Southeast Asia
ADIA to lead pre-IPO round for Indonesia's GoTo
Abu Dhabi Investment Authority (ADIA) has committed $400 million to Indonesia super app GoTo as the lead investor in a funding round ahead of the company’s much-anticipated IPO.
Q&A: 500 Global's Christine Tsai
Christine Tsai, co-founder of 500 Global, formerly 500 Startups, reflects on how a planetary approach to seed-stage VC has changed the asset class, the developing world, and the firm itself
Korea GPs invest $40m in Singapore biotech player
A group of Korean private equity investors has committed $40 million in funding to Cerecin, a Singapore-based biotech developer focused on neurotherapeutics.
Singapore drone services player gets $26m Series B
H3 Dynamics, a Singapore-based autonomous drone data services and hydrogen air logistics start-up, has raised a $26 million Series B round led by Japan’s Sparx Asset Management.
Lightspeed joins $125m round for India virtual events platform
Lightspeed Venture Partners has joined a $125 million Series B round for India-based virtual events platform Hubilo.
3Q analysis: India advances
India technology investment continues to ramp up as China flatlines; international payments M&A drives Asia trade sale revival, but IPOs slump; fundraising remains slow
Deal focus: Digital brokerage Ajaib finds the right fit
Ajaib grew from nothing to become Indonesia’s fifth-largest stockbroker by volume in the space of six months. The newly appointed unicorn is now raising capital just as quickly
East, Vulcan lead $15m Series A for Singapore's Qapita
Qapita, a Singapore-based provider of software used by start-ups to manage cap tables and employee stock ownership plans (ESOP), has raised $15 million in Series A funding.
Indonesia fintech start-up Ajaib achieves unicorn status
Ajaib, an online stock-trading platform in Indonesia, has raised $153 million in a Series B funding round led by DST Global at a valuation of $1 billion.
Ribbit Capital backs Indonesia's Bank Jago
Global financial technology investor Ribbit Capital has thrown its weight behind Bank Jago, an Indonesia-based digital lender established by local private equity firm Northstar Group.
Singapore's Incomlend gets $60m for SME ESG financing program
Singapore’s Incomlend, a financial technology provider for small to medium-sized enterprises (SMEs) has raised $60 million for an environmental, social, and governance (ESG) financing program.
Vietnam NFT start-up Axie Infinity raises $152m
Andreessen Horowitz has led a $152 million Series B round for Vietnam-based non-fungible token (NFT) gaming start-up Axie Infinity, also known as Sky Mavis.
Indonesian e-commerce marketplace Ula raises $87m
Ula, a leading B2B e-commerce marketplace in Indonesia, has raised $87 million in a Series B round co-led by Prosus Ventures, Tencent Holdings and B Capital Group.
PE-backed Oyo targets $1.1b India IPO
Oyo, an India-focused budget hotel platform backed by the likes of SoftBank Vision Fund, is looking to raise up to INR84.3 billion ($1.1 billion) through a domestic IPO.
Thailand's Ascend Money raises $150m
Bangkok-based Ascend Money has raised $150 million from a group of investors including Ant Group, at a valuation of $1.5 billion. It claims to be Thailand’s first financial technology unicorn.
EQT backs cybersecurity training business
EQT has invested in EC-Council, a cybersecurity training and certification business established by a Malaysian entrepreneur, through its Asia mid-market fund.
Singapore online banking player Aspire raises $158m
Singapore-based online banking platform Aspire has raised a $158 million Series B round with support from the likes of B Capital Group.
Deal focus: Southeast Asia's four-trick credit pony
Advance Intelligence Group has used its core risk assessment technology to expand into lending and e-commerce transaction finance and services. Membership of Southeast Asia’s unicorn club is its reward
Singapore's Ninja Van raises $578m Series E
Singapore-based last-mile delivery start-up Ninja Van has raised a $578 million Series E round featuring Alibaba Group.
Asia crypto asset management platform raises $40m
Cobo, a Singapore-based crypto asset management platform and blockchain infrastructure provider, has secured a $40 million Series B round led by DST Global, A&T Capital, and IMO Ventures.
Pacific Century's insurtech business extends Series A to $210m
Pacific Century Group’s insurance technology business, Bolttech, has extended a recent $180 million Series A round to $210 million in total.
SoftBank, Warburg Pincus back Singapore's Advanced Intelligence
Advance Intelligence Group, a Singapore start-up best known for digital identity verification and fraud prevention platform Advance.AI and buy now, pay later (BNPL) business Atome, has raised over $400 million in Series D funding.
Platinum sells Singapore's PCI for $306m
Platinum Equity has agreed to sell PCI, a Singapore-headquartered electronics manufacturing services provider it acquired in 2019, to US-listed Celestica for $306 million in cash.
Singapore plans pre-IPO fund to attract listings
Singapore’s EDB Investments (EDBI) will establish a pre-IPO fund – with an initial commitment of S$500 million ($370 million) – that is intended to encourage high-growth companies to list in the city-state.