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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.
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