Southeast Asia
Singapore blockchain player Rubix raises $100m
Singapore-based crypto transaction infrastructure provider Rubix has raised USD 100m from US-based LDA Capital to transition into a more web3-oriented and “green blockchain” model.
Tough funding terms can hinder start-up growth - forum
Imposing punitive terms on founders in response to governance concerns can prove counterproductive to long-term growth as start-ups move through funding rounds and stipulations intensify, a Singapore Venture Capital & Private Equity Association (SVCA)...
Singapore-based Timothy Zee leaves PAG
Timothy Zee, a Singapore-based managing director with PAG whose primary responsibilities included deal sourcing and business development, has left the firm after 10 years.
Entrepreneur First raises $158m, targets SE Asia
UK-headquartered incubator Entrepreneur First (EF) has raised USD 158m, targeted in part at investment in Southeast Asian start-ups and expanding its reach in the region.
Panthera hits first close on India, Southeast Asia fund
India and Southeast Asia-focused Panthera Growth Partners has reached a first close on its second fund with commitments amounting to more than half the overall target of USD 250m.
Deal focus: Confidence unwavering in SE Asia e-commerce
Singapore online shopping platform ShopBack hopes to extend a fledgling theme of Southeast Asian IPOs in the US amid threats to discretionary spending in its core markets
SeaTown invests $50m in Vietnam e-commerce enabler
SeaTown Holdings International, an alternatives manager owned by Temasek Holdings, has provided a USD 50m Series B round for Vietnamese e-commerce enabler OnPoint.
Southeast Asia logistics player Deliveree raises $80m
Gobi Partners and SPIL Ventures – the corporate venture capital arm of shipping business Salam Pacific Indonesia Lines – have led a USD 70m Series C round for Southeast Asia-focused last-mile logistics marketplace Deliveree.
Asia Partners leads $80m round for Singapore's ShopBack
Singapore’s Asia Partners has led a USD 80m growth round for local e-commerce and retail rewards platform ShopBack.
Openspace, VI Group lead $25m round for Vietnam's Finhay
Openspace Ventures and VI Group have led a USD 25m Series B round for Vietnamese digital investment platform Finhay.
Malaysia's RPG Commerce raises $29m Series B
East Ventures has led a USD 29m Series B round for Malaysia-based direct-to-consumer (DTC) social e-commerce company RPG Commerce.
India-focused neobank Stashfin raises $270m
Stashfin, a Singapore-based neobank that primarily operates in India, has raised USD 70m in equity funding – and secured a further USD 200m in debt – as part of a Series C round.
Singapore e-commerce aggregator gets $45m
Singapore’s Rainforest, an aggregator of Amazon marketplace sellers, has raised a USD 45m round led by Southern Capital, which provided USD 15m.
Placement agents: Asian entries
Asia’s sparse placement agent scene is fleshing itself out despite macro headwinds, but the model is being revised to adapt to a changing market. This appears irreversible
Indonesia blockchain player Ekta raises $60m
Indonesia’s Ekta, a blockchain ecosystem operator with a non-fungible token (NFT) marketplace and eponymous cryptocurrency, has raised USD 60m from US-based Global Emerging Markets (GEM).
Vulcan leads $10.5m Series A for Singapore's Amili
Vulcan Capital, an investment vehicle established by Microsoft co-founder Paul Allen, has led a USD 10.5m Series A round for Singapore-based microbe analytics start-up Amili.
Tencent, Block join Series B for Indonesia's Flip
Indonesian consumer payments platform Flip has upsized its Series B round to more than USD 100m with the addition of Tencent Holdings and Block – formerly Square – to the investor roster and re-up from Insight Partners.
Sequoia raises $2.85b for India, Southeast Asia
Sequoia Capital has raised USD 2.85bn for its latest set of India and Southeast Asia-focused funds, which includes the firm’s first-ever dedicated Southeast Asia vehicle.
Crypto: Something for everyone?
Traditional VCs are becoming more active in Asia’s blockchain and web3 space, despite structural and philosophical obstacles to participation. Can they withstand the crypto winter?
Deal focus: Singapore biotech start-up generates US buzz
Singapore’s Tessa Therapeutics has developed a cancer drug that appears to be twice as effective as other treatments in its class. It has raised USD 126m with eyes on a near-term US IPO
Singapore cancer treatment start-up gets $126m Series A
Singapore’s Tessa Therapeutics, a biotech developer with a Hodgkin's lymphoma treatment in phase-two trials, has raised a USD 126m Series A round led by US healthcare specialist Polaris Partners.
Sequoia China leads $210m Series A for Envision Digital
Sequoia Capital China has led a USD 210m Series A round for Envision Digital, a Singapore-based technology developer focused on helping organisations achieve net-zero greenhouse gas emissions.
Malaysia's IHH Healthcare sells education arm to Rise Fund
A consortium led by The Rise Fund, TPG’s global impact investment platform, has agreed to acquire the medical education arm of Malaysia-headquartered IHH Healthcare for MYR 1.35bn (USD 306m).
Q&A: Jungle Ventures’ Amit Anand
Singapore’s Jungle Ventures has closed its fourth early-stage tech fund on USD 600m, shattering an initial target of USD 350m. Amit Anand, a founding partner at the firm, unpacks the achievement
