The Bandung event followed a three-day virtual Demo Day held earlier in June, where Cohort 004’s 20 startups first pitched to HASAN.VC‘s limited partners and global investor network. The in-person showcase at Block71 Innovation Factory gave founders a chance to pitch live to VCs, angel investors, and ecosystem partners, alongside two investor panels on startup fundability and growth-stage readiness, and a founders’ panel reflecting on the accelerator experience.

The first panel included representatives from BNI Ventures, W Fund, Sweef Capital, and Investidea. The second featured investors from Gobi Partners, Indogen Partners, and Skystar Capital. Both were moderated by HASAN.VC General Partner Mohd Akhtaar.

A separate Closed Door Investment Session was held the following day, where another group of ten founders from the cohort pitched in a private format aimed at more direct allocation conversations with investors.

“Cohort 004 marks the final cohort under Fund I, and watching these ten founders pitch in Bandung was a reminder of why we built this model in the first place — to back camel startups, the resilient, capital-efficient businesses that are built to last rather than built to impress,” said Umar Munshi, General Partner at HASAN.VC.

HASAN.VC’s fund pools capital from a private global angel investor group, which invests in accelerator graduates over tranches. According to HASAN.VC, its past three fundraising rounds were oversubscribed; the current and final round is ongoing. These figures are company-reported and have not been independently verified.

The fund operates through a VC entity registered in Labuan and an accelerator firm based in Singapore, with Shariah advisory support from ADL Advisory.

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The in-person Demo Day followed a three-day virtual showcase held earlier in June, where the same cohort presented to HASAN.VC’s limited partners and global investor network. The Bandung event gave founders the opportunity to pitch live to venture capital firms, angel investors and ecosystem partners.

The event also featured two panel discussions exploring what makes early-stage startups fundable before traction and the milestones investors look for as startups progress to the growth stage. The sessions brought together investors from BNI Ventures, W Fund, Sweef Capital, Investidea, Gobi Partners, Indogen Partners and Skystar Capital, and were moderated by Mohd Akhtaar, general partner at HASAN.VC.

“This cohort represents something significant for us,” said Umar Munshi, general partner at HASAN.VC. “Cohort 004 marks the final cohort under Fund I, and watching these founders pitch in Bandung was a reminder of why we built this model in the first place — to back camel startups: resilient, capital-efficient businesses built to last rather than built to impress.

“As we close this chapter of Fund I, we remain focused on the founders ahead of us, not just the milestone behind us.”

“What stood out to me about this cohort was how far these founders have come since day one,” said Mohd Akhtaar, general partner at HASAN.VC. “Some walked in with little more than an idea. By Demo Day, they were standing in front of investors with clarity and a real understanding of their numbers. That transformation is the entire point of this programme, and it’s a fitting way to close out Fund I’s final cohort.”

As part of the broader Cohort 004 programme, Demo Day was followed the next day by a Closed Door Investment Session, where a further ten founders from the same cohort pitched in a more intimate setting to a panel of venture capital investors. The format was designed to facilitate deeper, allocation-focused conversations between founders and investors beyond the public showcase.

HASAN.VC operates a unique people-powered investment model, where members of its global private angel investor network pool capital in tranches to invest in startups graduating from its accelerator programme. The past three fundraising rounds have been oversubscribed, with the current and final Fund I round still open, reflecting growing demand for halal venture capital among high-income and high-net-worth investors.

Building on four accelerator cohorts and a growing community of founders and investors, HASAN.VC remains committed to supporting ethical, resilient businesses and strengthening the halal economy entrepreneurship ecosystem across Southeast Asia and beyond.

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• A Milestone Reached: HASAN.VC has completed its final accelerator cohort under Fund I, bringing its total impact to 120 graduated startups across 10 countries, featuring nearly 500 founders.
• The “Camel Startup” Focus: Moving away from traditional, cash-burning growth models, the accelerator prioritises “camel startups”—capital-efficient, resilient businesses engineered for long-term sustainability rather than short-term valuation spikes.
• Halal Ecosystem Traction: The fund operates on a unique “people-powered” model, matching pooled capital from a global angel network with accelerator graduates, driven by high demand for ethical, halal-compliant venture investments.

Redefining Growth: The Rise of Camel Startups in Southeast Asia

The venture capital landscape in Southeast Asia is shifting from a growth-at-all-costs mindset to a focus on operational durability. HASAN.VC’s Demo Day for Cohort 004 in Bandung, Indonesia, highlights this structural pivot toward backing early-stage companies built to withstand economic cycles.

Rather than chasing “unicorns” that rely on heavy capital consumption, the fund intentionally backs “camel” startups designed to survive in harsh conditions through fiscal discipline and clear pathways to revenue.

