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SEA startup funding ends decade on a high, but warning signs emerge

Tech in Asia

Quest Ventures’ James Tan provided commentary to Tech in Asia’s end of the 2010s decade summary of Southeast Asia tech.

“Many startups will have enough fat to last through winter, but they might shift gears to stretch the dollar.

There’s no doubt the money will still be there for the best startups. James Tan of growth-stage fund Quest Ventures thinks that “valuations will suffer for a while but funding will still continue.”

“Investors have short-lived memories. Plus there are always new ones who don’t know the history or choose to conveniently ignore it,” he adds.

As always, startups will face a tension between assuming less funding risk, and raising a lot of money at high valuations to outgrow their competitors.”


Technology investors spurred by Vietnam’s robust growth

Nikkei Asian Review

Jeffrey Seah of Quest Ventures commented on the opportunities in Vietnam in the Nikkei Asian Review.

“Vietnam has a population of nearly 100 million people, roughly 70% of whom are under 35, and boasts an annual GDP growth rate of nearly 7%. Arguably the hottest market in Southeast Asia in 2019, Vietnam has enjoyed a surge in investors keen to ride the growth.

Vietnam’s mobile payments market is meanwhile projected to reach $70.9 billion by 2025 — a huge increase from $16 billion in 2016, according to UOB. The largely unbanked population and high mobile penetration are significant investor lures.

“Fintech is increasing productivity, while the traditional banking system is not efficient,” said Jeffrey Seah, a Quest Ventures partner. “Big corporates have not been able to develop fintech fast enough.””




求索创投(Quest Ventures)合伙人佘庭瀚受访时说,新兴市场如越南的风险创投融资继续增长,但在泰国和马来西亚,政治和经济不稳定因素冲淡了市场情绪。


余庭瀚指出,目前热门的投资趋势包括食品科技和海洋科技,求索创投于两年前开始进行投资,如今求索创投开始关注东南亚的社会效应投资(impact investing)。


Singapore International Foundation presents Russ Neu with Citizen Ambassador Award

Singapore International Foundation News

The Singapore International Foundation presented Quest Ventures’ Russ Neu with the Citizen Ambassador Award. The Citizen Ambassador Award is for programme partners and alumni who have given their time, talent or other notable contributions to support the work of the SIF.

In the citation, SIF said, “For more than a decade, Russ Neu has been giving his time and talents to the SIF through multiple programmes. He has served as an in-field volunteer in Vientiane, Laos and in Pariaman, Indonesia, respectively teaching English to senior officers of the Lao Foreign Service and sharing skills on student-centred learning with local educators. More recently, he spoke at SIF’s inaugural Young Social Entrepreneurs Overseas Workshop in Shanghai, sharing his insights and experiences as a venture capitalist to programme participants hoping to start or scale up their social businesses. With the support of the SIF, he published a book “A Whole Neu World” detailing his experiences in Laos that has inspired many other volunteers.”


Analysing Coworking: Is The Fall Of WeWork Part Of A Bigger Problem?

Vulcan Post

“James Tan, Managing Partner at Quest Ventures, shares the view that coworking is not just a fad or trend that will fizzle out despite WeWork’s current struggles.

In fact, he says the idea of “placing people from different companies to work together in the same environment is not new”.

Before WeWork, there were already companies like Regus (now IWG), founded in 1989 in Belgium, and Australian Servcorp, operating since 1978, which have both provided shared office spaces.

“What changed with new entrants such as WeWork was their self-positioning as technology startups thereby commanding tech-level type of growth and valuations,” James Tan, Managing Partner, Quest Ventures””.


SG’s Quest Ventures to invest up to $10m in Vietnam in next three years

Deal Street Asia

“It will target investments in post-seed to pre-Series B rounds with ticket sizes varying between $500,000 and $1 million.

“We have been tracking Vietnam’s digital economy evolution and the increasing number of players. The market has grown fast with dedicated support from the Vietnamese government and angel networks, as well as overseas funds who have missed out on Indonesia,” Jeffrey Seah, partner at Quest Ventures told DealStreetAsia on the sidelines of Vietnam’s Techfest2019 in Ha Long Bay.”







NUS honours 21 talented and outstanding alumni for contributions to alma mater and society

NUS News

Quest Ventures’ Goh Yiping was recognised with the Outstanding Young Alumni Award for her “achievements and outstanding contributions in their chosen fields”.

“The National University of Singapore (NUS) honoured the achievements of 21 outstanding members of its alumni community at the prestigious NUS Alumni Awards 2019. The Eminent Alumni Award was conferred on two esteemed recipients – Former Chief Justice Dr Chan Sek Keong, who is also Pro-Chancellor of NUS, and former top civil servant and former Pro-Chancellor of NUS Mr Ngiam Tong Dow.

Ten young alumni and a three-member team also received accolades at the awards ceremony this year. They were recognised with the Outstanding Young Alumni Award for their achievements and outstanding contributions to their chosen fields.”


Carousell shies away from unicorn chatter

The Business Times

“Carousell announced that it has agreed to merge with 701Search, a unit of Norwegian telco Telenor, in a deal that values the combined entity at over US$850 million. Telenor received Carousell shares in exchange for the 701Search assets, and further bought Carousell shares for US$20 million in cash…

The startup’s first backer, Quest Ventures, told BT in a statement: “We congratulate Carousell on reaching unicorn status in Singapore dollar terms. Quest remains invested in Carousell and its mission, which the founders believe is less than one per cent done. We are very proud to have provided the angel capital when Siu Rui, Marcus Tan and Lucas Ngoo started Carousell eight years ago.””


Leading Asian venture fund to invest in Kazakhstan’s startups


AzerNews, Azerbaijan’s first English language newspaper, covered the investment from QazTech Ventures into Quest Ventures.

“Kazakhstan’s QazTech Ventures JSC (QTV) is to have participation worth $10 million in Quest Ventures Asia Fund II venture fund, a representative of QazTech Ventures JSC told Trend. On October 25, 2019 QazTech Ventures JSC and Quest Ventures (Singapore’s leading venture fund) signed a memorandum for cooperation and understanding.”


Russ Neu interviewed on CNA938 for Singapore Stories series


CNA938’s Eugene Loh, as part of the Singapore Stories series, interviewed Quest Ventures’ Russ Neu on his motivation for running the impact fund and the rationale for setting up Social Collider.

“When I was in China touring the villages struck with AIDS, one particular incident struck me hard… this 18 year-old boy did not know what was “email”. It was 2014, not 2004.”


