Deep Dive: How Asian VCs are giving the recession a run for its money

It’s undeniable – the world is in recession. Although it took longer for the downturn to hit Asia, startups and venture capitalists have been preparing for it for months. On this episode of Deep Dive, Tech in Asia emerging tech editor Collin Furtado discusses his insights from the ongoing article series Recession Run, where he talks to the region’s top investors about how they’re tackling the economic slump. Featured reporter: Collin Furtado, Tech in Asia’s emerging tech editor based in Bangalore, India Essential reading: Recession Run: East Ventures’ bets during a downturn Recession Run: Sequoia’s $850m plan during a downturn Recession Run: 500 Global’s investment plan in SEA Recession Run: Quest Ventures bats for food security, sustainable solutions Recession Run: Vertex Ventures says these sectors will thrive in a downturn Recession Run: Valuation cuts don’t affect Monk’s Hill Ventures’ plans Recession Run: Wavemaker’s Santos sees a crisis as a flight to quality Recession Run: Kickstart Ventures to deploy more funding in 2023 Recession Run: Australian VC to invest 20% of new fund in SEA Recession Run: BAce Capital advises founders to chase value, not valuation Recession Run: Iterative’s $55m plan amid a downturn Recession Run: CCV says autonomous tech, AI, robotics startups are the future

Once upon a time, all it took to build a workforce was a couple of ads in the classified section of the local newspaper. But with a global shift to remote working, companies have to consider a plethora of factors when hiring talent: Which markets should I hire from? How can I stand out from other hiring companies? What can I do to make sure the talent I bring onboard stays? In this four-episode podcast series, G-P’s Charles Ferguson and Tech in Asia Studios’ Nathaniel Fetalvero walk listeners through the new age of hiring and how startups can navigate today’s talent economy. This is a startup’s guide to remote talent. Listen on your podcast platform of choice or visit the Tech in Asia website to access full episodes: https://www.techinasia.com/tag/a-startups-guide-to-remote-talent  Visit G-P’s website at www.g-p.com to learn more about the increasingly remote working world and how your business can gain an edge in the talent economy.

At the start of 2022, crypto firm Hodlnaut had the approval of the Monetary Authority of Singapore and close to US$1 billion in assets under management. Today, the Singapore-based company has halted its operations, faces lawsuits over allegations of dishonesty, and is being probed by the city-state’s police force. On this episode of Deep Dive, Tech in Asia journalist Scott Shuey discusses how the collapse of other crypto firms sparked Hodlnaut’s downfall, the alleged mismanagement and lies that exacerbated the situation, and what’s in store for the company’s future. Featured reporter: Scott Shuey, a Tech in Asia journalist based in Kuala Lumpur Essential reading: Hodlnaut may have had $187m exposure to Terra collapse UST, lies, and Hodlnaut: How a rising star fell back to earth Hodlnaut can’t pay salaries, benefits for dismissed employees Hodlnaut accuses EY staff of dishonesty; EY fires back Hodlnaut founders hid financial documents, new Singapore court report says Hodlnaut assets hit by FTX debacle For more stories on Hodlnaut, click here.

Vibe Check: Mental Health in the Startup World is a Tech in Asia podcast where writer and editor Winston Zhang speaks to startup leaders and mental health professionals to see what he can learn from them when it comes to managing his mental well-being. Listen to Vibe Check: Mental Health in the Startup World on your podcast platform of choice to catch weekly episodes of this limited series throughout the month of October. Or visit the Tech in Asia website to access full episodes: https://www.techinasia.com/tag/vibe-check 

Once a rising fintech company that drew in investors such as Y Combinator and Stripe, Philippines-based PayMongo now finds itself in a precarious position. Allegations of questionable spending and employee harassment from senior leaders cropped up a few months ago, leading Francis Plaza, the startup’s CEO, to go on voluntary leave. What happened at PayMongo? And what can other fast-growing companies do to avoid the same fate? On this episode of Deep Dive, Tech in Asia journalist Melissa Goh discusses the events that led the company to its current state, how the incidents have affected PayMongo’s growth and performance, and the importance of strong corporate governance. Featured reporters: Melissa Goh, a Tech in Asia journalist based in Singapore Essential reading: Fallout at PayMongo: alleged harassment by CEO, founder departures, growth woes PayMongo’s former CFO: ‘I never stole from any company’ PayMongo CEO goes on ‘voluntary leave’ What caused PayMongo’s crisis? Insiders tell us Tech in Asia has launched a new podcast for World Mental Health Day. Vibe Check: Mental Health in the Startup World follows Tech in Asia writer and editor Winston Zhang on his quest to better manage his mental well-being through conversations with startup leaders and mental health professionals. Weekly episodes are available throughout the month of October on Spotify, Apple Podcasts, and wherever you get your podcasts.