The Roadmap to Institutional Funding

The accelerator finale in Bandung brought together leading regional venture funds—including Gobi Partners, BNI Ventures, W Fund, and Indogen Partners—to map out exactly how early-stage ventures can successfully move from inception to growth-stage capital.

The evaluation framework shared by regional fund managers outlines distinct requirements for companies moving through the investment pipeline:

To bridge the gap between public pitches and actual capital allocation, the Demo Day featured a dedicated Closed-Door Investment Session. This private format allowed selected founders to present directly to a panel of venture capitalists, fostering granular, transaction-focused dialogue regarding capital structuring and regional scaling.

As economic conditions continue to push regional industries toward sustainable business models, the demand for ethical, halal-compliant investment infrastructure is rising. By pairing disciplined business practices with global angel networks, the ecosystem is moving toward a more structured, resilient future for digital entrepreneurship across Southeast Asia.

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The funding coincides with the launch of The LifeCard, Takadao’s prepaid VISA card that enables members to spend stablecoins like cash anywhere VISA is accepted. More than a payments tool, LifeCard is integrated into the wider LifeDAO ecosystem, which includes life protection, non-custodial investment pools, DeFi wallets, and a financial literacy hub, all governed collectively by its community.

For HASAN.VC, Takadao represents the emerging class of “camel startups”: resilient, mission-driven ventures building long-term, values-aligned economic infrastructure.

“Takadao is reshaping what ethical fintech can look like in the Web3 era,” said Umar Munshi, General Partner at HASAN.VC. “Their model aligns perfectly with our commitment to empower founders who build with integrity, transparency, and impact. Supporting Takadao means supporting a future where communities own their financial tools.”

Mohd Akhtaar, General Partner and Principal of Accelerator at HASAN.VC, added:

“What excites us about Takadao is its practical vision: connecting Web3 innovation with real everyday use. The LifeCard creates a direct bridge between digital assets and daily life, something millions of users across Southeast Asia and the global Muslim community are eager for.”

Takadao’s expansion spans two of the world’s fastest-growing ethical finance markets: the GCC and Southeast Asia. HASAN.VC’s investment reinforces a powerful narrative: Muslim founders are building globally, and values-driven capital can accelerate their journey.

“Partnering with HASAN.VC gives us a direct link to Southeast Asia,” shared Morrad Irsane, CEO and co-founder of Takadao. “Their community, track record, and values-driven approach make them an ideal partner as we scale The LifeDAO and LifeCard to millions of users.”

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With its latest funding round totaling US$3.1 million, Takadao has strengthened its position as a pioneer in community-based alternative financial solutions and a global leader in ethical fintech innovation.

The funding coincides with the launch of LifeCard, a prepaid VISA card that enables users to spend stablecoins like cash across the global VISA merchant network. The product is not merely a payment instrument, but also a gateway to the LifeDAO ecosystem, which offers high-level security, non-custodial services, and community-driven support for ethical financial transactions.

HASAN.VC views Takadao as a representative of the new generation of camel startups- companies built for resilience and long-term, values-driven missions.

“Takadao is redefining what ethical fintech looks like in the Web3 era,” said Umar Munshi, General Partner at HASAN.VC.

According to him, Takadao’s model fully aligns with HASAN.VC’s focus on supporting founders who prioritize integrity, transparency, and positive impact.

“Investing in Takadao means supporting a future where communities own and control their financial tools,” Umar said.

Mohd Akhtaar, General Partner and Principal Accelerator at HASAN.VC, added that what excites them most is Takadao’s practical vision – bridging Web3 innovation with real-world daily use.

“LifeCard creates a direct bridge between digital assets and everyday activities – something highly relevant for millions of users in Southeast Asia and the global Muslim community,” he said.

Takadao’s expansion targets two of the fastest-growing regions in ethical finance: the GCC and Southeast Asia.

According to HASAN.VC, this support strengthens a new narrative that Muslim founders are capable of building globally scaled companies with meaningful impact through community-based approaches.

“Partnering with HASAN.VC gives us direct access to Southeast Asia,” said Morrad Irsane, CEO and co-founder of Takadao.

“Their community, their track record, and their values-driven approach make them the ideal partner as we expand LifeDAO and LifeCard to millions of users worldwide,” he said.

HASAN.VC is a venture fund focused on founders and on building a better future through investments in high-resilience, impact-driven camel startups.

Through its funding programs, acceleration initiatives, and global network, HASAN.VC aims to democratize ethical investment by channeling capital to more than 40 technology startups across Southeast Asia and beyond. The fund is registered in Labuan and operates an accelerator office in Singapore.

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Kuala Lumpur, November 2025 – HASAN.VC, Southeast Asia’s ethics-driven venture capital fund, has joined a globally diverse group of investors backing Takadao, the Riyadh and Singapore-based Web3 platform pioneering community-owned financial alternatives. With this round, Takadao has raised US$3.1 million in total funding, reinforcing its position as a global leader in ethical, community-governed fintech.

