Southeast Asia
Singapore, Thailand blockchain remittance player gets $50m
Singapore and Thailand-based Lightnet, a blockchain-enabled payments and remittance services provider, has raised USD 50m from US-based LDA Capital.
Singapore HR platform Glints raises $50m Series D
DCM Ventures, Lavender Hill Capital, and listed Japanese human resources business Persol Holdings have led a USD 50m Series D round for Glints, a Southeast Asia-focused recruitment and career development platform.
Dymon Asia carves out shipping industry supplier
Dymon Asia Private Equity has agreed a carve-out of Singapore-based shipping industry equipment supplier RAM Spreaders from its German parent Salzgitter Maschinenbau for an undisclosed sum.
AIGF closes second ASEAN fund on $127m
AIGF Advisors, a private equity firm sponsored by Japan’s Mitsubishi Corporation, has closed its second ASEAN-focused fund with JPY 17.3bn (USD 127m) in commitments.
Singapore's Genesis hits first close on second venture debt fund
Singapore-based Genesis Alternative Ventures has reached a first close on its second venture debut fund, having raised nearly half the overall target of USD 150m.
Keppel buys Singapore waste management player 800 Super
Keppel Corporation has purchased a majority interest in Singapore waste management services business 800 Super Holdings, which was delisted in 2019 through a KKR-backed take-private, at a valuation of SGD 380m (USD 273m).
Singapore's TotallyAwesome raises $10m seed round
Singapore’s TotallyAwesome, a digital advertising start-up focused on children’s online safety, has raised a USD 10m seed round featuring US venture debt provider Partner For Growth (PFG).
Denham, Nexif sell Australia, SE Asia energy assets for $1b
Resources-focused GP Denham Capital and power infrastructure company Nexif have agreed to sell jointly held energy assets across Australia and Southeast Asia at an enterprise value of USD 1bn.
Mobility: Batteries and beyond
The electrification of transportation has created a wealth of opportunities in energy saving and storage. Investors across Asia – led by China – are looking at batteries and other technologies
Energy transition case study: Hermina and AIG
Healthcare is not a particularly energy-intensive industry, but specialists such as Quadria Capital are tightening up operations where possible at hospitals
Energy transition case study: Beyonics
Precision manufacturer Beyonics has cut back on truck journeys, switched to gas-fired power, and automated its factories – in the pursuit of efficiencies rather than as part of a specific energy agenda
China blockchain developer Bit raises $13m
Bit, a China, Singapore, and US-based blockchain infrastructure provider set up by former employees of Tencent Holdings, has raised USD 13m in Series A funding led by CMB International.
Asia renewables: Building out
A surge in renewable energy development is expected in the wake of most Asian jurisdictions making net-zero commitments. Investors are bullish on the macro picture but cautious on the detail
Energy transition case study: Ekta
Indonesia’s Ekta, a blockchain ecosystem operator with an eponymous cryptocurrency, has made a mission of curbing electricity usage in a notoriously power-hungry industry
Singapore crypto risk platform extends Series A to $24m
Singapore’s Merkle Science, a predictive crypto analytics platform, has raised USD 24m in Series A funding led by K3 Ventures, Darrow Holdings, and Beco Capital.
Chinese investors back emerging markets e-commerce enabler
Jet Commerce, an e-commerce enabler that helps brands sell into emerging markets, has raised over USD 60m in Series B funding led by Jinqiu Capital, Hidden Hill Capital, and Zhejiang SilkRoad Fund.
Navis exits medical cold chain player to US strategic
Navis Capital Partners has sold 100% of B Medical Systems, a Luxembourg-based biotech cold chain provider with significant Asian operations, at an enterprise value of EUR 460m (USD 469m).
Fund focus: Insignia takes two months to scale up
Insignia Venture Partners received subscriptions to its third fund amounting to twice the size of the final corpus, underlining the appeal of Southeast Asia. The GP is keen to leverage China’s talent exodus
Profile: Anil Ahuja
After pioneering Indian private equity and helping launch some of the biggest movers and shakers in the region, Anil Ahuja called it quits. In some ways, the postscript has been more rewarding
Asia agtech: Work in progress
Global food supply issues and local economic realities are driving more capital into Asia’s agricultural technology space, where business models – from marketplaces to deep-tech – are still being proven
Ex-EQT partner wins funding for Asia ESG services platform
Tak Wai Chung, who until early last year was a Singapore-based partner at EQT, has secured funding for a pan-Asian platform that will provide software solutions to corporates that need to meet environment, social, and governance (ESG) requirements.
Thailand's SCB 10X appoints Mukaya Panich as CEO
SCB 10X, the VC arm of Thailand’s Siam Commercial Bank, has appointed Mukaya Panich, its chief investment and venture officer, as CEO.
Singapore's Singtel pumps $100m into VC arm
Singapore telecom giant SingTel has committed USD 100m to its VC arm Innov8. The investment unit, which operates on an evergreen fund model, has received USD 350m to date.
Deal focus: Creador goes early in digital banking
Only six digital banks are licensed to operate in the Philippines. Enthused by the prospect of helping build one of these select few from the ground up, Creador moved fast to back UnoAsia