Weekly digest - November 11 2021
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11 November 2021
COVER STORY
A raft of rules, largely targeting the technology sector, has challenged business cases, thwarted exits, and led to tweaks in investment strategy.
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| AVCJ HONG KONG FORUM SPECIAL ISSUE |
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ANALYSIS
HNWIs & PRIVATE EQUITY: ACCESS ALL AREAS?
 The private equity industry wants more efficient and inclusive ways to raise high net worth money than private bank feeder funds. Technology, in different ways, might provide the answer.ANALYSIS
HNWIs & PRIVATE EQUITY: THE ROAD TO RETAIL
 From B2C aggregation platforms to nascent blockchain-based products, solutions that bring alternatives to the mass market are emerging. Providers prefer to be labeled enablers than disrupters.Read further:
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Q&A
ORLANDO BRAVO OF THOMA BRAVO
 Orlando Bravo, founder and managing partner of Thoma Bravo, which claims to be the largest PE investor in software globally, on adding value to SaaS businesses, the rise of blockchain, and opportunities in Asia.Q&A
ANDREAS ASCHENBRENNER & SOPHIE WALKER OF EQT
 In the past month, EQT has launched an impact fund with a difference and adopted science-based targets for emissions reduction. Andreas Aschenbrenner, deputy head of EQT Future, and Sophie Walker, head of sustainability for private capital, explain why.Q&A
FRANCOIS AGUERRE OF COLLER CAPITAL
 Francois Aguerre, head of origination at Coller Capital, on the march towards a $500 billion global secondaries market, the rise of GP-led transactions, and the implications of more permanent capital. |
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ANALYSIS
HONG KONG IPOs: WINNER BY DEFAULT
 New York’s loss is expected to be Hong Kong’s gain as regulatory and political turbulence drives Chinese start-ups to look for alternative listing destinations – unless valuations become a sticking point.ANALYSIS
SOUTHEAST ASIA IPOs: OPPORTUNITY KNOCKS
 A breakthrough offering in Indonesia and regulatory progress in Singapore highlight Southeast Asia’s growing viability as a tech IPO market. It’s unclear how well this is being communicated globally.ANALYSIS
NORTH ASIA IPOs: WELCOME ERUPTIONS
 A steady rhythm of small and mid-sized IPOs in North Asia is now being punctuated by globally noticeable events. Valuations are up, but Korean and Japanese investors are game.Read further:
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The AVCJ Weekly Digest will skip an issue next week. It returns November 24.
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By the Numbers
AVCJ RESEARCH
BIG SPENDERS
In 2017, billion-dollar-plus private equity deals stepped up a level in Asia. Previously, there were seldom more than a dozen in any given year. More than 30 were announced in 2017 and the region hasn’t looked back. The emergence of big-ticket carve-out opportunities, especially in markets like Japan and Korea, is a contributing factor. However, growth-stage technology deals typically make up the largest share. Perhaps that will change in 2021. With uncertainty clouding China’s technology sector, buyouts currently edging minority transactions by 16 to 15.
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For your calendar
UPCOMING EVENTS
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