Southeast Asia
500 Startups launches Cambodia division
500 Startups has launched a Cambodian unit in partnership with Khmer Enterprise, a start-up ecosystem support arm of the local government’s Entrepreneurship Development Fund.
Warburg Pincus, Advantage honored at AVCJ Awards
Warburg Pincus and Advantage Partners triumphed in the firm of the year categories at the 2020 AVCJ Private Equity & Venture Capital Awards, with The Carlyle Group and Affinity Equity Partners also among the winners with two trophies apiece.
Investcorp acquires Singapore food company Viz Branz
Investcorp has agreed to acquire Singapore-based Viz Branz, a cereal and beverage brands maker and distributor in China and Southeast Asia, for an undisclosed sum.
Asia consumer & brands: Mark tank
Local consumer brands in developing Asian markets are beginning to displace established global players. Investors are supporting the uprising and contemplating global breakouts of their own
Asia consumer & technology: Multifarious merchants
Technology is changing the way consumers interact with retailers both concrete and virtual. Ramping up the sociability factor has become a priority amid increasingly pervasive mechanization
Ascent closes debut Myanmar fund at $88m
Ascent Capital has closed its debut Myanmar growth fund with $88 million in commitments. It is said to be the largest private equity fund dedicated to the country.
Asia consumer: Sale of the century
The traditionally slow-changing retail sector received an unexpected incentive to smarten up quickly this year. When the dust settles, shopping will never be the same again
Hong Kong insurtech start-up Coherent raises $14m
Coherent, a Hong Kong-based insurance technology company, has raised a $14 million Series A round led by Cathay Innovation, with participation from Franklin Templeton.
Grab leads $100m round for Indonesia e-wallet player
Singapore-based ride-hailing and local services platform Grab has led a $100 million Series B round for Indonesian e-wallet services provider LinkAja.
ESG: Selling sustainability
As demonstrated by CVC Capital Partners' experience with Softex Indonesia, cost savings are a good starting point when trying to convince Asia founders to embrace sustainability initiatives
Singapore's KK Fund launches large business accelerator
Singapore-based VC firm KK Fund has launched an accelerator that will help large companies develop new technology businesses through cooperation with regional start-ups.
Model behavior: China to Southeast Asia tech transplants
Plenty of internet start-ups in Southeast Asia have been inspired by Chinese forebears, but transplanting ideas from one market to another is often fraught with complications
KKR backs Philippines telecom tower operator
KKR has invested an undisclosed sum in Philippines-based telecom tower operator Pinnacle Towers with a view to helping it expand into a regional platform.
SSIAM, Daiwa hit first close on Vietnam fund
Hanoi-based SSI Asset Management (SSIAM) and Japan’s Daiwa Securities Group have reached a first close of undisclosed size on their third joint Vietnam private equity fund. The target is $100 million.
Atul Phull rejoins Everstone in business development role
Atul Phull, who left Everstone Group in 2018 after a seven-year stint spent primarily on fundraising activities, has rejoined the India and Southeast Asia-focused private equity firm.
Lombard targets $250m for fifth Asia fund
Southeast Asia-focused private equity firm Lombard Investments has launched its fifth flagship growth capital fund with a target of $250 million.
Deal focus: Proterra whisks Asia supply chain for Eat Just
With China consuming more eggs per capita than its Western peers, Proterra Investment Partners sees strong growth potential for plant-based substitute Just Egg. The GP has committed $100 million to an Asia supply chain roll-out
Portfolio: Archipelago Capital Partners and Timuraya Tunggal
Archipelago Capital Partners is playing a subtle but foundational role in Indonesia’s ongoing industrialization by taking the helm of longstanding chemicals producer Timuraya Tunggal
Hong Kong's MindWorks seeks $150m for Fund IV
Hong Kong-headquartered VC firm MindWorks Capital expects to launch its fourth fund in the first half of next year with a target of $150 million.
Hamilton Lane opens Singapore office
Hamilton Lane has opened a Singapore office, which will be headed by Xiaying Zhang, the firm’s Hong Kong-based business development lead for Southeast Asia.
Warburg Pincus tips Converge to sustain rapid growth
Philippines-based broadband provider Converge ICT has completed the country’s largest-ever IPO on the back of a tenfold expansion in the past four years as local consumers sign up to highspeed internet services previously unavailable to them.
Deal focus: Delta, Daiwa target Myanmar’s PET peeve
Commercial Plastics Holding - the target of a rare Myanmar private equity buyout - is being positioned as a leader in the country's plastic bottle recycling industry
India's Taxmantra launches Singapore VC unit, $100m fund
Indian tax and legal services firm Taxmantra Global has launched a Singapore-based VC unit called ProfitBoard Ventures and established a debut fund with $100 million in commitments.
Fund focus: 9 Basil targets Thai distress
9 Basil's predictions of distress in Southeast Asia have been realized faster than anticipated due to COVID-19. The Thai manager is now gauging the likely impact of social unrest
