the new capital, Collektr plans to extend its reach into Singapore and fortify partnerships across the Asia Pacific region, hoping to engage a growing collector community in new markets.

Noneaway raises over USD 1 million to streamline property transactions in the Philippines

Noneaway, a proptech venture from the Philippines, has secured over USD 1 million in pre-seed funding from investors including Forge Ventures, Wavemaker Partners, Kaya Founders, and Vulpes, as reported by Tech in Asia.

Founded by former Pickaroo CEO Crystal Lee Gonzalez, Noneaway’s platform tackles issues in real estate like duplicate property listings and fraud risks. Through an AI-driven app, Noneaway offers features like broker verification and a dedicated escrow system aimed at shortening transaction times and increasing transparency in property deals.

Gonzalez likens Noneaway to a “Bumble for real estate,” focused on fostering genuine connections between buyers and brokers. A beta launch is slated for December 2024, with a full rollout expected in early 2025.

Vingroup, Intudo, Veracity, and more made recent headlines:

• Vingroup, one of Vietnam’s primary conglomerates, pledged an additional VND 35 trillion (USD 1.4 billion) to support its electric vehicle arm, VinFast, through 2026. Pham Nhat Vuong, the founder, has personally committed an additional VND 50 trillion (USD 2 billion) to support VinFast if the company’s independent capital-raising efforts do not meet their target.
• Intudo Ventures has raised USD 125 million across two funds focused on Indonesia, underscoring a growing belief in the country’s role as a rising economic force in Southeast Asia.
• Veracity Trust Network, a cybersecurity firm specializing in bot detection, has been awarded a SGD 1 million (USD 747,500) grant from Cyber Security Agency (CSA) of Singapore under its Cybersecurity Co-Innovation and Development Fund.

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