top of page
Search
  • leo3735

2023 The year of Angels

Updated: May 18, 2023

It has been 4 months since we have celebrated CNY this year. The year of the Rabbit, that symbolises hope, resilience, and cautious optimism. Continuing with the interest rate hike trend since mid-2022, Fed fund rates are currently at the high of over 5%. The cheap liquidity flooding the markets, spilling over to private investments, including PE/VC, angel investments, has long since dried up.


Is that an entirely bad situation? Are we all screwed?


Silver lining seems to be that valuation has become more realistic, same goes for founders’ expectations. Investors now must exert greater prudence in evaluating deals and deployment of funds must be much more cautious. Still, the hardest hit industry is the tech industry. Lay-offs, slower growth, much lower valuation multiple seems to be the common trend.


Is that the end of the tech space?


Yet, in 2023, we have fortunately witnessed two of our portfolio companies undergo liquidity events with healthy returns for angel investors like us. In Feb 2023, MyRobin was acquired by Betterplace, as part of Betterplace’s regional expansion into the Indonesian/South-east Asian market, making it one of the most notable startups deals in Indonesia[1]. Following up recently, May 2023, Allrites, our content licensing marketplace portfolio company, announced their listing on NASDAQ, via a merger with Aura SPAC[2].


These two deals are the earliest deals invested by Bamboo Ventures via our vehicle and both have grown exponentially since 2020. It is reassuring to know that despite the tough global financial and economic situation, there are still positive news and optimism ahead. More importantly, tech is still the key industry to look out for.


What’s next then? AI? EV? Metaverse?


Whatever it is, we hope to be part of it, no matter how small our stake is.


37 views0 comments

Recent Posts

See All

Local-born International Unicorns

Over some random discussion with friends, it was mentioned that Singapore rarely produces really good startups. This probably due to a generally well-structured life we have here and Singaporeans are

NFTs. What we think.

Our thoughts on NFTs. Very bullish. This is just the beginning etc etc. We are looking for NFT-related startups to invest in. While we are very lucky to have invested in Origin Protocol’s seed round 4

Comments


bottom of page