Category: PE, VC & Alternatives

Singapore’s 1982 Ventures Raises US$12.5M in the First Close of Seed Fund

1982 Ventures, a leading early-stage venture capital firm in Southeast Asia, has announced the initial close of its first seed stage venture fund with US$12.5 million in committed capital. The fund is targeting to raise a total corpus of US$15 million.

Scott Krivokopich and Herston Elton Powers, Managing Partners of 1982 Ventures, Southeast Asia’s leading seed fund which is focused on fintech. (1982 Ventures)

Established in early 2020, 1982 Ventures is a Southeast Asia focused venture capital fund that invests in seed stage fintech startups in Southeast Asia. The fund was recently identified as the most active Southeast Asia based fintech investor of 2021 (UOB).

The firm’s portfolio has made a return of over 3x, with early and first round investments in Indonesian open banking player Brick, Vietnamese retail investment platform Infina (YC S21), home financing proptech Homebase (YC W21), Singaporean automated financial data platform Bluesheets and Southeast Asia’s first earned wage access platform Wagely.

Their first fund has been backed by US fintech unicorn Carta, Asia’s leading multinational Genting Group’s Venture arm, US fund of funds First Close Partners and Rally Cap and major Indonesian family office Trihill. The backers of 1982 Ventures include Southeast Asian, European and American family offices, fintech founders, senior executives of tech and financial services companies and GPs of other VC funds including Sheel Mohnot (founding GP of 500 Fintech and Better Tomorrow Ventures) and unnamed GPs at major Southeast Asian VC funds.

Herston Elton Powers, Co-founder and Managing Partner of 1982 Ventures stated, “Seed stage fintech in Southeast Asia is a clear once in a generation opportunity. Our focus and credibility with founders make us first money invested and the partner of choice for fintech entrepreneurs in the region.” He continued, “Our investors have access to the highest quality deal flow and as a result of their commitment to 1982 Ventures, have directly participated in the region’s most competitive fintech rounds.”

JunYuan Tan, Co-Founder and CEO, of Homebase (a 1982 Ventures portfolio company) stated “1982 Ventures was one of our earliest institutional investors. They have been super helpful even up till today. In fact, 1982 Ventures has by far made the most number of quality introductions to us, especially for lenders, and it’s not even close. 1982 Ventures’ investment is one of the best money we’ve ever taken.”

Southeast Asia represents a once in a generation opportunity with half a billion consumers waiting for financial services. The region is experiencing rapid urbanization and has some of the world’s highest technology adoption and mobile and internet penetration rates. Southeast Asian fintech startups represent more than US$10 billion in unrealized value, with 100 projected fintech exits in the coming years (Dealroom).

Ian Sulaiman, Vice President, of Trihill, stated “1982 Ventures is filling a critical gap in the VC market with their focus on seed stage fintech companies. The GPs understand how to invest in Indonesia and across the region. Scott and Herston have impressed us with their company selection and we have confidence in the judgement.”

Going forward, the firm is looking to invest in a total of 30 start-ups primarily in the fintech sector across Southeast Asia. The firm has a core focus on Indonesia, Vietnam, Singapore and Philippines with the ability invest across the region and opportunistically in Pakistan and Bangladesh.

Scott Krivokopich, Co-Founder and Managing Partner of 1982 Ventures stated, “We are on track to realize our goal of becoming the best performing fund in the region and we are encouraged by the support from the global investment community in backing 1982 Ventures.” He continued, “We have seen the incredible rise of fintech in China, India, Latin America, Africa and the West — now is the time for Southeast Asian fintech to lead the way.”

Both Herston and Scott are former executives of tryb Group, a Southeast Asian fintech investor, and have each been in Asia for well over a decade. Scott Krivokopich was previously the Head of Investments at tryb Group and prior to that established Moore Stephens Corporate Finance business in China, advised on M&A for Southeast Asian fintech transactions, worked with Micro-Finance pioneer Grameen Bank. Scott started his career in New York working for PwC Structured Credit and Derivatives Advisory.

Herston Elton Powers, an INSEAD graduate in Singapore, previously led investments, operations and investor relations at tryb Group. He is credited as the first institutional investor in Indonesia’s leading fintech and Neo bank Alami. Prior to becoming a VC investor, Herston was a banker at the Bank of New York Mellon (BNY Mellon) in New York, Hong Kong and Singapore where he was Head of Southeast Asia and worked on numerous Chinese, Indian and Southeast Asian listings on NYSE and Nasdaq. He also supported the founding of a global fintech company based in Europe.

