# First Move

> First Move is a founder-led early-stage venture capital firm backing founders across Southeast Asia, often writing the first cheque before there is a pitch deck. Founded in 2023 by former Fave executives Joel Neoh and Audra Pakalnyte, it uses YC-style SAFEs to fund pre-seed startups - increasingly AI-native ones - across consumer, health, and technology, and pairs its capital with a Consumer Tech Angel Syndicate of operators who co-invest and advise.

- **Founded:** 2023
- **Headquarters:** Singapore
- **Founders:** Joel Neoh (Founding Partner), Audra Pakalnyte (General Partner)
- **Team size:** Small partner-led team (approx. 4 employees per public records)
- **Products:** First Cheque / Pre-Seed Investment, Consumer Tech Angel Syndicate, Founder Support Platform, AI-Focused Fund
- **Notable:** Backed 25+ AI-native startups since launching in 2023, frequently as the first cheque, Secured anchor backing from Khazanah's Jelawang Capital for a new AI-focused fund (2025), Built a Consumer Tech Angel Syndicate of experienced consumer operators

## Products & services

- **First Cheque / Pre-Seed Investment** — Up to US$100,000 in pre-seed funding via YC-style SAFEs with post-money valuation caps around US$3 million, often written at the idea stage before a pitch deck exists.
- **Consumer Tech Angel Syndicate** — A syndicate of experienced consumer founders and senior executives from D2C, e-commerce, mobility and fintech scale-ups who co-invest in First Move deals and provide guidance and connections.
- **Founder Support Platform** — Hands-on guidance, network access and resources to help early founders move quickly from first cheque toward scale.
- **AI-Focused Fund** — A new fund doubling down on AI-native startups, anchored by Khazanah's Jelawang Capital, targeting a minimum size of ~US$14.31 million (RM60 million).

## Achievements

- Backed 25+ AI-native startups since launching in 2023, frequently as the first cheque
- Secured anchor backing from Khazanah's Jelawang Capital for a new AI-focused fund (2025)
- Built a Consumer Tech Angel Syndicate of experienced consumer operators
- Founders' track record: 13 years building, 3 exits across Groupon Asia Pacific, Says.com and Fave
- Portfolio spanning Singapore, Malaysia and Indonesia across consumer, health and AI

## Latest updates

- **2025-06** — First Move doubles down on AI, securing anchor backing from Khazanah's Jelawang Capital for a new fund targeting a minimum ~US$14.31M (RM60M) by Q1 2026.
- **2025-06** — Joins Jelawang Capital's Emerging Fund Managers Programme; reports 25+ AI-native startups backed since 2023.

## Links

- Website: https://www.firstmovefund.com/
- LinkedIn: https://www.linkedin.com/company/firstmovefund
- Instagram: https://www.instagram.com/firstmovefund/

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Profile page: https://yespress.io/first-move
Published by YesPress — https://yespress.io
Last updated: 2026-07-31