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Weekly digest - July 21 2021

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21 July 2021
Australia LPs: Revert to the mean
COVER STORY
AUSTRALIA LPs: REVERT TO THE MEAN
Could Australia's superannuation reforms see private equity lose out in a race to the middle on returns?

 
   
                                                              

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TALKING POINTS
INDIA'S CONSUMER TECH APPETITE
 
Zomato is set to become only the fifth PE-backed Indian company to raise more than $1 billion through a domestic IPO. The food services platform’s $1.3 billion offering was substantially oversubscribed. But digital payments player Paytm plans to surpass not only Zomato, but all the top five with a $2.2 billion IPO. With Mobikwik also filing, India appears to be about to tap a rich seam of technology listings. Over the past five years, the sector has delivered only six liquidity events – worth about $800 million on aggregate – for companies with PE or VC backers. As the path to exit becomes clearer, so growth-stage investment in technology companies proliferates. E-commerce giant Flipkart is the latest beneficiary, closing a $3.6 billion round at a valuation of $37.6 billion.
In Depth:
ANALYSIS
CHINA BEAUTY: SERVICE WITH A SMILE
focus-services-sBeauty and wellness are at the vanguard of China’s fast-rising services sector. Investors see clear paths to growth, but size presents a plethora of problems in terms of standardizing service quality.
PORTFOLIO
INTEGRAL CORPORATION AND NITTO FC
fertilizer-farm-agricultureJapan’s Integral Corporation treads lightly in the conservative agriculture space as it helps fertilizer maker Nitto FC evolve from an owner-centric culture to a more distributed power structure.
DEAL FOCUS
NEIWAI REALIZES VALUE OFFLINE
Vertex Ventures China was adamant that Neiwai should expand offline on leading a Series B for the lingerie brand in 2017. Four years and two funding rounds later, the strategy is paying off.
DEAL FOCUS
FUJITSU VENTURES UPDATES ANCIENT GRAINS
riceFujitsu is bringing blockchain to the rice industry with a ramped up corporate VC agenda. Digital transformation is the goal; food security and sustainable trade are the outcomes.
DEAL FOCUS
TARGETING AN INSURANCE PAIN POINT
India’s Digit Insurance has achieved a valuation of $3.5 billion in four years with a thesis that simple is better – and more trustworthy. COVID-19 added more rocket fuel.
SEEN AND HEARD
INDIA IN TRANSITION
India is undergoing multiple economic transitions – urbanization, digitalization, and the shift to zero carbon. This transition agenda should be aligned to the UN sustainable development goals, according to CDC Group. 

 
SEEN AND HEARD
GOING DIGITAL, GETTING OLD
Technology innovation – from digitalizaton to autonomous driving – remains the overarching global megatrend, but aging populations and climate change will also be influential in dictating capital flows, Investcorp's institutional investor survey found. 

 
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UPCOMING EVENTS

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