Adams Street Partners
China VC: Amicable divorces
Regulatory pressures are encouraging Chinese VC firms to end longstanding US affiliations, but the impact of impending legislation – even sight unseen – cuts deeper into investor sentiment on China
LPs call for discipline on valuations, exits from China GPs - AVCJ Forum
Some LPs have increased their return expectations for Chinese private equity, and they are calling on local managers to be more disciplined on entry valuations and more tenacious on exits in the hope that these higher thresholds can be met.
Indonesia VC: Institutional upgrade?
Having won early support from as assortment of local conglomerates, Indonesian venture capital firms must now demonstrate their independence when pitching international LPs
Adams Street establishes Australia presence
Adams Street Partners has opened an office in Sydney, which will be led by Shaun Thomas, an investor relations principal who joined the firm last November.
Asia co-investment: Gun-shy LPs?
Overallocation, risk aversion, and troubleshooting existing deals have prompted some LPs to pull back from co-investment in Asia. Others are willing to step in, but the market is selective
India exits: Sustainable trend?
GPs saw abundant exits in India in 2021 and the flow continued last year even as other markets stumbled. Investors must assess the merits of various contributing cyclical and structural factors
PE-backed Mankind Pharma files for India IPO
Indian drug maker Mankind Pharma has filed for a domestic IPO, setting up an exit for Capital International, a private equity arm of Capital Group.
Southeast Asia tech: Resilient with an asterisk
Southeast Asia’s booming tech space no longer lends itself to an easy narrative. As start-up fever cools globally, the region charges forward. Cracks are beginning to show but so are counterintuitive bright spots
LP interview: Adams Street Partners
Adams Street Partners believes having a close-knit Asia team, which cuts across geographies, sectors, and stages, informs a big-picture view that enables it to look beyond near-term dislocations
2022 preview: China fundraising
Investors held fire on commitments to China managers amid uncertainty over regulatory reforms. Industry participants hope the government will provide clarity, but the fear LPs won’t hurry back
China investors see primary, secondary valuation mismatch - AVCJ Forum
Investors told the AVCJ China Forum they believe low valuations in the country’s secondary markets will begin to appear in the primary market. But they are positive on the long-term.
India IPOs: A pleasant surprise
The lack of a reliable IPO channel is a longstanding exit obstacle for venture capital investors in India. Domestic listings may, unexpectedly, prove to be the answer
KV Asia hits $100m first close on Fund II
KV Asia Capital has reached a first close of $100 million for its second Southeast Asia private equity fund. The vehicle, which focuses on the lower middle market, has a target of $300 million.
Asia technology: Anatomy of a rebound
Tech investment has been on a tear in Asia, with private equity joining venture capital at the party. While COVID-19 has contributed to these dynamics, the revival is rooted in deeper structural change
Fundraising talent: New calls of duty
The trend toward more stringent due diligence in recent years has maximized fundraising complexity at a time when the professionals involved must adapt to unfamiliar virtual forums
India SaaS: Global first
India’s enterprise software start-ups have traditionally ceded the spotlight to their consumer-facing peers, primarily because of their outlook – and their VC backers – are US-oriented. That is now changing
Asia exits: Liquidity lags
Private equity exits – outside of the public markets – are gradually emerging from a COVID-19 hibernation. But sellers must be mindful of timing, structure, and which buyers they are targeting
LPs warn of adverse ESG impact in India - AVCJ Forum
LPs told the AVCJ India Virtual Forum that Indian private equity firms may struggle to raise capital from international investors if they don't make progress on environment, social and governance (ESG) issues.
Rocketship targets Asia with second global VC fund
Rocketship, a US-based data science-focused venture capital firm that has backed a number of Indian start-ups, has closed its second global fund at $100 million with a strong focus on Asia.
LPs call for better communication from Asian GPs - AVCJ Forum
LPs from five global funds say cultural issues and a relative lack of crisis experience have led to difficulties getting quality disclosure from Asian fund managers.
East Ventures reaches $57m first close on eighth fund
Indonesia’s East Ventures has reached a first close of $57 million on its eighth fund. The target is $88 million.
Coronavirus & fundraising: Comfort levels
Personal contact with the manager remains a prerequisite for LPs when making fund commitments, but to what extent will recent travel restrictions change the parameters for on-site due diligence?
Coronavirus & fundraising: Caught in a bind
The coronavirus outbreak has implications for PE fundraising well beyond China. Many Asia-based managers are either unable to go and see LPs or LPs are not permitted to visit them
East Ventures closes sixth fund at $75m
East Ventures has closed its sixth fund for early-stage Southeast Asian start-ups at $75 million. It had initially targeted $30 million.