PALO ALTO, Calif.--(BUSINESS WIRE)--Mar 17, 2025--
Scale Asia Ventures (SAV) Founding Partner Wally Wang spoke at the AVCJ Private Equity Forum 2024, joining investment leaders from Carlyle, Warburg Pincus, Apollo, and other top global firms to discuss AI investment trends and corporate LP expansion in Asia.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250318051704/en/
As a firm specializing in AI-native infrastructure and applications, SAV sees a fundamental shift in enterprise software—AI-native applications are replacing traditional SaaS, delivering real-time intelligence instead of static workflows. Companies like Cresta are transforming contact centers with AI-driven coaching, Solve Intelligence is revolutionizing legal and knowledge work, and VISO Trust is redefining IT security with autonomous risk assessments. Unlike traditional SaaS, these AI-native platforms continuously improve, capturing more value through service-based and performance-driven models.
The Rise of Open-Source AI and Its Impact on AI-Native Applications
The emergence of DeepSeek and other open-source AI models is challenging closed-source players like OpenAI, driving lower costs and better performance for AI-native applications. As enterprises in Asia seek localized, cost-efficient AI solutions, open-source advancements will accelerate adoption, allowing AI-native companies to scale faster and capture greater value in the region.
Driving Silicon Valley AI Adoption Through Corporate Partnerships in APAC
Beyond capital, SAV actively connects AI companies with major corporate customers across financial services, telecom, healthcare, and manufacturing in Asia. The firm has introduced AI infrastructure companies like VAST Data, Weaviate, CAST AI, Fiddler AI, and Lightrun to enterprises scaling AI workloads, while Cresta has expanded into contact center operations and Subtle Medical is partnering with healthcare providers to enhance imaging efficiency in Asia.
To further enhance its portfolio companies’ expansion, SAV has built strong corporate alliances across Asia, including Japan, Korea, and Southeast Asia. In Japan, the firm works closely with ITOCHU Corporation, KDDI, Fujitsu, and SBI Holdings to provide strategic market access and operational support. In Korea, Bespin Global, NH Securities, Shinsegae, SK, LG, Naver, and Kakao are key partners in accelerating AI adoption within the region. Additionally, in Southeast Asia, SAV collaborates with major partners such as Singapore GovTech, DBS Bank and Genting Group to extend its portfolio companies’ reach into fast-growing markets.
Expanding Strategic Corporate LP Networks across Asia
Beyond market entry, SAV continues to broaden its corporate and LP networks, positioning itself as the key bridge between Silicon Valley’s AI innovation and Asia’s enterprise sector. With a growing base of institutional investors, family offices, and corporate venture arms, SAV ensures that AI-first companies not only receive financial backing but also gain direct access to Asia industry leaders that are actively seeking out cutting-edge AI solutions.
“The shift from traditional SaaS to AI-native applications is already underway, and Asia represents one of the most significant adoption opportunities,” said Wally Wang. “SAV remains committed to identifying and scaling AI-driven companies by leveraging its deep corporate and LP network, ensuring these businesses gain the strategic partnerships needed to dominate their respective markets.”
About SAV (Scale Asia Ventures)
SAV (Scale Asia Ventures) is a Silicon Valley-based venture capital firm with a $30M inaugural early-stage fund dedicated to supporting enterprise-focused companies worldwide. Beyond early-stage funding, SAV is committed to strengthening its portfolios with an additional $100M in later-stage funding, drawing from its robust Limited Partner base.
The fund's backers include institutional funds, prominent family offices, and publicly-traded conglomerates in the United States, South Korea, Japan, and Singapore. SAV provides its portfolios with expertise in both U.S. and Asia markets and a unique global network of strategic corporate partners.
Wally Wang, Founding Partner of Scale Asia Ventures (SAV) on AI investment trends, the rise of AI-native applications, and the future of enterprise technology in Asia at AVCJ Forum 2024.
Israel launched a wave of airstrikes across the Gaza Strip early Tuesday, saying it was hitting Hamas targets in its heaviest assault in the territory since a ceasefire took effect in January.
The strikes killed more than 320 people, according to Gaza's Health Ministry.
