2022

Marketing Interactive

Vietnamese OTT platform VieON has appointed Joe Nguyen (pictured) as its managing director. In his new role, he will help to build VieON into a stronger OTT player by building its SVOD subscriber base and its growing AVOD advertising business, alongside a large team.

In a conversation with MARKETING-INTERACTIVE, Nguyen said that he decided to take on this role as he wanted to be in the middle of the growing OTT industry as the industry is a booming one. A recent study titled “The Future of TV 2022” by The Trade Desk found that OTT consumption is up 22% YoY in Southeast Asia.

Along with the lure of working in a growing industry, Nguyen added that he has always had plans to eventually live in Vietnam.

In addition to AVIA, Nguyen is a mentor and advisor to Quest Ventures and Trustworthy Accountability Group respectively. According to his LinkedIn, he was also a board member at the Mobile Marketing Association, APAC and eMarketingEye, a digital marketing agency based in Sri Lanka.

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FINSMES

Fairmart, a Singapore-based platform that helps SME retailers to automatically digitise their products so shoppers can find them online, raised US$1.5M in Seed funding.

The round was led by Quest Ventures and Entrepreneur First, with participation from SOSV, Vectr Ventures and Hustle Fund.

The company intends to use the funds to expand operations and its business reach.

Led by CEO Jan Gasparic, Fairmart supports the digital transformation of minimarts, grocery and specialty stores in Singapore by automating inventory and omni-channel engagement. Store owners pay a monthly subscription so that whenever they scan a product using Fairmart’s smart scanner, it adds that product to the store’s Fairmart page, along with Google and Facebook. Shoppers searching for products can quickly see what’s available and either reserve for pick up or order directly.

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TechNode Global

The Singapore Centre for Social Enterprise raiSE on Wednesday unveiled initiatives to catalyse financing, capabilities, and talent to scale up public-private synergies in Singapore’s social ecosystem.

As financing to drive social impact becomes an increasingly pressing concern, raiSE has connected stakeholders from Singapore’s public and private sectors alike to collaborate on a new pay-for-success social impact bond (SIB), raiSE said in a statement.

In addition, to establish stronger capabilities within Singapore’s social enterprise ecosystem, raiSE has partnered with venture capital firm Quest Ventures to launch Asia’s first venture capital-backed, sustainable impact accelerator programme targeted at socially impactful enterprises.

Slated to run from June to August 2022, the Sustainable Impact Accelerator combines the expertise of raiSE and Quest Ventures to support socially impactful enterprises with high potential in scaling up their impact. They should have proven revenues, an enthusiastic user base, and clear intent or track record to integrate human-centred social impact, while also demonstrating potential for double-digit year-on-year growth within the next five years.

Start-ups will receive funding and capability support to drive their next stage of growth, and gain exposure to investors across key cities in Asia as they work towards raising an institutional investment round in the next 12 months.

Under the programme, eligible start-ups and businesses will undergo a unique curriculum designed by Quest Ventures and raiSE around achieving real-world outcomes and tangible impact. Participants will also gain access to both Quest Ventures’ and raiSE’s diverse network of mentors, entrepreneurs-in-residence, and founders.

Together, these resources build on existing seed and early-stage grants provided by raiSE and aim to further support social enterprises on their journey towards developing a sustainable and impactful business model so that they are in a good position to raise subsequent funding.

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e27

Earlier this week, Quest Ventures announced the promotion of two female investors in its team. Michelle Ng, with her promotion to Head of ESG and concurrently Director of Sustainable Impact Accelerator, was named in this announcement alongside Gwen Sim, who was promoted to Associate.

With this promotion, Ng is going to lead the firm’s focus on ESG – a vertical that is becoming understandably popular due to its urgency and ability to create a positive impact in the various aspects of the public’s life.

Quest Ventures takes pride in being one of the earliest in the Southeast Asian (SEA) tech startup ecosystem to recognise the importance of ESG investing back in 2018. As time goes by and investment in the vertical becomes increasingly more important, the firm aims to double down its efforts.

With the announcement of her promotion, Ng states: “Total ESG assets in Asia have grown from a mere US$801 million in 2019 to US$7.9 billion in 2020, and global ESG assets are on track to exceed US$53 trillion by 2025. Investors have realised that people and social impact form the basis of ESG investing, and will no longer be considered in isolation from environmental and governance aspects.”

