The competitive environment for private equity deals in Asia is less intense than at any time in the last 10 years as players investing before the global financial crisis have pared back their activity, says Kyle Shaw, founder and managing director at Shaw Kwei & Partners
Pre-2009, investment banks were committing capital from their balance sheets, hedge funds were targeting private equity deals and strategic investors were very keen for exposure to Asia, and China specifically....
Pine Labs, an India payments start-up backed by MasterCard, PayPal, and Sequoia Capital India, has acquired Fave, a Malaysian counterpart also backed by Sequoia India, for $45 million.
Southeast Asia-focused ride hailing and local services platform Grab has agreed to go public in the US through a merger with a special purpose acquisition vehicle (SPAC) at an enterprise valuation of $30.4 billion.
Lever VC, a Hong Kong-based food tech investor, has achieved a fourth close of $46 million on its debut fund, claiming 2.3x growth in the value of the portfolio since 2019.