Weekly digest - June 01 2022
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01 June 2022
COVER STORY
Japan’s late-stage tech start-ups are finally beginning to attract meaningful attention from global investors. They should not pop open the champagne.
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PROFILE
BERT KWAN OF SILVERHORN
 During a career that has seen both highs and lows, Bert Kwan has demonstrated an ability to back growth opportunities in Asia’s emerging markets. He is planning on more of the same at Silverhorn.DEAL FOCUS
WERIDE CONFIRMS ITS ASCENDENCY
 Chinese autonomous driving pioneer WeRide has climbed from near bankruptcy to a USD 4.4bn valuation within three years. A collaboration with Bosch could form a blueprint for other alliances.DEAL FOCUS
VENTURI BRINGS FAMILIES INTO D2C
 Consumer-focused private equity firm Venturi Partners drew on significant family office co-investment to co-lead a USD 108m Series D for India direct-to-consumer food specialist Country Delight.DEAL FOCUS
BUD PUTS CONTENT CREATORS FIRST
 GGV Capital first backed Bud Technologies before it had a market-ready product. Now the company has closed a Series B round and is looking to take its user generated content tools into more markets. |
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By the Numbers
AVCJ RESEARCH
CLEAN ENERGY AGENDA
The Astrea The low point for renewable energy in Australia came during the Abbott administration of 2013-2015. The industry seemed to be under constant threat: not only were key government agencies that drive investment in renewables slated for closure, but a proposal was even floated to eliminate the country’s renewable energy target.
Subsequent administrations have, to varying degrees, been less hawkish on the environment. Clean energy accounted for 32.5% of Australia’s electricity supply in 2021 and private capital is increasingly prominent in the industry. Annual private equity investment alone has averaged USD 380m over the past seven years, a fourfold increase on the preceding seven years, according to AVCJ Research. Large-scale renewables deals skew the headline numbers, but at the same time, these numbers often fail to capture the full breadth of sustainability-related investment activity. Just in the past week, deals have been announced involving software providers that help companies manage carbon in agricultural supply chains and enable utilities to prepare for and withstand extreme weather events. Mounting public dissatisfaction on climate change policy arguably contributed to the outcome of the recent federal election. The incumbent Morrison administration set a net-zero emissions target but was criticised for failing to back it up with meaningful policies; newly elected Prime Minister Anthony Albanese has placed climate change at the top of his agenda. Will we see a renewed surge in private investment? 
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.
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UPCOMING EVENTS
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