South Asia
India's Moonfrog Labs acquired by Swedish gaming studio
Swedish free-to-play gaming studio Stillfront has agreed to acquire 100% of Indian mobile games developer Moonfrog Labs, setting up exits for Tiger Global Management and Sequoia Capital India.
India’s Zetwerk secures $120m Series D
India’s Zetwerk, a marketplace for the outsourcing of small manufacturing jobs, has raised a $120 million Series D round led by US-based Greenoaks Capital and Lightspeed Venture Partners.
CDC expands VC program with South Asia focus
UK development finance institution CDC Group has engaged two venture capital industry veterans as part of a VC program expansion in Africa and South Asia.
AVCJ Awards 2020: Exit of the Year - IPO: SBI Card
The Carlyle Group helps SBI Card win its place in the ongoing rise of digital India before realizing a landmark domestic IPO. Coordination with State Bank of India has been crucial
AVCJ Awards 2020: Deal of the Year - Large Cap: Jio Platforms
Jio Platforms has attracted an array of global investors as its digital ecosystem designs come into focus. L Catterton Asia adds consumer clout to the infrastructural proceedings
Profile: Sarmayacar's Rabeel Warraich
Rabeel Warraich swapped the stability of GIC for the untested waters of early-stage investment in Pakistan. With Sarmayacar about to close the country’s first VC fund, the gamble appears to be paying off
Deal focus: Olympus credit team spins out, gets OMERS backing
Olympus Capital Credit has rebranded as Orion Capital Asia, with OMERS replacing Olympus as the firm’s equity partner. The strategy is unchanged, with COVID-19 helping to drive deal flow
PE-owned Aadhar Housing Finance files for India IPO
Aadhar Housing Finance, an Indian affordable housing lender acquired by The Blackstone Group in 2019, is looking to raise up to INR73 billion ($1 billion) through a domestic IPO.
Morgan Stanley backs India logistics provider
Morgan Stanley Infrastructure Fund has invested INR1.8 billion ($25 million) in Leap India, a supply chain services provider focused on cost reduction through pallet pooling.
4Q analysis: Growth spurt
Technology-enabled businesses in China and India are the beneficiaries of a resurgence in growth capital deal flow; Japan is the sole stand-out in fundraising; IPOs continue to shine as overall exits struggle
COVID-19 changing conduct as much as tech usage
Experiences vary across geographies as Asian GPs adapt to pandemic working conditions. Technology use is up, but the most lasting changes may be more cultural in nature.
Salesforce invests $15m in India's Darwinbox
Salesforce Ventures has invested $15 million in Darwinbox as part of the Indian staff management technology provider's latest growth round. It brings funds raised to date to about $35 million.
Prosus leads $30m Series C for India agtech start-up
Prosus Ventures, formerly a VC arm of South African media conglomerate Naspers, has led a $30 million Series C round for Indian agricultural technology provider DeHaat.
Fund focus: Endiya sees India’s early-stage upside
Having scaled up in fund size to $75 million for its second vintage, Endiya Partners is looking for opportunities in an increasingly attractive yet competitive Indian start-up ecosystem
Asia PE investment ends 2020 on a tear
A fourth-quarter surge in growth-stage deal-making took Asia private equity investment to $198.5 billion in 2020, comfortably surpassing the previous year’s total despite the strictures of COVID-19.
Buyouts in 2021: Winners and losers
Asia could prove to be a deal-rich market in 2021, but buyout investors are still figuring out the long-term implications of COVID-19 for companies that cater to changing consumer demands
India's Z3 Partners hits first close on debut VC fund
India venture capital firm Z3 Partners has reached a first close of INR1 billion ($13.6 million) on its debut fund, which will invest in early-stage technology start-ups.
India B2B marketplace Udaan raises $280m
Udaan, an India-based B2B marketplace, has raised $280 million from an investor group that includes existing backers Lightspeed Venture Partners, Tencent Holdings, DST Global, GGV Capital, and Altimeter Capital.
India's Endiya closes second fund at $75m
India’s Endiya Partners has closed its second early-stage venture capital fund with about $75 million in commitments.
Sequoia joins $81m Series C for India’s Cred
Sequoia Capital India has joined an $81 million Series C round for India’s Cred, a credit card rewards start-up also known as Dreamplug Technologies.
Zeitgeist: 2020 in quotes
What industry participants had to say on China IPOs, conducting due diligence on GPs, waiting for distress opportunities, working from home, co-underwriting deals, and sensible recruitment policies
Timeline: 2020 by numbers
A selection of the key fundraising, investment and exit events - presented in chronological order - from the past 12 months
Apax buys software business from India's 3i Infotech
Apax Partners has agreed to acquire the software products business of Indian IT provider 3i Infotech for INR10 billion ($136.6 million). It will be renamed Azentio Software.
Google joins $145m round for India's Glance
Google has joined a $145 million round for Glance, an Indian smart phone services provider specializing in media content that launches on a locked home screen when a handset is illuminated.
