Southeast Asia
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
Temasek launches decarbonisation investment platform
Singapore’s Temasek Holdings has committed an initial SGD 5bn to a newly launched platform designed to make investments that accelerate decarbonisation globally.
Indonesia crypto player Pintu gets $113m Series B
Indonesia crypto wallet and trading platform Pintu has raised a USD 113m Series B round from Intudo Ventures, Lightspeed Venture Partners, Northstar Group, and sector specialist Pantera Capital.
Indonesia social commerce player Super raises $70m
NEA has led a USD 70m Series C round for Super, an Indonesia-based social commerce platform that targets the country’s lower-tier cities and rural areas.
Indonesia grocery delivery player Astro raises $60m
Indonesia-based on-demand grocery delivery platform Astro has secured USD 60m in Series B funding led by Accel Partners, Citius, and Tiger Global Management.
Deal focus: Bud puts content creators first
GGV Capital first backed Bud before the founders had a market-ready product. Now the company has closed a Series B round and is looking to take its user-generated content tools into more markets
Fullerton reaches $100m first close on Thai PE fund
Singapore’s Fullerton Fund Management has hit a first close of USD 100m on its first Thai private equity strategy in partnership with KBank Private Banking, a division of local lender Kasikorn Bank.
Fund focus: Eurazeo has SE Asia insurance tech covered
France-based Eurazeo has set up a USD 200m Southeast Asia VC fund dedicated to insurance technology with an unnamed global insurance company as the lone LP
Profile: Silverhorn’s Bert Kwan
During a career that has seen both highs and lows, Bert Kwan has demonstrated an ability to back growth opportunities in Asia’s emerging markets. He is planning on more of the same at Silverhorn
Singapore's VC-backed One Animation acquired by UK strategic
One Animation, a VC-backed, Singapore-based cartoon studio, has been acquired by Moonbug Entertainment of the UK for an undisclosed sum.
GIC leads $80m round for Indonesia's Bibit
GIC has led an USD 80m funding round for Bibit, operator of one of Indonesia’s largest robo-advisory investment apps. Prosus Ventures and other existing investors also took part.