Tuck Lye Koh

✨ We at Impact Circle MY are proud to share that Entomal Biotech has been named a top winner 🏆 of the Think City's Creative KL Grants Programme and Urban Challenge, receiving a substantial grant of RM200,000! 🎉 ✨ This recognition celebrates their pioneering solution, the Entomal Mobile Bioconversion System (EMBC), which employs Black Soldier Fly larvae to transform food waste into valuable resources like animal feed and organic fertilizer. This innovative approach not only reduces landfill use and incineration but also significantly cuts down on greenhouse gas emissions. 💫 A huge congratulations to the dedicated team at Entomal, especially Vic WK Pui, Thomas Pui, and Yanni Xinyan Ching, for their relentless effort and vision in turning the tide against food waste. Your work truly embodies the principle that one man’s trash is another man’s treasure. 🤝 Impact Circle proudly supports this groundbreaking initiative, which was launched in partnership with Taylor's University. This collaboration allowed students from the Bachelor of Science in Culinology program to engage in hands-on research, enhancing their educational experience while contributing to meaningful sustainability efforts. ✨ Entomal currently operates four EMBC units across the Klang Valley, with plans to expand further and empower communities, including creating job opportunities for B40 women. This project not only tackles environmental issues but also fosters social impact, aligning perfectly with our mission at Impact Circle. 🗞 For an in-depth look at Entomal’s impactful work and future plans, check out the feature published today in The Star! https://lnkd.in/gvhiaNgb 🙌 Let’s continue to support and champion such transformative solutions that drive us towards a more sustainable and liveable future. 👍 Well done, Team Entomal! 🌍💚 @impact ventures network #Sustainability #Innovation #ImpactInvesting #Biotechnology #CircularEconomy #FoodWasteManagement #EnvironmentalConservation #CommunityEmpowerment #ThinkCity #CreativeKL #EntomalBiotech #ImpactCircle #TheStar

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E107 In this episode of Fireside with a VC, we discuss scenario planning for China & Asia and the relationship with Silicon Valley. We explore future opportunities with Francis Bassolino, Managing Director of Alaris Consulting, who has been helping companies of all sizes enter, succeed in, and exit China over a span of 30+ years. Francis is also an adjunct professor at The University of Chicago Booth School of Business in Shanghai and Chicago. Having lived in Shanghai for over 21 years and in China since 1988, he brings extensive insights into the region. Watch the full episode on YouTube: https://lnkd.in/gdseyc2d. Find all episodes of Fireside with a VC on your favorite podcast platform: https://lnkd.in/gtzuxjJh. We delve into the history of what has happened and the opening of China up to today. We also look at different scenarios such as an invasion of Taiwan, a blockade of Taiwan, no invasion or blockade, China with no reforms, with reforms, and the potential for a return to high growth in China. We examine how these different scenarios will impact the greater Asia region and the West. Our discussion includes the relationship between China and Russia, particularly days before Russia invaded Ukraine when Chinese President Xi Jinping and Russian President Vladimir Putin announced their partnership has “no limits” and vowed to deepen cooperation on various fronts, including the Russia-Ukraine war. We talk about the bargain between the Chinese people happily giving up civil liberties for a prosperous life and 10% growth consistently over decades. We also cover the impact of recent oppressive COVID-19 lockdowns, the period of low growth, the lack of job opportunities for the youth, and the generation of young Chinese not getting married, having children, or working in post-Jack Ma China. Is the Chinese economy in a freefall now? Furthermore, we discuss the evolving relationship between Silicon Valley and China, what it might look like in the future, and different scenarios and opportunities for Western companies to grow revenues and lower costs with the Chinese partnership. Links and Resources: > Learn more about Francis Bassolino and Alaris Consulting at https://lnkd.in/gfa_zzcS. > Connect with Francis Bassolino: francis_bassolino@alaris.com.cn. > Follow Andrew Romans on LinkedIn: linkedin.com/in/romans/. > Subscribe to our newsletter to get insights and favorite content from the VC startup ecosystem: subscribe.7bc.vc.