“1982 Ventures has proven its ability to source and invest in the best fintech start-ups in the region.” stated Scott Krivokopich. He continued, “Our mission is clear to back the next generation of unicorns which will come from the fintech sector in Southeast Asia.”

1982 Ventures expects to announce the final close of its first seed fund soon and is only open for investment from strategic investors to participate in a “greenshoe option” as the fund is already oversubscribed ahead of its final close.

About 1982 Ventures
1982 Ventures is the leading seed fund investing in fintech start-ups in Southeast Asia. 1982 Ventures focuses on being the first port of call for fintech founders and the first money in.
1982 Ventures investments include Bluesheets, Brick, Fundiin, Go Zayann, Homebase, Hugo, Infina, Lista, Nextpay, Pina and Wagely.
1982 Ventures is investing in and supporting the best founders to positively impact the future of financial services in Southeast Asia.
For more information visit: https://1982.vc.

For Media Enquiries:
Herston@1982.vc

Quotes From Investors And Portfolio Companies Of 1982 Ventures (In Alphabetical Order):

Carta:
Davis Thacker, Director and Head of Carta Ventures, of Carta stated “Southeast Asia is a new and critical market for Carta. 1982 Ventures is a strategic investment for Carta and the perfect partner as we look to expand our fintech partnerships in the region.

First Close Partners:
Carolina Huaranca Mendoza, General Partner of First Close Partners, stated “Our firm is always on the lookout for best in class fund managers from underrepresented backgrounds across the globe. Herston and Scott have built an impressive firm with a strong vertical focus in fintech in Southeast Asia which really stood out to us. We are proud to be investors and tremendously excited to follow their progress as they continue to build their venture franchise. Our hope is that more underrepresented fund managers follow 1982’s lead and are inspired to invest in emerging markets.”

Gavin Tan of Brick:
Gavin Tan, Co-Founder and CEO, of Brick stated “1982 Ventures led our first VC round and Brick has been incredibly fortunate to have an investor that lives and breathes fintech and is always ready to support us with investor, customer and talent introductions.”

Genting Ventures (Genting Group Corporate Venture Arm):
Josie Lai, Head of Genting Ventures, stated “1982 Ventures is a pure-play fintech investor that brings key insights and co-investment opportunities that are aligned with our group’s strategy.”

James Vuong of Infina (YC S21):
James Vuong, Founder and CEO, of Infina stated “On our first call it was clear that Herston and Scott understood our business model and what we are building at Infina. For a solo founder it is invaluable to have a team you can call for anything, has real experience and expertise, and likes to move fast and get things done.” He continued, “Even after our successive fund raising rounds they continued to support Infina by identifying and helping us recruit our Chief of Staff!”

JunYuan Tan of Homebase (YC W21):
JunYuan Tan, Co-Founder and CEO, of Homebase stated “1982 Ventures was one of our earliest institutional investors. They have been super helpful even up till today. In fact, 1982 Ventures has by far made the most number of quality introductions to us, especially for lenders, and it’s not even close. 1982 Ventures’ investment is one of the best money we’ve ever taken.”

Sheel Mohnot of Better Tomorrow Ventures:
Sheel Mohnot, Co-Founder and General Partner, of Better Tomorrow Ventures, stated “We are a global fintech fund and have seen how fintech transforms all markets. 1982 Ventures was the clear choice for a fund to provide us an on-the-ground partner that understands fintech in Southeast Asia.”

Trihill Capital:
Ian Sulaiman, Vice President, of Trihill, stated “1982 Ventures is filling a critical gap in the VC market with their focus on seed stage fintech companies. The GPs understand how to invest in Indonesia and across the region. Scott and Herston have impressed us with their company selection and we have confidence in their judgement.”

Legend Capital’s Portfolio Company SF Intra-city Successfully Listed on HKEx

On December 14, Legend Capital portfolio company SF Intra-city (09699.HK) successfully listed on the Hong Kong Stock Exchange (HKEx). SF Intra-city issued a total of 131 million shares at an issue price of HK$16.42 per share. The net proceeds from the global offering are approximately HK$2031.3 million.

SF Intra-city, the largest all-scenario third-party intracity delivery platform in China, has focused on the field of on-demand delivery services since 2016 and realized independent operations in 2019. It covers various distribution needs in the new consumption industry, including customized and standardized on-demand delivery services to merchants, and errands services to consumers, such as Deliver for Me, Fetch for Me, Purchase for Me and Solve for Me services. Leveraging on the open ecosystem and the intelligent information system integrating smart logistics and data, as well as the efficient transportation networks that covers the entire city, SF Intra-city is keen to meet diversified needs by providing users with on-demand logistics solutions featuring commercial distribution and daily pickup-delivery services.

