Southeast Asia
Pacific Century’s insurtech business extends Series A to $210m
Pacific Century Group’s insurance technology business, Bolttech, has extended a recent $180 million Series A round to $210 million in total.
SoftBank, Warburg Pincus back Singapore's Advanced Intelligence
Advance Intelligence Group, a Singapore start-up best known for digital identity verification and fraud prevention platform Advance.AI and buy now, pay later (BNPL) business Atome, has raised over $400 million in Series D funding.
Platinum sells Singapore's PCI for $306m
Platinum Equity has agreed to sell PCI, a Singapore-headquartered electronics manufacturing services provider it acquired in 2019, to US-listed Celestica for $306 million in cash.
Singapore plans pre-IPO fund to attract listings
Singapore’s EDB Investments (EDBI) will establish a pre-IPO fund – with an initial commitment of S$500 million ($370 million) – that is intended to encourage high-growth companies to list in the city-state.
8F reaches $61m first close on SE Asia aquaculture fund
8F Asset Management, a Singapore-based GP dedicated to developing a sustainable salmon business, has hit a first close of $61 million on its second fund, which will build out Southeast Asian operations.
500 Startups closes $140m global fund, rebrands
500 Startups has closed its largest-ever global fund at $140 million, while simultaneously rebranding as 500 Global and expanding its strategy to include later-stage deals.
STIC leads $100m round for Carousell at $1.1b valuation
Korea’s STIC Investments has led a $100 million round for Carousell, a Singapore-based mobile classifieds marketplace for secondhand goods, at a valuation of $1.1 billion.
Indonesia payments player Xendit raises $150m Series C
Indonesian digital payments infrastructure provider Xendit has raised a $150 million Series C round led by Tiger Global Management at a valuation of around $1 billion.
Square Peg leads $55m round for Indonesia's Pluang
Square Peg Capital has led a $55 million Series B round for Indonesian micro-savings and micro-investment app Pluang.
Jungle hits $225m first close on fourth SE Asia VC fund
Singapore-based Jungle Ventures has reached a first close of $225 million for its fourth Southeast Asia fund after four months in the market. The target is $350 million.
East, Saratoga back Indonesia e-commerce player Sirclo
Sirclo, an Indonesia-based e-commerce enabler that acquired mother-and-baby-focused online retailer Orami earlier this year, has received $36 million in funding led by East Ventures and Saratoga Investama Sedaya (SIS), a listed vehicle with ties to Saratoga...
GPs see more paths to liquidity in Southeast Asia - AVCJ Forum
SPAC deals and GP-led secondary transactions are bringing more liquidity options to Southeast Asia, a geography where private equity investors have often struggled to achieve exits, industry participants told the AVCJ Singapore Forum.
PE investors exit Indonesia telecom towers business
The Carlyle Group has exited what was its debut investment in Indonesia – after a nine-year holding period – with the sale of telecom towers operator Solusi Tunas Pratama (STP).
Baring Asia invests $150m in Singapore game developer
Baring Private Equity Asia has invested $150 million in Singapore-based game developer Virtuos, becoming the largest external shareholder.
Intudo raises $115m for third Indonesia fund
Intudo Ventures has closed its third VC fund focused exclusively on Indonesia at $115 million after less than three months in the market.
Thailand insurtech player Sunday gets $45m Series B
Thailand-based insurance technology start-up Sunday has received $45 million in Series B funding from a group of investors including Tencent Holdings.
KKR leads Series B for Vietnam MSME digitalization platform
KKR has led a $45 million Series B funding round for KiotViet, a sales management software developer that serves Vietnam’s micro, small and medium-sized enterprise (MSME) community.
Malaysia’s Carsome raises $200m at $1.3b valuation
Malaysia-headquartered used car trading platform Carsome has achieved a valuation of $1.3 billion with the close of an extended Series D funding round worth $170 million.
Thai bank joins $41m round for local crypto platform
Thailand’s Bank of Ayudhya has joined a $41 million Series B round for local cryptocurrency exchange operator Zipmex.
Deal focus: Singapore's Doctor Anywhere raises $65m Series C
Doctor Anywhere’s omnichannel approach to digitizing Southeast Asian healthcare is luring investors with eyes on the pandemic’s most logical trend. Preserving a first-mover advantage is the challenge
Deal focus: EmergeVest turns to Lucy for financial inclusion
EmergeVest has made a seed investment in Lucy, a Singapore-based neobank that focuses on home-based micro-entrepreneurs and Southeast Asia’s legions of foreign domestic workers
Baring buys enterprise tech player Straive from Partners Group
Baring Private Equity Asia is poised to add to its enterprise technology portfolio with the acquisition of Straive – a Philippines-based outsourcing business previously known as SPi Global – from Partners Group.
Vietnam's Mekong invests $10m in real estate portal
Mekong Capital has invested $10.2 million in Rever, a leading online-to-offline real estate brokerage business in Vietnam.
Start-up profiles: Digital banking, embedded finance, crypto banking
The Philippines’ Tonik breaks ground in neo-banking; India’s YAP finds new ways to connect banks with their customers; Singapore’s Matrixport scales fast with decentralized finance
