Utopia Capital Management

The electric vehicle (EV) sector is experiencing substantial growth globally, with sales increasing 30% in 2023 following a 54% spike in 2022. Projections indicate an 86% market penetration for EVs by 2030, driven by rigorous government policies under the Paris Agreement, an expanded selection of high-quality EVs from global manufacturers, and key technological advancements that have resulted in significant cost reductions for lithium-ion batteries. Southeast Asia is emerging as a critical hub in the EV supply chain, backed by substantial nickel reserves and strong regional incentives for EV adoption. The region's demographic and economic profile presents a compelling landscape of opportunities for global investors, with over 690 million people and a robust demand for both two and four-wheeled vehicles. As a leading climate VC in Southeast Asia, The Radical Fund's recent investment in Dash Electric underscores the firm's thesis and strategy to capitalize on these dynamics, focusing on scalable, efficient EV solutions in the region. Since the time the article was written by Zachary Lee (李惠翔) and with recent developments, here are a few insights and learnings from the last quarter: 🔋 Battery price deflation is accelerating, validating predictions of a continued decline. 🌏 Policies and geopolitical shifts, like Chinese carmakers moving FDI to Southeast Asia to avoid tariffs, highlight evolving EV investment drivers. 🚀 VCs are prioritizing tech differentiation—data, battery swapping, and innovation remain key growth opportunities. 🗞️ Check out the full story on e27: https://lnkd.in/gB5CwS4S 🤝 Get in touch: connect@radical-asia.com #ElectricVehicles #VentureCapital #SoutheastAsia Alex San

🚀 Exciting News! 🚀 I’m thrilled to share that I’ll be at the MENA ICT Forum 2024, the largest tech event in the region, taking place on November 20-21 at the Dead Sea, Jordan! 🌍✨ The forum brings together industry leaders, innovators, and experts to explore the future of technology and its transformative impact on the MENA region. Join us for valuable networking opportunities, insightful discussions, and groundbreaking innovations. Don’t miss out—register now through: www.menaictforum.com to be part of this incredible journey. #MENAICT2024 #Future_of_ICT #Innovation #SmartCities #Fintech #AI #Cybersecurity #IoT #WomenInTech #Outsourcing #Jordan #Connect #Innovate #Transform

📢 Announcing Dash Electric's successful closure of its oversubscribed seed funding round led by The Radical Fund We’re thrilled to co-lead this round alongside BIC, with participation from SCHNEIDER ELECTRIC ENERGY ACCESS Asia (SEEAA), Aksara Ventures, Kevin Aluwi (co-founder and former CEO of Gojek), and returning investor Antler. 🛵  Dash Electric is on a mission to accelerate Indonesia's #EV transition by providing EV-as-a-Service solutions. From pay-per-use last-mile delivery to customized fleet solutions, Dash is empowering businesses to go green without the logistical headaches. With Indonesia’s target of 100% EV adoption by 2040, Dash is positioning itself as a vital infrastructure partner in this transformation. ⚡ Meeting Indonesia's Growing Demand for Quick Commerce: As Indonesia’s same-day delivery market expands, Dash is building the sustainable infrastructure to support rapid delivery needs across sectors, and already partnering with names like Lazada, ZALORA Group, DHL, Sayurbox, and JNE. 👥 Dash’s rent-to-own program offers drivers the chance to own EVs without upfront costs, creating income opportunities and reducing fuel costs for gig workers. "For many drivers, owning an EV felt out of reach. Dash is making it possible—and sustainable," said Robert Mulianto, COO and Co-founder. 📈 What’s Next for Dash? With this funding, Dash plans to expand its EV fleet, ramp up driver onboarding, and develop advanced software for seamless fleet management. Earlier this year, we highlighted Southeast Asia’s EV landscape with e27 (https://lnkd.in/gB5CwS4S), reinforcing our thesis that solutions like Dash are key to transforming regional logistics. “We are especially proud to support two co-founders Aditya Brahmana Robert Mulianto with over 25 years of combined expertise in supply chain management and logistics, drawn from Southeast Asia’s leading scale-ups and corporates,” shared Alina Truhina, CEO and Managing Partner of The Radical Fund. 🗞️ Read the full story here (English): https://lnkd.in/gXFXd5Kw 🇮🇩 In Bahasa Indonesia: https://lnkd.in/gK7X_c5a Congratulations to the Dash team on this incredible milestone! 👏 #EV #SustainableFuture #GreenLogistics #Indonesia #SoutheastAsia

