This Vietnam-based PE firm is keen on the tried and tested

More: Robots are coming to hawker centers, and Kaya Capital has two new funds. [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: - [Mekong Capital’s approach to investing]( - The state of ecommerce in Southeast Asia - Other newsy highlights such as robots that can cook, make coffee, and do dishes and this Philippine VC firm’s newest funds --------------------------------------------------------------- Hello {NAME} The startup life is often about disruption: These companies are trying to solve problems through innovative solutions, and sometimes these can seem pretty weird. Consider ride-hailing services like Uber and Grab. Jumping into the back of a stranger’s car that you booked through an app so you can get to your dinner meeting seemed pretty weird back in the early 2010s, but it’s common now. Still, not all new business models and innovative solutions take off. After all, 90% of startups fail (for various reasons, yes, but business models are one of them). That’s why the Vietnam-based private equity (PE) firm we spoke to in today’s premium story has chosen not to bet on startups. Instead, it’s focusing on later-stage companies that have demonstrated good unit economics. It’s a strategy that certainly makes sense in the volatile world we live in. -- Stefanie  ---------------------------------------------------------------  THE BIG STORY [Why this Vietnam-based PE firm doesn’t bet on startups]( Mekong Capital partner Chad Ovel says there’s an overhang in valuation expectations among many predominantly tech businesses in Vietnam. --------------------------------------------------------------- TRENDING NEWS [Incoming GoTo CEO to serve in role briefly, improve profits: report]( Sources told Reuters that Patrick Walujo would not serve the entire three-year term. [US-China trade war pushes investors to rest of Asia]( Foreign purchases of stocks in emerging Asia excluding China more than doubled from April to May as geopolitical tensions swayed investors. [East Ventures grows AUM to $1.5b as ESG takes priority for investments]( The Indonesia-based VC firm made 105 new investments last year. [Southeast Asia’s ecommerce GMV soars to $100b in 2022 despite headwinds]( With a GMV of US$47.9 billion, Shopee remains the market leader in the region, according to Momentum Works’ report. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Surviving the funding game: how timing can make or break your startup]( Industry realities, economic conditions, and market volatility can affect the time gap between funding rounds. ---------------------------------------------------------------  TECH IN ASIA'S FOUNDERS MEETUP: VIETNAM  Join us and share the hardest challenges you’ve faced as a founder If you’re an entrepreneur based in Vietnam, you’re invited to Tech in Asia’s Regional Founders Meetup, which will be held on June 28 at The Sentry in Ho Chi Minh City (2/F Sonatus Building, 15 Le Thanh Ton, District 1) from 5:30 p.m. to 7:30 p.m. Join us and share the hardest challenges you’ve faced as a founder. To help you find solutions, we’ll introduce you to fellow founders who have been there and done that. Starting up doesn’t have to be a lonely journey. [Register]( for this exclusive event here today. Tickets are priced at US$12.50 per person, inclusive of light bites and one drink. Slots are limited and are available on a first come, first served basis. Thanks to our official event partners - AWS, CleverTap, Cooley, D.Camp, Sinarmas Land, Singapore Global Network (SGN), and Quest Ventures - and our community partners - WeWork and Gobi Partners - for making this meetup possible. ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this form](. Our team will get back to you by the next business day. - Centic - [Centic – a scoring platform for the entire Web3 Space snaps up seed funding from IDG Capital Vietnam Blockchain]( Centic, a data analytic platform for Web3 successfully secured a significant investment from IDG Capital Vietnam Blockchain. - GoSkyi AI - [Riding the ChatGPT Wave: GoSky AI Secures Multi-Million Dollar Pre-Series A Investment from 500 Global, Acorn Pacific Ventures and Paragon Venture Capital]( Eyeing the Trillion-Dollar Opportunity Behind AI-Powered CRM Set to Revolutionize Business Marketing and Sales. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia’s Founders Meetup: Vietnam on June 28]( Our networking event, Founders Meetup: Vietnam, is happening in Ho Chi Minh City on June 28 at The Sentry, 2/F Sonatus Building. Join us and share the hardest challenges you’ve faced as a founder. To help you find solutions, we’ll introduce you to fellow founders who have been there and done that. Register today! ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Assistant Editor]( at Tech in Asia Manila, Philippines - [Project Manager]( at Workmate Jakarta, Indonesia - [Junior Graphic Designer]( at Ematic Solutions Ho Chi Minh City, Vietnam - [Accounting Specialist]( at PT Bimasakti Multi Sinergi Sidoarjo, Indonesia - [Tech Lead - Java]( at SIGMATECH Jakarta, Indonesia - [Merchant Acquisition Payment Gateway Winpay (WFA)]( at PT Bimasakti Multi Sinergi Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. 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