Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 216

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 216
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 to identify a suitable candidate for our initial business combination or (2) of success with respect to any business
combination we may consummate. You should not rely on the historical record of members of our management team or our Sponsor group or
their respective affiliates, our Independent Board, or any related investment’s performance, as indicative of our future performance
of an investment in the Company or the returns the Company will, or is likely to, generate going forward.

Market Opportunity

While we may pursue an acquisition or a business combination target in any business,
industry or geography, we intend to focus our search on a target with business operations
or prospective operations in the technology, digital media, e-commerce, financial
technology, or digital services sectors, which we refer to as the “new economy sectors”,
across Frontier Growth Markets, located in the following regions: the Middle East
North Africa (“MENA”), Sub-Saharan Africa (“SSA”), South Asia (“SA”) and Southeast Asia (“SEA”).

We believe this growth in these new economy sectors across Frontier Growth Markets
will be driven by private sector expansion, technological innovation, a growing young
and middle class population, increasing consumption, structural economic and policy
reforms and demographic changes in the region. We believe that Frontier Growth Markets
are entering a new era of economic growth, particularly in the new economy sectors,
which we expect will result in attractive initial business combination opportunities
for attractive risk-adjusted returns. These markets are host to a fast growing population of over 2.8 billion people, real GDP of approximately $11 trillion as of 2023, a proportion of young people with access to internet economy ecosystems and growing
rapidly, often by executing business models that are already proven in more developed
markets (delivery and logistics apps, e-commerce and social commerce, media streaming, mobile wallets, etc.), and in other instances
innovative, tailored solutions addressing specific market needs (alternative finance,
mobile payments). We believe that the largest global companies are often unable to
localize their products and services to be compelling (e.g. cash on delivery to address
low credit card penetration in some markets).

| ● | Middle East North Africa: we believe relatively                                                                           
 higher incomes (especially in the Gulf Cooperation Council (“GCC”) countries) and internet access with very low but       
 fast-growing e-commerce penetration are creating opportunities in e-commerce, delivery services, classifieds and internet 
 infrastructure.                                                                                                           |

| ● | Sub-Saharan Africa: In SSA, owing to a significant