Ведущий венчурный фонд в Азии рассказал о преимуществах сотрудничества с Казахстаном

TREND News Agency

Azerbaijan’s news agency reports that Asia’s leading venture fund Quest Ventures is cooperating with Kazakhstan.

James Tan, managing partner of Quest Ventures, said, “The cooperation looks to bring about closer economic and people-to-people relations between the two growing regions of Central Asia and Southeast Asia. More importantly, we recognise the importance of capital and technology in tackling the world’s problems and are putting in place mechanisms to support startups that are looking to do so.”


Steering startups

Bangkok Post

In a wide-ranging interview, the Bangkok Post talks to Quest Ventures’ James Tan on “steering startups”.

On Singapore: “Singapore is small but we have been blessed with many opportunities and an ecosystem that has the ability to put its money where its mouth is to drive certain areas where we can see trends developing,” says Mr Tan.

On ASEAN: “On the challenge side, we know we are small so we have to look outward and the best place is our own backyard which is Asean. So we should be tapping into those [markets] and ACE wants to lay a foundation for this region to be a perfect ecosystem as a whole. We are doing that with the GIA.”

On public sector influence: Mr Tan’s preference is for the public sector not to interfere too much. Startups should be allowed to bloom and compete within the private sector, and government only needs to step in if it foresees some kind of systemic or social harm.


Қазақстан сандық қызметті экспорттауы мүмкін

Astana TV

Baiterek National Management Holding, the sovereign wealth fund of Kazakhstan, signs agreement with Singapore’s Quest Ventures to grow its digital economy.

“Қазақстандық стартаптар шетелдік венчурлық инвесторлардың қолдауына мұқтаж. Бұл туралы «QTV Sessions» форумында «Бәйтерек» ұлттық басқару холдингінің директоры Әділ Нұрғожин мәлімдеді. Ол отандық стартаптар шетелдік нарыққа шығуға қауқарсыз,-деді. Сондықтан өнертапқыштарды қолдау мақсатында әлемдік қорлармен ынтымақтастықты арттыру керектігін айтты. «Бәйтерек» ұлттық басқару холдингі “Quest Ventures” сингапурлық венчурлық қоры және Тайландтың ұлттық инновациялық агенттігімен келісім-шартқа қол қойды. Енді отандық стартаптарға Сингапур және Таиланд компаниялары қолдау көрсететін болды. Осылайша Қазақстанда сандық қызметті экспорттауға мүмкіндік туды.”


SBR Hottest Startups 2019

Singapore Business Review

Quest Ventures Russ Neu was on the panel on Singapore’s hottest startups 2019.

“Businesses that were able to crack the code and achieve billion-dollar valuations were the topic for another insightful panel session which was graced by Shavit Clein, Head of Strategy, Trax, Devina Halim, Associate, East Ventures and Russ Neu, Venture Partner, Impact, Quest Ventures.

Neu… warns against putting too much premium on lofty valuations that more often than not crumble under the scrutiny of public markets. “Increasingly, people confuse confidence with capability,” he said. “I like to see traction based on real growth you achieved and not just based on scans or data which may or may not be helpful in evaluating a company… Unfortunately, we are now driven by perception.””


Холдинг «Байтерек» помогает казахстанским стартапам выходить на рынки Сингапура и Таиланда


Baiterek National Management Holding, the sovereign wealth fund of Kazakhstan, on the importance of growing Kazakhstan and Central Asia startups.

“В рамках «QTV SESSIONS» состоялась торжественная церемония подписания меморандума о сотрудничестве между АО «QazTech Ventures» и ведущим сингапурским венчурным фондом «Quest Ventures».

В свою очередь партнер Quest Ventures Джефри Сеа поддержал своего коллегу, отметив, что создание экосистемы – обязательное условие для развития стартапов.

– Это здорово, что государство поддерживает стартапы и создает для них открытый рынок. Это важный вектор для роста экономики не только Казахстана, но и региона в целом. Создание экосистемы обязательное составляющее для движения. В целом, казахстанские стартапы могут ориентироваться не только на Азию, но и на весь мир, – подчеркнул Джефри Сеа.”


Қазақстан сандық қызметті экспорттауы мүмкін

Хабар 24

Baiterek National Management Holding, the sovereign wealth fund of Kazakhstan, on the importance of working with investors who are familiar with large markets.

“Цель подписания сегодняшних меморандумов на самом деле очень простая – поставить казахстанскую экосистему стартапов на карту мира, поскольку она у нас ещё достаточно новая, – отметил Адиль Нургожин. – Мы много работаем, и часть этой работы в том, чтобы установить эти прочные связи с более развитыми экосистемами. Почему это важно? Во-первых, в этих странах есть деньги, есть профессиональные венчурные инвесторы – только в одном Сингапуре ежегодно стартапы со всего мира финансируются на 10 миллиардов долларов. И нам тоже надо иметь возможности презентовать там свои проекты. И второе – это экспорт цифровых услуг. Наши ребята могут делать вполне успешные проекты, но рынок нашей страны слишком мал. Потому есть смысл выходить на большие рынки и зарабатывать там. Чем больше потенциальные инвесторы будут знать о нас, тем легче будет продвигать наши проекты и создавать совместные фонды.”


SG-based Quest Ventures nears first close of $50m early-stage SEA fund

Deal Street Asia

“According to one source close to the development, Quest Ventures is targeting a $25-million first close. It is understood to have garnered interest from limited partners (LP) including two sovereign wealth funds, one of them based in Singapore.

Quest Ventures first announced the launch of its $50-million early-stage Southeast Asian fund in March this year. The vehicle marks the first time the VC firm is raising capital from external LPs, having previously invested out of the personal capital of its managing partner, James Tan.

Tan is the co-founder of Nasdaq-listed Chinese e-commerce company 55tuan. After close to a decade in mainland China, Tan – a Singaporean – cashed out his stake to begin Quest Ventures in Singapore. Since 2010, Quest has added over 40 companies to its portfolio, including Carro, Carousell,, ShopBack, and Glife.”


Trang bị kỹ năng sẵn sàng cho tương lai ở học sinh

Giáo Dục Online

Quest Ventures is a launch partner of the Education 4.0 Alliance in Vietnam. Russ Neu, Venture Partner for Impact, signed the memorandum of understanding at the ceremony during the Ho Chi Minh City Innovation, Startup and Entrepreneurship Week.

“Trong khuôn khổ Tuần lễ Đổi mới sáng tạo và Khởi nghiệp TP.HCM (WHISE) lần 3 năm 2019 tổ chức mới đây đã diễn ra Hội thảo “Kỹ năng sẵn sàng cho tương lai và Liên minh Giáo dục 4.0”. Tại hội thảo cũng diễn ra lễ ký kết hợp tác giữa các thành viên trong Liên minh Giáo dục 4.0 và giữa liên minh với các tổ chức tham gia thí điểm.

