Newsletter | December 2023
Bitsmedia Raises US$20 million in Series A | Gobi-Core Releases Founders’ Report 2023 | JazzCash and Fatima Gobi Ventures Team Up to Boost Startups
Gobi Partners Strengthens Commitment to Sustainability with Investment in ERTH, a Leading E-Waste Recycling Firm | Kiddocare Secures Strategic Investments in Pre-Series A Round, Powering Malaysia’s Caregiving Revolution | Twin Towers Ventures and Gobi Partners Sign MoU to Drive Sustainable Innovation in the Asia Pacific Region
Featured news this month: Hong Kong’s BioMed Raised US$2 million in Oversubscribed Seed Round | Indonesia’s Bukalapak Acquires Majority Stake in Malaysian Shopping Aggregator iPrice | Gobi Recognised as One of the Most Active Investors in Southeast Asia | Three Gobi Companies Featured as 50 Rising Startups in Indonesia | Khazanah Nasional: ‘All Malaysia’ Approach for Startups
Carlo Chen-Delantar to Spearhead Gobi’s Sustainability Goals as New ESG Head | Gobi Partners Bags Three Awards in December! | From Singapore to Silicon Valley, Female Founders Fight for Funds | Identifying Opportunities and Addressing Gaps in Troubled Times
Gobi-Core Philippine Fund Reveals the State of Talent in Tech 2022 Report | Eight Gobi Portfolios Recognized as Tatler Asia Group’s Most Influential 2022 | Our Co-founder, Thomas G. Tsao discusses why Gobi continues to double down on China especially when it comes to the #GreaterBayArea
Here’s a compilation of exciting news from us and our portfolios last month! Indonesian Conglomerate Set to Pour US$259 million Into WeLab-backed Digibank | SuperAtom Raised US$22 Million in Series C Round | DealCart Raises US$4.5 Million to Focus on Price-conscious Pakistani Consumers | Carsome Appoints King Cantona as Brand Ambassador | Deliveree’s Tom Kim on Solving Logistics Industry Challenges Through Big Data and Predictive Analysis
In 2021, the Gobi portfolio raised $2.5 billion, almost doubling our number of unicorns to 9 (2021: 4 new unicorns) and saw 4 exits resulting in US$28 million returned to LPs. 34 startups joined Gobi, including the female-founded CloudEats, PolicyStreet and Udhaar Book.
As part of the global Beyond the Billion consortium of investors pledging $1 billion into women founders from 2018 to 2020, Gobi has met its own $50 million commitment and continues to invest in and ensure diversity in voices and inclusive management teams in the startup ecosystem. Separately, Gobi and UN Women’s highly successful Asia Gender-Smart Investing Forum drew 557 registrants and 34 speakers across 48 countries.
Save your seats to the inaugural Asia Gender-Smart Investing Forum, co-organized by Gobi and UN Women on Nov 2-3. The webinar will discuss investing in women for a more inclusive, sustainable world and feature heavyweights such as Sarah Tong, Peggy Choi, Norma Chu, Vanessa Hendriadi Li, and Lucy Liu. Gobi also welcomes Kimberly Yao to our cohort of female founders, while Recommend — led by Jes Min Lua — raises US$4 million.
September was a banner month for Fatima Gobi Ventures (FGV) and Gobi’s Taqwatech portfolio in Pakistan: investees TAG (now valued at US$100 million) and Truck It In raised new rounds, while FGV added a new investee (edtech Maqsad) and new LP (U.K.’s CDC Group).
The Series D2 round is the largest equity investment in Carsome’s history and brings their total valuation to US$1.3 billion; it includes the participation of one of the largest sovereign wealth funds in the region and a pool of new international investors as well as existing shareholders including Gobi Partners.