IFC injects $2m in SeedPlus to fund early stage startups in Asia

Nadine Freischlad, reporting for Tech in Asia;

IFC, a member of the World Bank Group, today announced a US$2 million equity investment in SeedPlus, a seed stage venture fund based in Singapore, to support early stage technology entrepreneurship in Asia.

SeedPlus is a collaboration between four investment firms – Jungle Ventures, Infocomm Investments, Accel Partners, and RNT Associates.

Manufacturing giant Foxconn is taking over SoftBank’s investment fund in Asia

Jon Russell, reporting for TechCrunch;

Foxconn is taking over SoftBank’s Asia-based tech investment fund. The manufacturing giant, which is responsible for producing Apple’s iPhone among many other tech products, has agreed to buy a majority 54.5 percent stake in SoftBank Asia Capital in exchange for $600 million, according to a filing.

The deal is scheduled to go through March 1, after which time SoftBank Asia Capital will no longer be a SoftBank affiliate. A SoftBank representative confirmed that the agreement will see Foxconn become “the decision maker on investments” for the fund.

Paktor

Paktor was founded in July 2013 with the mission of connecting people in Asia through technology-enabled platforms. With one of the largest user bases in the region of over 6 million, Paktor has facilitated 5 billion profile reviews to date. Leveraging Paktor’ s carefully crafted proprietary technology and first-mover advantage in the region, Paktor’ s flagship app has become the most successful social networking app for singles in Southeast Asia and Taiwan.

E-waste levels in Asia continue to rise

Daniel Morial, reporting for Yugatech;

In the last 5 years, discarded electronics or e-waste surged by 63% in East and Southeast Asia and that includes the Philippines. It continues to climb as individual incomes rise and high demand for new gadgets and appliances drives it further.

As more gadget are developed, released and the more people who can afford them, e-waste will become a major problem especially to countries like the Philippines that does not have the infrastructure to process e-waste. Not to mention other countries dumping their garbage in the country.