Company: KOYNU
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001829126-25-005283
Chunk: 35

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-22
Form: S-1/A
Chunk 35
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 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 unbanked population, card and digital payments remain low. This has led to significant growth in mobile wallets, alternative lenders and payments, and remittance businesses that we believe represent attractive potential opportunities for us. |

| ● | South Asia (excluding India): With a population of over 400 million across Pakistan and Bangladesh, with nearly half under the age of 25 as of 2021, rapidly rising per capita incomes and urbanization levels, we believe South Asia is a very attractive market for technology and technology enabled businesses in sectors such as e-commerce, ed-tech and food-tech. We believe high mobile penetration rates in South Asia have created opportunities for digital finance services such as mobile wallets, consumer finance and mobile payments for a population that is largely unbanked and underbanked as well as digital media services like streaming and gaming. |

| ● | Southeast Asia: SEA represents relatively more mature markets with higher income levels and more developed infrastructure as compared to MENA, SSA and SA, including higher e-commerce spending and significant time spent online by the high proportion of young population. This has led to an explosion of new media and gaming companies alongside more mature e-commerce, internet infrastructure, classifieds and other specialized players. |

Middle East and North Africa With a population of approximately 508 million and a nominal GDP of approximately $4.32 trillion in 2023, MENA includes