Legend Capital invested in SF Intra-city in 2020 and has proactively provided value-added services in the improvement of SF Intra-city’s operation management and external resources matching.

Legend Capital stated that, “SF Intra-city is an indispensable infrastructure service provider in China’s on-demand delivery field. Led by Haijin Sun, the CEO of SF Intra-city, the team has achieved excellent growth in the past five years. SF Intra-city’s core competence lies in highly efficient business matching and coordination satisfying ‘multi-scenario demand’ as it enjoys a core business model as ‘technology-driven resource sharing platform’. Given that SF Express’s nationwide delivery network is high capital and technique-supported and the company has taken decades of efforts to establish the image of ‘high-quality service’ among merchants and individuals, SF Intra-city, as a subsidiary has the innate advantage with well-developed foundation. We strongly believe that SF Intra-city’s going public will be conducive to corporate governance, talent development and capital usage in the future, and provide a broader development space for SF Intra-city.”

Society Pass (SoPa) Files 1st Form 10-Q; Building Sales Momentum After Recent Launch of Leflair Lifestyle E-Commerce Platform and IPO Capital Raise

Society Pass Incorporated (Nasdaq: SOPA) (SoPa or the Company), a leading, Southeast Asian data-driven loyalty platform, today announced the filing of its first quarterly Form 10-Q with the Securities and Exchange Commission since completing its initial public offering on November 9, 2021. The filing is for the three month period ended September 30, 2021, during which Society Pass launched Leflair, its lifestyle e-commerce platform that markets and sells products in three verticals including Fashion & Accessories, Beauty & Personal Care, and Home & Lifestyle.

Dennis Nguyen, CEO of Society Pass, commented, “As you can see from the revenues from our Leflair business unit in just the final three weeks of September, the recent launch of Leflair into the Vietnam marketplace in early September has gone extremely well and sales momentum is building every day. Supported by the completion of our IPO that raised gross proceeds of $28.125 million in early November, we believe that Society Pass is well positioned to execute its strategic plans. These include increasing the marketing spend for our platforms, rolling out our Society Points loyalty program, investing in additional infrastructure such as data centers, call centers, and warehouses, and funding acquisitions of e-commerce companies in Southeast Asia (SEA) and South Asia.”

For Society Pass’ complete financial results for the period ended September 30, 2021, see the Company’s quarterly Form 10-Q filed with the Securities and Exchange Commission on December 9, 2021.

About Society Pass
SoPa’s customer loyalty and analytics platform has onboarded hundreds of thousands of registered consumers. SoPa provides merchants with SoPa.asia – an online commerce platform for users, alongside with #HOTTAB Biz – a convenient order management app for business partners on SoPa.asia, and #HOTTAB POS – a specialized POS technology solution, a comprehensive system for payment, loyal customer management, user’s profile analytics, and convenient financial support packages for small and medium-sized enterprises. All tools offered above will allow businesses to attract and retain customers through personalized interaction based on analytics with a high profit margin. SoPa also operates www.leflair.com, Vietnam’s leading lifestyle e-commerce platform. For more information, please check out: http://thesocietypass.com/

Forward Looking Statements
The information contained herein may contain “forward-looking statements.” Forward-looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of the Company concerning its business strategy, future operating results and liquidity and capital resources outlook. Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company’s actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

SoPa:
Raynauld Liang, CFO
ray@thesocietypass.com

Investor Relations Asia:
Daniel Tan
PRecious Communications
daniel@preciouscomms.com
+65 9651 5292

AppsFlyer teams up with Intel to introduce The AppsFlyer Privacy Cloud

  • The AppsFlyer Privacy Cloud is the Next Phase in the Company’s Evolution, Enabling a Better, Safer Digital Experience Through Ecosystem Collaboration

AppsFlyer announced it is collaborating with Intel to build the AppsFlyer Privacy Cloud. The AppsFlyer Privacy Cloud allows multiple entities to safely bring their data together based on their own business logic, guidelines and privacy requirements while leveraging a privacy-preserving tech stack including Aggregated Advanced Privacy (AAP), Aggregated Conversion Modeling (ACM), Data Clean Rooms, privacy preserving cryptographic solutions, Predictive analytics, and others.

