SeaX Ventures has launched a $6 million climate fund, while Vemanti has bought a 51% controlling stake in XPLOR, the Singapore-based parent of crypto exchange ONUS Pro.
SeaX Ventures launches $6m climate fund
Venture fund SeaX Ventures, which operates in Thailand and the United States, has unveiled SeaX Zero, a $6 million fund to invest in companies that aim to reduce carbon emissions.
SeaX Zero plans to invest $100,000 to $500,000 in 15 to 20 startups in the seed to Series A stages by end-2025. The fund has already invested in companies like Hoxton Farms, Type One Energy, Active Surfaces, and Bluu Seafood.
SeaX Ventures invests globally in early-stage companies and its focus areas include segments like healthtech, agritech, and clean energy.
Vietnam’s Mobile World, Indonesia’s Erajaya to invest $50m more in JV
Vietnamese retailer Mobile World (locally The Gioi Di Dong) and its Indonesian counterpart Erajaya have signed a memorandum of understanding to pump another $50 million into their retail joint venture in Indonesia.
The agreement was reached during Vietnam’s General Secretary To Lam’s visit to Indonesia to elevate the two countries’ relationship to a comprehensive strategic partnership.
Mobile World and Erajaya entered their joint venture to establish a retail store network EraBlue in 2022. It has to date expanded to 100 stores. Mobile World said in a statement that it targeted EraBlue to reach 500 stores in Indonesia and achieve a cumulative revenue of over $1 billion by 2027.
Mobile World operates 5,000 stores in Vietnam, selling mobile phones, electronics, home appliances, pharmaceuticals, food, and mother and baby products. The company aims for a $6-billion revenue target in 2025. Mekong Capital and Creador used to invest in the firm.
Meanwhile, Erajaya achieved net sales of 60.14 trillion rupiah ($3.7 billion) and comprehensive income of 790.85 billion rupiah in 2023.
Vemanti buys crypto bourse ONUS Pro’s parent XPLOR
Financial services company Vemanti has acquired a controlling stake of 51% in XPLOR, the Singapore-based parent company of crypto exchange platform ONUS Pro., according to a release.
Vemanti acquired the stake in XPLOR through the issuance of 80 million shares of Common Stock, 32 million shares of Series A Preferred Stock, and 8 million shares of Series B Preferred Stock to existing XPLOR shareholders who will hold these shares until the Nasdaq uplisting is completed. The company has also planned to acquire the remaining 49% of XPLOR prior to uplisting, securing full ownership.
The company aims to use ONUS Pro’s established platform and its growing user network to introduce new products, including a USD-backed stablecoin to enable international transactions.
