The problems plaguing Malaysia’s largest VC

More: Razer files a lawsuit against Capgemini over a data breach from 2020, and a former Grab director launches a social media platform. [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](. --------------------------------------------------------------- Hello {NAME} I’m an avid gamer, and one of the things I love doing is watching esports tournaments. About a decade ago, I would regularly watch the League of Legends Championship Series (LCS), a professional league run by Riot Games in North America and Europe. I enjoyed the game, the matches were exciting, and the narratives of player and team rivalries kept me engaged week after week. Even though I eventually stopped playing the game to keep my mental health intact (you’d understand if you played League of Legends before), I was still interested in watching professional games. Somewhere along the way, however, the LCS lost its appeal. Top players started leaving or retiring, matchups got stale, and storylines seemed to fizzle out. I lost interest in the league and stopped watching altogether. In today’s story, we take a look at a similar situation for Malaysia’s largest VC firm, which appears to have stepped on slightly shakier ground in recent years. -- Jonathan --------------------------------------------------------------- THE BIG STORY [Has Malaysia’s largest VC lost its luster?]( Mavcap may boast a billion-ringgit fund, but its role in the country’s VC landscape has come under fire. --------------------------------------------------------------- TRENDING NEWS [Celsius files for bankruptcy, continues pause in withdrawals]( The crypto lender said that it currently has US$167 million in cash on hand to support operations during the process. [Indonesia’s Doku buys Malaysian fintech firm for $7.5m]( The acquisition will enable SenangPay to adopt new services that can help its merchants go from brick-and-mortar models into digital businesses [Digital yuan transactions in China hit $12b in first 5 months of 2022]( The five-month figure is comparable to the virtual currency’s transaction volume for the entirety of 2021, which reached US$13 billion. [Polygon makes it into Disney’s Web3 accelerator program]( Disney invited applications from venture-backed, growth-stage startups exploring improvements in tech and entertainment. [Tencent News retires NFT trading platform]( Magic Core, Tencent’s other NFT exchange, also faces lagging sales, reported Blue Whale Finance. 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