Tháng 12-2019, liên minh sẽ tổ chức các chương trình đối thoại về những mục tiêu phát triển bền vững ứng dụng bằng công nghệ với sự tham gia của Quest Ventures (Quỹ đầu tư của Singapore).”


How Chinese money is driving Southeast Asia’s tech start-up scene

South China Morning Post

Quest Ventures joins Vertex Ventures, Gobi Southeast Asia and Golden Gate Ventures to provide commentary to SCMP’s look at how Chinese money is driving Southeast Asia’s tech startup scene.

“Other investors saw branching into Southeast Asian start-ups as a form of “risk mitigation”, said James Tan, managing partner of Quest Ventures.”


Entrepreneurship: Nature or Nurture?


Quest Ventures Goh Yiping shares her journey with AlumNUS.

“NUS alumni entrepreneurs share their personal motivations, tribulations and insights on navigating the start-up ecosystem.

Yiping: It’s really not as binary as whether it is nature or nurture. It is both. I am probably born to want to be an entrepreneur — having helped out at my parents’ hawker stall since I was eight, and growing on a farm set up by my grandmother, whom I look up to. I have that raw drive to succeed but I kind of never knew what to do, or where to even start. Through the NOC programme, we saw a different degree of polish when it comes to entrepreneurship. It also offered us great courses for training with the greatest minds. Being forced to come up with ideas within a short time frame also sharpened us and showed what we are made of.”


ทรู ดิจิทัล พาร์ค โชว์ศักยภาพศูนย์กลางนวัตกรรมดิจิทัล จัดงานสัมมนาเทคโนโลยีแห่งปี T.O.P. 2019

Quest Ventures James Tan, in his capacity as Deputy Chairman of the Action Community for Entrepreneurship (ACE Singapore), officially opened the True Digital Park – ACE Singapore Centre in Bangkok, Thailand, with Thanasorn Jaidee, President of TDPK.

ทรู ดิจิทัล พาร์ค โชว์ศักยภาพศูนย์กลางนวัตกรรมดิจิทัล จัดงานสัมมนาเทคโนโลยีแห่งปี T.O.P.2019 – Togetherness of Possibilities รวมพลคนในวงการเทคโนโลยีทั้งไทยและเทศ ตอกย้ำระบบนิเวศสมบูรณ์แบบครบวงจรสำหรับสตาร์ทอัพ

ดร.สมคิด จาตุศรีพิทักษ์ รองนายกรัฐมนตรี และ นายพุทธิพงษ์ ปุณณกันต์ รัฐมนตรีว่าการกระทรวงดิจิทัลเพื่อเศรษฐกิจและสังคม ร่วมงานสัมมนาเทคโนโลยีครั้งใหญ่แห่งปี T.O.P.2019 – Togetherness of Possibilities โดยมีนายศุภชัย เจียรวนนท์ ประธานคณะผู้บริหารเครือเจริญโภคภัณฑ์ และประธานกรรมการ บมจ.ทรู คอร์ปอเรชั่น ให้การต้อนรับ โดยทรู ดิจิทัล พาร์ค ศูนย์กลางนวัตกรรมดิจิทัลแห่งแรกในไทยที่ใหญ่ที่สุดในภูมิภาคเอเชียตะวันออกเฉียงใต้

T.O.P.2019 – Togetherness of Possibilities โอกาสสำคัญที่จะได้พบกับกูรูและผู้เชี่ยวชาญด้านเทคโนโลยีจากบริษัทชั้นนำและวงการสตาร์ทอัพจากทั้งในและต่างประเทศ อาทิ”


Deeptech dominates startup landscape

Singapore Business Review

Venture capitalists are looking to inject more funding into deeptech as the government strengthens its support system amidst a global tech shift.

Russ Neu, venture partner for impact at Quest Ventures, said that their firm has been tracking and investing in childtech startups, even when the vertical is below the radar of investors. In comments related to Fintech, he added, “Different VCs have different mandates so whilst there are VCs that specialise in fintech, there are certainly VCs who avoid this sector,” Neu said.


Coaching: One of the best investments you can make


Self-improvement goes hand-in-hand with feedback; that’s when working with a coach can be helpful. Coaches help to move you towards action and create a structure tailored to you. They are meant to provide honest feedback and should act as a sounding board.

Coaching in a startup is a multi-layered, cascading process that starts with the top. Founders typically seek coaching to be better leaders. Coaching is almost necessary for the survival of the startup. “Founders have a huge task of shouldering the vision of the company, every single day, regardless of the ups and downs, and more so when times are down. They often find themselves lonely in this journey but still need to muster the energy and resilience to be persistently creative and effective.” points out Goh Yiping, startup coach and partner, Quest Ventures.


ACE 5th Anniversary celebratory message

ACE Singapore

Quest Ventures James Tan, in his capacity as Deputy Chairman of the Action Community for Entrepreneurship (ACE Singapore), celebrated its 5th anniversary in a celebratory video.

“ACE has supported more than 2,000 startups through various programmes, engagements, grants and deals. By working with our key startup ecosystem stakeholders, we have together built a strong and vibrant ecosystem that help startups to flourish,” said Edmas Neo, CEO of ACE.

“Through ACEIC (ACE Internationalisation Centre), numerous local and international startups have participated in our ACE Market Access Programme. We have also gone on to the international stage through participating in overseas conferences and pavilions, and built a connected ecosystem with access to 16 cities and 25,000 startups,” said James Tan.


Hệ sinh thái startup tại Singapore tìm chất xúc tác mới ở Việt Nam


“Chiến lược tiếp cận startup khôn ngoan của Singapore là mở rộng Liên minh kết nối 10 trung tâm đổi mới sáng tạo trên toàn cầu, tìm chất xúc tác mới ở Việt Nam.

Giữa tháng 7, Enterprise Singapore ra mắt mạng lưới Liên Minh Đổi Mới Sáng Tạo Toàn Cầu Singapore tại TP.HCM. Thông qua một loạt các ký kết quan trọng giữa các đại diện tài chính (Quỹ Quest Ventures), trung tâm hỗ trợ khởi nghiệp (Sihub) của hai bên, người Singapore thể hiện mối quan tâm rất lớn đến thị trường khởi nghiệp Việt Nam.”


