Southeast Asian consumer startups focus of new fund First Move

Former executives of Malaysia-based Fave launch early-stage venture capital entity

20230705 DSA First Move

First Move provides pre-seed funding of up to $100,000 and mentorship to early-stage startups seeking to introduce consumer-focused innovations in Southeast Asia. (Source photos by AP and Getty)

MARS W. MOSQUEDA JR., DealStreetAsia

CEBU, Philippines -- Two former executives of the fintech firm Fave, Audra Pakalnyte and Joel Neoh, have launched a new early-stage venture capital fund that will invest in consumer-focused startups in Southeast Asia.

The fund, First Move, provides pre-seed funding of up to $100,000 and mentorship to early-stage startups seeking to introduce consumer-focused innovations in the region, according to an announcement.

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