AppsFlyer is collaborating with Intel to leverage the hardware-enhanced crypto acceleration in Intel’s 3rd Generation Intel Xeon Scalable platform to significantly speed up computation for the Privacy Cloud’s high performance advanced homomorphic encryption (HE) applications.

AppsFlyer’s Privacy Cloud is a trusted open platform for innovation that enhances end-users experience while preserving their privacy when using any connected device, on any platform, app store, OS or browser. Within the Privacy Cloud, platforms, app stores, ad-networks, and app developers will be able to define their own Privacy Cloud Applications (PCA) based on their business logic, privacy guidelines and tech stack.

This is especially relevant in Southeast Asia, an increasingly digitalized region and one where marketers are increasing their focus. The region has added 40 million new internet users in 2021, and the internet economy in the region expected to hit USD 363 billion in 2025, according to the recent e-Conomy SEA report. AppsFlyer’s own data also showed that the Asia Pacific region is one that will command the lion’s share of app install spend, with over half of global budgets in 2022.

Homomorphic encryption (HE) is a powerful new technique for enabling computation and collaboration on private and sensitive data through end-to-end encryption. It is an emerging form of encryption allowing private data computation without the need to decrypt the data. HE enables computing on always-encrypted data, resulting in enhanced privacy preserving capabilities. HE offers developers and brands a way to collaborate and gain insights across organizations, without compromising their end user privacy. Intel’s platform improves performance to support end-to-end data encryption.

This is a long-term ecosystem collaboration AppsFlyer and Intel will be investing in, and once it becomes widely available, AppsFlyer will be able to migrate parts of the Privacy Cloud Data Clean Rooms to a zero-trust cryptography solution, while preserving backward compatibility interfaces.

“The AppsFlyer Privacy Cloud is a natural next step of our current offering and our long-term vision,” said Oren Kaniel, CEO and Co-Founder, AppsFlyer. “AppsFlyer’s unique positioning means that we have a responsibility to carry out during these major ecosystem shifts. Cryptographic solutions such as HE could be a huge step forward for privacy led measurement, revolutionizing how brands gain insights. We’re thrilled to be working with Intel on this technology to make it a reality for our customers, and the entire ecosystem.”

“Asia Pacific has one of the most robust digital marketplaces in the world, with marketers and brands always looking at innovative ways to reach their audiences in the fastest growing ecommerce markets in the world. As the industry and consumers in the region develop their privacy concerns, we’re proud to announce this collaboration to lead the industry and help marketers thrive in this region,” said Ronen Mense, President, APAC, AppsFlyer.

“Homomorphic encryption is a powerful new tool, which will enable AppsFlyer’s partners and customers to gain valuable insights while maintaining a very high standard of user privacy,” said Nir Peled, general manager, Private AI and Analytics, Intel. “Our collaboration with AppsFlyer is a step toward the future of privacy preserving computing.”

For more on the AppsFlyer Privacy Cloud, visit: http://www.appsflyer.com/products/privacy-cloud/

Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries.

About AppsFlyer
AppsFlyer helps brands make good choices for their business and their customers through innovative, privacy-preserving measurement, analytics, fraud protection, and engagement technologies. Built on the idea that brands can increase customer privacy while providing exceptional experiences, AppsFlyer empowers thousands of creators and 9,000+ technology partners to create better, more meaningful customer relationships. To learn more, visit www.appsflyer.com.

Media Contacts
Debbie Beins
PRecious Communications on behalf of AppsFlyer
appsflyer@preciouscomms.com

Press Contact For AppsFlyer in APAC:
Nico Marco
nico.marco@appsflyer.com

Singapore P2P Lender BRDGE: Flexible financing key to SME survival during pandemic-driven business uncertainty; launches F&B loans package and SME digitalisation platform

  • BRDGE funded more than S$ 11m in loans to 46 Singapore SMEs since April 2020; across more industries as compared to a similar period pre-pandemic
  • Average loan size today is S$352,000 compared to S$836,000 pre-pandemic, a decrease of 58% alluding to focus on cashflow for rising costs around rent and labour instead of growth
  • In response to uncertainty around dining-in, BRDGE launches new F&B loans packaged with interest rates from less than as 1% per month for between three to six months, with a lowered credit assessment criteria matched to changing dining in rules in the past three to six months
  • Part of BRDGE’s focus on Singapore SME Survival during COVID-19, together with efforts around digitalisation through its e-commerce mobile app B Mart

BRDGE Technology (BRDGE), an MAS licensed Peer-to-Peer lending platform launched in 2014, today announced the launch of a food and beverage (F&B) financing package specially catered to support Singapore’s Food and Beverage (F&B) Small Medium Enterprises (SMEs) in the current pandemic-driven uncertainty around dining-in. The loans package, with affordable interest rates from less than 1% per month and a short tenure of three-to-six-months, is specially designed to help establishments survive and potentially thrive during this period when cashflow is of importance for salaries and rentals.

