Southeast Asia
Openspace completes first close on Southeast Asia VC fund
Openspace Ventures has achieved a first close of more than $90 million on its third Southeast Asia fund, which has an overall target of $200 million.
Fund focus: B Capital begins second innings
Growth capital investor B Capital expects enterprise services to feature prominently in its Fund II portfolio as technology ecosystems in Southeast Asia and India continue to develop
Corporate VC in Asia: Moment of truth
Cutting non-core operations is the standard corporate response to an economic downturn. Companies in Asia must decide whether the long-term benefits of exposure to new technologies outweighs short-term pain
Indonesia's Social Bella raises $58m Series E
Social Bella, an Indonesian online services provider for the beauty and personal care industry, has raised $58 million in Series E funding.
Sequoia raises $1.35b for India, Southeast Asia
Sequoia Capital closed its latest set of funds for deployment in India and Southeast Asia with $1.35 billion in commitments.
Singapore's Indies raises $100m for third PE, credit fund
Indies Capital, a Singapore-based GP focused on Indonesia, has reached a first close of $100 million for its third flagship private equity and credit fund.
LP interview: FMO
Dutch impact investor FMO has maintained significant appetite for private equity and developing Asia with relatively few resources at its disposal. Fintech is the next frontier
Clime seeks $50m for Southeast Asia clean energy fund
Clime Capital, a newly established cleantech investor based in Singapore, has launched a clean energy fund for Southeast Asia targeting $50 million.
B Capital closes second fund at $820m
B Capital Group, a US-based VC with a presence in Singapore and a significant Asia portfolio, has closed its second global fund at $820 million.
Deal focus: Ascent envisions 10-year Myanmar play
In internet service provider Frontiir, Ascent Capital believes it has a portfolio company that can deliver profit and positive social impact in Myanmar
Medical devices: Proceed with caution
Medical devices has become a difficult place to invest but potentially all the more rewarding for those willing to take the plunge. Asia is in a prime position globally
MBK-owned Accordia Golf to buy courses from Singapore trust
Japan’s Accordia Golf, which was acquired by MBK Partners in 2017, has agreed a S$804.1 million ($577 million) privatization of a Singapore-listed trust it established six years ago as the holding entity for 88 golf courses.
Lightspeed leads round for Singapore mapping software player
Lightspeed India Partners and Falcon Edge Capital have led a $7 million Series A round for Nextbillion, a Singapore-based provider of artificial intelligence-enabled mapping software solutions.
East Ventures reaches $57m first close on eighth fund
Indonesia’s East Ventures has reached a first close of $57 million on its eighth fund. The target is $88 million.
Tencent buys Malaysia streaming platform Iflix
Tencent Holdings has agreed to acquire the assets of Malaysia-headquartered streaming platform Iflix, which was previously backed by a number of private equity and strategic players.
Indonesia's BRI Ventures launches fund
BRI Ventures, a unit of Bank Rakyat Indonesia, has launched a locally incorporated fund that will invest local start-ups.
Ascent Capital backs Myanmar internet provider Frontiir
Ascent Capital, a Singapore-based private equity firm, has made its debut investment in Myanmar by leading a $26 million commitment to internet service provider (ISP) Frontiir.
Deal focus: KKR's Vietnam macro proxy
KKR's investment in Vietnam property developer Vinhomes is supposed to tap into infrastructure development as well as the home-ownership ambitions of a burgeoning middle class
Profile: Kejora Ventures' Sebastian Togelang
Looking for new business opportunities, Sebastian Togelang returned to Indonesia from Germany to invest in technology start-ups. He counsels entrepreneurs that it pays to be part of a larger platform
Clifford Capital takes 50% stake in Singapore's Pierfront
Singapore-based infrastructure investor Clifford Capital has acquired a 50% stake in local private credit and mezzanine player Pierfront Capital for an undisclosed sum.
Asia lending start-ups: Bump in the road
Digital lenders in emerging markets need to survive a tricky year under the shadow of potential defaults, but the survivors might become significant players in a renewed financial landscape
Fund focus: Beenext targets a world beyond the mirrors
Beenext Capital Management has expanded its LP base while maintaining fund size discipline. This is born of a philosophy that capacity for cross-pollination is more important than capacity for deployment
Southern Capital, HPEF agree exit from Singapore school
Southern Capital Group and HPEF Capital Partners – formerly Headland Capital Partners – have agreed to sell Singapore-based Canadian International School (CIS) to Hong Kong-listed China Maple Leaf Educational Systems for S$680 million ($488 million),...
SCB 10X, Sparx lead $80m round for Thai fintech player
Thailand-based financial technology provider Synqa, formerly known as Omise, has raised an $80 million Series C round led by local VC firm SCB 10X and Japan’s Sparx Group.