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⚡ THE SIGNAL
Morning, founders 👋 The "boring is beautiful" thesis is playing out fast: another Malaysian IT firm lists on Bursa today, two more this month, and the SEA capital map just got more lopsided.
One read. One win. Let's go 🚀
📩 In this issue
💸 THE MONEY
Capital you can claim (no dilution)
Your most-clicked link last week was a grant — so it leads today.
Cradle CIP Spark — up to RM150K pre-seed grant. Company <5 yrs, revenue <RM3M, team of 2+ (1 Malaysian). Rolling. → apply
Watching: a new MSME Digital Grant (50% match, up to RM5K) is expected under Budget 2026 — we'll flag it the moment it reopens.
Takeaway: 19% of you said raising capital is your #1 blocker. Grants don't dilute you — claim these before chasing a round.
🌏 SEA Pulse · Across Southeast Asia
The ACE Market is quietly minting tech listings
🇲🇾 MM Computer Systems lists on Bursa's ACE Market today, raising ~RM26.2M. Pentech follows Jun 15 (RM34.4M); Sum Technology — oversubscribed a wild 110.5× — debuts Jun 18.
🇸🇬 Singapore is hoovering the capital: SEA startups raised $2.8B in Q1 (+110% YoY) — and Singapore took 91.5% of it. Temasek just led a $300M Series C into AI firm PhysicsX.
🇮🇩🇻🇳 The flip side: Indonesia's H1 funding fell ~43% (post-eFishery caution); Vietnam's early-2026 equity is down ~87%. Investors want margins, not momentum.
Takeaway: capital is concentrating in Singapore and in anything showing real unit economics. Raising? Lead with margins.
The IT strategy every team needs for 2026
2026 will redefine IT as a strategic driver of global growth. Automation, AI-driven support, unified platforms, and zero-trust security are becoming standard, especially for distributed teams. This toolkit helps IT and HR leaders assess readiness, define goals, and build a scalable, audit-ready IT strategy for the year ahead. Learn what’s changing and how to prepare.
📊 By the Numbers
Where the money landed this quarter
ACE Market IPO raises, June 2026. Unsexy IT, real revenue — and real demand. Boring is fundable.
Takeaway: the headline isn't "more money" — it's concentration. Know which side of the split you're on.
🤝 The Deal Room
Who raised, who's listing, who's hunting
Listing : MM Computer Systems (today), Pentech (Jun 15), Sum Technology (Jun 18) — all ACE Market.
Raised : 🛵 Dat Bike (Vietnam EV) $4M Series B · ⚡ SLEEK (Bangkok EV) $9M Series A · 🌱 Polybee (SG agritech) $4M seed.
Hunting : Late-stage + deep-tech/AI money is flowing; seed cheques scarce and selective.
11% of you are open to selling in the next 24 months — we'll keep showing you who's buying.
✍️ Founder's Desk · From Sam
He sold for $17M — and called it his biggest career mistake
I've been quietly looking for an industry expert to help me build something new (more on that soon). One introduction led to a founder I won't forget.
He spent 18 years building his business. He sold it for $17 million.You'd think that's the happy ending. He told me it was the biggest mistake of his career.
I asked him why — and his answer changed how I think about exits entirely. Every founder who's ever wondered "should I sell?" needs to hear it.
I'm still putting the full story together. It lands this Saturday — keep an eye on your inbox.
🏆 One More Thing · Founder Win
From a 2017 side-project to a regional house of brands
Melvin Chee started RPG Commerce in 2017; its Montigo brand now sells across Singapore, Thailand, Indonesia and the UAE with 60+ stores — and in 2026 he was tapped for Endeavor's global founder network. Read More —>
Why it matters: he didn't win on one product — he won by owning distribution across markets. Brand + distribution beats a single hero SKU.
💎 AFD Yearly — founder circle, live events & exclusive deep-dives. Want first access? Reply "AFD".
How was today's issue?
That's your win for today. See you. 👋
— Sam, Asian Founder Digest