BAZAAR’S 2019 Power List: Goh Yiping

Harper’s BAZAAR Singapore

“Meet BAZAAR’s league of extraordinary women. Singapore visionaries under 40, they are paving the way in the tech and digital spheres and proving that the future is not only female, the future is now.

Redefining venture capitalism with her determination, Goh shakes up the male-dominated ivory towers of private equity to transform struggling digital start-ups into viable business opportunities through sheer persistence and hard work. Humorous and self-aware, Goh describes how she’s evolved from a trend-spotter into someone more interested in crafting a legacy of impact.”


Singapore mở rộng Liên minh Đổi mới Sáng tạo Toàn cầu tại TPHCM

Saigon Online

“Enterprise Singapore cùng với Trung tâm Sáng kiến Hỗ trợ Đổi mới Sáng tạo và Khởi nghiệp (Saigon Innovation Hub2 – SIHUB) trực thuộc Sở KH-CN TPHCN và Quỹ Quest Ventures 3 đã ký kết một Biên bản Ghi nhớ hợp tác nhằm thúc đẩy hợp tác giữa các start-ups và các doanh nghiệp vừa và nhỏ (SME) giữa Singapore và Việt Nam. Với Biên bản Ghi nhớ hợp tác này, ba cơ quan, tổ chức sẽ phối hợp tổ chức các chương trình nhằm giới thiệu các start-ups Singapore tới hệ sinh thái khởi nghiệp tại TPHCM và kết nối các start-ups này tới các đối tác, nhà đầu tư và khách hàng tại Việt Nam.”


Singapore start-ups set for Ho Chi Minh City

The ASEAN Post

“Ho Chi Minh City is the third ASEAN city to join the GIA network after Jakarta and Bangkok. The eight other cities in the network are Beijing, Shanghai and Suzhou (China), Berlin and Munich (Germany), San Francisco (United States), Tokyo (Japan) and Paris (France).

As part of the MoU signed between Enterprise Singapore, Singaporean venture fund Quest Ventures and the Vietnam government-linked Saigon Innovation Hub, the three partners will organise curated programmes to introduce Singapore start-ups to the innovation ecosystem in Ho Chi Minh City and connect them to partners, investors and customers in Vietnam. This will help Singapore start-ups set up, test and commercialise their solutions; form business partnerships in HCMC and Vietnam; and support Vietnamese start-ups to set up in Singapore.”


Liên minh Đổi mới Sáng tạo Toàn cầu mở ra nhiều cơ hội cho startup và doanh nghiệp Việt Nam

TechTimes Vietnam

“Liên minh Đổi mới Sáng tạo Toàn cầu mở ra nhiều cơ hội cho startup và doanh nghiệp Việt Nam

Enterprise Singapore (cơ quan chính phủ trực thuộc Bộ Thương Mại và Công Nghiệp Singapore có vai trò hỗ trợ sự phát triển của các doanh nghiệp Singapore) cùng với Trung Tâm Sáng Kiến Hỗ Trợ Đổi Mới Sáng Tạo và Khởi Nghiệp (Saigon Innovation Hub – SIHUB) trực thuộc Sở Khoa học và Công nghệ TP. Hồ Chí Minh và Quỹ Quest Ventures đã ký kết một Biên Bản Ghi Nhớ Hợp Tác nhằm thúc đẩy hợp tác giữa các startup và các doanh nghiệp vừa và nhỏ (SME) giữa Singapore và Việt Nam.

Phát biểu tại buổi lễ ra mắt, ông Huỳnh Kim Tước, Giám Đốc Điều Hành SIHUB nhấn mạnh “Sự hợp tác giữa Enterprise Singapore, SIHUB và Quest Ventures là con đường tối ưu hoá nguồn lực giữa hai quốc gia nhằm tạo ra sản phẩm, dịch vụ tham gia thị trường toàn cầu”.” More

TP HCM gia nhập mạng lưới khởi nghiệp đổi mới sáng tạo toàn cầu


“Lễ ký kết ghi nhớ hợp tác giữa Saigon Innovation Hub (SIHUB) và Enterprise Singapore – Cơ quan bảo vệ phát triển doanh nghiệp trực thuộc Bộ Thương mại và Công nghiệp Singapore diễn ra hôm qua (18/7).

Đại diện từ Singapore công bố mở rộng mạng lưới Liên minh Đổi mới sáng tạo toàn cầu (GIA) sang TP HCM. Thông qua quỹ đầu tư mạo hiểm Quest Ventures có trụ sở tại Singapore, Enterprise Singapore và SIHUB sẽ tăng cường hợp tác giữa startup của Singapore và Việt Nam.”


Singapore and Vietnam to collaborate to boost technology start ups

OpenGov Asia

“Enterprise Singapore announced the expansion of the Global Innovation Alliance (GIA) network to Ho Chi Minh City (HCMC) yesterday, helping Singapore technology startups move into the emerging innovation scene in Vietnam, boosting startup collaborations between Singapore and Vietnam, and creating more internship opportunities for Singapore students in startups and innovative companies in Vietnam.

Enterprise Singapore, Quest Ventures and Saigon Innovation Hub (SIHUB) signed a Memorandum of Understanding (MOU) to boost collaborations between Singapore startups and small and medium sized enterprises (SMEs), and their counterparts in Vietnam. Under the MOU, the three partners will organise curated programmes to introduce Singapore startups to the innovation ecosystem in HCMC, and connect them to partners, investors and customers in Vietnam.

This will help Singapore startups set up, test-bed and commercialise their solutions, as well as form business partnerships in HCMC and Vietnam. It will also support Vietnamese startups to set up in Singapore.”


Ho Chi Minh City joins Singapore’s network of innovation hubs

The Business Times

“STARTUPS in Singapore hoping to tap into Vietnam’s emerging innovation scene can now get a leg-up with the expansion of the Global Innovation Alliance (GIA) to Ho Chi Minh City. The GIA is a network of local and overseas partners in major innovation hubs.

Besides boosting startup collaborations between Singapore and Vietnam, the addition of Ho Chi Minh City to the existing network of 11 cities will create more internship opportunities for Singapore students in startups and innovative companies in Vietnam, said Enterprise Singapore on Thursday.

Enterprise Singapore, Singapore-based venture capital firm Quest Ventures and Vietnam government-backed agency, Saigon Innovation Hub (SIHUB), will organise curated programmes to connect Singapore startups to partners, investors and customers in Vietnam.”


