Corporate investors have been the most active backers of startups in the country, focusing on fintech, ecommerce and logistics.

The third fund – backed by Sabic, BAT, Heraeus and Petronas – is targeting $100m and the latest close included Tong An and Anqing High-Tech Zone.

Turkey's young but growing community of corporate investors is hoping to bring prosperity to the country and nervous about the elections.

SoftBank's $120m sale of Paytm stock at a loss came in the same week as valuation cuts for Swiggy, Ola and Zomato as India's once promising startup scene hits turbulence.

Sumitomo Mitsui Banking Corporation’s $200m SMBC Asia Rising Fund will back fintech companies in Southeast Asia and India.

Hitachi's third startup investment fund doubles its firepower to $600m. The team is looking to invest in Series A to C rounds.

The Go-Ventures led series A comes after Pickup Coffee opened more than 60 locations in the Philippines in its first year, bringing together localisation and tech to fuel rapid growth.

Newly formed fund The Edgeof is set to acquire the $2bn SoftBank unit and expand its investment scope to cover the wider Asian region.

Robert Kaplan, formerly a director for SoftBank’s Vision Funds, has taken up a partner of Americas position.

The Korean government aims to kickstart innovation and encourage M&A among its system of chaebol after deregulating the sector.