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This new Southeast Asian fund has its eye on Chinese cross-border firms

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As U.S.-China relations remain tense, Southeast Asia becomes the darling for investors and tech companies from both sides as they seek overseas expansion. Behemoths like Google, Facebook, Alibaba, Tencent and ByteDance have elbowed into the region. Some set up shop, while others formed alliances and took stakes in local startups.

Now five prominent investors originating from the region are ready to claim their slice of the market. Singapore-based Altara Ventures debuted this week with a goal to raise over $100 million for its first fund focused on early-stage tech startups in Southeast Asia, with an eye on those with ties to China.

The financial vehicle was co-founded by Dave Ng, former head of Eight Roads Ventures, the investment arm of Fidelity International, along with four other general partners. They are Koh Boon Hwee, former chairman of DBS Group and Singapore Telecommunications; Tan Chow Boon and Seow Kiat Wang, who, along with Hwee, co-founded Omni Industries (bought by Celestica) and later managed private equity investments together; and Gavin Teo, a former product manager at Xbox and Zynga and a colleague of Ng at B Capital, a fund started by Facebook co-founder Eduardo Saverin.

Altara derives from the English word “altitude” and the Bahasa word “nusantara”, the historical designation for maritime Southeast Asia, a coinage that captures the firm’s ambition to back early-stage startups concurrent with the region’s technological advancement. The firm considers sectors ranging from fintech, consumer, enterprise software, logistics, healthcare through to education.

What happened in the Chinese internet realm has become a source of inspiration for entrepreneurs in its neighboring countries, and ideas flow from China into Southeast Asia in various ways.

“The first is around Chinese founders bringing their expertise from what they have done and gained in China to Southeast Asia as a new market. This could be totally new startups that they cofound with Southeast Asian entrepreneurs, and together they tackle whitespace opportunities here,” Ng explained to TechCrunch.

“We have also seen Chinese entrepreneurs who were first posted to the Southeast Asian region under tech giants such as Alibaba and Lazada, Ant Financials and etc coming out to start up on their own.”

The second type is what particularly interests Altara, for Ng believed the fund can “back and contribute our experience, expertise and network in Southeast Asia to them.”

What’s more, the investor is bullish on the future of the Southeast Asian tech industry as the U.S. and China enter “a phase of bifurcation.”

“We think Southeast Asia will benefit from its position as the connector of East and West. Over the next 10 to 20 years, we will see more talent and capital coming into the region.”

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Charge Your Phone Wirelessly With 50% off a Multifunctional LED Lamp

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Best Tech DealsBest Tech DealsThe best tech deals from around the web, updated daily.

White Wireless Charge Lamp | $18 | Amazon | Clip coupon + code ABC88699
Black Wireless Charger Lamp | $20 | Amazon | Promo code ABC88699

When you’re ready to turn in for the night, you don’t want to forget to charge your phone— especially if your mobile device doubles as your alarm clock.

With this wireless charger lamp, you can make this crucial step of your nightly routine even easier by just setting your phone on the wireless charging pad and… well, that’s all there is to it!

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Other functions include multiple lighting modes as well as a sleep timer option for auto shut-off of the light after 30 or 60 minutes.

This lamp can be yours in white for $18 if you clip the coupon on Amazon (it’s below the original $40 price) and add promo code ABC88699 at checkout.

You can snag the black version for $20 using the same code—no coupon though, sorry.

Don’t sleep on this deal! Who knows how long stock or the coupon code will last?

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Keep That Hotdish Hot With 65% Off a Luncia Casserole Carrier, Only $11 With Promo Code

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Luncia Double-Decker Dish Carrier | $11 | Amazon | Promo code SDDU9S7F

It has been a long time since the days we could safely have a potluck or other gatherings, but we have a fantastic deal perfect for once those times return. These double-decker Luncia dish carriers can be had for 65% off when you add promo code SDDU9S7F at checkout and clip the coupon on the site (it’s just below the price). These holders fit 9″x 13″ sized baking dishes.

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That means you can insulate and keep two dishes of food warm for only $11 instead of $30. What’s more, your Luncia carrier will arrive by Christmas if you order today as a Prime member.

Just add promo code SDDU9S7F and clip the 5% off coupon to bring the price down to $11 for the blue or the grey option.

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Grab this offer while it’s still around!


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Conquer Your Pup’s Dander and Fur With $700 Off a Cobalt or Charcoal Bobsweep PetHair Plus Robot Vacuum

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Bobsweep PetHair Plus Robot Vacuum & Mop (Cobalt) | $200 | Best Buy

Bobsweep PetHair Plus Robot Vacuum & Mop (Charcoal) | $200 | Best Buy

Allergies can be bad enough as the seasons change. Don’t let pet hair and dander add to that by vacuuming it up early and often. That chore is easier said than done— unless you have a robot vacuum to do the work for you. This lovely bright cobalt Bobsweep PetHair Plus robot vacuum and mop, only $200 today at Best Buy seems like an ideal option. That’s a whopping $700 off, by the way.

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You can get the same deal for the charcoal version of the robot vac, too. This model is not only specially made for picking up pet hair, it self docks and charges when it’s finished with the work.

It also comes with a mop attachment, so it can take care of those kitchen floors for you as well. Grab it while it’s still available for this fantastic price!

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