Southeast Asia
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
Asia credit: Shift in the cycle
Private debt investors in Asia are mindful of mounting global risks, but they also see opportunities emerging within the region across the capital structure
IFC looks to back Circulate Capital's second fund
The International Finance Corporation (IFC) has proposed a USD 10m commitment to Singapore-based Circulate Capital’s second fund dedicated to reducing plastics pollution.
Venturi leads $55m Series C for Singapore's Believe
Venturi Partners, a consumer-focused investment firm established by a former Verlinvest executive in Asia, has led a USD 55m Series C round for Believe, a Singapore-based consumer products company aimed at Muslim consumers.
MSPEA buys control of Singapore-listed APAC Realty
Morgan Stanley Private Equity Asia (MSPEA) as agreed to buy Northstar Group’s majority stake in APAC Realty, a Singapore-listed real estate services company in Asia, for SGD 129.5m (USD 94.2m).
GIC spinout seeks $750m for SE Asia growth deals
Growtheum Capital Partners, a private equity firm established by the former head of GIC’s direct private equity investment group in Southeast Asia, has achieved a first close of approximately USD 400m on its debut fund.
Openspace closes SE Asia growth fund on $200m - update
Southeast Asia-focused Openspace Ventures closed its debut growth fund on target at USD 200m in the first quarter of 2022 and has already committed nearly half the corpus.