Celebrating 17LIVE's Milestone

Earlier this month, we announced that Vertex Technology Acquisition Company (VTAC), SGX’s pioneer SPAC, proposed the business combination with our portfolio company, 17LIVE Inc. , the leading live streaming platform in Japan and Taiwan, with footprints in other Southeast Asia countries. It has been over 9 years since 2014 when we were the first VC investor in Paktor. Paktor merged with Machipopo in 2017 to form M17 Entertainment which later rebranded to 17LIVE. 

Like all great companies, the journey for 17LIVE is paved with happy, celebratory moments, twists and turns, potholes and moments of doubts (including existential ones). But throughout it all, there is one constant: a steady hand at the helm, Joseph Phua , the co-Founder and current Chairman, to rally the team to overcome obstacles and steer it to what 17LIVE is today. 

Joseph is a purpose-driven person who listens well, embraces challenges, and exudes humility and realism. I have the privilege to work closely with him as an investor and a Board member. 

Vertex Ventures SE Asia & India (VVSEAI)’s supportive role as an investor has been consistent with our portfolio companies. And this is what VVSEAI stands for - building champions by working closely with our founders and walking the journey with them through ups and downs. 

We just announced the closing of our VVSEAI Fund 5 with a fund size of US$541 million. We will continue to support more of such founders like Joseph and work closely with them to build champions. Speaking of which, we just announced our latest seed stage, fintech investment in MatchMade - a promising ledger management solution based in Indonesia. 

In India, our portfolio company, ace turtle cemented its position as the leading tech-native retail company spearheading the retail industry’s next phase of transformation as it helped create the first Wrangler® flagship store in Bangalore’s bustling high street of Indiranagar. This has come on the heels of their recent successful series B fundraise of US$34 million.

We are very thankful for the continued support and the positive news this October. As Diwali is around the corner, we would like to wish our Hindu friends a joyous Diwali festival and holiday season. 

Thank you.

 Joo Hock Chua

Managing Partner

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Read about why Joseph Phua, cofounder and chairman of 17LIVE says "Vertex Ventures Isn't Just An Investor; They're Family" here.