Prime Minister Benjamin Netanyahu said he ordered the strikes because of a lack of progress in talks to extend the ceasefire. Officials said the operation was open-ended and was expected to expand. The White House said it had been consulted and voiced support for Israel’s actions.
Hamas warned that Israel’s new airstrikes breached their ceasefire and put the fate of hostages in jeopardy.
The surprise attack shattered a period of relative calm during the Muslim holy month of Ramadan and raised the prospect of a full return to fighting in a 17-month war that has killed tens of thousands of Palestinians and caused widespread destruction across Gaza.
Here's the latest:
The United Nations Secretary-General António Guterres says he is “shocked” by the Israeli airstrikes in Gaza and has called for the ceasefire in Gaza to be respected.
Guterres, in a statement, called for humanitarian aid to resume for people in Gaza and for the hostages held by Hamas to be released unconditionally.
Freed British-Israeli hostage Emily Damari says her “heart is broken, crushed and disappointed” by the resumption of fighting in Gaza. In a story on Instagram shared by Israeli media, she said she would keep fighting for the remaining hostages.
Gaza’s Health Ministry says Israeli strikes across the territory have killed at least 326 people. The wave of strikes that began early Tuesday is among the deadliest since the start of the 17-month war.
Australian Prime Minister Anthony Albanese called for the ceasefire to be maintained following Israel’s attack on Gaza.
“There’s already been enormous suffering there, which is why we’re calling upon all parties to respect the ceasefire and hostage deal that was put in place,” Albanese told reporters.
“We’ll continue to make representations. Australia will continue to stand up for peace and security in the region,” he added.
An Israeli airstrike flattened a prison run by the Hamas-led government in Gaza Strip, killing dozens of prisoners and policemen, according to hospital records.
The prison was located in the urban Shati refugee camp in Gaza City. Associated Press footage showed a collapsed building and people trying to reach bodies buried under the rubble.
The bodies of more than three dozen prisoners and guards were taken to the nearby Shifa hospital.
The Hamas-run government operates a police force that numbered in the tens of thousands before the war and quickly returned to the streets after a ceasefire took hold in January.
The Israeli military ordered people to evacuate eastern Gaza and move toward the center of the territory after Israel carried out a wave of airstrikes across the territory.
The orders issued Tuesday indicate Israel could launch renewed ground operations.
The Hamas-run Education Ministry in the Gaza Strip says classes have been suspended in dozens of schools that had recently reopened.
The decision came after Israel launched a wave of heavy airstrikes across Gaza early Tuesday, shattering a nearly two-month ceasefire.
Schools shut down across Gaza after Hamas’ Oct. 7, 2023, attack ignited the war, and most were converted to shelters for displaced people.
The ministry said it had resumed classes in around 70 schools in recent weeks.
A United Nations staffer in the Gaza Strip described a “very tough night” as Israel resumed heavy strikes across the territory after a nearly two-month ceasefire.
Rosalia Bollen, a communications specialist with the U.N. children’s agency, said she woke up around 2 a.m. on Tuesday to “very loud explosions.”
She said the UNICEF bass near the southern city of Rafah “was shaking very heavily.” When the strikes subsided, she heard “people yelling, people screaming and ambulances.”
“The bombardments have continued throughout the night,” though at a lower intensity than the initial barrage, she said. “The whole night, there’s been just the constant buzzing of drones and planes flying over.”
She said the strikes hit tents and structures housing displaced families. “We’re seeing, as of this morning, at least several dozen children killed,” she said.
The main group representing the families of hostages held in Gaza has slammed the decision to return to fighting, saying the move shows the government “chose to give up on the hostages.”
The Hostages Families Forum said “military pressure endangers hostages.” It asked the government in a post on X why it “backed out of the agreement” with Hamas that set out a release of all the living hostages in exchange for an end to the war.
“We are shocked, angry, and terrified by the deliberate dismantling of the process to return our loved ones from the terrible captivity of Hamas,” the group said.
A key governing partner of Israeli Prime Minister Benjamin Netanyahu welcomed the return to fighting in Gaza.
Bezalel Smotrich had threatened to leave the government if fighting did not resume, which would imperil Netanyahu’s rule. Critics said those political considerations were influencing Netanyahu’s wartime decision-making.
