Newsletter | January 2023


31 January 2023


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NEWSLETTER

JANUARY 2023

HEADLINES

Gobi Partners 2022: A Year in Review

2022 marked a significant milestone for Gobi as we celebrated our 20th anniversary, welcomed new companies and commemorated successful exits and IPOs of some of our investees. We are proud to present our 2022 key highlights and eagerly anticipate building this further to achieve even greater success within this VC ecosystem this year.
Hong Kong-based FinTech Hyphen Group Raises US$22 Million
Hong Kong-based billionaire Richard Lee-backed fintech firm Hyphen Group raised US$22 million, exceeding its original goal despite the departure of Chief Executive Officer (CEO), Sam Allen.

The Series B round came after Hotelmize experienced over 800% YoY growth and successfully retained some of the biggest B2C and B2B travel brands in the industry.

Komunal Raises US$8.5 Million to Digitize Indonesia’s Rural Banks
The Indonesia-based fintech startup will use the funds to accelerate financial inclusion and strengthen the neo-rural bank ecosystem in Indonesia, especially outside the Greater Jakarta area. It also expects transaction volume to reach more than US$500 million this year.

Hong Kong Luxury Watch Platform Wristcheck Bags US$8 Million Seed Funding Led by Gobi Partners
Founded in 2020, Wristcheck is a buy-and-sell luxury watch platform. The startup works directly with brands for the authentication of the watches both online and offline in its physical store.

TOP STORIES

Malaysia’s Carsome Bolsters Indonesian Operations via Electrum Partnership and Nusantara Expansion

“Our partnership with Electrum will be game-changing. Together, we are exploring options to encourage two-wheeler electric vehicle adoption as demand grows for more economical and sustainable mobility solutions to power the nation’s economic growth,” said Carsome’s Co-Founder and Group CEO, Eric Cheng.
Animoca-Backed Forkast News and CryptoSlam Announce Merger
Hong Kong-based Forkast News and CryptoSlam, a blockchain data analytics firm headquartered in the United States, have merged to form Forkast Labs, a platform for Web3 asset valuation.

INDUSTRY FOCUS

Fatima Gobi Ventures 2022: A Year in Review

Fatima Gobi Ventures, our joint venture company, has consistently supported Pakistan’s most promising startups throughout 2022. With 20 active companies, we have leveled the playing field, providing equitable access to those who were previously unserved or underserved.
Ushering into an Uncertain 2023: Here’s What VCs and Experts Think
Can ASEAN VC firms continue to observe a truly positive outlook in the face of worldwide economic downturn? In an interview with Technode Global, our Managing Partner (Malaysia) Jamaludin Bujang thinks it can.

Cloudeats’ Kimberly Yao on Beyond the Billion® Podcast
Cloudeats Founder Kimberly Yao sat down with Sarah Chen-Spellings from Beyond The Billion® about how each chapter of her company demanded different versions of her as a leader as well as the future of ‘virtual’ or ‘ghost’ kitchens, i.e. delivery-only restaurants that proliferated during the pandemic and is set to be a US$1 trillion industry by 2030.

EVENTS

Happy Birthday, Gobi Partners!
Gobi celebrated our 21st birthday on 18 Jan 2023! As always, our gratitude to all our Limited Partners, collaborators, comapnies and the VC ecosystem at large for enabling our success throughout the years. Here’s to more successful decades to come.
Our Managing Partner (Malaysia) Jamaludin Bujang will be one of the featured guests attending the Entrepreneur Growth Hub (EGH)’s startup networking event in Batu Kawan, Penang. The event aims to introduce 20 of the largest investment firms and accelerators from KL to share their insights, programmes, and networks with Penang’s most promising startup founders.
GET YOUR TICKETS HERE
Wishing You A Wonderful Festive Season and Prosperity in the New Year
May the Year of the Rabbit bring you continued prosperity and success!
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