#podcast: 54 Collective is doing culture their own unique way! How and Why?! Watch our full episode to hear how 54 Collective Board Member, Roo Rogers talks values and business as the perfect model for success in #Africa and #therestoftheworld. #Host: Ibrahim Sagna 🔗Link in comments #54Collective #BuildingWithoutBoundries #Culture #VentureCapital #Entrepreneurship #Africa #Innovation #Empowerment #EconomicDevelopment #JoinUs #Investing #ImpactInvesting #startups #africa #innovation #SA #Kenya #Nigeria

After a fruitful week in Nigeria at Moonshot by TechCabal, meeting incredible founders at our Innovators Playground event and providing hands on support through the Gen F pitch sessions hosted by our venture design team, we’re hitting the road again to connect with more of Africa’s innovators! 🚀 If you’re an early-stage African tech founder creating scalable, impactful solutions, and will be in Cape Town, South Africa on the 15th of November, this invite is for you! Introducing The Ventures Kitchen – our unique, hands-on culinary experience happening on the sidelines of the Africa Tech Festival. 👩🏽🍳 Join us for an unforgettable afternoon where founders and investors swap stories, share insights, and spark new ideas —all while cooking side-by-side! We're looking forward to connecting with Africa’s tech minds in a setting that celebrates collaboration, innovation, and community. 🍽️ Don’t miss out on this chance to #BuildWithoutBoundaries and create lasting network effects! See you there! → https://lu.ma/hdtzsoad #54Collective #AfricaTechFestival

I hesitated to post about The Radical Fund's participation at #NewYorkClimateWeek 2024 and #UNGA. There are already so many meaningful, comprehensive and thoughtful accounts of the dialogues of 6,500+ global stakeholders across 1000+ events that happened that week. Since coming back to Southeast Asia, I have realised that what is even more valuable than taking part in the week itself, is what happens after it. The actions, commitments, alliances, collaborations (and yes - more dialogues!) that emerge across the world are, in my view, ever more helpful than any COP. Top 3 actions we are taking on, as a direct result of NYCW 2024: 1️⃣ Increasing the participation of #SoutheastAsia in #NYCW2025. We have made a commitment to partner with one of SEA's leading Agri stakeholders to do this together. It was disappointing to not have had more Southeast Asian climate visionaries in New York this year. C'mon SEA! 2️⃣ Inspired by Serena O.'s Fin-Erth dinners and Sophie Purdom's #FemaleFounders & Funders event in NY, we are developing something similar for SEA for #women in VC. Reach out if you're interested in partnering on this. 3️⃣ Closing the gap between early-stage and later-stage VC. Learning from TPG Rise folks, we are on a mission to solve the #climatefinancing gap for climate ventures in SEA. If you're a key player in, or have been working on #blendedfinance, #venturedebt or similar innovative instruments - we'd love to collaborate with you. Are you in Southeast Asia and attended NYCW2024? Would love to hear your thoughts on the above.  #unlockingsolutions #climatemitigation #climateadaptation #collaboration

🗞️ DealStreetAsia's recent report, "Women in SE Asia’s VC Ecosystem 2024," highlights both progress and challenges in #GenderInclusion. Despite a notable growth rate of 16.3% in female investment leadership, women remain underrepresented in senior VC roles, comprising just 17.9% of investment leaders across the region. The report interviewed Alina Truhina, CEO & Managing Partner of The Radical Fund, who explained, "Diversity in venture capital is crucial not only for fairness but for integrating diverse perspectives that enhance innovation and ROI. Addressing the systemic underrepresentation of women in senior roles is essential through targeted policies and initiatives." The Radical Fund has built a 50/50 gender-balanced team and is committed to hosting regular workshops to advise companies on integrating diversity into their teams and operations. Read the report here: https://lnkd.in/gUyrXgBQ Join us in advancing opportunities for female founders in climate tech! 🤝 Get in touch: connect@radical-asia.com Thank you Deepshikha Monga and Abhishek Chatterjee for the insightful report and the opportunity to provide our insights #VentureCapital #GenderInclusion #SoutheastAsia #ClimateTech