Daily Markup

Daily Markup #780: First Move empowers consumer-focused early-stage startups in SE Asia with up to US$100,000 and mentorship

July 6, 2023 · 2 min read
Credit: First Move

Each new beginning starts with the first move

  • Congratulations to ex-Fave leaders Joel Neoh and Audra Pakalnyte for launching founder-led, early-stage venture capital (VC) fund First Move!
  • The new fund provides pre-seed funding of up to US$100,000, which seven companies across Singapore, Malaysia, and Indonesia have received (Giggly Coco, Scentses + Co, Collektr, Evolut Commerce, TjuFu, and Decube), as well as valuable mentorship, and access to a network of industry connections.
  • “We are committed to paying it forward, supporting founders, being companions on their journey, and filling the crucial gap of early-stage support in Southeast Asia,” Joel shared.
  • First Move actively partners with VCs in the region, and one of its first backers is 500 Global.
  • The company also established the Consumer Tech Angel Syndicate, a close-knit group of experienced founders and executives in the consumer space.
  • “Southeast Asia is seeing the compounding effect of having multiple generations of successful founders backing future founders. Angel syndicates and founder-led funds like these are crucial allies as 500 Global continues to invest across seed and growth stages of our region’s best companies,” said Khailee Ng, Managing Partner at 500 Global. “Collaborating with First Move propels the very best builders I know, Joel and Audra – to launch the next generation of founders.“
  • Read the full story on TechNode Global.
Daily
Tags:
2
Share
• • • KEEP READING

Daily Markup

  • Daily Markup is brought to you by 500 Global, Southeast Asia

  • All content herein is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively “500 Global”) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Global and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies’ markets, competitors, performance, and fundraising has been provided by those companies’ founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Global, or an offer to provide any investment advisory service with regard to securities by 500 Global. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Global. Prospective investors considering an investment into any 500 Global fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Global fund may have a financial interest in one or more of the companies discussed

    All users of this website should note these important Terms of Use governing the use of this website.

  • Copyright © 2024 500 Global | All Rights Reserved

  • Privacy Policy
    Terms of Use
    Code of Conduct