Participated · Equity · Mar 2026

Carsome operates an integrated car e-commerce platform providing end-to-end services spanning the vehicle ownership journey through subsidiary brands such as iCar Asia, WapCar, CarTimes, Carsome Academy, and Carsome Capital. It operates across Malaysia, Indonesia, Thailand, and Singapore, with Malaysia and Singapore currently contributing most to profitability. In FY2025 the company posted its second consecutive year of positive EBITDA, more than doubled earnings to around $23 million, and achieved a 16% increase in gross profit as it sharpened cost discipline and monetisation. Carsome plans to use recent funding to scale operations regionally while maintaining a focus on sustainable, profitable growth. The company is prioritising initiatives in supply chain development and technology collaboration, including integrating data and artificial intelligence into its operations. Management describes the fundraising as reinforcing strategic alignment with investors and supporting cross-border collaboration between Southeast Asia and Greater China.

Participated · Series D · Jan 2026

WeLab provides consumer financing, digital banking services, and technology solutions underpinned by proprietary risk-management technology, privacy computing techniques, and AI capabilities. The company operates across Hong Kong, Mainland China, and Indonesia, running two licensed digital banks—WeLab Bank in Hong Kong and Bank Saqu in Indonesia—and claims WeLab Bank is the territory’s largest digital bank by revenue. WeLab’s ecosystem reaches over 70 million individual users and more than 700 enterprise clients. With a recently announced AI-first strategic partnership with Google, the firm intends to develop AI agents, drive hyper-personalization, and modernize its marketing to boost engagement and efficiency. Proceeds from its latest financing will fund accelerated expansion in Southeast Asia, broaden its product suite, and support platform upgrades and strategic M&A. Management highlights the company’s scale and operational experience as a foundation for becoming a leading regional digital bank in Asia.

Participated · Series A · Sep 2025

RushOwl develops an AI-based dynamic routing algorithm called RushOS that pools trip requests for shared, carbon-efficient journeys. RushOS is designed with readiness for autonomous vehicles and focuses on optimal asset utilization for sustainable ROI. The company’s mobile app, RushTrail, supports 250,000 users; the platform has powered more than 1.5 million rides and manages over 4,000 trips daily. RushOwl currently provides on-demand shuttle services in Singapore, India and Hong Kong (China). It plans to expand into the Philippines, South Korea and Malaysia and to open an R&D centre in Malaysia. RushOwl was founded in 2018 by Shin Ng (CEO), Songyan Ho (CTO) and Kris Lee (COO).