Can VC dry powder reignite startup funding?

Check out our top articles for the week. [Read from your browser]( Top Stories of The Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} For me, the term “funding winter” doesn’t quite conjure an image of scarcity. Winter is associated with snow, which is essentially solidified water - it doesn’t really indicate an absence or shortage. In contrast, ”funding desert” paints an arid picture: cracked land singed by the scorching sun. Just looking at pictures of it makes you feel so parched that you need a glass of water to quench the thirst. I have always been fascinated to know who comes up with these business-related phrases. I imagine someone like George Costanza - the short, bald, and bespectacled character from the ‘90s hit show Seinfeld becoming ecstatic and animated after coining a new term. Another phrase liberally tossed into conversations by investors these days is “[dry powder]( which was originally a military term from the 17th century. It referred to the dry gunpowder that was kept on hand for a functioning gun or canon. In a similar way, we found out that VC funds have ample reserves of dry power, ready to reignite the startup ecosystem in Southeast Asia and India. The data I collected shows that VC funds focused on these two markets have seen a sharp rise in fund commitments in 2022. After just about a month and half into 2023, VCs had already raised nearly US$3.8 billion - over one third of what they raised a year earlier. At present, these funds are only trickling into the ecosystem, they start to stream in during the upswing. A large number of VC funds are already zeroing in on Southeast Asia and India. Apart from mentioning the amounts raised, the data also includes details about the managing partners in charge of investment activities. In addition, we analyzed where investors plan to deploy theirdry powder, and fintech emerged as one of the most sought-after sectors. If you run a startup or know someone who does, you can find active funds on our regularly updated list. If you’re from a VC firm and can’t find your recent fund on this list, do reach out to me: collin@techinasia.com. -- [Collin Furtado]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [VC funds tracker: B Capital commits $500m for healthcare]( Fundraising is difficult. To make things easier, we have compiled a detailed list of the most recent VC funds for our subscribers. 2. [Org Chart: Top brass realignment at GoTo Group]( With the latest restructuring, Andre Soelistyo and William Tanuwijaya will both sit at the top of the tech giant. 3. [Here’s how GajiGesa reduced costs by 15%]( In the first edition of our Cost Control series, GajiGesa’s Vidit Agarwal shares tips that helped curb the firm’s spending. 4. [PropertyGuru’s financial health in 5 charts]( The Southeast Asian proptech company has just announced its fourth quarter and full-year 2022 results. Here are five charts that track its performance. 5. [Indonesia’s big four banks are minting it but need to watch their backs]( BRI, Bank Mandiri, BCA, and BNI may boast high net interest margins, but they shouldn’t be complacent. 6. [Capital SEA: Southeast Asia’s funding landscape (updated 01 Mar 2023)]( Who are the new active investors on the block? Which funding rounds look like outliers? This visual story answers all this and more. 7. [Meet the 50 top-funded startups and tech companies in Singapore]( Here are the companies in the city-state that are attracting tons of investors and have the resources to spend on software, talent, and expansion. 8. [The lowdown on Malaysia’s new $804m tech budget]( A looming capital gains tax on shares in unlisted companies may affect deals. 9. [Request Finance grew 5x amid crypto winter, says CEO]( The crypto payroll startup was an unexpected beneficiary of FTX’s collapse, which saw companies move funds out of CEXs into multisig and MPC wallets. 10. [SEA’s major listed tech firms compared in 8 charts]( These companies could dictate whether more global investors will back Southeast Asia and decide the fate of the region's tech industry. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia’s Product Development Conference 2023]( from May 16 to May 17 Tech in Asia’s Product Development Conference is back! This year’s edition, which will be held in person in Jakarta, will feature over 20 industry leaders, experts, and innovators sharing the latest trends and strategies that can accelerate product development growth. [Register now]( and you can get 50% off. This early bird promo is available for a limited time only, though, so don’t miss out! --------------------------------------------------------------- WHO'S HIRING  You can post a job [here]( or search for jobs [here](. [logo] [Senior IT DevSecOps]( at Suitmedia Jakarta, Indonesia IDR 8,000,000 – 12,000,000 [logo] [Marketing Communication Manager (Igloo)]( at Deall Jobs Jakarta, Indonesia IDR 20,000,000 – 30,000,000 [logo] [Account Executive]( at Influence ID Jakarta, Indonesia [logo] [Backend Engineer (Onsite/Remote)]( at Female Daily Network Jakarta, Indonesia Jakarta, Indonesia [logo] [Software Development Engineer - Backend (NodeJS)]( at Aplikasi Super Tangerang, Indonesia [logo] [Mobile Developer - iOS and Android (Fresh Graduate Program)]( at Sagara Technology Group Bandung, Java, Indonesia IDR 1,000,000 – 1,500,000 [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( 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. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  ---------------------------------------------------------------  Tech in Asia’s newsletters are handcrafted daily with love - and sometimes powered by good kopi. Copyright © 2023 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894