SEA Deal Ticker
Growth capital without a cap-table hit: Vietnam's Tevo takes $10M against 45 apps
PvX Partners put up non-dilutive user-acquisition financing rather than equity, behind a portfolio of 45 consumer and AI apps that has logged close to 200 million installs.
Positive-sum angle: A founder with proven cohorts and no appetite for a down round can buy users on someone else's balance sheet; PvX has written $750M of these globally.