Durians Daily #229: On SPACs & ESGs, Khailee wants proof over promise; Aerodyne’s EY Entrepreneur of the Year; abillion’s vegan awards make the rounds
Realistically optimistic
- Managing partner at 500 Startups Khailee Ng was interviewed at a conference, where he shared his opinion on Special Purpose Acquisition Companies (SPACs) and Environmental, Social, and Governance (ESGs).
- In a nutshell? They’re both things to get excited about, but there needs to be a dose of reality about what is possible, given they are promising rather than proven.
- When it comes to SPACs, Khailee expressed caution about the companies he represents. “We don’t want them to go public with a SPAC, just to tank. We want them to have a viable exit and we want our companies to be ready for the public markets.”
- On the ESGs, he believes that leaders have to embrace it, adding that founders have to be the experts as well. “We want ESG to get to that point where the founder knows innately what impact he or she and their company has, both good and bad,” he added, “I want to be on the right side of history
- Read the full coverage of Khailee’s interview on Digital News Asia here.
A double scoop
- Founder and CEO of 500-backed drone startup Aerodyne, Kamarul A Muhamed, has been unanimously named EY Entrepreneur Of The Year 2020 Malaysia. He was also awarded the winner of the Technology Entrepreneur category.
- Kamarul will represent Malaysia and join more than 60 other country winners to compete for the coveted EY World Entrepreneur Of The Year in June this year.
- Kamarul founded Aerodyne in 2014 with a specialty in aerial imagery. The startup has since pivoted to data intelligence, integrated solutions and now, Drone Tech, Data Tech, and Digital Transformation (DT3). According to Options, The Edge, Aerodyne is ranked second in the world by Drone Industry Insights of Germany, Aerodyne has over 400 drone professionals operating in the Unmanned Aerial Vehicle (UAS) services sector, managing more than 300,000 infrastructure assets with 110,000 flight operations across 35 countries globally.
- Read the full article on Options, The Edge here.
Top of the crops
- CNA Lifestyle featured 500-backed abillion’s 2021 Singapore Top 50 Vegan Dish Awards, an initiative that recognizes the best plant-based options available locally.
- The winners were determined via more than 40,000 reviews, with more than 50% of the dishes chosen coming from non-vegan/vegetarian establishments.
- The three-year-old app currently has 300,000 members globally, with 25,000 of them in Singapore.
- “In our first year there were less than 1,000 plant-based dishes in Singapore on offer through the app and we’ve just crossed 16,000!” said Vikas Garg, founder and CEO of abillion. “It’s a huge milestone for sustainability, as we work with nearly 4,000 restaurants across the country to help them improve their dining options.”
- Read the full feature on CNA Lifestyle here and view the full list of the 50 winners on abillion here.
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500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Durians family of funds. The 500 Durians funds have backed over 200 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.
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