One unique aspect of the F&B BRDGE loan is the credit assessment process, which takes the challenging business landscape into account with a lowered and targeted criteria on credit assessment: BRDGE will assess only the latest three-to-six months of the SME’s recent cashflow, bank statements and bank balance, matched against the changing dining-in rules, to identify F&B businesses which are able to survive and thrive.

BRDGE offers funding support for SMEs that are non-bankable or unable to secure a loan from traditional financial institutions. Most of the time it is due to a less than two-year track record or small annual revenues, or have maxed their credit facilities or who require a Bridging Loan. BRDGE then carries out an assessment and matches SMEs with potential investors.

Mr Kevin Wong, CEO, BRDGE Technology, said, “The government has been extremely supportive with the various grants and packages for businesses and their employees in Singapore since the start of the pandemic, and the community has also continued their support to Singapore SMEs. However, with the recently announced extension of the stabilisation phase, Singapore businesses, specifically F&B establishments which depend very much on dining-in for their revenues, continue to be pressured by thinner margins, tight cashflow, and the rising cost of rent and labour. With group sizes for dining-in having been adjusted more than 10 times since April 2020, F&B businesses are faced with continued uncertainty and many are on the brink of survival. This loan package is designed to help them survive and potentially thrive in the short term, with a more relevant assessment process grounded in the very different business reality today.”

Cashflow a priority for SMEs during COVID-19
Since the start of the pandemic in April 2020 till today, BRDGE has funded more than 46 SMEs with more than S$ 11m in loans. As compared to a similar period pre-pandemic (April 2019 to April 2020), there has been a distinct reduction of 58% to the average loan size per borrower from S$352,000 vs S$836,000, alluding to a shift in borrowing for growth pre-pandemic, to survival during the pandemic with cash used to maintain operational costs.

More SMEs has also requested for funding since April 2020, at 46 against 17 pre-pandemic, with companies from industries such as Arts, Entertainment and Recreation, Health and Medical, Marine and Shipping, and Beauty and Wellness, requesting for loans.

Kevin added, “As the pandemic continues, more and more businesses are facing problems maintaining cashflow. We’re also seeing a fundamental shift in the reasons for getting loans. Where previously companies were discussing funding to help them grow or expand, today we are speaking to business owners who are concerned about surviving to the next month. The government and consumers are surely doing their part to help businesses survive, but every little bit helps and this relook at how we assess loans is one part of our commitment to the Singapore business community.”

As part of its efforts to tide SMEs through this challenging period, BRDGE also recently started developing B Mart, a new e-commerce mobile app that is designed to help SMEs in Singapore digitalise and find new customers online. On the platform now are more than 7 businesses with over 500 SKUs representing B2B industries such as Creative and Marketing and B2C businesses such as Food & Beverages, Beauty & Health, Fashion, etc. BRDGE plans to increase this to 2,000 SKUs by the end of the year, with all 237 BRDGE’s SME borrowers since 2014 being able to tap on this platform. All applicants of today’s F&B BRDGE loans can have access to the platform and will be able to tap on the BRDGE online delivery app at a fixed and competitive 5% commission rate to help lower operational costs.

F&B businesses can apply for the BRDGE F&B loan via the BRDGE website: https://register.brdge.tech/fandb-smes, while investors who are seeking to support local businesses can find out more here https://register.brdge.tech/fandb-investor or register themselves on the BRDGE website.

SME owners who are interested in listing their products on the B Mart app to grow their customer base and business can get in touch with BRDGE directly at admin@bmart.sg.

