Behind the growth of venture debt in SEA

More: Swiggy mulls boosting IPO size and Ant Group issues another round of dividends. [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: - Why SEA founders are [taking a shine to venture debt]( - Swiggy eyeing a bigger IPO size - Other newsy highlights such as Ant Group holding a new round of dividend payments --------------------------------------------------------------- Hello {NAME} Years ago, I remember reading about how people take on debt due to certain circumstances or responsibilities, and that “being in debt” is not always a bad thing. It’s a stark difference from how debt was depicted when I was growing up. In anti-gambling ads, debt was often portrayed as a problem that came with addiction. In TV shows, there were characters who couldn’t manage their finances well and had to borrow or ask friends and relatives for money. But realistically, being in debt is rather inevitable when you get a house or a car (unless you’re financed by the Bank of Mom and Dad). And in the startup world, there are also many other legitimate reasons to take out a loan: It’s a good way to conserve capital and can be useful for long-term investments. In today’s story, it appears that many Southeast Asian founders are getting on board with a specific kind of loan as the funding winter marches on: venture debt. What is it? And is such a debt a good or bad thing? Read on to find out. -- Jonathan  ---------------------------------------------------------------  THE BIG STORY [SEA founders warm up to venture debt as tech winter lingers]( Venture debt is gathering steam as founders and VCs face valuation mismatch, but experts caution about the potential risks. --------------------------------------------------------------- TRENDING NEWS [Swiggy weighs increasing its IPO size by $150 million]( The Indian food delivery startup is eyeing a bigger IPO, to secure up to US$1.4 billion in total. Swiggy plans to bump up its fresh issue of shares by US$150 million, a move that will require shareholder approval. The shareholder meeting is scheduled for October 3. [Ant Group to hold new round of dividend payments amid AI, overseas push]( Ant Group is holding a new round of dividend payments for shareholders and employees with equity incentives. The plan got the greenlight at a recent shareholder meeting, but the Chinese fintech giant did not reveal how much it would distribute. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Singapore’s top-funded tech companies in the last decade]( This automated tracker will help you see which tech firms in the city-state are scoring the most investments. --------------------------------------------------------------- ASIA PARTNERS’ NICK NASH TO SPEAK AT TIA CONFERENCE JAKARTA  Get ready for a keynote that will set the stage for the future of Southeast Asian tech Nicholas Nash, managing partner and co-founder of Asia Partners, will be delivering the opening keynote at TIA Conference Jakarta. Nick is a powerhouse in Southeast Asian tech, bringing years of experience and a sharp understanding of the region's challenges and opportunities. As a seasoned investor and entrepreneur, he has a pulse on the future of innovation in the region. In his keynote, Nick will share his insights on Southeast Asia’s tech resilience, focusing on the markets and industries that have kept the region powering through. He’ll also explore the underlying factors that enable this continued growth and development. Fourth-release tickets are 40% off - don’t miss out and [grab yours now!]( ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this]( page](. Our team will get back to you by the next business day. - K-Link - [Klink.cloud Partners with Rakuten Viber To Enhance Business Communication in APAC]( Klink.cloud partners with Rakuten Viber to enhance business communication in APAC, integrating Viber Chatbots to streamline customer engagement. - First Rate Connect - [Launch of First Rate Connect Venture Accelerator, Aims to Support Singaporean Fintech Startups in Expanding to the US Market]( Launch of First Rate Connect Venture Accelerator, Aims to Support Singaporean Fintech Startups in Expanding to the US Market. - Libertex - [Libertex adds a dash of European Football excitement to iFX EXPO Asia 2024]( The global CFD industry leader will have a distinctive presence at Asia’s benchmark online trading event. - Fingular - [Global neobank Fingular launches “Buy Now, Pay Later” business in Malaysia under the brand AhaPay]( Global neobank Fingular launches “Buy Now, Pay Later” business in Malaysia under the brand AhaPay. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](.  [Leadership Collective: Building at Scale on September 26]( Consider this your backstage pass to the expanding intersection of design and AI, where creativity meets algorithms and workflows transform into intelligent, collaborative ecosystems. We're unpacking how AI can help you improve traditional processes, build innovative products, and gain a competitive edge. Seats are extremely limited - [apply now.]( [Gemini Day for Startups: Indonesia on September 26]( Stop wondering if generative AI can transform your business - see it in action instead. This exclusive event will show you how to leverage AI to unlock new revenue streams, optimize operations, and gain a competitive edge. [Apply for your invite today]( - limited spots available, so secure yours now. [SYNC 2024 on October 08]( Get ready to experience the future of AI at #SYNC2024, an exclusive, closed-door event convening 100 of Asia's most influential minds in the AI landscape. We're thrilled to announce that Min-Liang Tan, co-founder and CEO of Razer, will be joining our main stage speaker lineup. Besides the main stage content, expect tailored roundtables, demos from AI startups, and networking opportunities aimed at equipping you with the knowledge and resources to navigate the ever-evolving AI landscape. This exclusive event is by application only. [Find out more about SYNC 2024 today.]( [Startup Factory at Tech in Asia Conference Jakarta]( Are you a founder looking for inspiration, connections, and the latest tech insights? Look no further than the Startup Factory at #TIAConferenceJKT! This exclusive space, designed for founders like you, will showcase the region's most promising tech companies. Get up close and personal with the innovators shaping the future, discover the trends driving the tech industry, and connect with potential partners and investors. Competition is fierce and limited booth slots are available. [Apply now!]( ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Sales Manager (Fitness and Wellness Software)]( at Rezerv Indonesia Bulk Terminal, Indonesia - [Cyber Security Engineer (Blue Team)]( at PT Xapiens Teknologi Indonesia Tangerang, Indonesia - [Account Manager]( at Jack Jakarta, Indonesia - [Project Manager (Creative Service)]( at Boleh Dicoba Digital Bandung, Java, Indonesia - [petugas entri data]( at Aruna Jakarta, Indonesia - [Internal Audit Sr. Associate]( at GoWork Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Tech in Asia thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Too many emails? 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