This crypto VC firm remains bullish in the bear market

More: Reposo enters Indonesia and Southeast Asia’s digital economy continues to grow. [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: - [This crypto VC firm looking to raise its second fund]( - Other newsy highlights such as the arrival of a TikTok rival in Indonesia (try saying that five times fast) and how much Southeast Asia’s digital economy has grown this year --------------------------------------------------------------- Hello {NAME} In 2022, Web3 was hot. Every other day, it seemed like there was some company operating in the sector - be it in DeFi, GameFi, the metaverse, or something else - that had raised funds. Of course, that’s changed this year. According to Crunchbase, global venture funding into Web3 startups dropped 76% year on year in the second quarter of 2023. While it’s not just Web3 that’s been hit by the funding winter, the sector has definitely lost some of its shine, thanks to events like the Axie Infinity hack, the Luna crash, and FTX’s collapse. Despite the gloomier landscape, Web3 is still ripe with potential. That’s why the crypto investor we spoke to for today’s premium story is still bullish on the industry - even if the market has been bearish for a while. -- Stefanie P.S.: We’ve got a very exciting announcement - Tech in Asia [has been acquired]( by SPH Media! Nothing’s gonna change, though - we remain committed to serving the tech and startup community in Asia, and we’ll only grow stronger with the support of SPH Media’s extensive networks and resources. Thank you for all the support on our journey so far.  ---------------------------------------------------------------  THE BIG STORY [Why this crypto VC firm is confident of raising $100m fund in a bear market]( Brandon Gath, managing partner at Kraken Ventures, underscores the edge crypto-native VCs have in today's tough Web3 investment climate. --------------------------------------------------------------- TRENDING NEWS [SEA’s digital economy to generate $100b revenue in 2023]( Private funding for the region’s digital businesses is poised to drop to its lowest level since 2017, the 2023 edition of the e-Conomy SEA report noted. [TikTok’s Indian rival Roposo enters Indonesia]( Roposo has been testing over 40 daily livestreams for the past five months and aims for 10 million daily viewers within the next year. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Surviving the funding game: how timing can make or break your startup]( Industry realities, economic conditions, and market volatility can affect the time gap between funding rounds. --------------------------------------------------------------- AN EXCLUSIVE GATHERING OF BUSINESS LEADERS ON NOVEMBER 16 RSVP to meet executives from Meta, P&G, GoTo, UOB, Agoda, and more! Are you ready to spice up your decision-making game and get creative with your global scaling strategies? For one night only, Tech in Asia and G-P are holding an event for senior business leaders, talent managers, and founders that you wouldn’t want to miss! Happening at Bridge+ on November 16, link up with peers from Meta, P&G, GoTo, UOB, Oracle, Agoda, Obayashi, VMLY&R, Ant Group, Circles.Life, and more to get inside scoops and helpful tips to supercharge your decision-making strategies. You’ll be in for a casual and insightful evening filled with networking opportunities, free-flowing refreshments, fun quizzes, an interactive panel, an open Q&A, a modern calligraphy activity, and more - it’s all on the house! There’s only a handful of spots left so hurry! [RSVP here to claim your seat before it’s snatched up](. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [AD] [StartmeupHK Festival]( on November 8 to 17 It might be a little early, but it does feel like we’re already getting closer to the festive season. And what better way to be festive than with, well, a festival? We’re about a week away from Hong Kong’s biggest tech startup event, the StartmeupHK Festival, which will kick off with a series of activities at Ocean Park Hong Kong. It’s going to be a packed eight days filled with seminars and exhibitions, as well as pitching, business-matching, and networking opportunities. Sounds good? Get your tickets [here]( before they run out! - [Tech in Asia’s Founders Meetup: Vietnam on November 30]( Did you miss us last June? Great news - we’re coming back to Ho Chi Minh City on November 30 for another round of our networking event! With over 3,000+ startups and four unicorns, Vietnam is poised to become a prominent startup hub in Southeast Asia. While opportunities abound in Vietnam’s startup scene, issues like talent shortage and regulatory hurdles also persist. Need some insights on how to navigate and thrive in this scene? Come join us at the Hive Villa (29 Nguyễn Bá Lân, Thảo Điền, Quận 2, Thà nh phố Hồ Chí Minh 713385, Vietnam) from 6:30 p.m. to 8:30 p.m (GMT+7). Connect with fellow startup leaders to learn how you can grow beyond the early stages of your journey and explore solutions to pressing concerns. [Sign up now!](  - [Brushstrokes to Success: Design a Solid Growth Plan for 2024 on November 16]( Time to get creative and spice up your decision-making game with fellow senior leaders, talent managers, and founders! Hosted at Bridge+ on November 16, mingle with peers from Meta, P&G, GoTo, UOB, Oracle, Agoda, Obayashi, VMLY&R, Ant Group, Circles.Life, and more to get insider tips on supercharging your strategies. Come enjoy an evening filled with networking opportunities, free-flowing refreshments, fun quizzes, an interactive panel, an open Q&A, a modern calligraphy activity, and more - it’s all on the house! [Tickets are almost gone so grab yours now](  - [Tech in Asia x Airwallex - Exclusive Mixer]( Mingle with APAC's Payment and Growth Leaders on November 14 Meet and connect with your peers at Exclusive Mixer: Mingle with APAC's Payment and Growth Leaders, an invite-only networking event on November 14 co-hosted by Tech in Asia and Airwallex. This isn’t your run-off-the-mill corporate event. It’s a gathering of forward-thinkers across Asia Pacific and anyone eager to discover best practices in optimizing and streamlining payment journeys at scale. Grab drinks and light bites while soaking up Singapore’s cityscapes from Honcho’s rooftop bar as you mingle. Come hang out and unwind at this relaxed and casual mixer - all refreshments are on the house [Get your ticket]( to this closed-door event and build lasting connections. Slots are limited so secure 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. - Agate - [Level Up powered by Agate Shares Strategies to Improve Business Performance Through Gamification Adoption]( Level Up powered by Agate highlights 2024 gamification trends, boosting business engagement by 30% for improved performance.  - BeTagged - [What’s next after the ban on TikTok Shop in Indonesia? Enter InCom]( TikTok Shop ban in Indonesia will pave the way for new solutions to fill the gap like the recently launched Influencer commerce marketplace, InCom. - SPH Media - [SPH Media to acquire Tech in Asia]( SPH Media today announced that it has entered into an agreement to acquire Tech in Asia Pte. Ltd. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Merchandiser]( at Jakmall Jakarta, Indonesia - [Full Stack Software Engineer (Javascript MERN)]( at PT docheck Bagi Indonesia Bandung, Java, Indonesia - [Business Development Associate/Senior Associate]( at Deliveree Indonesia Jakarta, Indonesia - [SEO Writer]( at kumparan.com Jakarta, Indonesia - [Accounting Manager]( at Scout.inc Jakarta, Indonesia - [Instructional Designer]( at Boleh Dicoba Digital Bandung, Java, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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