Southeast Asia
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?
Asia VC: Vertex's evolving early-stage network
Vertex Holdings’ Chua Kee-Lock likens his network of VC funds seeded by the Temasek-owned entity as a distributed computer system. It will draw down more power as it grows
Wavemaker closes third Southeast Asia fund at $111m
Wavemaker Partners has closed its third Southeast Asia venture capital fund with $111 million in commitments. The target was $100 million.
2Q analysis: Numbers that deceive
Asia has seen remarkable revivals in private equity investment and fundraising – though not in exits – over the past three months. A handful of large-cap situations mask a weak environment
Hong Kong vs Singapore: Onshore overtures
Hong Kong and Singapore both position themselves as the headquarters of choice for private equity firms in Asia. But the competitive dynamics – from politics to structures – are not straightforward
Q&A: Navegar's Honorio Poblador
Honorio Poblador, co-founder at Philippines-based Navegar, explains how his firm is positioning its second fund – newly closed at $197 million – in the face of the COVID-19 downturn
Large-cap vehicles support PE fundraising revival in second quarter
Asia private equity fundraising rebounded from a seven-year low in the first quarter of the year to reach $24 billion for April through June, but commitments were concentrated on a handful of managers.
VinaCapital, Daiwa sell stake in Vietnam dairy producer
Vietnam’s VinaCapital and Japan’s Daiwa PI Partners are poised to make a partial exit from Vietnamese dairy producer International Dairy Products (IDP).
CLSA looks to connect wealthy investors with unicorns
CLSA, the international arm of China-based brokerage CITIC Securities, has launched a strategy to offer high net worth clients investment opportunities in late-stage private companies in Asia.
Navegar closes second Philippines fund at $197m
Manila-based private equity firm Navegar has closed its second Philippines fund with $197 million in commitments. The initial target was $150 million.