Indonesia
Japanese corporates, VCs back Indonesian e-commerce site
500 Startups and existing investors Gree Ventures have together invested in Bukalapak, an Indonesian e-commerce marketplace, alongside two Japanese strategic investors: price comparison site Aucfan.com and digital marketing firm IREP.
PricePanda gets $3m from Tengelmann for SE Asia expansion
Rocket Internet’s price comparison platform, PricePanda, has raised $3 million from German retailer Tengelmann Group to expand its Southeast Asia footprint. It currently operates in Malaysia, Philippines, Indonesia and Singapore.
Indonesia’s Bakrie group leads $25m Path round
Indonesian conglomerate The Bakrie Group has reportedly led a $25 million Series C round of funding for Path, a San Francisco-based social network platform. Existing investors also participated in the round, including Greylock Partners, KPCB, Index Ventures,...
KKR reaches $2b final close on special situations fund
KKR has reached a final close of $2 billion on its KKR Special Situations Fund (KSSF), double its original target of $1 billion. It will make distressed and event-driven investments in Europe, Asia and North America.
Quvat-backed Blitzmegaplex targets Indonesia IPO
Blitzmegaplex, an Indonesian movie theater chain backed by Quvat Management, is targeting an IPO in the first quarter of 2014 as it seeks to raise capital for expansion.
Digital Garage leads Series A for Indonesia babycare site
Indonesian online babycare retailer Bilna.com has raised a new round of funding led by Digital Garage Incubation, with participation from Golden Gate Ventures, Japanese animation studios TMS Entertainment and existing investors Cyber Agent Ventures and...
Indonesia eases foreign investment restrictions
Foreign investors will be able to take larger stakes in Indonesia’s power, advertising and pharmaceuticals sectors as part of efforts to boost the country’s slowing economy. The changes require formal presidential endorsement before they can come...
SE Asia online retailer Lazada gets $250m in funding from Tesco, others
Rocket Internet’s Southeast Asian online shopping mall, Lazada, has raised a $250 million round of funding from Tesco, Access Industries, and return backers Investment AB Kinnevik and Verlinvest.
Standard Chartered PE re-ups in Indonesia’s Navigat
Standard Chartered Private Equity (SCPE) has invested an additional $25 million in Navigat, an Indonesian company that develops independent power systems for off-grid locations. The equity commitment came in conjunction with a $279 million debt refinancing...
Asia Awards: Exit of the Year – Matahari Department Store
Two substantial partial exits that can be seen to justify the Indonesia investment thesis for global PE firms were among those nominated for Exit of the Year: TPG Capital and Northstar Group’s agreed sale of more than 30% of Bank Tabungan PensiunanNasional...
Indonesian fashion site Berrybenka raises $5m Series B
Japan's Transcomos has led a $5 million Series B round of funding for Berrybenka, picking a more than 30% interest in the Indonesian fashion e-commerce start-up. Existing backer GREE Venture also participated.
Exhilway closes $200m mines and minerals fund, targets Indonesia
Exhilway Global, a US-based hedge fund and emerging markets private equity manager, has closed its maiden mines and minerals PE fund at $200 million. The vehicle will acquire and operate mines in alliance with local companies in Indonesia, as well as...
Q&A: CVC Capital Partners' Sigit Prasetya
Sigit Prasetya, managing partner at CVC Capital Partners, on why recent volatility in Indonesia shouldn’t concern PE investors, negotiating auctions and lofty valuations, and working with Southeast Asia’s family groups
Investment: Southeast Asia's family footholds
By most measures, Southeast Asia is under-penetrated by private equity. If deal flow expectations are to be met, investors must tap local networks for openings in and around the family conglomerates
Falcon House’s Indonesia breakthrough
When the team behind Falcon House came together three years ago they were eyeing Indonesia’s underserved middle market. Drawing on local experience across corporate restructuring, PE and infrastructure, the principals thought they could make the breakthrough...
Indonesia's Falcon House closes maiden fund at $212m
Falcon House Partners, an Indonesia mid-market GP, has reached a final close on its maiden fund at $212.4 million, exceeding its original $200 million target, nearly two years after launch.
CIC agrees $1.3b debt-for-equity swap with Bumi Resources
China Investment Corporation (CIC) has agreed a debt-for-equity swap worth $1.3 billion with embattled Indonesian miner Bumi Resources.
Northstar Group seeks to raise $1b Southeast Asia fund
Northstar Group, the Singapore-based private equity firm backed by TPG Capital, is looking to raise around $1 billion for its fourth fund, which will focus on Southeast Asia.
Indonesia: Infrastructure gridlock
There is substantial demand for infrastructure investment in Indonesia and plenty of opportunities to participate, yet progress is slow. Does the does the sector still hold promise for private equity?
Ancora closes Indonesia fund at $128m
Indonesia-focused GP Ancora Capital has made a final close on its second fund at $128 million. The vehicle is currently 40% deployed, having made three investments since its launch in early 2011.
LeapFrog in $204m first close on emerging markets microfinance fund
Specialist microfinance investor LeapFrog Investments has reached a first close of $204 million for its second fund after just eight months in the market. The vehicle, which has a full target of $400 million, will back companies in South Asia, Southeast...
Indonesia flight booking service gets Series A round from Samwer brothers
Global Founders Capital (GFC) a VC firm co-founded by Rocket Internet’s Samwer brothers, has made its first Asia investment - committing an undisclosed sum to Indonesian flight search engine Traveloka.
Indonesia VCs, incubators form lobbying alliance
Eight Indonesian venture capital firms and incubators have come together to form a lobbying group known as the Alliance of Venture Capitals in Indonesia (AVCII). Members include CyberAgent Ventures, East Ventures, GEPI, Grupara, Ideosource, Jakarta Founders...
Phillip Capital takes stake in Indonesian equipment finance business
Singapore-based Phillip Capital Group has acquired a 9.71% stake in Intan Baruprana Finance (IBF), the financing arm of Indonesian heavy equipment distributor Intraco Penta, through a rights issue. Transaction value was not disclosed.