About BRDGE Technology
BRDGE Technology is an MAS licensed P2P lending platform with a Capital Market Service license (CMS 100642). Founded in 2014, it is among the pioneer batch of homegrown P2P lending platforms and is the highest-rated crowdfunding platform on Seedly. Till date, BRDGE has crowdfunded a total of S$72,022,115 and has a community size of over 17,000 investors and SMEs. https://www.brdge.tech/

FOR MEDIA ENQUIRIES
PRecious Communications for BRDGE
Martin Lim, BRDGE@preciouscomms.com

FACTSHEET
Address: 57 Mohamed Sultan Rd #03-05 Sultan-Link, Singapore 238997
Tel: 6916 1799
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Website: https://www.brdge.tech/
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Legend Capital Leads Sailner 3D’s Pre-A Funding

Recently, Zhuhai Sailner 3D Technology Co., Ltd. (Sailner 3D), a leading industrial-grade color 3D printing company with independent core technology in China, announced its completion of a pre-A round financing of over RMB100 million led by Legend Capital. The funds will be used for deepening existing business and expanding new business.

Junzhong Wu, General Manager of Sailner 3D, said that, the authorities concerned have successively issued policies to support and standardize the development of the additive manufacturing industry over the past few years, which created a positive atmosphere for the industry’s development. While Sailner 3D enjoys its rapid growth, it will firmly seize the opportunity to attract outstanding talents to empower its technical and service team. In the meantime, Sailner 3D will continue to carry out innovation in technology, product and service, so as to realize the innovative application of additive manufacturing technology.

Qihui Fan, the Managing Director of Legend Capital, expressed that, as one of the new technologies of intelligent manufacturing, additive manufacturing technology has great potential and will play an important role in the industry in the future. Armed with independent R&D core technologies, Sailner 3D owns competitive advantages in multiple application fields such as medical sector. In addition, Sailner 3D will further expand its application in smart healthcare, intelligent industrial manufacturing and high-end customization. Legend Capital will help Sailner 3D to develop its advantages and promote the application and industrialization of additive manufacturing.

Sailner 3D is a specialized enterprise focusing on the enhancement of additive manufacturing technology and industrialization. It also makes in-depth development of R&D, sales and service of industrial-grade additive manufacturing technology. By fixing the core pain points of traditional imaging technology in medical diagnosis of intractable diseases with its self-developed White Jet Process (WJP) technology, Sailner 3D has successfully opened the full-color multi-material 3D printing technology’s new chapter in medical applications.

Furthermore, Sailner 3D features its core technology application in industrial design, art design and professional education, becoming one of the companies capable of providing full-color, multi-material printing solution, and growing into a pioneer in the niche market.

After the financing, Sailner 3D will keep focusing its lens on the industrialization of additive manufacturing technology and deepening the application in medical sector, industrial sector, education and customization. Meanwhile, it will pay closer attention to the actual needs of the target application market to launch brand-new solution – Multi-jet Reaction (MJR), an efficient additive manufacturing technology. Moreover, WJP and MJR, its two core technologies, will be integrated with other technical resources to create more possibilities in additive manufacturing.

TheCapitalNet joins the prestigious Fintech100 by Fintech Abu Dhabi 2021

TheCapitalNet, Inc., a leader in SaaS and financial technologies, has been recognized as a global innovator by the Fintech100 and Fintech Abu Dhabi 2021, and joins this year’s Fintech100 Forum with its Private Markets suite of solutions: for Investments (www.TheInvestorNet.com), for Innovations (www.TheIncubatorPro.com), and for Startups (www.TheBizPlanner.com).

This year’s Fintech Abu Dhabi Festival will be held from 22 – 24 November 2021. One of the world’s most influential meetings, focused on the burgeoning sector of financial technologies, this recognition reinforces the shared belief many global stakeholders have for TheCapitalNet products i.e., putting the best technologies to work, thus enabling them in value nurturing and wealth creation.

“We are thrilled to be included in this prestigious listing,” said Dr. Rakesh Bhatia, Co-Founder and CEO of TheCapitalNet. “Every accolade brings its own set of responsibilities to businesses like us, and we are committed to making ours even more worthy. This recognition further inspires us to work harder towards our vision of making ‘Private Markets’ and ‘Innovation’ easy, transparent, and connected,” added Rakesh.

TheInvestorNet is a solution from TheCapitalNet that helps fund managers and investors to manage all major aspects of the private investment business including processes, business intelligence, and transactions. PE, VC, CVCs, Family Offices, Angel Networks and M&A teams can meet TheCapitalNet executive team at the Fintech100 Forum (23 – 24 November) in-person, or at contact@thecapitalnet.com.

Corporate website: www.TheCapitalNet.com
Email: contact@thecapitalnet.com

Aohua Endoscopy, the Leading Endoscope Company Invested by Legend Capital, Successfully Listed on China’s STAR Market

On November 15th, Aohua Endoscope (688212.SH), which invested by Legend Capital, was successfully listed on the Science and Technology Innovation Board (STAR Market) in China. The total number of public offering of Aohua Endoscopy is 33.34 million shares with an offering price set at RMB22.5 per share.

