In today’s briefing:
- S&P500 Index Rebalance: SPCY Additions & Large Impact
- Singapore-based web3 startup nets $3.5m funding
- NTU-incubated startup Amperesand charges ahead with funding
- Monk’s Hill, Iterative back Vietnamese wealth management startup 1Long | e27
- UNOAsia secures US$32.1M to provide digital banking services in Philippines | e27
S&P500 Index Rebalance: SPCY Additions & Large Impact
- Super Micro Computer (SMCI US) and Deckers Outdoor (DECK US) replace Whirlpool Corp (WHR US) and Zions Bancorporation (ZION US) in the S&P 500 INDEX at the close on 15 March.
- There are a bunch of inclusions, deletions and migrations across the S&P 500 INDEX (SPX INDEX), the S&P Midcap 400 Index, and the S&P SmallCap 600 Index.
- The largest flows will be in the S&P 500 INDEX (SPX INDEX) adds and the largest impact in the adds to the S&P SmallCap 600 Index.
Singapore-based web3 startup nets $3.5m funding
Startale Labs, a Singapore-based Web3 startup, has raised US$3.5 million in a series A follow-up round, according to Alternatives.pe.
UVM Signum Blockchain Fund, Sony Network, and Samsung Next Ventures were some of the investors in the round, which was raised at a post-money valuation of US$63.5 million.
Founded in January 2023, Startale Labs specializes in Web3 infrastructure development. Helmed by Sota Watanabe, the company creates core infrastructure and applications for Web3 that is integrated onto the Astar Network blockchain.
NTU-incubated startup Amperesand charges ahead with funding
- Amperesand, a Singapore-based electrical infrastructure company, has raised over US$12.4 million in seed funding.
- Xora Innovation, Temasek’s deeptech early-stage investment platform, co-led the round with venture capital firm Material Impact.
- TDK Ventures, the venture arm of Japanese electronics firm TDK, also participated, along with Foothill Ventures.
Monk’s Hill, Iterative back Vietnamese wealth management startup 1Long | e27
- The 1Long founding team 1Long, a wealth management platform in Vietnam, has received US$500,000 in a pre-seed investment round from Iterative, Monk’s Hill Ventures, R2VP, and Orionis Capital.
- The new capital will be channelled into technology development, partnerships with asset managers and financial institutions, and strategic team expansion.
- Also Read: ‘Resistance to digital wealth management has almost disappeared in SEA’: Bambu CEO Ned Phillips Founded by a team of former investment banking and Y Combinator-backed veterans, 1Long enables individuals to start with as little as 10,000 VND (approximately less than US$1).
UNOAsia secures US$32.1M to provide digital banking services in Philippines | e27
- UNOAsia, the company behind UNO Digital Bank in the Philippines, has raised US$32.1 million in a pre-Series B investment round comprising equity and debt.
- The investors include Gateway Partners, Creador Private Equity, and Nextinfinity Management.
- This round brings UNOAsia’s total raise to approximately US$75 million.
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