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Elliott Management Bets On Japan Property With 5% Stake In Tokyo Gas US activist investor plans to push Japanese company to offload some of its $9bn real estate portfolio #activistinvesting #shareholdervalue #corporategovernance #governance #boardsofdirectors #capitalism #corebusiness

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I had an interesting chat with Yuke Xie from the South China Morning Post SCMP recently on the evolving investment strategies of Middle Eastern institutions and family offices.    Traditionally centered on the US and Europe, these investors and institutions are now turning their attention to the dynamic economies of #SoutheastAsia.    Looking forward, I foresee Southeast Asia maturing significantly as an investment hub, driven by its vibrant entrepreneurial ecosystem and fast-growing middle class. I believe Southeast Asia could well become a third pillar of international diversification for Middle Eastern investment, and #healthcare could potentially be a focal point.    Exciting times lie ahead for our SEA team of investment professional & operators, and we are currently raising a Southeast Asia-focused healthcare growth capital fund to capitalize on this growth.   Read more about it in the following link:

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【Temasek’s Bold $10 Billion Investment in India 🇮🇳】 -- A Strategic Move Amid China Slowdown In a move that underscores India’s growing significance on the global investment landscape, Singapore’s sovereign wealth fund, Temasek Holdings, has announced plans to invest $10 billion in India over the next three years. 🇨🇳 This ambitious investment comes at a time when the performance of #Chinese markets has been lackluster, underscoring #India’s importance as one of Temasek’s top two preferred markets globally, alongside the #US. 🇸🇬 Looking at Temasek's #trackrecord, it's impressive to note that they have already deployed around $37 billion in India over the past two decades.. 💡As of 2023, India now makes up 7% of Temasek’s global portfolio by underlying assets, up from 4% in 2020. In 2023 alone, they invested a record $3 billion in the country. What stands out to me is their perspective on India's market dynamics: "India has always commanded a premium due to its growth potential. By identifying and investing in the right businesses, consistently achieved returns that justify the higher valuations" "The capital markets and deal sizes in India have been steadily increasing, thanks to the expanding and maturing financial markets. The current high valuations are justified by the potential for above-average returns," Temasek’s #InvestmentStrategy in India will focus on several key areas, including technology, financial services, healthcare, and consumer goods. 🌡️ For instance, Temasek’s portfolio, Sheares Healthcare Group, healthcare investor, recently invested almost $2 billion in Manipal Health Enterprises Pvt. Ltd, Indian leading muli speciality hospital operator, with total stake of 59% (new 41%) at $4.9 billion valuation. This valuation is justified by Manipal’s strong financial performance, including 1) a revenue of around $488 million, 2) an EBITDA margin of 24% for FY 2023, 3) several millions patient as sticky customers and 4) potential for free cash flow generation. Later, they sold 8% stake to Abu Dhabi sovereign wealth fund, Mubadala while holding majority shares. Very successful story and foreseen investment. I reckon their increasing investment in India reaffirms the country's status as a pivotal destination for global investors. As someone keenly observing these developments, it's clear that India's market offers tremendous opportunities, and Temasek’s commitment only strengthens this outlook. Ravi Lambah Alex Lin #startup #Singapore #Investment

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#Singapore has recently announced significant initiatives aimed at shaping its #tech future, dedicating SGD 440 million to attract #privateinvestment for deep tech startups. Southeast Asia's growth potential, driven by an expanding workforce, rising incomes, and urbanization, could propel its #digitaleconomy to a gross merchandise value (GMV) of $1 trillion by 2030. This situation presents a substantial #opportunity for #privateinvestors to engage with this dynamic landscape and contribute to the region's prosperous future. Here’s how: 💲𝗜𝗻𝘃𝗲𝘀𝘁 𝗶𝗻 𝗘𝗺𝗲𝗿𝗴𝗶𝗻𝗴 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝗶𝗲𝘀: VC and PE firms can support startups in sectors such as AI, fintech, EdTech, and HealthTech, fostering #innovation and new product development. 🔬𝗦𝘂𝗽𝗽𝗼𝗿𝘁 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗮𝗻𝗱 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 (𝗥&𝗗): Funding R&D can lead to breakthroughs in digital technology across various sectors, enhancing Asia's #competitiveness. 🛜𝗘𝘅𝗽𝗮𝗻𝗱 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗜𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲: Investing in telecommunications networks, data centers, and cloud platforms is essential for building a robust digital economy, which in turn facilitates business #growth. Private investors play a crucial role in developing a digital economy for Asia. By collaborating with government programs like the Startup SG Equity scheme, they can fully unlock the potential of #SoutheastAsia booming digital economy. What are your thoughts on this? References: https://lnkd.in/gWKrYX_f https://lnkd.in/gRzADP8N