She continues, “Concerted efforts from the private and public sectors will hasten the integration of the social, technology and finance sectors in order to help socially-impactful enterprises scale further and faster.”

Ng further explains to e27 about the opportunities that the firm intends to pursue and why it requires some significant changes in its approach.

“ESG opportunities identified include the shift to Social (S) in ESG. The human-centricity of ESG investing will become more apparent and urgent,” she says.

She elaborated that with its focus on solutions addressing human-centred problems, the team will invest in and accelerate the growth of socially-impactful enterprises. To realise this mission, Quest Ventures has prepared several initiatives including the Sustainable Impact Accelerator, held in collaboration with raiSE (Singapore Centre For Social Enterprise).

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CNA

Singapore’s Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam announced the launch of the Sustainable Impact Accelerator, an initiative by raiSE and Quest Ventures to build capabilities for social enterprises.

“raiSE has partnered with Quest Ventures, which is an established VC player in Singapore. raiSE provides the seed and early-stage grants, and Quest puts the enterprises on its accelerator programme, which means providing the curriculum, the tools and very importantly, giving them access to a network of investors so there is the potential for further funding,” Shanmugaratnam said.

He added that there is a need for companies to balance profits with doing good, amid a widening social gap exacerbated by the COVID-19 pandemic and conflict.

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联合早报

企业应改变对社会效应投资看法，彼此进行更广泛合作，以产生更巨大的社会影响力（social impact）。

国务资政兼社会政策统筹部长尚达曼今早（3月30日）在首届社会效应投资大会“宗旨议程“（The PurpoSE Agenda）发表主题演讲时表示，越来越多企业意识到，如果它们忽视社会的长远发展，它们将不太可能在长期内取得良好业绩。

为加强本地社会企业的能力，raiSE与创投公司求索创投（Quest Ventures）合作，推出亚洲首个由风险投资支持的可持续影响力加速项目。在这措施下，起步社会企业将获得资金和支援，推动它们下一阶段的发展。

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Prime Minister’s Office Singapore

The PurpoSE Agenda is not just an agenda for each of us – whether in businesses, government, social agencies, community bodies. It is a collective purpose agenda, because the challenges we face will require much deeper collaboration. We are not going to build a more inclusive society, and we are not going to have a more sustainable world, without much deeper collaboration amongst us.

It essentially means that we’ve got to broaden the intersections between our individual missions. We each have important individual missions: businesses must aim to make a profit to be sustainable; social sector agencies must be focused on achieving social outcomes; community bodies look to strengthen bonds – each have their social missions. But there is an intersection between those missions. We’ve got to grow that intersection – the intersection between making a profit on a sustainable basis and doing good for the environment and for society. The missions are intrinsically dependent on each other.

We have to take ‘doing well by doing good’ to the next level in Singapore. We are off to a good start, still some ways to go, and we have to take it to the next level. Catalysing this intersection of business purpose with social and environmental purpose – in Singapore as well as across the region. We should think of Singapore’s collective purpose in regional terms, think of opportunities across the region to uplift people. Singapore will do well if we are in a region where everyone is being uplifted. That has always been the case. But that’s not just about the state or government policies. It is about businesses, and it is for Singaporeans as individuals wanting to do good in Singapore and around the region. There is huge opportunity for that.

Three initiatives that you have now embarked on, all very helpful.

First on catalysing finance itself – the social impact bonds that you have launched, aimed at providing jobs as well as retention in jobs for persons in recovery from mental health issues. I think that’s a very good example. It involves social enterprises: the project manager, which is Social Venture Partnerships and the service provider, Findjobs. NCSS and its partners were deeply involved – IMH, Singapore Association of Mental Health, and Singapore Anglican Community Services – they all worked together to shape the design of this programme, and also to help refer people to the job agency. And the providers of capital – Johnson & Johnson, a key investor, AP ventures which is a philanthropy venture, and C Plus V Foundation, which came through SymAsia, the Credit Suisse philanthropy platform. And raiSE came in as an outcome funder – funding based on outcomes. A good melding of expertise, different risk orientations, bringing both capital and purpose together.