The funding coincides with the launch of The LifeCard, Takadao’s prepaid VISA card that enables members to spend stablecoins like cash anywhere VISA is accepted. More than a payments tool, LifeCard is woven into the wider LifeDAO ecosystem, which includes life protection, non-custodial investment pools, DeFi wallets, and a financial literacy hub – all governed collectively by its community.

A New Chapter for Ethical, Community-Driven Digital Finance

For HASAN.VC, Takadao represents the emerging class of “camel startups”; resilient, mission-driven ventures building long-term, values-aligned economic infrastructure.

“Takadao is reshaping what ethical fintech can look like in the Web3 era,” said Umar Munshi, General Partner at HASAN.VC. “Their model aligns perfectly with our commitment to empower founders who build with integrity, transparency, and impact. Supporting Takadao means supporting a future where communities own their financial tools.”

Mohd Akhtaar, General Partner and Principal of Accelerator at HASAN.VC, added:

“What excites us about Takadao is its practical vision: connecting Web3 innovation with real everyday use. The LifeCard creates a direct bridge between digital assets and daily life – something millions of users across Southeast Asia and the global Muslim community are eager for.”

Cross-Regional Synergy: MENA ↔ Southeast Asia

Takadao’s expansion spans two of the world’s fastest-growing ethical finance markets – the GCC and Southeast Asia. HASAN.VC’s investment reinforces a powerful narrative: Muslim founders are building globally, and values-driven capital can accelerate their journey.“Partnering with HASAN.VC gives us a direct link to Southeast Asia,” shared Morrad Irsane, CEO and co-founder of Takadao. “Their community, track record, and values-driven approach make them an ideal partner as we scale The LifeDAO and LifeCard to millions of users.”

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The latest round drew participation from HASAN.VC (Malaysia), Syla Invest (France), Wahed Ventures (UK), Ice Blue Fund (Japan), Istari Ventures (US), and Adaverse (Saudi Arabia), with follow-on funding from Draper Associates of Silicon Valley. The round targeted investors aligned with Takadao’s community-first and Shariah-compliant mission.

“We wanted to raise from partners who understand our vision of building a community-owned, ethical financial ecosystem,” said Morrad Irsane, co-founder and CEO of Takadao. “Hasan VC, Wahed Ventures, and others give us access to Southeast Asian, European, and Anglo markets where our community is already growing.”

For HASAN.VC, Takadao represents the emerging class of “camel startups”; resilient, mission-driven ventures building long-term, values-aligned economic infrastructure.

“Takadao is reshaping what ethical fintech can look like in the Web3 era,” said Umar Munshi, General Partner at HASAN.VC. “Their model aligns perfectly with our commitment to empower founders who build with integrity, transparency, and impact. Supporting Takadao means supporting a future where communities own their financial tools.”

Takadao’s underlying protocol powers The LifeDAO, a self-described Community-Owned Nobank that gives members decentralized tools for saving, investing, and financial protection. Members own and control their deposits directly, not Takadao, with operational surplus redistributed back into the community. The LifeDAO currently holds around US$1 million in total value locked (TVL) across affiliated funds.

The LifeCard, unveiled alongside the funding announcement, is the newest addition to this ecosystem. It allows users to spend stablecoins like cash anywhere VISA is accepted, offering a critical real-world use case for crypto users.

“The LifeCard creates a tangible bridge between Web3 assets and daily life,” said Sharene Lee, co-founder and COO. “Members can now use their life protection payouts, pooled investment returns, or even community rewards in stablecoins for everyday expenses.”

Designed with financial inclusivity and community ownership at its core, the LifeCard introduces several distinctive features: profit-sharing from card fees, automatic round-ups for savings and investing, and a 0% interest microloan model based on usage history.

“Profit sharing and interest-free financing aren’t just features—they’re reflections of our community values,” Irsane added. “Our aim is to make wealth creation and protection both halal and accessible.”

With this dual announcement, Takadao strengthens its position within the growing Islamic fintech and decentralized finance sectors, where ethical investing, transparency, and user ownership are redefining the future of finance.

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The funding coincides with the launch of The LifeCard, Takadao’s prepaid Visa card that allows members to spend stablecoins like cash anywhere Visa is accepted. More than a payments tool, LifeCard is woven into the wider LifeDAO ecosystem, which includes life protection, non-custodial investment pools, DeFi wallets, and a financial literacy hub—all collectively governed by its community.

For HASAN.VC, Takadao represents the emerging class of “camel startups”: resilient, mission-driven ventures building long-term, values-aligned economic infrastructure.

“Takadao is reshaping what ethical fintech can look like in the Web3 era,” said Umar Munshi, general partner at HASAN.VC.

