Monk’s Hill stays the course amid spiraling valuations

More: Sociolla scoops up US$60 million in funding while Byju’s secures more capital after layoffs. [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} While randomly scrolling through Instagram recently, going past all the cat, football, and dance reels, I came across a quote that caught my attention: “Comparison is the thief of joy.” Generally, I give little notice to the numerous inspirational quotes that clog up my feed, but this one struck a chord. It reinforced my conviction to focus on myself and try to be better on both an individual and professional level, which is easier said than done. It’s also a bit funny that the Instagram algorithm had me in a fix, sparking deep thoughts on personal growth. Anyway, it’s likely the folks at Monk’s Hill Ventures abide by a similar mantra. Regular readers of Tech in Asia’s [Recession Run series]( will know that several VC firms plan to ramp up their investments in Southeast Asia as startup valuations fall amid a funding winter and ailing economies. However, as today’s featured story highlights, Monk’s Hill is undeterred by the spiraling valuations. Managing partner Lim Kuo-Yi confirmed there is little interest in steering away from the VC firm’s tried-and-tested investment strategy of building a portfolio of about 15 to 20 companies per fund, saying Monk’s Hill doesn’t see “lower valuations to be the trigger to change our plans but instead to stay the course.” - Shravanth P.S.: If you’re an entrepreneur looking for funding, [fill out this form]( to get your company featured on our list of fundraising startups.  ---------------------------------------------------------------  THE BIG STORY [Recession Run: Valuation cuts don’t affect Monk’s Hill Ventures’ plans]( Monk’s Hill Ventures managing partner Lim Kuo-Yi shares his firm’s plan to navigate choppier waters and avoid deals that come across as bargains.  --------------------------------------------------------------- TRENDING NEWS [Sociolla raises over $60m from Temasek, L Catterton]( The Indonesian beauty startup’s store count has grown 20x since 2020. [SEA to see up to 5% yearly growth through 2032, Vietnam to lead the charge: report]( Despite headwinds, projections show that Southeast Asian economies will grow at a rate of 4% to 5% annually over the next 10 years. [Indonesia’s Kopi Kenangan opens first international store in Malaysia]( The coffee chain will open four more stores in the country by the end of this year. [SG manufacturing tech firm secures $2.6m series A]( SixSense will use the funding to expand its research and development, sales, and customer success departments. [Byju’s raises $250m days after laying off 2,500 employees]( This year through 2023 is set to be the company’s “best year in terms of revenue, growth, and profitability,” said CEO and founder Byju Raveendran. [Indian eyewear brand raises $5m in series A money]( ClearDekho recorded a 60% revenue growth between its last two financial years. ---------------------------------------------------------------  TECH IN ASIA ORIGINALS Tech in Asia Originals is where we produce video content that aims to breathe life into the people, companies, and markets in Asia's startup ecosystem. Explore all of our original videos [here](. [How Shopee infiltrated the psyche of the masses]( To achieve dominance in the tech industry, you need to indoctrinate the masses and gain an undyingly loyal following. ---------------------------------------------------------------  TECH IN ASIA PODCAST  Vibe Check: The lonely, stressful entrepreneur life Almost every story about entrepreneurs and founders focuses on the multi-million dollar funding rounds they’ve raised or the revolutionary tech and businesses they’ve built. But behind the scenes, it’s a very different story. After all, as a leader, people look to these founders for guidance and inspiration in all manner of things. What’s more, as the ones on top, there aren’t many people that they themselves could ask for help and advice - it can be an incredibly lonely path to walk. Episode three of Tech in Asia*’s new podcast miniseries *Vibe Check: Mental Health in the Startup World features Zelia Leong, co-founder of Anywhr and PraisePal. She talks about the mental burdens that founders face and how she coped with needing to make a painful pivot that cost people their jobs. [Tune in to her story here](.  ---------------------------------------------------------------  EVENTS HAPPENING   You can also check out a curated list of trending tech events [over here](. - *Event* [How marketing, product, and data teams drive world-class customer experiences]( on November 2 A report from Forrester Research indicates that strong customer engagement can increase a company's return on investment by 840%, achieve acccelerated growth via cost savings, and reduce customer churn rate by at least 50%. But what can companies do to drive this level of customer engagement? [Join us]( in an upcoming workshop on November 2 to uncover key insights on how forward-looking brands build strong customer experiences and engagement by aligning their marketing, product, and data teams. It’s also an opportunity to meet and network with representatives from Endowus, Starhub, PropertyGuru, McDonald’s Asia-Pacific, and more. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Python Engineer]( at 2359 Media Singapore, Singapore - [Senior CRM Consultant]( at Ematic Solutions Ho Chi Minh City, Vietnam - [Group Product Manager - Wealth & Platform]( at KoinWorks Jakarta, Indonesia - [Head of Sales]( at Pintar Ventura Group Jakarta, Indonesia - [Digital Marketing Manager]( at JAC Recruitment Indonesia Indonesia Bulk Terminal, Indonesia - [Business Intelligence Analyst]( at Virtue Consulting Partners 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. 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