Fundraising
China's CIC becomes largest state-owned investor - report
China Investment Corporation (CIC) surpassed Japan’s Government Pension Investment Fund (GPIF) and Norway’s Norges Bank Investment Management (NBIM) to become the world’s largest state-owned investor in 2022, according to Global SWF Tracker.
AC, Indies sign up to Malaysia government tech drive
Indonesia-focused AC Ventures and Indies Capital have agreed to support a Malaysian tech investment programme led by government VC unit Penjana Kapital.
Northstar hits first close on Southeast Asia VC fund
Southeast Asia-focused private equity firm Northstar Group has reached a first close of USD 90m on its first venture capital fund. The overall target is USD 150m.
Australia's PEP ups target for latest secure assets fund
Pacific Equity Partners (PEP) has increased the target for its second Australia and New Zealand-focused secure assets fund to AUD 1.4bn (USD 949m), while pursuing a deal that would round off Fund I and fall into Fund II.
Australia's Heal Partners closes debut fund on $137m
Australia’s Heal Partners, a health, education, and lifestyle-focused venture capital firm, has closed its first fund on AUD 200m (USD 137m). The target was AUD 100m.
Campbell Lutyens recruits Suvir Varma as Asia chairman
Suvir Varma, formerly head of Bain & Company’s financial investor practice in Asia Pacific, has been appointed chairman for Asia Pacific at placement agent Campbell Lutyens.
PAG closes fifth credit fund on $2.6bn
PAG has closed its fifth pan-Asian private credit fund at the hard cap with USD 2.6bn. It is said to be the largest direct lending fund raised in the region to date.
2023 preview: Fundraising
Fundraising is difficult for all but the fortunate few private equity managers in Asia. GPs are delaying launches, shaking up strategies, and offering sweeteners; LPs are in no hurry to make commitments
2023 preview: Private debt
Asia-based private debt managers hope to take advantage of renewed LP appetite for the asset class, while enjoying higher returns driven by rising interest rates and widening spreads
2023 preview: Mass access to PE
More individuals will be able to invest in private equity as fund fractionalisation technology matures. But a global downturn, ever-malleable regulations, and blockchain gloom loom large
2023 preview: India PE
India’s domestic growth story appears unobstructed, but some international investors could hold their fire. The local PE industry will not graduate to the next level without that foreign capital
2023 preview: Australia PE
Market pressures on Australian businesses, including an increasingly serious labour shortage, are a challenge and opportunity for domestic private equity. So is China, but in less discernible ways
2023 preview: China macro
Private equity is eager to re-engage with China as a sudden post-pandemic re-opening reminds investors focused on the country to expect the unexpected. A weak global picture could spoil the party
2023 preview: Southeast Asia VC
Southeast Asia VC is in fair position to hobble through a global downturn and cooling appetite for all things tech despite controversial politics in the region’s largest market and a dicey IPO outlook
2023 preview: Japan middle market
Confidence in Japan’s middle market is whipping up new deal flow, new funds, and new exit channels that will play out in 2023. This includes the possible reanimation of a dormant IPO market
2022 in review: End of the party?
Fundraising favours the few; deployment becomes progressively slower as investors agonise about valuations, macro prospects, and financing costs; sponsor-to-sponsor deals prop up exits
Hong Kong's E15 VC raises $61m for third fund
Hong Kong’s E15 VC has hit a first close of USD 60.75m on its third global deep tech fund with an anchor investment from existing cornerstone LP Sun Hung Kai & Co (SHK).
Affirma hits first close on renminbi fund
Emerging markets-focused private equity firm Affirma Capital has reached a first close of approximately CNY 1.5bn (USD 215m) on its debut renminbi-denominated fund.
India's Blume closes fourth India VC fund on $250m
India’s Blume Ventures has closed its fourth fund targeting seed-stage tech start-ups on USD 250m, beating a target of USD 200m. Fund III raised USD 105m in 2020.
LP appetite for Asia weakens - survey
Institutional investor interest in Asia has fallen significantly over the past two years, according to a survey conducted by Probitas Partners, with pan-regional funds, venture capital, and single country-focused funds among the least popular strategies...
Thoma Bravo raises $32b for deployment in software
Thoma Bravo, a specialist investor in software companies, has closed its latest set of buyout funds with more than USD 32.4bn in commitments. This compares to USD 22.8bn in the previous vintage.
India's Innoven fractionalises venture debt fund
India’s Innoven Capital, a joint venture between UOB and Temasek Holdings-owned Seviora Holdings, has fractionalised a USD 50m venture debt fund using blockchain and smart contracts.
Northleaf launches Tokyo office, targets Asian LPs
Northleaf Capital Partners, a Canada-based asset manager that invests in private equity, private credit, and infrastructure, has opened a Tokyo office to spearhead fundraising activity in Asia and is considering the addition of a Korea presence.
Fund focus: Southeast Asia piques Silicon Valley interest
Singapore’s Iterative is dazzling its entrepreneurial friends in the US with tales of seed-stage success in Southeast Asia and channelling that interest into a sophomore fund