Data Vantage | Tokenize Xchange, Chitose, Jatri and DELOS in focus
Edition #408, 17 September 2024
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Dear Reader,
Singapore-headquartered cryptocurrency exchange Tokenize Xchange has received [redacted] million from a special purpose vehicle (SPV) backed by [redacted] as part of a Series A2 round.
The company announced in March that it had raised $11.5 million in the second tranche of the Series A round. The first tranche was raised in 2022.
The latest funding, backed by existing shareholder Trive, brought the firm’s Series A total to $23 million. Tokenize Xchange is seeking to raise a total of $33 million in the round by the end of this year.
The startup plans to expand its team in Singapore, aiming to increase its headcount over the next 18 months. Most of these new positions will focus on strengthening compliance and operations.
On Monday, Tokenize Xchange announced that blockchain gaming company Animoca Brands has invested an undisclosed sum in its Titan Chain blockchain technology.
Animoca will provide market-making services, become the largest node validator for Tokenize, and list the TKX token, per a company statement.
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Growth capital dominates PE fundraising
Southeast Asia-focused private equity (PE) firms raised $10.4 billion over the past five years, with 86% earmarked for growth capital investments, per our latest biannual review of PE fundraising.
In contrast, only four buyout-focused funds were closed during this time, collectively raising $1.2 billion, according to Private Equity in SE Asia: H1 2024 Review.
Source: DATA VANTAGE
This trend underscores the region’s strong demand for growth capital, especially from tech and high-growth sectors seeking rapid expansion, while also indicating limited buyout opportunities.
Singapore-based PE firms led the fundraising tally, accounting for 17 final closes and capturing 65% of the overall capital raised. Additionally, four foreign firms achieved final closes for Southeast Asia-focused funds during this period.
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Other updates from DATA VANTAGE
Singapore-headquartered biotech firm Chitose Bio Evolution added Japanese manufacturing company NSK Ltd to its cap table last week following an equity investment of [redacted] million.
Cobo, a Singapore-based crypto custodian and asset manager, has received a $10 million capital injection from its parent company, Cobo Global Limited.
Jatri, a Bangladesh-based public transportation platform, has issued new shares worth [redacted] million to existing shareholders, including investment firm [redacted].
The Singapore subsidiary of digital assets exchange Upbit received $500,000 from its APAC parent last week.
Southeast Asia-focused venture capital firm Hiven has invested [redacted] in Indonesian aquaculture firm DELOS. The investment brings the latter’s Series A total to [redacted] million.
Charged Asia, a Singapore-based electric motorcycle manufacturer, has issued new shares worth $360k to [redacted] and existing shareholder Zuo Xiucheng.
Africa-focused super app Gozem has received [redacted] from the Asia Innovation and Healthcare Fund, a vehicle managed by Japan’s AAIC Investment.
OppDoor, a last-mile delivery startup founded by Flipkart co-founder Binny Bansal, has issued new shares worth $200k to Three State Ventures, a newly established venture firm also founded by Bansal.
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