企发局扩大计划 助本地企业进军越南

Lianhe Zaobao

新加坡企业发展局(ESG)把全球创新联盟(Global Innovation Alliance)网络拓展至越南,多达10家本地企业接下来能更容易与快速地进军越南市场。


企发局会与求索创投(Quest Ventures)和胡志明市创新中心(SIHUB)签署备忘录,让两地企业能进军彼此的市场。



TP.HCM gia nhập Liên minh đổi mới sáng tạo toàn cầu

Báo Đầu tư điện tử

TP.HCM gia nhập Liên minh đổi mới sáng tạo toàn cầu

Enterprise Singapore – cơ quan chính phủ trực thuộc Bộ Thương mại và Công nghiệp Singapore vừa chính thức mở rộng Liên minh đổi mới sáng tạo toàn cầu (Global Innovation Alliance- GIA) tại TP.HCM. Liên minh này nhằm kết nối các start-up công nghệ của Singapore đến Việt Nam, cũng như tạo ra nhiều sự trao đổi ở cấp độ sinh viên, gồm các cơ hội thực tập cho các sinh viên từ Singapore tại các start-up, công ty tại Việt Nam.

Cụ thể, Enterprise Singapore cùng với Trung tâm sáng kiến Hỗ trợ đổi mới sáng tạo và khởi nghiệp (Saigon Innovation Hub – SIHUB) thuộc Sở Khoa học và Công nghệ TP.HCM và Quỹ Quest Ventures vừa ký kết một Biên bản ghi nhớ hợp tác nhằm thúc đẩy hợp tác giữa các start-up cùng doanh nghiệp vừa và nhỏ (SMEs) giữa Singapore và Việt Nam.”


RISE 2019 のスタートアップコンペティション「PITCH」の優勝は、海運コンテナ貨物管理を最適化する「Haulio」が獲得 #RISEConf

The Bridge

Haulio wins RISE 2019 startup competition.

“Haulio は、この海運会社と牽引業者をマッチングするプラットフォームで、コンテナの牽引需要に対して、そのスケジュールでで手の空いている牽引業者をアサインすることができる。CEO の実家が30年間にわたり物流事業を営んできたこともあり、この業界のニッチな需要に精通していることがチームの強み。Haulio のサービスを開始した2017年からの2年間で、シンガポールのコンテナ牽引市場の80%を獲得した。

これまでに15万TEU(TEU はコンテナ扱量を扱う単位で、1TEUが20フィートコンテナ換算を表す)を取り扱っている。シードラウンドで、シンガポールの港湾会社 PSA International の CVC である PSA Unboxed、500 Startups、Quest Ventures、運送会社 ComfortDelGro などから80万3,000米ドルを資金調達済。世界展開に向け提携できる企業を求めている。”


Meet The VCs Series – Quest Ventures

The Quasiinvestor

Attended an event hosted by Found8, as part of its fireside chat series with leading VCs in Singapore. Founded in 2011 by James Tan and Yunming Wang in Beijing, Quest Ventures is arguably a well-respected and known seed/series-A VC in Singapore that focuses on technology investments in the Southeast Asia region.

Some of the key questions that were aimed to be covered were:

  • What Quest looks for when making an investment into a startup
  • Investment thesis of your new fund and how that differs from the previous fund
  • A startup’s journey from early-stage to growth stage in Singapore (drawing on James’s and Quest’s long-term experience in growing the startups in our country)
  • Lessons learned from startups that have failed
  • Tips and tricks for the startups looking to raise from Quest and more


Xfers To Integrate Blockchain, Smart Contracts


“Xfers, a Singapore-based payment processing gateway offering credit card processing and Internet banking transfers, will leverage Zilliqa’s smart contract functionalities to bring “new innovations” to its Xfers’ suite of enterprise solutions, which include support for payments, disbursements, regulatory compliance and a built-in digital wallet.

Xfers is a graduate of Y Combinator’s summer 2015 class and counts amongst its backers Challenger, Quest Ventures, 500 Startups, Golden Gate Ventures, as well as angel investors Eduardo Saverin.”


Arabnet Beirut 10th edition


“ArabNet Beirut X wrapped up in success on June 13. The 10th edition brought together 4000+ attendees and 250+ speakers from across Lebanon and the world.

Quest Ventures participated in “a panel titled “International Perspective: Global Trends Shaping the Tech Sector” in which international investors gathered on stage to share their insights on what’s hype and what’s here to stay, the hottest startups they’re investing in today, and the trends they expect to see in the near future.

The speakers included James Tan, Managing Partner, Quest Ventures; Richard Harris, Partner and Head of EMEA, G Squared; Tugce Ergul, Partner, Angel Labs; Ihor Ovcharenko, Founder & CEO, Scal8R; and Kartik Varma, Managing Director, Techstars.”


Vietnamese startups connect with peers in world

Saigon Online

“The program ‘Runway to the World’ is designed to connect local and international startups expand their market globally and introduce Vietnamese startups to foreign countries. Right after the launch of the program, it has produced beneficial effect with more and more arrival of international startups to the S-shaped country to seek opportunities.

In the first year of the program, in November, 2018, it welcomed Korean Shinhan Future’s Lab, Malaysian Global Innovation & Creativity Center (MaGIC) and Singaporean Quest Ventures. SIHUB also received proposals from startups in Thailand, Finland, Australia, the US and Switzerland.”


Startup Hàn Quốc đem nhiều giải pháp kinh doanh đến Việt Nam

Tuổi Trẻ Online

“Ông Huỳnh Kim Tước – giám đốc điều hành SIhub, đơn vị trực thuộc Sở Khoa học và công nghệ TP.HCM – cho rằng: “Runway To The World đóng vai trò như một điểm kích hoạt, giúp hệ sinh thái khởi nghiệp bộc lộ những ưu, nhược điểm, từ đó rút ra bài học kinh nghiệm và điều chỉnh phù hợp cho cả hệ sinh thái”.

Tính đến nay, chương trình của Sihub đã có các đối tác lớn như Shinhan Future’s Lab (Hàn Quốc) – trực thuộc Ngân hàng Shinhan,Trung tâm phát triển khởi nghiệp và đổi mới sáng tạo toàn cầu Magic (Malaysia), công ty đầu tư mạo hiểm Quest Ventures (Singapore).”


ArabNet Beirut 2019 To Celebrate 10 Years Of Tech And Innovation In June

Entrepreneur Middle East

Entrepreneurs, it’s time to step up. ArabNet Beirut 2019, one of the most prominent conferences focused on tech, business and innovation in the MENA region, is back to gather entrepreneurs, investors, industry leaders and government officials. Now on its 10th consecutive year, held under the Patronage of His Excellency President of the Republic of Lebanon General Michel Aoun, this year’s edition of ArabNet Beirut will take place on June 12-13, at the Seaside Arena, hosting 3,000+ attendees and more than 250 regional and international experts and speakers.

