A happy enough ending to the Cake Group saga

More: China’s "Big Fund” for the semiconductor industry and Adani Group’s fintech and ecommerce plans. [Read from your browser]( Daily Newsletter Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](.  --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [The conclusion to the legal battle between Cake Group’s founders]( - A startup in the Philippines that’s automating accounting and tax compliance - Other newsy highlights such as China’s “Big Fund” for the semiconductor sector and Adani Group’s fintech and ecommerce plans --------------------------------------------------------------- Hello {NAME} Everyone loves a happy ending, and this was a key element in the stories of my childhood. The Power Rangers defeat the monster of the week, Ash and Pikachu send Team Rocket blasting off again, Ariel the Little Mermaid gets her man and her voice back, Road Runner thwarts Wile E. Coyote’s attempts at capture, as usual … you get the gist. Of course, now that I’m an adult who has experienced the realities of the world, I realize that happy endings aren’t always happy. Also, happy endings can take on many forms, and sometimes we’re content with an ending that’s happy enough. That seems to be the case with the legal saga at crypto firm Cake Group, which appears to have finally drawn to a close. We find out more in today’s premium story. -- Stefanie  ---------------------------------------------------------------  THE BIG STORY [Cake Group CEO buys ex-CTO’s stake, ending legal feud]( U-Zyn Chua says that the final amount is “much lower than the original deal” that he and Julian Hosp had tentatively agred to last November. --------------------------------------------------------------- TRENDING NEWS [Philippines’ Beppo raises pre-seed funding, buys tax compliance peer JuanTax]( The acquisition also gives Beppo accreditation from the country’s Bureau of Internal Revenue, which JuanTax secured in 2019. [China unveils $47.5b fund to power semiconductor industry]( China’s ministry of finance is the leading shareholder, owning 17%, followed by China Development Bank Capital with a 10.5% stake, Reuters reported. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [SEA’s listed tech majors in 19 charts: GoTo, Bukalapak continue slide, US-listed peers inch up]( These companies could dictate whether more global investors will back Southeast Asia and decide the fate of the region's tech industry. --------------------------------------------------------------- TECH IN ASIA’S FOUNDERS MEETUP: VIETNAM ON MAY 30 Happening today - get your ticket now! Founders Meetup is headed to Vietnam this evening as part of the official closing party of Saigon Summit! Unwind and connect with founders, startup leaders, and investors from across Southeast Asia - Vietnam, Singapore, Thailand, Malaysia, the Philippines, and beyond - at this premier networking mixer. 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