Southeast Asia
Jafco closes latest Asia VC fund at $130m
Japanese venture capital firm Jafco has closed its latest Asia fund with USD 130m in commitments. It will focus on China, India, and Southeast Asia.
Indonesia coffee shop start-up achieves unicorn status
Indonesia coffee chain Kopi Kenangan has raised USD 96m in an ongoing Series C round at a valuation of at least USD 1bn. Hong Kong’s Tybourne Capital Management led the investment.
Northstar raises $590m for fifth Southeast Asia fund
Northstar Group has closed its fifth Southeast Asia-focused fund with $590 million in commitments. The target was $800 million.
Vietnam's MoMo secures $200m Series E
Mizuho Bank has led a $200 million Series E round for MoMo, a Vietnam-based mobile wallet provider, at a valuation of more than $2 billion.
Openspace promotes growth fund head to partner
Jessica Huang Pouleur, who was recruited by Openspace Ventures last year to lead the Southeast Asia-focused venture capital firm’s growth equity strategy, has been promoted to partner.
Gulf Capital opens Singapore office
Abu Dhabi-based Gulf Capital has opened a Singapore office and appointed Shantanu Mukerji as its first on-the-ground private equity managing director in Asia.
ADV backs Asia, North America flooring manufacturer
ADV Partners has acquired a significant minority interest in CFL Technologies, a flooring materials business with a presence in multiple locations in the US, China, and Vietnam.
Singapore's 1982 hits $12.5m first close on seed fund
Singapore’s 1982 Ventures has reached a $12.5 million first close on its debut seed fund, which will focus on financial technology in Southeast Asia. The target is $15 million.
Indonesia insurance start-up Fuse raises $25m
Fuse, which claims to be Indonesia’s largest insurance technology start-up, has raised $25 million in a Series B extension. It comes within six months of a $50 million Series B featuring East Ventures.
Deal focus: LingoAce shakes up Chinese class
Singapore’s LingoAce is leveraging growing interest in learning the Chinese language with an entertainment-focused education platform. Sequoia Capital India is backing a global expansion
2021 in review: Boom time
Cheap debt and a desire for assets that deliver technology-driven growth have propelled Asia private equity investment to new highs and supported a resurgence in exits. But fundraising still fails to convince
TPG, ADIA, Temasek join funding round for Vietnam's The CrownX
The CrownX, a Vietnam-based consumer brands and retail business, has raised $350 million in funding from investors including TPG, Abu Dhabi Investment Authority (ADIA), and Temasek Holdings.
Insight makes Indonesia debut in Flip's Series B
Insight Partners has made its first investment in Indonesia, co-leading a $48 million Series B round for consumer payments platform Flip alongside Sequoia Capital India and Insignia Venture Partners.
Circulate hits second close on climate tech fund
Circulate Capital, a Singapore-based GP dedicated to reducing plastics pollution, has reached a second close of $25 million on its second fund.
Navis sells Asia inspection business to CDPQ
Navis Capital Partners has sold its minority interest in Qima, an Asia-focused testing, inspection, and certification (TIC) business to Caisse de dépôt et placement du Québec (CDPQ), following a four-year holding period.
Fund focus: AC Ventures hits its stride early
AC Ventures rallies global investors for an Indonesia-heavy Southeast Asia thesis, more than doubling its expected corpus as pandemic disruption changes everything but the plan
Asia exits: Pass the parcel
Sponsor-to-sponsor exits are set to reach a record high in Asia this year as private equity firms increase velocity of deployment and some strategics remain in a pandemic-induced funk
Chinese language learning platform raises $105m
Singapore’s LingoAce, a Chinese language learning app, has raised $105 million in Series C funding led by Sequoia Capital India. It comes within a year of a $55 million Series B.
Grab completes SPAC merger, sees volatile trading debut
Southeast Asia ride-hailing platform turned super app Grab experienced a tumultuous first day of trading on NASDAQ following the completion of its merger with a US-listed special purpose acquisition company (SPAC) at an enterprise valuation of $30.4 billion....
Indonesia's AC Ventures closes debut fund at $205 million
AC Ventures, an early-stage investor created through the merger of Indonesia’s Agaeti Ventures and Convergence Ventures, has closed its debut fund at $205 million. The target was $80 million.
Portfolio: Dymon Asia and AMES
For all the hubbub about digital businesses taking flight during the pandemic, few categories saw as much upside as traditional medical waste disposal. Dymon Asia Private Equity is enjoying the ride
CDC expands Asia footprint
UK development finance institution CDC Group, already an active investor in South Asia, has announced a strategic pivot toward the broader region with a special interest in Southeast Asia.
CVC exits Malaysia snacks business to Universal Robina
CVC Capital Partners has agreed to sell Malaysia-based snack foods producer Munchy Food Industries to Universal Robina Corporation (URC) – a branded consumer food and beverage business in the Philippines – for MYR1.93 billion ($454 million).
KKR backs Southeast Asia K-12 schools business
KKR has acquired a minority interest in the K-12 schools business of Taylor’s Education Group (TEG), one of the largest private education providers in Malaysia.