Beam’s investors aren’t beaming

More: Animoca mulls an HK listing. [Read from your browser]( Daily Newsletter Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](.  --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - The fraud allegations surrounding Beam and how they could [affect the firm’s investors]( - Sakana AI’s US$214 million series A funding round - Vietnam’s top-funded tech companies - Other newsy highlights such as Animoca’s possible listing in Hong Kong --------------------------------------------------------------- Hello {NAME} Transparency is important in all kinds of relationships. Honesty between loved ones matters for obvious reasons. This also applies to business. Consumers want to know exactly what they’re paying for, while for investors, being informed about the risks of any deal is a must before putting money in. But of course, things are a bit trickier in practice. An entity’s proactivity is another’s imprudence, and it can lead to situations like the one detailed in today’s premium article, in which e-scooter-sharing service provider Beam is accused of fraud in Australia and New Zealand. This threatens to also affect Beam’s backers, which include 500 Global, Momentum Ventures, and Peak XV Partners. They may now need to prove that they did their due diligence and performed their duties properly with regards to Beam, lest they suffer reputational damage. -- Winston  ---------------------------------------------------------------  THE BIG STORY Could Beam's alleged fraud expose prominent VCs to reputational risk? The case raises questions about investor due diligence and board responsibilities. Delve deeper into the full story [here]( --------------------------------------------------------------- TRENDING NEWS [Japan’s NVIDIA-backed Sakana AI raises $214m]( Sakana AI has raised about US$214 million in its series A funding round, putting its valuation at US$1.5 billion merely a year post-launch. Some of its investors are Mitsubishi UFJ Financial Group, Mizuho Financial, Sumitomo Mitsui Banking, and Nomura. [Animoca mulls potential Hong Kong IPO amid crypto shifts]( Hong Kong is positioning itself as a listing venue for Animoca Brands, co-founder Yat Siu says. He adds that the Web3 giant, which is headquartered in the city, is observing a surge in digital asset activity as local officials work to establish the region as a global crypto hub. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Vietnam’s top-funded tech companies in the last decade]( Our automated tracker makes sure that you aren't late to the country’s next unicorn party. --------------------------------------------------------------- SYNC 2024 - AI • SINGAPORE  Meet the leading minds who are shaping the AI landscape SYNC 2024, taking place on October 8 at Capella Singapore, will bring together Asia's leading minds in AI. We're excited to announce our full speaker lineup: Oliver Jay from OpenAI, Mohsen Moazami from Groq, and Min-Liang Tan from Razer. These industry leaders will share their insights and expertise, providing valuable perspectives on the latest AI advancements and their impact on various sectors. 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