Financial Services
Vietnam’s VinaCapital backs two local tech start-ups
Vietnam’s VinaCapital has made investments of undisclosed size in two local start-ups - financial technology provider Wee Digital and marketing services player UrBox.
Investors commit $65m to Indian digital insurance player
Acko General Insurance, an Indian online insurance broker with several VC and strategic backers, has raised $65 million from a group of new and existing investors.
Japan's Infinity Ventures targets $120m for fourth fund
Japan-based Infinity Ventures has launched its fourth fund focused on Japan and China with a target of $120 million.
Australia's King River launches debut VC fund
Newly established Australian venture capital firm King River Capital has confirmed the launch of its debut fund and two initial investments.
Omidyar spins out fintech arm as Flourish Ventures
Omidyar Network, a global impact investment firm launched by eBay founder Pierre Omidyar that is an active investor in Asia, has spun out its financial technology division into a new VC firm called Flourish Ventures.
Quona leads $12.8m round for India's SMEcorner
Quona Capital has led a INR900 million ($12.8 million) investment in Indian microlending platform operator SMECorner.
SoftBank Vision Fund invests $1.5b in SE Asia's Grab
Southeast Asian ride-hailing and online-to-offline (O2O) services platform Grab has secured a $1.46 billion investment from SoftBank Vision Fund. The commitment brings the capital raised in its ongoing Series H to over $4.5 billion.
Deal focus: Patience pays off for True North
True North realizes a two-year goal with the acquisition of a controlling stake in Indian health insurance provider Max Bupa
LP interview: CreditEase Wealth Management
Leveraging the online and offline infrastructure of its parent’s P2P lending platform, CreditEase Wealth Management has built a channel for Chinese high net worth money to enter private equity
CDPQ to invest $255m in Edelweiss' India NBFC
Caisse de dépôt et placement du Québec (CDPQ) has agreed to invest INR18 billion ($255 million) in ECL Finance, a non-banking finance company (NBFC) owned by India’s Edelweiss Group.
AirAsia sets up venture capital fund
Malaysia’s AirAsia has launched a venture capital fund in partnership with US-based 500 Startups that will focus on digital Southeast Asian businesses in travel, logistics and financial technology.
Singapore investors launch $100m fintech fund
Singapore-based investors Quantum Energy Asset Management and RE Lee International Capital have launched a fund targeting $100 million for early to growth-stage financial technology start-ups.
Australia financial regulation: Compliance conundrum
Proposed reforms could redraw Australia’s financial services landscape as tougher regulatory requirements see banks back away from certain areas. PE investors want to pick up the pieces
India's True North acquires Max Bupa for $72m
True North has acquired a 51% stake in Max Bupa Health Insurance, a joint venture between multinational insurance giant Bupa Group and Indian conglomerate Max India, for INR5.1 billion ($72 million).
Deal focus: EQT bets on bank cards
China leads the world in mobile payments, but bank and credit card transactions still surpassed $5 trillion last year. EQT wants to help VBill expand its presence in the space, at home and overseas
Thailand's Beacon leads $6.5m round for local fintech player
Beacon Venture Capital, the VC unit of Thailand’s Kasikornbank, has led a $6.5 million investment in Jitta, a local financial technology provider and stock analysis platform operator.
CDC makes debut Nepal investment
UK government-backed development finance institution (DFI) CDC Group has made its first direct investment in Nepal via a $15 million commitment to NMB Bank.
Intudo closes second Indonesia fund at $50m
Intudo Ventures has closed its second fund focused exclusively on Indonesian early-stage companies at $50 million. The firm raised $20 million for its debut vehicle last year.
Blackstone buys India's Aadhar Housing Finance
The Blackstone Group has agreed to buy Indian affordable housing lender Aadhar Housing Finance for a reported INR27 billion ($378 million).
China's Gobi makes its first two Philippines investments
China’s Gobi Partners has made its first investments in the Philippines with early-stage commitments of undisclosed size for online healthcare services provider Maria Health and student portal operator Edukasyon.
Indonesia's Warung Pintar gets $27.5m Series B
Warung Pintar, an Indonesia-based smart kiosk start-up, has raised IDR390 billion ($27.5 million) in Series B funding from a group of investors including East Ventures.
GPs commit $15m Series B to China's Ekuaibao
Ekuaibao, a Chinese corporate cost management software-as-a-service (SaaS) provider has raised $15 million in a Series B round of funding led by Mandra Capital, with participation from existing investors DCM Ventures and Future Capital.
Ascent Capital launches Myanmar PE fund
Ascent Capital, a Singapore-based private equity firm set up last year with a focus on Myanmar, has formally launched its debut fund with about $50 million in confirmed commitments.
Fund focus: Sizing up selectively
ChrysCapital Partners has increased its fund size and its commitment to operations in response to a maturation of the Indian market characterized by bigger deals and more opportunities to drive change