Start@SG :Thai association joins Asean Venture Council

Thai association joins Asean Venture Council

A Thai venture capital association has joined two others - from Singapore and Indonesia - in the Asean Venture Council.

This is an umbrella organisation that enables member associations to promote and develop the venture capital industry across the region.

Representatives from Singapore Venture Capital & Private Equity Association (SVCA), Asosiasi Modal Ventura Untuk Startup Indonesia and Thai Venture Capital Association signed a memorandum of understanding in Singapore on Tuesday.

"The purpose of creating this coalition is to bolster inter-country relations and to enable each of our markets to leverage each other's strengths and innate potential," said SVCA chairman Jeffrey Chi.

Seed funding to Beam about

Beam, an app that connects entrepreneurs, investors and other ecosystem players, has raised an undisclosed amount of seed funding from Malaysian fund Tinkbig Venture.

The Singapore- and Malaysia-based company plans to use the money to grow its presence in South-east Asia.

It also plans to expand its suite of services to help start-ups connect and grow.

The app has about 2,000 users from Singapore and Malaysia.

S'pore start-up clicks with Philippine buyer

Philippine-based consumer tech company Xurpas has bought Singapore-based start-up Art of Click for US$45 million (S$62 million).

Founded in 2011, Art of Click has developed a proprietary ad optimisation platform for advertisers which lets them track how their campaigns translate into actual sales.

" We believe that Art of Click is a perfect match for our mobile consumer services, and that growth prospect excites us," said Xurpas chairman and chief executive Nix Nolledo in a filing to the Philippine Stock Exchange.

Chia Yan Min

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A version of this article appeared in the print edition of The Straits Times on October 13, 2016, with the headline 'Start@SG'. Print Edition | Subscribe