Founded in 1994, Aohua Endoscopy is one of the earliest high-tech enterprises in China that mainly engaged in the R&D, production and sales of endoscope and endoscopic consumables. Aohua Endoscopy’s vision is “Becoming the world’s leading provider of overall endoscopy solutions”. In the course of over 20 years of research and innovation, Aohua Endoscopy has developed a full range of endoscopy products used in various clinical sections, including gastroenterology department, pneumology department, otorhinolaryngologic department, gynecology department and ED.

Legend Capital exclusively invested in Aohua Endoscopy’s Series B financing in 2014 and co-led its Series C financing in 2016, becoming its largest institutional investor. After the investment, Legend Capital provided all-round support and assistance in its follow-up financing, executive recruitment, and industrial resource docking.

Jafar Wang, the Co-Chief Investment Officer of Legend Capital, said that, Legend Capital adheres to three investment principles: early, long-term and innovative investment. In the field of medical devices, we closely keep pace with the international technological breakthroughs and dig out home companies with fast-follow and even tight-follow technology platforms and products. It’s our top priority to focus on cutting-edge R&D worldwide, actively discover entrepreneurs with strong technical strength in related fields, and support them to carry out the above-mentioned fast-follow and even new technological revolution.

Joe Zhou, the Managing Director of Legend Capital, said that, minimally invasive/non-invasive technique is the new trend, while soft endoscopes are the core and technical commanding heights with a global market size reaching USD4 billion. The soft endoscopes technique in Aohua Endoscopy enjoys significant barriers and sustainable market competitiveness. As recent years see rapid growth in overseas sales, Aohua Endoscopy has enriched its product line and expanded its business to consumables. It is believed that after listing, Aohua Endoscopy will further increase R&D investment and boost its global presence, becoming a world-class endoscope company.

Medical devices have always been Legend Capital’s vital investment field. Apart from Aohua Endoscopy, Legend Capital’s four portfolio companies in the field have gone public successfully this year, including CareRay Digital Medical (688607.SH), a leading company in flat panel detector industry, New Horizon Health (06606.HK), the first public listed cancer screening company in China, Chemclin Diagnostics Corporation (688468.SH), the clinical immunology diagnostic product company, and Singular Genomics (NASDAQ: OMIC), an innovative sequencing technology research and development company.

Legend Capital Leads TuringQ’s Pre-A Funding

On November 10th, TuringQ, China’s first photonic quantum computing company, announced its completion of a pre-A round of financing of several hundred million yuan, led by Legend Capital. The funds will be mainly used for R&D and commercialization of quantum algorithms.

Recent years see global capital’s favor to photonic quantum computing, while 2021 has been regarded as the first year of photonic quantum by the industry. Qihui Fan the Managing Director of Legend Capital, said that Legend Capital has been making systematic planning on core technology. Quantum computing will have a profound impact on many industries and even bring disruptive changes in all walks of life. Many startups and large companies have entered into the market, which helps boost the process of quantum computing from the laboratory to the real market. Legend Capital will help TuringQ further expand its leading advantages and promote the practical application and industrialization of photonic quantum computing.

Established in February 2021, TuringQ is committed to the research of quantum information. Through the R&D of lithium niobate on insulator (LNOI) photonic chips and femtosecond laser direct writing technology, the photon chips that enable large-scale photonic circuits integration can be prepared and an optical quantum system with a whole new level of scale and complexity can be built. At present, TuringQ has achieved leading advantages in photonic quantum chips, scientific research-grade photonic quantum computers, photonic quantum measurement and control systems, photonic quantum EDA software, and photonic quantum cloud platforms.

The founder of TuringQ, Professor Xianmin Jin, who graduated from the University of Science and Technology of China, has four-year experience in the photonic quantum chip, quantum computing research and development in the University of Oxford. During the period, he was awarded the Marie Sklodowska-Curie Actions by the European Union and Wolfson College Fellow. In addition, TuringQ has nearly 150 scientists and engineers from Oxford University, Imperial College, University of California, Berkeley, Shanghai Jiao Tong University, Fudan University, etc., with over ten years of experience in the field of photonic quantum information and photonic chips.

After the financing, TuringQ could gather more outstanding scientists and engineers to accelerate the pace of product iteration and application. At the same time, TuringQ can build an open and sustainable quantum computing application industry ecology, empowering various fields, including scientific research and industrial production.