A second initiative is building capabilities for social enterprise. raiSE has partnered with Quest Ventures, which is an established VC player in Singapore. raiSE provides the seed and early-stage grants, and Quest puts the enterprises on its accelerator programme, which means providing the curriculum, the tools and very importantly, giving them access to a network of investors so there is the potential for further funding.

Third initiative, talent, and developing the skills and aptitudes required for social enterprise. raiSE has partnered here with Singapore University of Social Sciences (SUSS), ideally chosen, to develop those instincts and skills when people are in school. Many SUSS students are in fact working adults who already have some experience. So, they come with experience, skills, but the programme is providing them with deeper immersion – traineeships that involve immersion in education, health, and wellness ventures – a range of ventures both here in Singapore, as well as the region.

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Adobo Magazine

Quest Ventures announces the promotion of two female investors in its international investment team with one of them heading up the Environmental, Social and Governance (ESG) focus.

Michelle Ng is promoted to Head of ESG, and concurrently, Director of the Sustainable Impact Accelerator.

Ng has been with Quest Ventures since 2020 and drives its focus on emerging markets in Vietnam and Central Asia. She formerly headed the internationalization focus at the Action Community for Entrepreneurship – the national trade association for startups in Singapore – and was with CNBC Asia prior to ACE. She holds key office bearer positions in grassroots committees and non-profit organizations such as Social Impact Catalyst.

Ng said, “Total ESG assets in Asia have grown from a mere USD 801 million in 2019 to USD 7.9 billion in 2020, and global ESG assets are on track to exceed USD 53 trillion by 2025. Investors have realized that people and social impact form the basis of ESG investing, and will no longer be considered in isolation from environmental and governance aspects. Concerted efforts from the private and public sector will hasten the integration of the social, technology, and finance sectors in order to help socially-impactful enterprises scale further and faster.”

James Tan, Managing Partner at Quest Ventures, said, “Michelle’s thought leadership in the areas of sustainability and emerging economies have seen her recognized by third parties as an Emerging Thought Leader in 2021. As the first Asia-based venture firm to recognize the importance of ESG back in 2018, Quest Ventures is now doubling down on our ESG efforts, and looks forward to Michelle driving our sustainable impact forward.”

Gwen Sim is promoted to Associate.

Sim covers Southeast Asia with a focus on the key markets of Indonesia and The Philippines at Quest Ventures. She is an NUS Overseas College New York alumni and was formerly with Burda Principal Investments and Havas Media. She drives the firm’s Gen Z investment thesis and is a frequently sought after speaker on this topic.

Sim said, “Southeast Asia’s startup ecosystem has seen a lack of females with only 17.2% of VC-backed startups female-led. While the industry has been working to improve the balance, more deliberate efforts to include diversity of thought, and to be conscious of any deep rooted biases when making investment decisions, will be key to uplifting the entire ecosystem.”

Tan said, “Gwen’s infectious optimism for the future provides a unique lens on the possibilities of technology combined with capital. Southeast Asia’s most important consumer segment – Gen Z – now has an advocate in smart capital.”

Tan concluded, “These promotions continue our commitment to talent renewal and female leadership. With 37% of our portfolio companies led by female founders, we look forward to both Michelle and Gwen making a positive impact with their expanded roles.”

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VietLaunch

F&B tech startup KAMEREO has successfully raised $4.6 million in a Series A funding round co-led by seed investors Quest Ventures, CPF Group and Genesia Ventures.

KAMEREO is Vietnam’s first ever technology-enabled supplier for restaurants, hotels, cafes, retail shops and offices. It’s a one-stop platform where farmers, producers, importers and buyers connect to trade a range of fruit and vegetable products at the best prices.

Ms. Goh Yiping, representative of Quest Ventures, was impressed by Kamereo’s ability to implement a comprehensive supply chain and market knowledge for the “farm to fork” model in Vietnam.

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The Peak Magazine

“Senior leaders want to meet, but are too busy to network outside their circle and can’t approach each other cold,” explains Lee, the founder of expert insights firm Sealed Network.

His two-year-old firm scours the Southeast Asia region for subject matter experts and matches them with investment funds, corporates, and consultancies seeking insights on million-dollar investments.

As of 2022, Sealed has secured seven figures in funding from investors including Quest Ventures, Far East Ventures and XA Network.

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