Its lineup of speakers is worth a look too: Richard Harris, Partner and Head of EMEA, G Squared; James Tan, Managing Partner, Quest Ventures; Scott Cohen, Chief Innovation Officer, Warner Music Group; Lars Silberbauer, Head of MTV Digital Studios, Senior Vice President at Viacom; Viola Llewellyn, Co-founder & President, Ovamba; and Urszula Bieganska, Head of Marketing – Middle East Africa, LEGO Group, among others.”


Garage takes BT’s brand of hard-nosed journalism to startups

The Business Times

The Business Times is revving up its startup coverage with Garage, a portal that provides news and analysis about the region’s booming startup ecosystem.

Located at, the new vertical brings BT’s speciality – the investors’ perspective – to coverage of startup news and issues aimed at existing readers and new ones interested in the startup space.

The product has already caught the attention of big names in the startup ecosystem.

James Tan, managing partner at Quest Ventures, said: “Garage by The Business Times looks set to be the authoritative voice on the startups scene in Singapore. Whether venture or impact investments, large exits or angel cheques, its in-depth coverage of the stories that matter is why we look forward to the column every day.”


Unicorns deploy funding into corporate venture funds

Singapore Business Review

“For 2019, the SVCA said that regulatory changes, such as recent extensions for tax incentives and new investment flexibility for structuring of funds (for instance, the new Variable Capital Company (VCC) legal structure) may further encourage investment into Southeast Asia and for VC fund managers to operate out of Singapore.

However, Khor Qianyi, Senior Analyst and Head of ESG at Quest Ventures, warned that uncertainty around the new regulations, specifically the VCC, which was meant to increase VC activity in Singapore, poses a challenge for VC firms along with the lack of later-stage funding from Series B onwards.

“The industry, including technology media, needs to move away from associating large deals with large market implications,” according to Qianyi. “Whilst small deals do not sound exciting, it is important to track them when they are still starting up. As Jack Ma said, ‘Small guys become big guys.’”


创投领域少数民族 求索创投吴谊平




她说:“创投领域应该有更多女性,她们可提供不同的视野和看法。” 她指出,女性对关乎女性的课题和领域有更深刻的理解,她们也往往能设身处地去思考并聆听。

求索创投所投资的公司中,37%拥有至少一名女性创办人,例如Style Theory、42Race、Telepod、 Watchoverme和Shopback等。


*SCAPE’s HubQuarters Fellowship to turn ideas into next great startup

The Independent

Quest Ventures Senior Analyst and Head of ESG Khor Qianyi was a member of the jury at the Demo Day.

“At the inaugural *SCAPE HubQuarters Fellowship Demo Day, young companies spent the evening pitching to a host of judges, mentors and audience members to further validate whether or not their idea can grow into the next sexy startup story.

A major reason why these companies were in their infancy has to do with the mis-sion of *SCAPE, which is a platform designed to empower people in Singapore’s un-der the age of 35. For a lot of participants, *SCAPE became the necessary support group to give them confidence to chase their startup dreams.

The *SCAPE event was the conclusion of a 6-month-long fellowship programme that hosted 21 qualifying teams across 22 sessions to help them get their business off the ground. 10 of them were pitching at the Demo Day.”


Glife raises seed capital to take farm food direct to forks

The Business Times

Glife received pre-seed funding from Quest Ventures, and rolled out a soft-launch of its platform’s farm-to-table operations in Singapore in May 2018. Since its inception, the portal has provided more than 150 restaurants with direct access to quality fresh produce from farmers within their ecosystem. “We actually have a better cost structure and are being more price competitive to get customers in,” Mr Chou said.




自2010年以来,风险投资公司求索创投 Quest Ventures 一直致力于投资东南亚地区的电子商务和互联网经济初创企业,其参投的知名企业包括“东南亚闲鱼”二手拍卖网站 Carousell、新加坡二手车交易平台 Carro 和东南亚电商返现平台 ShopBack。

过去很长一段时间里,Quest 都不需要对外募资。Quest 是幸运的,因为它有一个教父——James Tan。在中国呆了近十年后,James Tan 出售了他在电子商务公司窝窝团的股份,收拾行李,回到了祖国新加坡。

Tan 的得意之作便是 Quest Ventures,如今他在该公司担任管理合伙人。一直以来,出售窝窝团股份的收益让 Quest 得以轻松运营。但 Quest 还有更多野心,需要更多的资本。Quest 拟设立一只5000万至1亿美元的基金,用于投资东南亚初期阶段的数字经济初创企业。


Quest Ventures 首次对外募资,其创始人、窝窝团联创 James Tan 认为东南亚电商和农业科技仍大有可为


自2010年以来,风险投资公司求索创投 Quest Ventures 一直致力于投资东南亚地区的电子商务和互联网经济初创企业,其参投的知名企业包括“东南亚闲鱼”二手拍卖网站 Carousell、新加坡二手车交易平台 Carro 和东南亚电商返现平台 ShopBack。

过去很长一段时间里,Quest 都不需要对外募资。Quest 是幸运的,因为它有一个教父——James Tan。在中国呆了近十年后,James Tan 出售了他在电子商务公司窝窝团的股份,收拾行李,回到了祖国新加坡。“我是新加坡人,所以我当时想回新加坡干一番事业……那个时候,500 Startups 这类公司都在做样的事情。我投资的第一家公司是 Burpple (一家餐饮点评网站),从此之后便一发不可收拾。”Tan 说道。

Tan 的得意之作便是 Quest Ventures,如今他在该公司担任管理合伙人。一直以来,出售窝窝团股份的收益让 Quest 得以轻松运营。但 Quest 还有更多野心,需要更多的资本。Quest 拟设立一只5000万至1亿美元的基金,用于投资东南亚初期阶段的数字经济初创企业。Quest 计划使用该基金在10年内投资约100家公司,每笔投资规模在50万至100万美元之间,同时也会覆盖到潜在的后续投资。

农业科技是 Tan 比较感兴趣的众多领域之一。“之所感兴趣,就是因为新加坡的农业科技不怎么出名。”Tan 解释说,“我相信这个领域还有很大的发展空间,而且每个东南亚国家都要靠农业吃饭,所以做这个领域也很有意义。”Tan 补充说,食品和农业供应链中还存在一些可以填补的行业缺口。

对于“数字经济”已是红海市场,风投公司没必要参与其中的这种观点,Tan 也提出了质疑。

Tan 说,“电商企业还有很多需要解决的问题,包括支付问题、物流不畅、最后一公里运输的效率低、欺诈问题以及推荐引擎的进一步优化等。所有这些都可以被视为数字经济。”

