Southeast Asia
BRI invests Indonesia fintech player Ayoconnect
BRI Ventures, the newly launched VC unit of Bank Rakyat Indonesia, has joined a $5 million pre-Series B round for local financial technology provider Ayoconnect.
Intudo leads Series A for Indonesia restaurant app
Wahyoo, a digital solutions provider for Indonesian eateries, has raised $5 million in a Series A round led by Intudo Ventures.
Navis exits Malaysian business solutions player
Navis Capital Partners has sold its controlling stake in Malaysian IT firm Strateq to a local subsidiary of Singapore telecommunications company StarHub.
EDBI backs US cybersecurity player's Asia push
EDBI, the investment arm of Singapore’s Economic Development Board, has invested in Vesta, a US-based fraud and payment technology start-up with ambitions to expand into Asia.
Deal focus: Fave wins endorsement for ecosystem pivot
Having found online-to-offline services and mobile payments too crowded, Malaysia's Fave turned itself into a digitization guide for small businesses. Collaboration with India's Pine Labs should strengthen its offering
BRV Capital invests $110m in Line's Thailand delivery app
Line Man, a parcel-to-food delivery app launched in Thailand by Japan’s Line Corporation, has raised $110 million from BRV Capital, an affiliate of BlueRun Ventures.
Sistema Asia Capital appoints CEO
Sistema Asia Capital, a corporate VC arm of Russian conglomerate Sistema that focuses on India and Southeast Asia, has named Edward Tay (pictured) as CEO.
Navis acquires Cambodia international school
Navis Capital Partners has acquired CIA First International School in Cambodia for an undisclosed sum.
Deal focus: KKR's Vietnam macro proxy - update
KKR - working alongside Temasek Holdings - is using Vinhomes as a means to get exposure to Vietnam's booming property market. Mergermarket and AVCJ offer some additional industry context
De-risking measures limit COVID-19 damage to GIC portfolio
Singapore’s GIC Private said that steps taken last year to de-risk its portfolio – reducing its allocation to equities in favor of cash and evaluating deals with more caution – have limited the negative impact of COVID-19.
Eurazeo backs UK, Singapore-based Thought Machine
Eurazeo Growth, a joint venture between French GPs Eurazeo and Idinvest Partners, has joined a $125 million Series B round for UK and Singapore financial technology player Thought Machine.
Indonesia's Traveloka raises $250m
Traveloka, an Indonesian online travel services company, has closed a funding round of $250 million, reportedly accepting a stepdown in valuation in the process.
Asia online gaming: Game on
Videogaming has outgrown entertainment and media to become a sector unto itself, with new angles for exposure multiplying rapidly. E-sports is an area to watch
Fund focus: Wavemaker turns crisis into opportunity
Wavemaker Partners overcome COVID-19 uncertainty to close its latest fund at $111 million. Enterprise-facing and deep technology companies in Southeast Asia are likely targets
Australia's Square Peg backs Singapore wealth manager
Australian VC firm Square Peg Capital has led a $16 million Series C round for StashAway, a Singapore-based digital financial services provider focused on retail wealth management.
Belt & Road: Circular dynamics
The economic fallout from COVID-19 and an antagonistic geopolitical backdrop have simultaneously stymied and validated China’s Belt & Road infrastructure agenda
LPs call for better communication from Asian GPs - AVCJ Forum
LPs from five global funds say cultural issues and a relative lack of crisis experience have led to difficulties getting quality disclosure from Asian fund managers.
India payments player Pine Labs invests Malaysia’s Fave
Pine Labs, an Indian payments start-up backed by MasterCard, PayPal, and Sequoia Capital India, has invested Fave, a Malaysian e-commerce platform also supported by Sequoia.
Singapore GPs lead round for Israeli drone scouting start-up
Taranis, an Israel drone-based crop monitoring solution provider for farms, has raised $30 million in a Series C round eyeing expansion opportunities in Asian markets.
ASEAN to see rise in opportunities despite high valuations – AVCJ Forum
Industry professionals at the AVCJ Southeast Asia Virtual Forum predicted a rise in regional acquisition opportunities although valuations remain stubbornly high for now.
Singapore marketing SaaS player raises $32m
US-based technology investor Riverwood Capital has led a $32 million Series C round for Insider, a Singapore software start-up that helps companies develop better targeted marketing campaigns.
Canyon Bridge, K2 Venture founders join Asia SPAC wave
Two more groups featuring Asian private equity executives have listed special purpose acquisition companies (SPACs) on US bourses as interest in these structures continues to rise globally.
Singapore’s Her Capital targets $10m for debut fund
Singapore-headquartered venture capital firm Her Capital is seeking to raise a debut $10 million fund to invest in Southeast Asia with a gender lens-focused thesis.
Southeast Asia macro: Encouraging minefield
Southeast Asia benefits from an enviable macro outlook versus other markets, and investment in the region is set to recover relatively quickly. But is that enough?