Southeast Asia
The crystal ball: Predictions for 2021
Industry professionals process the upheavals of 2020 to inform outlooks for a range of markets and investment themes. Realist bullishness abounds
2020 in review: Surprise guest
The coronavirus pandemic has played havoc with Asian private equity, contributing to a resurgence in IPOs, increased bifurcation in fundraising, a rush for healthcare, and a generally staggered revival
Deal focus: Everstone secures 3x return on outsourcing play
Everstone Group helps outsourcing specialist Everise adapt to the work-at-home realities of the day before exiting the business to Brookfield Asset Management
CVC backs Philippines logistics provider
CVC Capital Partners has invested an undisclosed sum in The Fast Group, which claims to be the largest third-party logistics provider in the Philippines.
Australia's Square Peg closes third VC fund at $450m
Australian’s Square Peg Capital has closed its third fund at A$600 million ($450 million). It is now said to be the best capitalized VC in the country with A$1.4 billion in funds under management.
CVC acquires Myanmar telecom towers business
CVC Capital Partners has agreed to buy Irrawaddy Green Towers (IGT), Myanmar’s largest independent telecommunications infrastructure provider.
UOB, Credit Suisse hit $60m first close on Asia impact fund
UOB Venture Management (UOBVM) and Credit Suisse have raised approximately $60 million in a first closing on their second Asia impact investment fund.
Everstone exits Singapore BPO business to Brookfield
Everstone Group has agreed to sell Everise, a business process outsourcing (BPO) company it formed through the amalgamation of several existing assets, to Brookfield Asset Management.
Asia Partners leads $30m Series D for Malaysia's Carsome
Singapore-based Asia Partners has a led a $30 million all-equity Series D round for Malaysian used car trading platform Carsome.
Asia travel & hospitality: Ready to board?
The outlook for international tourism remains uncertain, but this hasn’t stopped some private equity and venture capital investors targeting travel and hospitality assets in Asia. It pays to be selective
Singapore's Velocity Ventures launches travel fund
Velocity Ventures, a Singapore-based VC firm focused on travel and hospitality, has launched its debut early-stage fund targeting Southeast Asia with a target of $20 million.
TPG, Northstar commit $236m to Japfa's SE Asia dairy business
TPG Capital and Northstar have agreed to pay $236 million for an 80% stake in the Southeast Asia consumer dairy operation of Singapore-listed agribusiness giant Japfa.
KV Asia exits Malaysian grocery retailer to ICG
Southeast Asia-focused private equity firm KV Asia Capital has exited TF Value Mart (TFVM), a Malaysia-based grocery retailer in which it has held a controlling stake since 2016, to Intermediate Capital Group (ICG).
BRI reaches first close on Indonesia fund
BRI Ventures, a unit of Bank Rakyat Indonesia has reached the first close of IDR150 billion ($11 million) on its locally incorporated tech venture fund.
MDI, Finch launch $40m ASEAN fund
MDI Ventures, the corporate VC arm of state-controlled Telkom Indonesia, has teamed up with financial technology investor Finch Capital to form a $40 million fund targeting early-stage investments in Southeast Asia.
500 Startups launches Cambodia division
500 Startups has launched a Cambodian unit in partnership with Khmer Enterprise, a start-up ecosystem support arm of the local government’s Entrepreneurship Development Fund.
Warburg Pincus, Advantage honored at AVCJ Awards
Warburg Pincus and Advantage Partners triumphed in the firm of the year categories at the 2020 AVCJ Private Equity & Venture Capital Awards, with The Carlyle Group and Affinity Equity Partners also among the winners with two trophies apiece.
Investcorp acquires Singapore food company Viz Branz
Investcorp has agreed to acquire Singapore-based Viz Branz, a cereal and beverage brands maker and distributor in China and Southeast Asia, for an undisclosed sum.
Asia consumer & brands: Mark tank
Local consumer brands in developing Asian markets are beginning to displace established global players. Investors are supporting the uprising and contemplating global breakouts of their own
Asia consumer & technology: Multifarious merchants
Technology is changing the way consumers interact with retailers both concrete and virtual. Ramping up the sociability factor has become a priority amid increasingly pervasive mechanization
Ascent closes debut Myanmar fund at $88m
Ascent Capital has closed its debut Myanmar growth fund with $88 million in commitments. It is said to be the largest private equity fund dedicated to the country.
Asia consumer: Sale of the century
The traditionally slow-changing retail sector received an unexpected incentive to smarten up quickly this year. When the dust settles, shopping will never be the same again
Hong Kong insurtech start-up Coherent raises $14m
Coherent, a Hong Kong-based insurance technology company, has raised a $14 million Series A round led by Cathay Innovation, with participation from Franklin Templeton.
Grab leads $100m round for Indonesia e-wallet player
Singapore-based ride-hailing and local services platform Grab has led a $100 million Series B round for Indonesian e-wallet services provider LinkAja.