South Asia
SBI, Kyobo Life seek $75m for Asia VC fund
SBI Ven Capital (SBIVC), an ex-Japan VC arm of SBI Holdings, is seeking USD 75m for its latest fund in partnership with Korea’s Kyobo Life Insurance and Singapore’s Nanyang Technological University.
China outbound: Organic options
Tough domestic competition is encouraging Chinese tech start-ups to expand overseas – often organically, earlier in their lifecycles than before, and despite regulatory concerns
India's Multiples invests $88m in BDR Pharma
Multiples Private Equity has led a consortium in the acquisition of a 9.3% stake in India’s BDR Pharmaceuticals for INR 6.8bn (USD 88.5m).
India’s Fashinza gets $100m Series B
Prosus Ventures and WestBridge Capital have led a USD 100m Series B round for India’s Fashinza, a B2B marketplace and supply chain platform for the fashion industry.
India e-commerce enabler Gokwik raises $35m
Gokwik, an Indian e-commerce enablement platform, has raised USD 35m in a Series B round led by Think Investments and RTP Global.
Eight Roads launches $250m India healthcare fund
Eight Roads Ventures has launched its first dedicated healthcare and life-sciences fund for India with a corpus of USD 250m provided entirely by its parent, Fidelity.
India’s NIIF joins $128m round for Ather Energy
India’s National Investment & Infrastructure Fund (NIIFL) has participated in a USD 128m funding round for Ather Energy, a leading domestic manufacturer of two-wheel electric vehicles (EV).
PAG backs acquisition of India's Optimus Drugs
PAG has supported the acquisition of Optimus Drugs for an undisclosed sum alongside CX Partners and Samara Capital as part of a joint Indian pharmaceuticals platform play.
TPG, Temasek invest $136m in India's Dr Agarwal’s
TPG Growth and Temasek Holdings have invested a combined INR 10.5bn (USD 136m) in Indian eyecare chain Dr. Agarwal’s Eye Hospital, setting up an exit for ADV Partners.
Emerging Asia start-ups: Governance revisited
Even a modest cooling off from tech investment euphoria experienced in the peak of the pandemic could reveal big cracks in Asian start-up markets. Diligence efforts are ramping up, but is it enough?
LeapFrog leads $61m investment in India's Redcliffe Lifetech
LeapFrog Investments has led a USD 61m round for India’s Redcliffe Lifetech, a diagnostics platform focused on non-communicable diseases, including heart disease, cancer, and diabetes.
Sequoia, Tiger, Alpha Wave invest $100m in India agtech player
Indian agriculture technology start-up Absolute Foods has confirmed USD 100m in recent funding from Sequoia Capital India, Tiger Global Management, and Alpha Wave Global at a valuation of USD 500m.
Maverick leads $75m round for Hong Kong SaaS player Coherent
Hong Kong-based no-code software-as-a-service (SaaS) provider Coherent has raised a USD 75m Series B round led by Maverick Capital.
India dental start-up Toothsi raises $40m Series C
India’s Toothsi, a direct-to-consumer start-up that makes own-branded transparent dental aligners and braces, has raised a USD 40m Series C round featuring Eight Roads Ventures.
Tiger backs India’s Open Financial at $1b valuation
Indian digital banking start-up Open Financial Technologies has received funding from Tiger Global Management, Temasek Holdings, 3one 4 Capital, and IIFL at a valuation of USD 1bn.
LP interview: British International Investment
British International Investment, formerly CDC Group, is doubling down on an already massive Asia program as it heeds the call for climate action. Specialist funds are the priority
India's Turtlemint closes $120m Series D
Amansa Capital, Jungle Ventures, and Nexus Venture Partners have led a USD 120m Series E round for Indian online insurance broker Turtlemint, taking its valuation close to the USD 1bn mark.
Actis sells India renewables platform to Shell for $1.55b
Actis has sold Indian renewables platform Sprng Energy, including its flagship solar business Solenergi Power, to Shell Overseas investment for USD 1.55bn.
India grocery delivery start-up Zepto gets $200m
Zepto, an Indian grocery app that claims it can deliver food in 10 minutes, has raised a USD 200m round led by Y Combinator at a valuation of USD 900m.
China delivery player Gogox files for Hong Kong IPO
Gogox, a last-mile logistics company formed through the merger of Hong Kong's GoGoVan and an affiliate of mainland China-based 58.com, has filed to list in Hong Kong
Venturi closes debut SE Asia, India consumer fund on $175m
Venturi Partners, a Singapore-based consumer-focused investment firm established by a former Verlinvest executive in the region, has closed its debut fund on USD 175m.
Quadria eyes $1b for Fund III, emphasizes health-tech
South and Southeast Asia healthcare specialist Quadria Capital is broadening its scope to include areas such as healthcare technology and digital health insurance for Fund III, which is expected to be up to USD 1bn in size.
Asia credit: Shift in the cycle
Private debt investors in Asia are mindful of mounting global risks, but they also see opportunities emerging within the region across the capital structure
Venturi leads $55m Series C for Singapore's Believe
Venturi Partners, a consumer-focused investment firm established by a former Verlinvest executive in Asia, has led a USD 55m Series C round for Believe, a Singapore-based consumer products company aimed at Muslim consumers.
