Southeast Asia
Sun Hung Kai leads Series B for Singapore digital asset bank
Sygnum, a Singapore and Switzerland-based digital asset bank, has raised a Series B of USD 90m - at a post-money valuation of USD 800m - led by Hong Kong-based investor Sun Hung Kai & Co.
Singapore's Virtue Diagnostics closes $100m Series B
Singapore-based Virtue Diagnostics, a clinical testing equipment supplier for China and developing markets, has raised a USD 100m Series B round led by Sequoia Capital China and Morningside Ventures.
Square Peg backs Vietnam digital bank Timo
Australia-based Square Peg Capital has led a USD 20m investment in digital banking start-up Timo, which claims to be the first Vietnamese player in this space.
Japan's ACA buys Belgian football club
Japanese fund manager ACA Investments has created a football-focused unit under its Singapore-based subsidiary and acquired a club that competes in the second tier of the Belgian league.
Singapore's Azalea raises second fund-of-funds
Temasek Holdings-owned Azalea Asset Management has raised USD 805m for a second fund-of-funds intended to broaden investor access to private equity.
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.