Elixir Capital backs Indonesian recycling firm
Elixir Capital has agreed to invest $4.5 million in Indonesian recycling company Bintang Makmur, through its ECM Straits Fund.
US-based Elixir announced the deal during its annual conference in Indonesia. Bintang Makmur will use the funds to create new recycling sites and hire more workers in Java and Bali.
Elixir was founded in 2011 in California and has invested in small to medium companies in Southeast Asia. It started the ECM Straits Fund last year in response to Southeast Asian companies' perceived need for funding beyond the capabilities of local banks.
Since launching the fund last year, Elixir has invested in Turkish maternity shopping site Annelutfen and committed an undisclosed sum to Malaysia-based e-commerce platform FashionValet. The firm also led a $10 million funding round for aWhere, a US-based agricultural data analytics company with a branch in Malaysia.
More on Southeast Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.