“Their model aligns perfectly with our commitment to empower founders who build with integrity, transparency, and impact. Supporting Takadao means supporting a future where communities own their financial tools,” added Mohd Akhtaar, general partner and Principal of Accelerator at HASAN.VC.

“What excites us about Takadao is its practical vision: connecting Web3 innovation with real everyday use. The LifeCard creates a direct bridge between digital assets and daily life—something millions of users across Southeast Asia and the global Muslim community are eager for,” he said.

Takadao’s expansion spans two of the world’s fastest-growing ethical finance markets—the GCC and Southeast Asia. HASAN.VC’s investment reinforces a powerful narrative: Muslim founders are building globally, and values-driven capital can accelerate their journey.

“Partnering with HASAN.VC gives us a direct link to Southeast Asia. Their community, track record, and values-driven approach make them an ideal partner as we scale The LifeDAO and LifeCard to millions of users,” said Morrad Irsane, CEO and co-founder of Takadao.

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The announcement comes as Takadao rolls out The LifeCard, a prepaid VISA card that allows users to spend stablecoins like cash anywhere VISA is accepted. The new card forms a core part of the LifeDAO ecosystem, which also includes community-governed life protection, non-custodial investment pools, DeFi wallet solutions, and a financial literacy hub—all operated under a decentralised, community-driven model.

HASAN.VC said its investment reflects confidence in what it calls the next generation of “camel startups”: resilient, mission-oriented companies building long-term economic infrastructure grounded in trust and values.

“Takadao is reshaping what ethical fintech can look like in the Web3 era,” said Umar Munshi, General Partner at HASAN.VC. “Their model aligns perfectly with our commitment to empower founders who build with integrity, transparency, and impact. Supporting Takadao means supporting a future where communities own their financial tools.”

Fellow General Partner and Principal of Accelerator Mohd Akhtaar highlighted the platform’s ability to turn Web3 innovation into real-world utility.

“The LifeCard creates a direct bridge between digital assets and daily life—something millions of users across Southeast Asia and the global Muslim community are eager for,” he said.

Takadao’s presence continues to expand across the GCC and Southeast Asia—two of the world’s most rapidly growing markets for ethical and Shariah-aligned financial services. HASAN.VC’s investment underscores what both organisations describe as a rising global narrative: Muslim founders building borderless, values-driven technology with worldwide applicability.

“Partnering with HASAN.VC gives us a direct link to Southeast Asia,” said Morrad Irsane, CEO and co-founder of Takadao. “Their community, track record, and values-driven approach make them an ideal partner as we scale the LifeDAO and LifeCard to millions of users.”

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Held at the Khazanah Auditorium, Asia School of Business, the event brought together nearly 50 startups representing 12 countries – including Singapore, Malaysia, Indonesia, India, Bangladesh, the United Kingdom, the United States, Australia, Egypt, Saudi Arabia, and the UAE – making it HASAN.VC’s most diverse and dynamic showcase to date.

Throughout the day, investors, founders, and ecosystem leaders engaged in high-energy startup pitches, thought-provoking panels, and meaningful networking sessions – underscoring HASAN.VC’s growing influence in advancing halal and ethical innovation across Southeast Asia and beyond.

Since launching its Accelerator Program, HASAN.VC has supported over 120 startups, with 20+ ventures directly funded and a founder community now spanning nearly 200 entrepreneurs. This milestone reflects the fund’s mission to bridge ethical capital and high-potential founders shaping the next wave of purpose-driven innovation.

“What we’re seeing is the rise of a new generation of founders who are building with purpose, solving real-world challenges with integrity and innovation,” said Mohd Akhtaar, General Partner and Head of Accelerator at HASAN.VC. “Our founders are redefining what it means to build with impact, and we’re proud to be part of that journey.”

The event also marked the official launch of HASAN.VC Fund Round 3, unlocking new opportunities for investors to back promising startups across halal and ethical sectors. The fund deepens HASAN.VC’s commitment to combining financial performance with meaningful social and ethical impact.

“The momentum we’re seeing across halal and ethical tech is only the beginning. As we launch our fund’s third round, we’re opening the door to even greater collaboration and impact,” said Umar Munshi, Managing Partner at HASAN.VC. “Our focus remains clear – to identify scalable halal and ethical ventures, accelerate their growth, and deliver meaningful returns for investors who believe in values-driven entrepreneurship.”

The Showcase gathered a vibrant mix of angel investors, venture capitalists, institutional partners, and corporate leaders, all united by a shared belief: that ethical business can drive both profit and purpose. Conversations throughout the day extended beyond financial returns – toward vision, values, and meaningful change.

The success of Cohort 003 reaffirms HASAN.VC’s belief that entrepreneurship can be both impactful and ethical. With Fund Round 3 now open, the firm continues to expand its support for founders across the halal and ethical economy, providing them with capital, mentorship, and community to help them scale responsibly.

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