Southeast Asia
Korean retailer Shinsegae invests in Southeast Asia's Grab
Korean retailer Shinsegae has invested in ride-hailing and online-to-offline services (O2O) platform Grab, as financial and strategic players from Korea and Japan continue their push into Southeast Asian technology unicorns.
Ex-KKR executive to lead Indonesia's sovereign wealth fund
Ridha Wirakusumah, whose previous roles include serving as a director for Southeast Asia at KKR, has been chosen to lead Indonesia's new sovereign wealth fund.
Myanmar: Coup confusion
Myanmar's isolationism is likely to be harder to maintain this time should the military seek a return to its old ways. Investors are watching and waiting, but should they also be considering the ESG implications?
Asia to play larger role in Eurazeo's second smart city fund
Asia is expected to feature more prominently – in terms of investors and investments – in Eurazeo’s second smart city venture capital fund, which has reached a first close of EUR80 million ($97 million).
Temasek CEO steps down
Ho Ching, CEO of Singapore’s Temasek Holdings will step down from the government-controlled investment fund effective October 1. She will retire her board seat on the same date.
L Catterton recruits SE Asia, India leadership
Consumer-focused private equity firm L Catterton has recruited Yock Siong “Song” Tee and Anjana Sasidharan to leadership positions in Southeast Asia and India, respectively.
CDH exits Singapore equipment rental business
Japanese conglomerate Sumitomo Corporation has acquired Singapore-based construction equipment rental business Aver Asia, facilitating a full exit for CDH Investments.
Temasek impact arm leads Series B for Vietnam dental player
ABC World Asia, the impact investment arm of Temasek Holdings, has led a $24 million Series B found for Kim Dental, a Vietnam-based dental clinic operator. Existing backer Aura Private Equity also participated.
Southeast Asia's shadow capital: Out of the darkness
Shadow capital – non-traditional pools of money held by sovereigns and corporates – has become a fixture in Southeast Asia’s tech space. Start-ups stand to benefit, but they must pick partners with care
EQT loses Singapore-based partner Tak Wai Chung
EQT has seen more turnover in its senior Asia team with the departure of partner Tak Wai Chung. The move comes as the firm looks to expand and reposition its business in the region.
VI Group, SIG lead $15m round for Vietnam's Elsa
Vietnam-based English language education app operator Elsa has raised a $15 million Series B round co-led by local private equity firm VI Group and SIG.
Deal focus: iStox finds firmer footing
A clutch of Japanese investors has validated iStox’s blockchain-enabled digital securities marketplace. Now the Singapore-based start-up is taking the idea to new markets
Prosus Ventures appoints head of Southeast Asia
Prosus Ventures, formerly a VC arm of South African conglomerate Naspers, has engaged Sachin Bhanot as its Singapore-based head of Southeast Asia.
Deal focus: Olympus credit team spins out, gets OMERS backing
Olympus Capital Credit has rebranded as Orion Capital Asia, with OMERS replacing Olympus as the firm’s equity partner. The strategy is unchanged, with COVID-19 helping to drive deal flow
General Atlantic backs Indonesia biotech developer
General Atlantic has invested $55 million in Kalbe Genexine Biologics, an Indonesia-based drug developer focusing on Southeast Asia.
4Q analysis: Growth spurt
Technology-enabled businesses in China and India are the beneficiaries of a resurgence in growth capital deal flow; Japan is the sole stand-out in fundraising; IPOs continue to shine as overall exits struggle
Singapore's iStox raises $50m Series A
A group of Japanese VC investors has backed a $50 million Series A round for Singapore’s iStox, a digital securities platform that deals in private markets.
Fund focus: Novo Tellus closes second Southeast Asia fund at $250m
Although its second fund is considerably larger than its first, Novo Tellus Capital Partners expects to target the same kind of Southeast Asian industrial technology businesses that have succession and expansion issues
Tower Capital hits first close on Southeast Asia fund
Tower Capital, a Singapore-based GP that previously operated on a deal-by-deal basis, has achieved a first close of approximately $250 million on its first Southeast Asia-focused private equity fund.
AVCJ Awards 2020: Deal of the Year - Small Cap: TaniGroup
Openspace Ventures played a key role in helping Indonesian agriculture technology start-up TaniGroup achieve critical mass as COVID-19 weeded out much of the competition
Asia PE investment ends 2020 on a tear
A fourth-quarter surge in growth-stage deal-making took Asia private equity investment to $198.5 billion in 2020, comfortably surpassing the previous year’s total despite the strictures of COVID-19.
Navis invests in Singapore fintech supplier Moneythor
Navis Capital Partners has made an investment of undisclosed size in Moneythor, a Singapore financial technology supplier focused on digital banking.
SEAF hits first close on Southeast Asia women's fund
The Southeast Asia division of US-headquartered impact private equity firm SEAF has reached a first close of at least $16 million for a women’s economic empowerment fund.
AVCJ Awards 2020: Firm of the Year - Large Cap: Warburg Pincus
Whether it is building a logistics platform, backing a take-private or anchoring a growth round for a tech start-up, Warburg Pincus prioritizes local partnerships in Asia