Southeast Asia
Indies reaches first close on SE Asia tech secondaries fund
Indies Capital Partners has reached a first close on a Southeast Asia tech secondaries fund, with commitments totaling more than 70% of the $80 million target.
Temasek's portfolio rebounds to record high
Temasek Holdings shook off last year’s retraction in value to post its highest shareholder return in 11 years, with the overall portfolio reaching a record S$381 billion ($281 billion) for the 12 months ended March.
Singapore's Next Gen gets $20m for US push
Singapore’s Next Gen Foods, which markets the vegetarian chicken brand Tindle, has raised $20 million from VCs including GGV Capital, with a view to entering the US.
2Q analysis: Trouble in China
Efforts to rein in China’s technology giants have dampened investor sentiment, with India and Southeast Asia stepping into the void. China remains active for fundraising, but there are fears that US IPO activity could take a hit
Deal focus: Bringing specialization to healthcare
TE Asia Healthcare Partners, a Southeast Asia-focused investor backed by TPG Capital, has launched a long-term plan to add much-needed cardiology hospitals to Indonesia’s healthcare mix
Indonesia's Bukalapak set for domestic IPO
Indonesian e-commerce platform Bukalapak – which counts GIC, and Microsoft among its investors – has unveiled plans to become the first of the country’s technology unicorns to complete a domestic IPO.
TE Asia acquires two Indonesia cardiology practices
TE Asia Healthcare Partners, a Singapore-based hospital platform backed by TPG Capital, has acquired controlling stakes in two Indonesian cardiology centers.
Mekong backs Vietnam cosmetics retailer
Mekong Capital has invested in HSV Group, Vietnam’s largest cosmetics retailer with a network of 105 self-operated stores.
Longreach buys pulp and paper industry supplier from Navis
The Longreach Group has acquired a majority interest in Amazon Papyrus Chemicals Holdings, a Hong Kong-headquartered chemical solutions provider to the pulp and paper industry, from Navis Capital Partners.
Velocity hits first close on Southeast Asia travel fund
Velocity Ventures, a Singapore-based VC firm focused on travel and hospitality, has reached a first close on its debut fund. Commitments stand at 40% of the $20 million target.
Profile: BRI Ventures' Nicko Widjaja
First at MDI Ventures and now at BRI Ventures, Nicko Widjaja has established himself as a pioneer of corporate venture capital in Indonesia. The journey has been long and sometimes bumpy
Deal focus: Carro prioritizes car financing as ecosystem enabler
Southeast Asia’s Carro has achieved critical mass as a used car trading platform, but the start-up regards financial services as the key growth area. It is now backed by SoftBank Vision Fund’s considerable heft
Philippines-based fintech player Voyager raises $167m
Voyager Innovations, a Philippines financial technology company, has raised $167 million in funding from new and existing investors that will support the development of its PayMaya payments service.
Ex-CPPIB CEO joins board of Singapore investment firm
Mark Machin, formerly CEO of Canada Pension Plan Investment Board (CPPIB), has agreed to join Serendipity Capital, a Singapore-based investor specializing in financial services, as a non-executive director.
NewQuest exits BPO business to US GP
NewQuest Capital Partners is exiting Integreon, a business process outsourcing (BPO) provider with a significant Asia footprint to US private equity firm EagleTree Capital.
Singapore's Circulate launches VC fund to disrupt plastics waste
Circulate Capital, a Singapore-based investor dedicated to stemming plastic waste pollution in South and Southeast Asia, has achieved a $14 million first close on a new venture capital fund.
Singapore gene therapy start-up closes $24m Series A
Nuevocor, a preclinical biotech company specializing in gene therapy for heart disease, has closed an oversubscribed Series A round with $24 million in commitments.
Singapore's Venturi achieves first close on consumer fund
Venturi Partners, a Singapore-based consumer-focused investment firm established by a former Verlinvest executive in the region, has completed a $100 million first close on its debut fund.
Vision Fund leads $360m Series C for Southeast Asia's Carro
Carro claims to have become Southeast Asia’s first automotive marketplace unicorn with the completion of a S$477 million ($360 million) Series C round led by SoftBank Vision Fund 2.
Deal focus: A very modern Masan
Baring Private Equity Asia backed Masan Group’s bold plan to transform grocery in Vietnam because it believes the company can create an integrated consumer-retail business that is unique by Asian standards
Fund focus: Plugging ASEAN family offices into global tech
Family offices have helped iGlobe Partners renew a lean and restrained deep tech VC mandate. A global investee network is hoped to facilitate overseas investments amid travel stoppages
Deal focus: Malaysia's Tealive taps PE scaling expertise
Tealive, a teashop brand that has exploded across Malaysia in recent years, is ready for a concerted international expansion. Creador has been brought in to guide the process
Creador takes 30% stake in Malaysia tea brand Tealive
Malaysia-based middle-market private equity firm Creador has paid an undisclosed sum for a 30% stake in local tea shop operator Tealive.
Singapore fintech start-up MatchMove raises $100m
Singapore’s MatchMove, a financial technology start-up with several VC backers, has raised $100 million from US-based IT services provider Nityo Infotech.