Golden Gate Ventures (GGV) made the move to expand and solidify its regional footprint in Malaysia
The proceeds raised will be used for new investments and capital requirements.
The investment will fuel development in the Praxis Company’s existing markets of the Philippines, Singapore, and Thailand as well as expansion into Vietnam and Malaysia.
Financial details of the investment were not disclosed but F88 said the fund valued the firm at nearly VND1 trillion (about US$43.5 million).
Hong Kong-based retailer Dairy Farm will own 18.25 percent of Gokongwei-owned retail firm in exchange for the full acquisition of Rustans Supercenters Inc.
The three deep tech startups invested are Horizon Quantum Computing, Involt, and Portcast.