AVCJ

Weekly digest - January 19 2022

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19 January 2022
METAVERSE: TOO CONCRETE TO IGNORE
COVER STORY
As lives lived online find a virtual world to call home, investors, brands, governments, corporations, and accountants follow them in.
ANALYSIS
4Q: RECORD QUARTER, RECORD YEAR
4Q: RECORD QUARTER, RECORD YEARChina rebounds as Asia private equity investment ends 2021 with a bang; bright spots appear in improving fundraising environment; sponsor-to-sponsor exits thrive while PE-backed IPOs stumble.
Q&A
GULF CAPITAL
GULF CAPITALRichard Dallas, a senior managing director at Gulf Capital, and new Asia head Shantanu Mukerji on using Singapore as a regional hub, cross-border expansion, and why a dedicated regional fund is unlikely.
DEAL FOCUS
ACA SEEKS ASIA-EUROPE SPORTING SYNERGIES
ACA SEEKS ASIA-EUROPE SPORTING SYNERGIESJapan’s ACA Group has acquired a Belgium-based KMSK Deinze as part of a multi-club investment strategy that will – in part – bring Asian players into the middle tiers of European football.
FUND FOCUS
INCE EYES GLOBAL ENTREPRENEURS
INCE EYES GLOBAL ENTREPRENEURSBlockchain, hardware, and entrepreneurs going global are on the agenda for Ince Capital Partners’ second China fund, which closed above target despite LPs getting spooked by the tech sector crackdown.
DEAL FOCUS
STARFIELD SERVES UP SERIES B
STARFIELD SERVES UP SERIES BThe Chinese manufacturer of plant-based protein replacements has secured USD 100m in funding to advance a product portfolio that aspires to diversity and structural sophistication.
DEAL FOCUS
PRIME VENTURE SECURES FOUR-YEAR EXTENSION
PRIME VENTURE SECURES FOUR-YEAR EXTENSIONFoundation Private Equity has made its first foray into India, taking out all the LPs in Prime Venture Partners' debut fund through a tender offer process.
By the Numbers
AVCJ RESEARCH
A PLETHORA OF PARTNERS

MBK Partners has become the latest Asia-based large-cap private equity firm to sell a GP stake to external investors. Dyal Capital Partners acquired a 12% interest, with the proceeds earmarked for seeding new investment strategies. Numerous managers across the region have entered into similar transactions, looking to support succession, expansion, or a near-term fundraise. Many are not disclosed. However, they are not necessarily doing business with the likes of Dyal, which have institutionalized the fund-of-firms approach and prioritize longevity, scale, and multiple fee streams. The only transactions readily comparable to MBK-Dyal involved PAG and Baring Private Equity Asia. Below is an admittedly broad snapshot of the Asia target universe, using filters such as number of funds closed, fund size, and recent fundraising activity.
A PLETHORA OF PARTNERS
All of the trends featured here were sourced from AVCJ's proprietary database, AVCJ Research, featuring comprehensive information on private equity deals, fundraises and exits.
For your calendar
UPCOMING EVENTS

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