Southeast Asia
2Q analysis: Still scrambling
State-supported deals prop up Asia private equity investment; GPs hustle for liquidity in an unforgiving exit landscape; ex-China mid-market players gain some traction in fundraising
Ares to buy Asia's Crescent Point
Crescent Point Capital, a China and Southeast Asia-focused private equity firm with around USD 3.8bn in assets under management (AUM), has agreed to a 100% acquisition by Ares Management.
Tembusu launches Singapore multi-family office
Tembusu Partners, a Singapore-based boutique private equity investment firm, has launched a multi-family office in conjunction with Reuss Private, a Swiss wealth management business.
Antler expands into Malaysia through Khazanah partnership
Singapore-based accelerator and VC investor Antler is opening an office in Kuala Lumpur as it becomes the latest GP to join Khazanah Nasional’s Future Malaysia Programme.
Valuation adjustments hit Temasek's returns
Singapore’s Temasek Holdings flagged the abrupt reversal of a two-year ramp-up in valuation gains on its global direct investments across technology, healthcare, and payments on posting its worst annual return since 2016.
Quadria to exit Vietnam's FV Hospital via $381m trade sale
Quadria Capital is set to exit Vietnam’s FV Hospital after a strategic buyer agreed to a USD 381.4m acquisition touted as the largest ever healthcare transaction in Vietnam.
Deal focus: COPE moves fast with Malaysia petfood play
Recognising a local champion in a pandemic-proof category, COPE Private Equity flipped a significant minority stake in Malaysian petfood maker Pet World in just over two years
Tower Capital buys payments unit from Singapore's DBS
Tower Capital Asia has completed the fourth investment from its debut Southeast Asia fund – taking deployment past 60% - with the acquisition of a majority stake in payment solutions provider AXS from DBS Bank.
Indonesia's eFishery closes $200m Series D
Indonesian aquaculture start-up eFishery has closed a USD 200m Series D round led by Abu Dhabi-based 42XFund and featuring Northstar Group and 500 Global.
Antler appoints Indonesia-based partner
Singapore-based accelerator and VC investor Antler has engaged Agung Bezharie Hadinegoro, an entrepreneur formerly of East Ventures, as a partner based in Indonesia.
500 Global backs debut fund from Singapore's First Move
500 Global has backed the debut fund raised by Singapore’s First Move, a pre-seed VC firm set up by former executives of Malaysian online-to-offline commerce services provider Fave.
Amara backs Cambodian hotpot restaurant chain
Cambodian private equity investor Amara Capital has invested an undisclosed sum in local hotpot restaurant operator KFK Holdings.
Japan procurement marketplace secures $89m Series C
Six Japanese venture capital firms have led a Series C round of USD 89m for Caddi, operator of a B2B procurement marketplace that services the manufacturing sector.
LP interview: Dietrich Foundation
The Dietrich Foundation, which has one of the highest China PE and VC allocations of any US LP, is cautious on the market but not disengaged. Meanwhile, India and Southeast Asia are becoming more interesting
Muzinich closes debut Asia debt fund on $500m
Muzinich & Co has closed its debut Asia private debt fund on USD 500m. It aims to provide flexible financing to underserved middle market companies regionwide.
ResponsAbility raises $106m for climate-agri debt fund
Swiss impact investor ResponsAbility has raised USD 106m for a global climate-smart agriculture and food private debt fund that will be 40% deployed in Asia.
RTP Global collects USD 1bn for early-stage investments
RTP Global, a global early-stage venture capital firm that has made nearly 50 investments in India and Southeast Asia, has announced the launch of its fourth fund with USD 1bn in commitments.
Creador buys 40% stake in Malaysia's Pet World, COPE exits
Malaysia-based Creador has acquired a 40% stake in prominent local pet food maker and brand owner Pet World, setting up an exit for COPE Private Equity.
Singapore T-cell therapist gets China government funding
Singaporean T-cell immunotherapy company Lion TCR has raised USD 40m in its second tranche of Series B funding. Guangzhou Industrial Investment and Capital Operation Holding Group led the round.
Deal focus: LeapFrog taps Asian appetite for impact
A multi-fund commitment from Hong Kong’s AIA Group to LeapFrog Investments underscores growing interest in impact strategies among Asian LPs as they hone social mandates
Illuminate Financial closes $235m VC fund, targets Asia
Illuminate Financial, a UK-headquartered GP with a base in Singapore, has closed its third fintech VC fund on USD 235m amidst plans to expand activity in the region.
Australia's Challenger Funds acquires stake in Proterra Asia
Challenger Funds Management, one of the largest active asset managers in Australia, has acquired a stake in Singapore-based PE firm Proterra Investment Partners Asia from Australia’s Pacific Current Group.
KKR shuffles senior roles in Asia
KKR has reorganised its Asia leadership team, with Ming Lu, the firm’s regional head, Hiro Hirano, the co-head of private equity, set to become executive chairman and deputy executive chairman, respectively.
Southeast Asia's Go-Ventures rebrands, raises $240m
Go-Ventures, an early to growth-stage investor established by Southeast Asian super app GoTo, has rebranded as Argor Capital Management and raised USD 240m for its second generation of funds.