他补充称,Quest 不打算在近期退出其投资的公司。Quest Ventures 已投资了40多家公司,包括 Eatsy、Ethis、42Race、Glife、、SGAG、Spiking、Style Theory、Vulcan Post 和 Xfers。




自2010年以来,风险投资公司求索创投 Quest Ventures 一直致力于投资东南亚地区的电子商务和互联网经济初创企业,其参投的知名企业包括“东南亚闲鱼”二手拍卖网站 Carousell、新加坡二手车交易平台 Carro 和东南亚电商返现平台 ShopBack。

过去很长一段时间里,Quest 都不需要对外募资。Quest 是幸运的,因为它有一个教父——James Tan。在中国呆了近十年后,James Tan 出售了他在电子商务公司窝窝团的股份,收拾行李,回到了祖国新加坡。“我是新加坡人,所以我当时想回新加坡干一番事业……那个时候,500 Startups 这类公司都在做样的事情。我投资的第一家公司是 Burpple (一家餐饮点评网站),从此之后便一发不可收拾。”Tan 说道。

Tan 的得意之作便是 Quest Ventures,如今他在该公司担任管理合伙人。一直以来,出售窝窝团股份的收益让 Quest 得以轻松运营。但 Quest 还有更多野心,需要更多的资本。Quest 拟设立一只5000万至1亿美元的基金,用于投资东南亚初期阶段的数字经济初创企业。Quest 计划使用该基金在10年内投资约100家公司,每笔投资规模在50万至100万美元之间,同时也会覆盖到潜在的后续投资。

农业科技是 Tan 比较感兴趣的众多领域之一。“之所感兴趣,就是因为新加坡的农业科技不怎么出名。”Tan 解释说,“我相信这个领域还有很大的发展空间,而且每个东南亚国家都要靠农业吃饭,所以做这个领域也很有意义。”Tan 补充说,食品和农业供应链中还存在一些可以填补的行业缺口。

对于“数字经济”已是红海市场,风投公司没必要参与其中的这种观点,Tan 也提出了质疑。

Tan 说,“电商企业还有很多需要解决的问题,包括支付问题、物流不畅、最后一公里运输的效率低、欺诈问题以及推荐引擎的进一步优化等。所有这些都可以被视为数字经济。”

他补充称,Quest 不打算在近期退出其投资的公司。Quest Ventures 已投资了40多家公司,包括 Eatsy、Ethis、42Race、Glife、、SGAG、Spiking、Style Theory、Vulcan Post 和 Xfers。


Islamic digital economy a “most surprisingly popular tech vertical”


“One of the sectors that we have invested in and are tracking closely is the broad Islamic digital economy, which encompasses everything that we have in the ‘general’ digital economy but with an adherence to Islamic principles.”

(Quest Ventures’ James) Tan is specifically interested in how these rules apply to lending.

According to a 2017 report from IMF, there is a funding gap of USD 80 billion for small and medium enterprises in Indonesia. While SMEs make up more than 95% of the number of businesses in Indonesia, less than 15% of them have access to bank financing. This lack of access is often the result of a lack of fixed asset as collateral, a lack of operating history, poor operational efficiency, or poor financial reporting.

With the entry of multiple international players in P2P financing and rampant unethical business practices, Tan says, “A deeper adherence to Islamic principles will be helpful in weeding out unsavoury players in the world’s largest moderate Islamic market.” More

Bike-sharing firms on “sad retreat”

Singapore Business Review

… Financial difficulties in its home market may have prompted Mobike to rethink its global ambitions, said Yunming Wang, venture partner at Quest Ventures. An earlier report from TechCrunch revealed that Mobike reportedly laid off its entire Asia-Pacific operations team as part of its efforts to trim down its regional presence and focus on its Chinese operations.

“The Singapore bike-sharing scene is now dead. Where there was untidiness on the streets, there was however last-mile convenience. With the industry all but dead, the streets are now tidy but the convenience is gone,” said Wang, referring to the indiscriminate parking of shared bikes in Singapore which could be traced as the source of Ofo’s woes.

“For an industry that was widely hailed as one of modern China’s four great inventions – the others being high-speed rail, Alipay and e-commerce – this is a sad retreat and has important lessons for startups to learn,” he added.


Food ripe for disruption in Asia

Deal Street Asia

According to James Tan, managing partner of Quest Ventures, there are gaping holes in the food supply chain ripe for venture investments to solve and make more efficient.

Tan said: “After planting, where do they go? Do farmers plant at volume or not? We need to get the supply chain ready first…”


5 Singapore VCs Who Are Supporting The AI Startup Community

Analytics India Magazine

Quest Ventures made the short list of VCs that are investing into artificial intelligence.

“Based in Singapore and China, Quest Ventures is a leading venture fund for companies in the tech sector, especially those promising high scalability. It has been focussing on an overreaching digital commerce strategy across industries such as e-commerce, entertainment, logistics and more, using artificial intelligence. It has invested in startups such as, which is a platform dedicated to making AI research more efficient, reproducible and accessible.”


A drink with… Goh Yiping, Partner at Quest Ventures

Singapore Tatler

Drawing on her entrepreneurial experience, the venture capitalist is helping to groom the next generation of start-up leaders.

Goh Yiping’s mind is constantly running. Her thoughts are mostly about new business opportunities or ways to help build start-ups. “I cannot sit still, even when I’m on holiday,” says the 37-year-old entrepreneur, who has founded several technology-driven companies.

While still running All Deals Asia and taking on the development of Lippo’s e-commerce business, Matahari Mall, the Generation T 2018 honouree decided to become a venture capitalist. “I enjoyed being a founder and being at the front line of running a business, but I started to wonder how I can make a greater impact and harness my connections and experience to help others build their businesses.”


Still plenty of room to play in SEA’s digital economy, says Quest Ventures’ Tan

Deal Street Asia

Since 2010, Singapore-based venture capital firm Quest Ventures has been discreetly investing in e-commerce and internet economy startups in the region. Its portfolio today includes prominent names such as Carousell, Carro and ShopBack.

Through all this time, it has not needed to fundraise – until now.

Quest is lucky. It has a godfather – James Tan.

But Quest is nurturing big ambitions, requiring bigger capital.

The VC is now targeting an open fund of $50-100 million to invest in early-stage digital economy startups in Southeast Asia. It plans to invest in about 100 companies across the fund’s 10-year tenure, with ticket sizes between $500,000 and $1 million, and scope for potential follow-on investments.


