Daily Briefing: Digital community hubs to be launched by end August; Sequoia raises $1.81b for two new funds

And fintech firm FOMO pay acquired by Hong Kong’s AMTD.

From ChannelNews Asia:

Anyone facing difficulties with their digital devices will soon be able to get help from new SG Digital community hubs that will be set up across Singapore.

Located in community centres and public libraries, the 46 one-stop help centres will be opened by end August.

Five centres have already commenced operations: the community hubs at Heartbeat @ Bedok, Leng Kee Community Centre, MacPherson Community Centre, Our Tampines Hub and West Coast Community Centre.

"The SG Digital community hub is another milestone in the effort to be deeply embedded in the community," said Minister for Communications and Information S Iswaran.

Even though the community hubs are open for all, seniors and hawkers are the immediate priority, said the Infocomm Media Development Authority (IMDA) and SG Digital Office (SDO).

Read more here. 

From DealStreetAsia:

Silicon Valley-based Sequoia Capital has raised a total of $1.81b(US$1.3b) for two new funds that will invest across India and Southeast Asia, according to an announcement.

The firm’s limited partners have collectively committed $1.15b (US$825m) to the growth fund and another $732.85m (US$525m) to a venture fund.

Its investments include unicorns Byju’s OYO, Gojek, Tokopedia, Traveloka, and ONE Championship. With the new funds, its total assets under management have risen to over $8.7b(US$5.78b).

Sequoia India’s managing director Shailendra Singh notes that the pandemic has been a catalyst for positive change as founders have shown leadership and agility in adapting to the crisis, trimmed costs, and unlocked new revenue levers.

Read more here. 

From DealStreetAsia:

A controlling stake in Singapore’s QR code and payment solutions provider FOMO Pay has been acquired by Hong Kong’s AMTD Digital for an undisclosed amount, according to an announcement.

The deal involves a combination of share swap and cash. This is said to be AMTD Digital’s third deal in the Singapore fintech market following the acquisition of PolicyPal and CapBridge.

The acquisition is said to reinforce AMTD Digital’s strategic expansion in Southeast Asia out of its global headquarters in Singapore. It is subject to the approval of the Monetary Authority of Singapore (MAS).

Read more here.