Deal’s off between Khazanah and eFishery

More: DBS gets banned from acquiring new business ventures for six months. [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: - [How Khazanah’s involvement in eFishery’s fundraise fell through]( - Tech in Asia getting acquired by SPH Media - Other newsy highlights such as MAS slapping DBS with a ban --------------------------------------------------------------- Hello {NAME} I recently heard a phrase about working with other people: “Underpromise, overdeliver.” It alludes to the idea of playing it safe and beating expectations. If you tell people you can only achieve below your true potential, you give yourself room for error if something goes wrong. On the other hand, if you do manage to get things done in a way that surpasses expectations, you get to deliver a pleasant surprise. That said, there are two caveats: - You can’t always do this, or else people will realize that you’re not being honest. - No matter how much effort you put in, sometimes things just don’t work out the way you want them to. The latter appears to have happened between Malaysian sovereign wealth fund Khazanah Nasional and Indonesian aquatech firm eFishery, as the former pulled out of the latter’s series D round. Today’s premium talks about what went down between the two firms. -- Jonathan  ---------------------------------------------------------------  THE BIG STORY [Khazanah backed out as anchor investor in eFishery’s series D round: sources]( Tech in Asia’s sources also talked about why Malaysia’s sovereign wealth fund withdrew from the deal. --------------------------------------------------------------- TRENDING NEWS [MAS bans DBS from acquiring new ventures for six months]( The move comes after repeated outages in Singapore-based bank’s digital banking services this year. [A new chapter for Tech in Asia’s journalism]( I can’t say this development was on our bingo card at the start of the year. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Capital SEA: Southeast Asia’s funding landscape]( Who are the new active investors on the block? Which funding rounds look like outliers? This visual story answers all this and more. --------------------------------------------------------------- TECH IN ASIA’S FOUNDERS MEETUP: VIETNAM Did you miss last June’s meetup? Great news: We’re coming back to HCMC! With over 3,000 startups and four unicorns, Vietnam is solidifying its position as a prominent startup hub in Southeast Asia. As the country continues its upward trajectory, it’s essential to familiarize yourself with the opportunities and challenges in its startup scene. Looking for some fresh perspectives on how to navigate and thrive in this ecosystem? Or do you have tips and best practices that can help others overcome roadblocks? This upcoming event is for you. If you missed the first round of our Founders Meetup, then make sure to mark November 30 on your calendar. Join us in the heart of Ho Chi Minh City at the Hive Villa to connect, learn, and exchange ideas with fellow founders from the Tech in Asia community. Why go on your startup journey alone when you can turn to and collaborate with peers? Tickets are on sale at an early bird rate of US$10, inclusive of complimentary drinks. This is available for a [limited time only - get yours before they’re sold out]( Special thanks to our official event partners - AppWorks, AWS, CleverTap, Cooley, Sinarmas Land, Singapore Global Network (SGN), Quest Ventures, Purple Quarter and AppWorks - and our venue host, the Hive Villa, for making this meetup possible. ---------------------------------------------------------------  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](. - [Product Manager]( at SATURDAYS Indonesia Bulk Terminal, Indonesia - [Campaign Specialist (Remote and Japanese Speaking)]( at Adzymic Jakarta, Indonesia - [Software Architecture]( at PT Kawan Lama Sejahtera Jakarta, Indonesia - [Dev Ops Engineer]( at PT. Solusi Pembayaran Elektronik Tangerang, Indonesia - [Business Development Administrative]( at Scout.inc Yogyakarta, Indonesia - [Game Writer]( at Avarik Saga Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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