Southeast Asia
Singapore VC closes food tech fund at $34m
Singapore’s Good Startup, a food technology investor focused on alternative protein, has closed its debut VC fund with USD 34m in commitments.
Tiga SPAC to merge with San Vicente-owned Grindr
Grindr, a LGBTQ+ dating app acquired by an investor group after its Chinese owner violated foreign investment regulations, has agreed to merge with a special purpose acquisition company (SPAC) sponsored by Singapore-based Tiga Investments.
Thailand payments company Opn raises $120m
Thailand-based payments technology provider Opn, also known as Synqa and Omise, has raised USD 120m from a group including MUFG Bank.
Deal focus: Square Peg supports LottieFiles' push for scale
LottieFiles has carefully cultivated an investor base that can participate in its bid to capture even more demand from companies keen to plug motion graphics into their apps and websites
East closes $550m in early-stage and growth funds
Indonesia’s East Ventures has closed two funds with a combined USD 550m in commitments for its early-stage and growth strategies.
Singapore's Fullerton tokenises PE fund-of-funds
Singapore’s Fullerton Fund Management has tokenised its latest private equity fund-of-funds, allowing for a minimum commitment size of USD 10,000.
Emerging Asia start-ups: Governance revisited
Even a modest cooling off from tech investment euphoria experienced in the peak of the pandemic could reveal big cracks in Asian start-up markets. Diligence efforts are ramping up, but is it enough?
Mekong invests $25m in Vietnam insect feed company
Vietnam private equity firm Mekong Capital has invested USD 25m Entobel, a company that makes insect-based ingredients for the animal feed, pet food, and fertiliser industries.
Wellington Management hires Asia fundraiser
Wellington Management has recruited Xiaying Zhang, formerly head of Hamilton Lane’s Singapore office, to lead fundraising efforts for its private investment strategies in Asia Pacific.
Nexus Point acquires Hong Kong freight forwarding business
Nexus Point Capital, which makes middle-market control investments in Greater China, has acquired a majority stake in Hong Kong-headquartered freight forwarding business Honour Lane Shipping (HLS).
Singapore's Resolution hits first close on fintech VC fund
Resolution Ventures, a Singapore-based financial technology investor set up last year, has reached a first close of undisclosed size on its debut Southeast Asia seed fund. The target is USD 20m.
Square Peg backs US, Malaysia-based LottieFiles
Square Peg Capital has led a USD 37m Series B round for US and Malaysia-based motion graphics platform LottieFiles.
Q&A: ZWC Partners' Michael Yao
Michael Yao, a partner at ZWC Partners, discusses valuations, exit obstacles, and artificial intelligence in China, as well as the scope for applying China knowledge in Southeast Asia
LP interview: British International Investment
British International Investment, formerly CDC Group, is doubling down on an already massive Asia program as it heeds the call for climate action. Specialist funds are the priority
Fund focus: MassMutual Ventures widens remit
Having started a Southeast Asia specialist, MassMutual Ventures has broadened its regional coverage to include everything outside of China. Europe is also part of the equation for Fund III
Singapore's Neuron Mobility gets $43.5m
Singapore-based e-scooter rental start-up Neuron Mobility has raised USD 43.5m in Series B funding co-led by GSR Ventures and Square Peg Capital.
Singapore mRNA vaccine developer raises $140m
RVAC Medicines, a Singapore-based company involved in developing messenger RNA (mRNA) vaccines for COVID-19, has closed a Series B round that takes its overall funding to USD 140m.
Venturi closes debut SE Asia, India consumer fund on $175m
Venturi Partners, a Singapore-based consumer-focused investment firm established by a former Verlinvest executive in the region, has closed its debut fund on USD 175m.
Quadria eyes $1b for Fund III, emphasizes health-tech
South and Southeast Asia healthcare specialist Quadria Capital is broadening its scope to include areas such as healthcare technology and digital health insurance for Fund III, which is expected to be up to USD 1bn in size.
Vulcan leads $65m Series B for Singapore's Bandlab
Vulcan Capital, an investment vehicle established by Microsoft co-founder Paul Allen, has led a USD 65m Series B round for Singapore-based social music platform BandLab.
MassMutual Ventures raises $300m for Asia, Europe
MassMutual Ventures (MMV), a global venture capital firm that counts US-based Massachusetts Mutual Life Insurance as its sole LP, has launched a USD 300m fund that will invest in Asia Pacific and Europe.
General Atlantic leads $300m Series D for Biofourmis
Biofourmis, a Singapore founded and now US-based operator of a health analytics platform, has achieved unicorn status with the closing of a USD 300m Series D round led by General Atlantic.
Deal focus: KV Asia finds another way into PPE
Malaysia’s G.B. Industries is already a leading global player in the electrical personal protective equipment space. KV Asia aims to drive growth by professionalising the family-run business
Fund focus: Openspace begins growth story
Openspace Ventures has raised USD 200m for a fund that will primarily do follow-on rounds for existing portfolio companies. There is plenty of activity, but uncertainty lurks in the background