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✨ Breaking: Granite Asia Technology Investment Announces New Fund.- Granite Asia Technology Investment Granite Asia, with INA, invests up to $1.2 billion in Indonesia's technology sector, focusing on equity and hybrid capital investments. https://graniteasia.com/ Please share to let other #Founders know For the ❤️ of Startups #Fusion42 #Startups#Venturecapital

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The SEA consumer investment segment is brimming with opportunities. Reflecting on our recent investment in Coolmate and other portfolio companies, I find the interplay between consumer upgrading, downgrading, and addressing unmet needs to be complex, yet super rich with potential. https://lnkd.in/gSZetkyS

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As a delegate, the measure of a successful conference is in the side meetings. 💼 🌍✨ Not in high-level discussions on stage, not in symbolic gestures from politicians, and not in the amount of media attention. Side meetings are a leading indicator of the real action that will take place after the event. In the 10 years that I have been attending #Ecosperity, this year was the most impressive. 🌟 Together with 🇺🇸 Frank T. Troise 🇸🇬🇨🇭, our side meetings were prodigious - 🌍 We explored financing plans with emerging climate fund managers. 🌱We discovered new climate-tech and carbon projects.  💡We developed action plans to crowd in finance from channels in our own home country 🇺🇸 . 💪We met old friends from Hong Kong, London, Geneva, and Seoul, and made new ones from Australia, Paraguay, Malaysia, and India. Now the real work begins! Let's go! #singapore #sustainablefinance #netzero #climaterisk #Temasek #Philanthropy Asia Alliance #The Liveability Challenge #ClimateAction #GenZeroSummit2024 #GenZero

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As a venture capitalist, TRIVE's focus is on exits for my SouthEast Asian based portfolios, and IPOs are one of the main avenues to achieve an exit and a return on my investments. 5 of our startups are considering their IPO plans in the coming 3 years. After advisory from the M&A advisors and internal consideration, the NASDAQ is the choice for 4 of 5 of them. Only one decided on the local SGX as it is on a more traditional path. Nevermind if these startups are primarily operating in SEA and naturally should find familiarity with SGX to list. Unfortunately, they see better valuations, liquidity and brand recognition by listing on the NASDAQ. It has been a long-time complex issue to energize the SGX and to ask our SEA startups to call it home. It is a pity because Singapore is the prime location for private equity and venture capital fundraise for startups in the region. But SGX barely sees any of our SEA unicorns listed on it. I for one, am a believer of a regional bourse to support the aspirations of the startups. And I hope more deeper conversations with the Singapore government and our relevant associations will one day see the SGX building that vision. Thanks to See Kit Tang for a very insightful long-form article and allowing me to be a part of it to bring my thoughts to it. #venturecapital #sgx #ipo https://lnkd.in/g_kzvyGa

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I’ll be one of the panelists at HKUST Unicorn Day organized by HKUST Entrepreneurship Center tomorrow. Along with other experts, we will be sharing insights on “Charting the Global Growth Trajectory: Investor Insights for Hong Kong Companies Expanding to Global Markets.” Looking forward to discussing strategies and challenges with fellow industry leaders and helping companies navigate the global business landscape. 🌍🌍 Hope to see you there! 😊😊 #HKUSTUnicornDay #GlobalExpansion #InvestorInsights #BusinessGrowth #Entrepreneurship #Innovation

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The voices are coming definitive about the need of a supportive Singapore stock exchange for startups. One of Singapore's legendary investors Boon Hwee Koh, who also happens to be the chairman of SGX, chimes in. In his letter to SGX shareholders, he explained that "Should [SGX} fail to enable venture capital and private equity to exit their investments and recycle the capital deployed, the supply of such capital will eventually dry up and threaten the start-up ecosystem that Singapore has built and nurtured over the past decades." In the past 20 years, startups operated independently of the SGX, where trade sales and US IPOs were the norm for exits. But it is timely for an alignment together with the SGX, in order for the Singapore startup ecosystem to evolve and survive. #venturecapital #sgx #startupsg https://lnkd.in/gAqZ9st9