Animoca Brands is a name that is practically synonymous with the blockchain scene, with news of its acquisitions, fundraising, and expansions regularly hitting the news. But the Web3 empire’s thrilling crypto success was sparked in a manner that is less grand than its current stature. Though it’s now valued at US$5 billion, it was actually delisted from the Australian Stock Exchange (ASX) in 2020. How did the blockchain gaming juggernaut make such a stunning turnaround? On this episode of Deep Dive, Tech in Asia journalist Deepti Sri discusses the company’s rise to prominence and its ambitions to conquer the Web3 space. Featured reporters: Deepti Sri, a Tech in Asia journalist based in India Essential reading: Animoca’s meteoric rise from zombie to $5b Web3 empire

As digital banking rises to prominence in Indonesia, tech companies from various sectors have been dipping their toes in the game, partnering with and sometimes even acquiring digibanks. Leveraging their greater and easier access to capital, online and peer-to-peer lenders have also joined the fray. However, some question whether this move toward the digital banking space might spell doom for the lending scene. Will digibanks soon render online lenders obsolete?  Or is there room for coexistence in the future? On this episode of Deep Dive, Tech in Asia journalist Budi Sutrisno discusses what lies ahead for Indonesia’s online lending scene. Featured reporters: Budi Sutrisno, a Tech in Asia journalist based in Jakarta Essential reading: Why Indonesia’s tech giants find digital banks irresistible As digibanks rise, will Indonesia’s online lenders become obsolete? The tech companies bankrolling Indonesia’s digital banks

GoTo Group, the new entity formed through the Gojek-Tokopedia merger last year, listed on the Indonesian Stock Exchange this month. While the company’s shares quickly soared past its initial offering price, it also fell just as quickly in a manner reminiscent of the recent public listings of other Southeast Asian firms such as Bukalapak and Grab. Is this just how Southeast Asian tech stocks perform on the public markets? On this episode of Deep Dive, Tech in Asia journalists Ardi Wirdana and Aditya Hadi Pratama discuss GoTo’s IPO and what its performance might mean for the wider tech and startup scene in Southeast Asia. Featured reporters: Ardi Wirdana, a Tech in Asia journalist based in Jakarta Aditya Hadi Pratama, a Tech in Asia journalist based in Jakarta Essential reading: GoTo Group’s financial health in 4 charts GoTo’s IPO numbers split opinions, but investors may warm to share price GoTo begins $1.1b IPO process Org Chart: The people leading GoTo Group GoTo shares up by 15% in initial trading, giving valuation of $32b GoTo’s shares decline to IPO price, triggering greenshoe option GoTo IPO marks win for 2 early SEA VCs, and may supercharge the region’s VC scene Get your tickets to Tech in Asia's Product Development Conference '22 now by going to techin.asia/pdc

Indonesian online lender UangTeman has had a tough few years. Its name has been in and out of headlines since 2018, with stories either focusing on the company’s financial troubles or its apparent recovery. But what’s at the core of UangTeman’s troubles? On this episode of Deep Dive, Tech in Asia journalist Putra Muskita discusses the embattled online lender’s current plight and whether it can pull itself back from the brink of collapse. Featured reporters: Putra Muskita, a Tech in Asia journalist based in Jakarta Essential reading: Exclusive: Indonesian online lender UangTeman had a rough 2018. Here’s what happened After a tough 2018, Indonesian online lender UangTeman looks to be bouncing back Indonesian online lender UangTeman raises $10m in series B round UangTeman on the brink of collapse, pins hope on white knight Troubled UangTeman finds potential buyer, seeks OJK license extension Investors in UangTeman struggle to claw back their money Indonesia’s UangTeman loses online lending license

As blockchain-related projects gather steam across Asia, the region’s countries are adopting crypto in unique ways. While Vietnam’s strong gaming culture has driven its crypto boom, India’s NFT gold rush has been powered by Bollywood film stars. However, regulation is still a tough nut to crack across the region. In this episode of Deep Dive, Tech in Asia’s Thu Huong Le, Nikita Puri, and Melissa Goh discuss how countries across Asia are navigating the world of crypto. Featured reporters: Thu Huong Le, a Tech in Asia journalist based in Vietnam Nikita Puri, a Tech in Asia journalist based in India Melissa Goh, a Tech in Asia journalist based in Singapore Essential reading: Explaining Vietnam’s crypto boom Inside the tsunami of NFTs in India Is Dubai stealing Singapore’s thunder in crypto? The Philippines: Asia’s next crypto hub? How NFTs are going from megabytes to mega bucks