Step into your power: An open letter to the next female startup founder

The Business Times

In an op-ed for The Business Times to celebrate International Women’s Day, 42Race’s cofounder and CEO Zhou Mi gave praise to Quest Ventures.

“I am first and foremost in the role of a co-founder, the leader of my team. My responsibility is to provide a better future for those that follow me. There were many times where I doubted my capability and direction. Those doubts however, stemmed from my limited knowledge and understanding of business strategies and industry. I am blessed to have amazing mentors (a shout out to James Tan from Quest Ventures) and fellow co-founders from Oddle, Carousell and Xfers where I can share my problems with and whom I can learn from. I do not feel limited to reach out to them because of my gender.”


How Goh Yiping is Levelling the Playing Field in Venture Capital

High Net Worth

Goh Yiping doesn’t play by the rules.

Starting in 2004, the serial entrepreneur founded her first company, World Indigo, at the age of 22 while juggling academic responsibilities. In spite of her inexperience as a business neophyte, her inaugural enterprise raised a laudable $350,000 in seed funding, and won the National Startup@Singapore Business Plan Competition.

Bitten by the start-up bug, she went on to establish AllDealsAsia at 28, which grew to become the top deal aggregator in the region. Displaying acute foresight and a forward-thinking spirit, she even introduced online customer service to the platform at a time when websites were still slow to adopt live chats. Fast forward four years, AllDealsAsia was acquired by Lippo Group, which kick-started her next venture, Matahari Mall – an e-commerce site that would rise to the top as a multi-million dollar business.

In 2016, the real estate graduate turned e-commerce doyenne switched gears and joined Quest Ventures as a venture partner.


Quest Ventures raising two new funds totalling up to US$120m

The Business Times

The Business Times of Singapore took a deeper look at the latest funds from Quest Ventures.

“Venture capital firm Quest Ventures is raising two funds – an open fund of US$50 million to US$100 million, and an impact fund of up to US$20 million – The Business Times has learnt.

Quest, a seed stage and Series A investor, is known for cutting first cheques for Carousell, and Shopback. This is the first time that the firm is raising capital from limited partners (LPs).

Mr Tan believes the time is right to launch the two funds because the right people are in place. Quest recently appointed serial entrepreneur Goh Yiping and industry veteran Jeffrey Seah as partners. They were previously venture partners since 2016 and 2017, respectively.

The primary markets that Quest is targeting are Singapore, Malaysia, Indonesia and Vietnam, while the secondary markets are Cambodia, Laos, Myanmar, Thailand and the Philippines.


Quest Ventures launches $50m early-stage SEA fund, promotes two to partners

DealStreetAsia, e27, Tech In Asia, KrAsia, Yahoo News, and more

Quest Ventures is launching a $50-million fund targeting early-stage, digital commerce startups in Southeast Asia. The Singapore-based venture capital has also named two new partners – Goh Yiping and Jeffrey Seah – who have been venture partners with the firm since 2016 and 2017 respectively.

Goh is the former CEO and co-founder of All Deals Asia. She was also the chief product officer and co-founder of, an Indonesian fashion e-commerce site backed by Lippo Group. The firm commented that Goh’s appointment is fresh air in the industry where “female representation at investment funds is still sorely lacking”.

Seah was Southeast Asia CEO at Starcom Mediavest Group (SMG), and former CEO of Mindshare where he oversaw the Singapore, Malaysia and Indonesian markets. “Quest Ventures has an impressive track record in identifying startups that have scaled extensively in Southeast Asia across numerous verticals. I look forward to bring my experience in accelerating ideas with corporations to Quest Ventures,” said Seah.


Quest Ventures shares playbook on implementing ESG

Money FM 89.3

Money FM 89.3 interviews Quest Ventures to find out what our Environmental, Social and Governance focus means.

Senior analyst and Head of ESG Khor Qianyi touched on our approach which includes discovery, environment scanning, and implementation. With the broad range of focus areas defined by the United Nations’ Sustainable Development Goals, Quest Ventures’ work focuses on the base of the pyramid and the emerging middle class in Southeast Asia, among others.


Age is no issue when raising funding from Quest Ventures

The New Paper

Haikini’s founder and CEO Beckie Liu was interviewed by The New Paper on her journey to create functional, stylish and affordable surf swimwear.

“However, being young meant that one big hurdle was funding.

While she was able to persuade her mother to fund some prototypes in the early days of the brand, she was also able to secure venture capital in November last year.

“Quest Ventures invests in early stage start-ups – I was approached by a friend who was working there. They encouraged me to pitch for funding.”

The process helped her overcome two hurdles. Funding and her lack of self-confidence. While Miss Liu was nervous about presenting the business to an investor, she found the strength to overcome it.”


Quest Ventures help social organisations create impact

The Business Times

Quest Ventures senior analyst Khor Qianyi said: “There can be a very nice blend of impact investing when it comes to these few things. It can solve not only the capital problem but fund companies and continuously do good work and ensure that they are financially sustainable.”

ESG scores are tools for sustainable investing and the approach looks at the environmental, social or governance risks that can potentially limit the investment returns when it comes to committing the initial outlay. With the ESG approach, Quest Ventures aims to support passionate founders in solving social issues, not only with capital but with their network and resources – such as mentorships and partnerships – which can help them scale their impact.


Architecture in religion – towards eco-friendly, socio-economic mosques

Rushdi Siddiqui, mentor at Quest Ventures, writes on the eco-friendly socio-economic Mosque at – The Global Muslim ECommunity.

“The Mosque is the epicenter of the community and an important learning place. To amplify the environmental stewardship responsibilities, there is no better place to teach than by way of an example of an eco-friendly Mosque.

Thus, the time is now to build, convert, and/or upgrade within the spirit of Quba Mosque. A solid foundation built on not just environmental impact statement, but, more importantly, on operating environmental considerations filled with learnings, activities, discipline, self-sufficiencies, and connected to youth by way of technology and resulting socio-economic activities.”


Eatsy raises new funding

Deal Street Asia

Eatsy, a food ordering and payment mobile app, on Tuesday announced that it has raised $550,000 in a seed funding round led by early-stage venture capital firm East Ventures.

The startup has raised more than $1 million in funding from investors including East Ventures, Quest Ventures, Wee Teng Wen (Lo&Behold) and the three co-founders of RedMart.

“With the access to new capital, we look forward to further development in technology, product expansion, and acquisition of new talents in 2019. Furthermore, Eatsy plans to cement its position as a leader in the mobile order-ahead and pick-up space in Singapore” said Eatsy co-founder and CEO Shaun Heng.


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