Tech-loving Sequoia unfazed by impending economic slump

More: Animoca’s latest head honcho and Fintonia scores Dubai digital assets license. [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} In today’s featured piece, our interviewee, Abheek Anand, managing director of Sequoia Capital Southeast Asia, highlights the need to keep an eye out for “enduring” companies - firms that can last through countless market cycles. It's because of these startups that Sequoia hasn't been forced to make significant changes to its investment plans even amid an economic slowdown. While small businesses are more vulnerable to macroeconomic speed bumps due to their lack of scale, it's underperforming and poorly managed firms that are commonly believed to be more likely to buckle under the weight of a recession even if they are well funded. In other words, tough times separate the winners from the losers across industries. Anand thinks the current market downturn is unlikely to be a short one, but will result in many enduring businesses becoming fundamentally strong and growing into large businesses in the long run. In the latest edition of Recession Run, a Q&A series on VC and investment strategies during an economic downturn, Tech in Asia gets the lowdown on why Sequoia Capital Southeast Asia has no plans to steer clear of tech-enabled sectors and how it intends to come out stronger from this “necessary and healthy correction in the markets.” Also, if you’re an entrepreneur looking for funding, [fill out this form]( to get your company featured on our list of fundraising startups. -- Shravanth  ---------------------------------------------------------------  THE BIG STORY [Recession Run: Sequoia’s $850m plan during a downturn]( Sequoia Capital Southeast Asia managing director Abheek Anand shares his thoughts on how startup founders should navigate through the recession.  --------------------------------------------------------------- TRENDING NEWS [Singapore to expand scope of crypto regulation]( The new regulations may include a clampdown on retail investors’ access to crypto, reported Bloomberg. [Animoca Brands names ex-Tencent insurance arm head as chief business officer]( At Animoca Brands, Alan Lau will be responsible for overseeing the firm’s portfolio and leading business development and M&A efforts. [SG-based Fintonia scores Dubai digital assets license]( The provisional virtual assets license marks the latest industry milestone for the group, following the launch of two Bitcoin funds in Singapore. [Didi may face over $1b fine as data security probe nears end]( The hefty penalty accounts for nearly 4.7% of Didi’s total revenue in 2021, sources with knowledge of the matter told Reuters. [Binance fined $3.4m in the Netherlands over regulatory issues]( Binance was dealt with a category three fine, the highest of the Dutch central bank’s three-level punishment scale. [Ola Electric to set up $500m battery research facility]( Ola will hire 500 doctorate holders and engineers for the new facility. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - *Event* [SYNC]( on Aug 3rd-5th, Conrad Bali Tech in Asia is excited to host our first closed-door, in-person networking summit in two years at Conrad Bali, Nusa Dua. Headlined by best-in-class speakers in Asia's tech startup scene, join over 100 C-suites at SYNC, Asia's premier tech summit to reconnect and reinvent ideas outside the boardroom.  - *Free Event* [TIA x Slack]( webinar on Reinventing Work Evidence from numerous recent employee surveys suggesting a clear preference for location and schedule flexibility. 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