“We remained in the government for this moment despite our opposition to the (ceasefire) deal, and we are more determined than ever to complete the task and destroy Hamas,” Smotrich posted on X.
Israeli strikes across the Gaza Strip have killed at least 235 people, according to local hospitals.
The toll from the strikes overnight and into Tuesday is based on records from seven hospitals and does not include bodies brought to other, smaller health centers.
Rescuers are still searching for dead and wounded.
North Korea has criticized the United States over its new campaign of airstrikes targeting Yemen’s Houthi rebels.
The state-run KCNA news agency on Tuesday quoted Ma Tong Hui, North Korea’s ambassador to Egypt and concurrently to Yemen, as describing the attacks as a “wanton violation of all international laws including the U.N. Charter and it is an open encroachment upon the sovereignty of other nation that can never be justified.”
He also criticized “U.S. hooliganism.”
Trump during his first term held summits with North Korean leader Kim Jong Un, but the diplomacy collapsed over disagreements on US sanctions.
A senior Hamas official says Israeli Prime Minister Benjamin Netanyahu’s decision to launch widespread strikes on the Gaza Strip amounts to a “death sentence” for the remaining hostages held there.
In a statement early Tuesday, Izzat al-Risheq, a member of Hamas’ political bureau, accused Netanyahu of resuming the war to try and save his far-right governing coalition.
“Netanyahu’s decision to return to war is a decision to sacrifice the (Israeli) occupation’s captives and a death sentence against them,” he said.
He said Israel didn’t respect its commitments in the ceasefire deal reached in January and urged mediators to “reveal facts” on which side broke the agreement.
National Security Council spokesman Brian Hughes said the militant group “could have released hostages to extend the ceasefire but instead chose refusal and war.”
U.S. envoy Steve Witkoff, who has been leading mediation efforts along with Egypt and Qatar, had earlier warned that Hamas must release living hostages immediately “or pay a severe price.”
Israeli officials said the latest operation was open-ended and was expected to expand.
“Israel will, from now on, act against Hamas with increasing military strength,” Israeli Prime Minister Benjamin Netanyahu’s office said.
White House press secretary Karoline Leavitt says the “Trump administration and the White House were consulted by the Israelis on their attacks in Gaza tonight.”
“As President Trump has made it clear, Hamas, the Houthis, Iran — all those who seek to terrorize not just Israel, but also the United States of America — will see a price to pay: All hell will break lose,” Leavitt continued, speaking to Fox News on Monday evening.
Leavitt is one of three administration officials who face a lawsuit from The Associated Press on First- and Fifth-Amendment grounds. The AP says the three are punishing the news agency for editorial decisions they oppose. The White House says the AP is not following an executive order to refer to the Gulf of Mexico as the Gulf of America.
The bodies of Palestinians killed in Israeli army airstrikes are brought to Shifa hospital in Gaza City, Tuesday, March 18, 2025. (AP Photo/Abdel Kareem Hana)
A body of a Palestinian killed in an Israeli army airstrikes is brought to Shifa Hospital in Gaza City, Tuesday, March 18, 2025. (AP Photo/Abdel Kareem Hana)
The bodies of Palestinians killed in an Israeli army airstrikes are brought to Shifa hospital in Gaza City, Tuesday, March 18, 2025. (AP Photo/Abdel Kareem Hana)
A body of a Palestinian killed in an Israeli army airstrikes is brought to Shifa Hospital in Gaza City, Tuesday, March 18, 2025. (AP Photo/Abdel Kareem Hana)
A dead person killed during an Israeli army strike is taken into the hospital in Khan Younis, southern Gaza Strip, Tuesday March 18, 2025.(AP Photo/ Mohammad Jahjouh)
Palestinians walk amid the rubble of destroyed homes and buildings in Jabaliya, northern Gaza Strip on Friday, March 14, 2025. (AP Photo/Jehad Alshrafi)
Palestinians walk surrounded by the rubble of destroyed homes and building in the Zeitoun neighborhood of Gaza City, Friday, March 7, 2025. (AP Photo/Jehad Alshrafi)