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Enjoyed participating in a discussion on mobilizing investment to deliver a net-zero economy at the #JapanEnergySummit. The biggest barrier constricting VC capital flow is the potential for"death-by-pilot" where start-ups fail to secure the necessary funding required to support multiple iteration and scale-up phases often with moving goalposts from customers and partners. Contrary to popular belief, it is often commercial inertia that extends these timelines, not fundamental technology issues. While commercial partners need to manage risk, start-ups need to find partners where the highest levels of management see the vision for future alignment and are not just tinkering. And start-ups need to be able to give confidence to investors by striking early commercial deals with these partners that are subject to performance milestones and show real skin in the game.

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Congratulations to our True Global Ventures portfolio company Animoca Brands and team (Kenneth Shek Yat Siu Evan Auyang Jared Shaw Minh Do Alan Lau) with their US$23.9 million committed at 12x oversubscription on the MOCA Token Launch! 🌟 The total pre-deposited funds of US$29.3m was conducted on MocaList, a new co-branded token launchpad jointly launched by Mocaverse and CoinList. Access to the offering was gated by Moca ID, the MOCA Token Launch was the top-funded sale on CoinList so far in 2024, with participation by nearly 17,000 unique KYC-ed users from 123 different countries and record participation from the Mocaverse community. The MOCA Foundation serves as the platform to build the largest interoperable cultural economy in the Web3 space powered by the MOCA Token, and support the growth of Moca DAO, where members will take the lead in co-creating Migration Infrastructure Providers (MIPs) and engaging in cross-DAO empowerment through unique delegation models. I see KYC-Identity interoperability across Web3 applications accelerating ease of mass market adoption such that when you onboard onto one MOCA Ecosystem Web3 application you easily onboard onto all at the same time! https://lnkd.in/d6XTA-5D

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I resonate with B. Paul Santos' insightful commentary on Singapore's position in the equity markets. He speaks with the authority and understanding necessary to align the SGX with the aspirations of the startup and VC ecosystem in Southeast Asia. TL;DR: Success begins with a shift in mindset before taking action. But here’s the next challenge: Who will step up to lead this mindset shift and commit to transforming IPO opportunities for startups, even if it means risking their career? Over the past 16 years, I’ve witnessed a few courageous individuals in Singapore drive change in the startup landscape. From pioneering the iconic Block 71 and the launch of JFDI, Singapore’s first accelerator, to initiatives like IPPL-led accelerators and government-backed programs like iJAM.Reload, TiS, and SGTech commercialization grants. Change was made by bold initiatives and courage of men who stepped in to transform the startup ecosystem to what it is today. The question now is who are the next people who will see through the new change. Whether we’ll see a new wave of innovation that propels Singapore into another golden era for startups—or risk being overtaken by a rising Bursa Malaysia as the preferred destination for IPOs. https://lnkd.in/erAiiWv2

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💡 SGX Needs to Rethink Its Investor Base A year ago, I returned to investing in SGX-listed stocks as part of my personal asset allocation strategy. After 25 years away, I was curious to see how things had changed. One thing that stood out was the persistence of outdated practices. For example, physical B4 white envelopes are still being sent for AGM and EGM notices, along with physical proxy forms delivered by post. While there is an online option, it’s cumbersome: you have to first know where to find the website link, download a PDF, print it, fill it in, rescan it, and then email it. Ironically, the recipient likely prints it out again. When I spoke to a fund manager specializing in SGX stocks, he pointed out that the retail investor base is primarily made up of retirees who prefer physical documents. There has also been consolidation among institutional fund managers in recent years, resulting in less active trading and lower liquidity on SGX. The focus remains on blue-chip and dividend stocks, which are popular with retirees, but the momentum and capital gains trading that defined the 1990s and early 2000s has diminished. It may be time for SGX to broaden its appeal and attract younger investors. Modernizing the documentation process would be a good start—proxy forms today look the same as they did two decades ago. Why not integrate Singpass to streamline online submissions? Looking ahead, I expect SGX will list several high-quality IPOs that could bring exciting opportunities. However, without increased liquidity from both retail and institutional investors engaging in momentum-driven trading, these IPOs could be undervalued. Image: A screenshot of a proxy form I had to fill out by hand and mail. #sgx #equitiestrading

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