Southeast Asia
Singapore digital family office platform raises $90m
Arta Finance, a digital family office start-up established by Caesar Sengupta, the Singapore-based former head of Google’s Next Billion Users initiative, has raised USD 90m in Series A funding.
Q&A: China Creation Ventures' Wei Zhou
Wei Zhou, founder of China Creation Ventures (CCV), on why local GPs are targeting Southeast Asia, working with Chinese entrepreneurs overseas, and the prospects for renminbi and US dollar funds
Fund focus: BPEA Credit spins out, closes Fund III on $475m
Baring Private Equity Asia's credit unit has entered a new phase as an independent manager with a fund more than three times larger than the previous vintage
65 Equity invests $107m in Singapore's Cityneon
Temasek Holdings-backed 65 Equity Partners has invested SGD 150m (USD 107m) in Singapore’s Cityneon, a company that markets entertainment brands by staging elaborate events, displays, and exhibitions.
Taking PE in-house: Less limited partners
Institutional investors continue to pursue more active roles in private equity, even as a souring macro backdrop makes the game harder to play. Talent is always the key variable
Philippines fintech start-up gets $16m Series A
Abu Dhabi’s ADQ has backed a USD 16m Series A round for a Philippines-based financial technology start-up founded by former executives of Russian digital banking leader Tinkoff Bank.
VC-backed Singapore biotech start-up agrees SPAC merger
Singapore’s AUM Biosciences, a VC-backed oncology treatments developer, has agreed to a NASDAQ listing via special purpose acquisition company (SPAC) at a pre-money equity valuation of USD 400m.
Pavilion backs Singapore influencer platform
Temasek Holdings-owned Pavilion Capital has joined a USD 7m round for Singapore’s Partipost, which claims to be Asia’s fastest-growing crowd influencer marketing and commerce platform.
Indonesia solar start-up raises $33m Series A
Indonesia’s Xurya, a solar power rental and installation start-up, has lifted its Series A round to USD 33m with new commitments from Mitsui & Co and local property conglomerate Surya Semesta Internusa.
Warburg Pincus commits $350m to SE Asia insurance platform
Warburg Pincus has seeded a digital insurance platform for Southeast Asia with a USD 350m equity commitment and two recent acquisitions from Spain-headquartered insurance giant Mapfre.
Advantage recruits partner, co-head for Asia ex-Japan
Japan’s Advantage Partners has hired Rahul Bhargava, previously of ADV Partners, as a partner and co-head of Asia ex-Japan. It coincides with the acquisition of a Japanese jewellery industry supplier.
Singapore's Bolttech hits $1.5b valuation with Series B
Singapore's Bolttech, an insurance technology provider set up by Pacific Century Group in 2020, has raised an undisclosed sum in Series B funding, claiming a valuation of USD 1.5bn.
Strategic players converge in Indonesia waste start-up Series A
Indonesia’s Waste4Change signalled broad appetite for exposure to local waste management services with a USD 5m Series A round featuring a diverse range of strategic backers.
SIG leads Series B extension for SE Asia payments start-up
Southeast Asia-focused B2B payments specialist Ayoconnect has closed a Series B extension of USD 13m led by SIG Asia. CE Innovation Capital and Prosus-owned PayU also took part.
Asia PE investment sees significant drop-off in third quarter
PE investment in Asia reached USD 36.8bn in the third quarter of 2022, its lowest level since activity seized up in the early stages of COVID-19, with notable declines in India and Southeast Asia.
US logistics AI start-up gets $100m for Asia entry
US-based Altana Technologies, an artificial intelligence (AI) and analytics provider for the logistics industry, has raised USD 100m in Series B funding with plans to open a Singapore office in early 2023.
East leads $10m round for Indonesia fintech player Alami
East Ventures has led a USD 10m pre-Series B round for Indonesia’s Alami, a sharia-compliant financial technology provider and small business lender.
Insignia invests $10m in Thai beauty start-up
Insignia Ventures Partners has provided USD 10m in Series A funding to Thailand’s Konvy, a 10-year-old beauty e-commerce start-up.
Deal focus: Food app targets Thailand's first internet IPO
Thai restaurant delivery app Line Man Wongnai has leveraged the massive messaging service penetration of its parent company to position itself for what is hoped to be a breakthrough IPO
3Q analysis: Lean times
A flicker in India fails to disguise a miserable quarter for exits; a handful of fast fundraises snap Asia out of its slump; investment gravitates towards developed markets and manufacturing
Fund focus: Dymon Asia completes quickfire fundraise
Careful – and protracted – cultivation of prospective LPs and relatively strong performance for Southeast Asia helped Dymon Asia Private Equity secure USD 650m for its third fund
Searchlight backs Singapore's Synergy Marine Group
US-based Searchlight Capital Partners has taken a minority stake in Singapore’s Synergy Marine Group, a shipping fleet manager and maritime services provider, for an undisclosed sum.
Proterra backs Singapore biodiesel player
Specialist food and agriculture investor Proterra Investment Partners has agreed to invest in Aperion Bioenergy, a Singapore-based bioenergy producer that sources used cooking oil for feedstocks.
Dymon Asia closes Fund III at $650m hard cap
Dymon Asia Private Equity (DAPE) has closed its third Southeast Asia middle market private equity fund at a hard cap of USD 650m, beating a target of USD 550m.