Olympus Launches Venture Capital Fund to Strengthen Medtech Leadership

  • Initial fund targets medical devices, digital solutions, and diagnostics

Olympus Corporation (Tokyo: 7733), a global leader in medical technology, has announced the establishment of Olympus Innovation Ventures to invest in pioneering startups with innovative technologies that improve clinical outcomes, reduce healthcare costs and enhance the quality of life for patients.

Olympus Innovation Ventures, a fully-owned subsidiary of Olympus Corporation of the Americas, is a venture capital fund focused on startups poised to improve patient outcomes, radically advance the detection and treatment of disease, and transform the surgery suite. The new fund expands upon Olympus’ strategy to strengthen endoscopy and pioneer next-generation tools and procedures for minimally invasive surgery.

Olympus’ venture fund is stage-agnostic, prioritizing early- and growth-stage companies globally with solutions in therapeutic areas including gastroenterology, respiratory, and urology. Olympus has allocated $50 million for initial commitments and follow-on investments in portfolio companies. In addition to capital, Olympus will help its portfolio companies succeed by contributing its clinical and technical expertise, access to healthcare professionals and hospitals, and ability to launch and scale innovative solutions in the global market.

Olympus has been a leader in optical and medical innovation for over 100 years, introducing a mass-produced microscope to Japan in 1919 and the world’s first gastrocamera for practical use in 1950. Olympus’ tools have aided the minimally invasive surgery revolution and have evolved to detect and treat disease. Yasuo Takeuchi, CEO of Olympus Corporation, says “Our investment underscores our commitment to make people’s lives safer, healthier, and more fulfilling. Our goal is for this fund to continue our history of innovation and support our long-term growth and transformation.”

Touchdown Ventures, a firm specializing in corporate venture capital, will help manage the Olympus Innovation Ventures fund. Touchdown will work closely with senior executives of Olympus in all aspects of operating the fund.

“We are excited about what Olympus can bring to entrepreneurs through the company’s technical strengths, industry relationships, vast distribution, and deep subject matter expertise,” noted Scott Lenet, co-founder and President of Touchdown Ventures. “The entire Olympus Innovation Ventures team is working to be the partner of choice for innovators and create a competitive advantage for their startups.”

Nacho Abia, Chief Operating Officer of Olympus Corporation, said “This effort is another way Olympus is demonstrating its commitment to excellence and creating tangible value for providers and patients. We believe we will play a meaningful role in the advancement of minimally invasive care and new ways to detect, monitor and treat conditions and diseases.”

For more information, please visit http://olympusamerica.com/venture-capital. Olympus Innovation Ventures can be contacted at ventures@olympus.com.

For the contact:
Olympus Corporation of the Americas
Christos Monovoukas
Vice President, Global Business Development
Christos.Monovoukas@Olympus.com

Touchdown Ventures
Deborah Zajac
Director, Investments
deborah@touchdownvc.com

About Olympus
Olympus is passionate about creating customer-driven solutions for the medical, life sciences, and industrial equipment industries. For more than 100 years, Olympus has focused on making people’s lives healthier, safer and more fulfilling by helping to detect, prevent, and treat disease; furthering scientific research; and ensuring public safety. As a leading medical technology company, our Medical business uses innovative capabilities in medical technology, therapeutic intervention, and precision manufacturing to help healthcare professionals deliver diagnostic, therapeutic, and minimally invasive procedures to improve clinical outcomes, reduce overall costs, and enhance the quality of life for patients and their safety. Olympus’ Medical portfolio includes endoscopes, laparoscopes, and video imaging systems, as well as surgical energy devices, system integration solutions, medical services, and a wide range of endotherapy instruments for endoscopic and therapeutic applications. For more information, visit www.olympus-global.com.

About Touchdown Ventures
Touchdown Ventures partners with corporations to manage their venture capital programs. Touchdown works closely with each corporation to achieve the financial and strategic benefits from venture capital investments. The firm is a Registered Investment Adviser and maintains offices in Los Angeles, Philadelphia, and San Francisco. More information on Touchdown can be found at www.touchdownvc.com

Olympus Contact (Tokyo)
Yuka Horimoto
+81-90-2490-1071
yuka.horimoto@olympus.com

Olympus Contact (USA)
Susan Scerbo
+1-610-909-9153
sue.scerbo@olympus.com

Touchdown Ventures Contact
Deborah Zajac
Director, Investments
+1-917-558-4403
deborah@touchdownvc.com