Southeast Asia
Singapore medical tech player Ark raises $40m Series A
Ark, a new Singapore-based cancer detection technology company, has received a $40 million Series A round backed by Gaorong Capital and shareholders of medical-focused investor Venturecraft.
Navis exits Malaysia's Alliance Cosmetics to Japanese strategic
Navis Capital Partners has exited Malaysian cosmetics company Alliance Cosmetic Group, maker of the SilkyGirl brand, to Japanese strategic player Mandom for an undisclosed amount.
DEG, Incofin invest $6m in Myanmar's Rent2Own
German development finance institution DEG and Belgium-based impact investor Incofin Investment Management have invested $6 million in Rent2Own, a motorcycle rental firm based in Myanmar.
Singapore's InstaRem raises $20m
Singapore-based financial technology start-up InstaRem has raised $20 million in Series C funding led by Telkom Indonesia and Thailand’s Kasikornbank.
Hillhouse leads round for Chinese B2B finance platform
Yunzhangfang, a Chinese corporate tax and financial management software-as-a-service (SaaS) provider, has raised RMB300 million ($43.2 million) in a Series C round led by Hillhouse Capital.
500 Startups closes Vietnam fund at $14m
500 Startups has closed its Vietnam-focused early-stage VC fund at $14 million, beating a target of $10 million.
IDG, Matrix back $20m round for Singapore's KuCoin
IDG Capital, Matrix Partners, and Neo Global Capital have jointly invested $20 million in Singapore-based cryptocurrency services company KuCoin.
China’s Ucommune gets $200m in Series D round
Chinese co-working space operator Ucommune, formerly named UrWork, has raised $200 million in Series D funding led by All-Stars Investment, with participation from CEC Capital.
EDBI joins $50m round for US-based WalkMe
Singapore’s EDBI has joined a $50 million Series F round for US-based enterprise software provider WalkMe that will drive an Asia Pacific expansion.
Mixed impact on exits as early-stage VC heats up – AVCJ Forum
VCs face new challenges and opportunities in exit markets across Asia as later-stage investors and strategic players participate more deeply in early-stage ecosystems.
Southeast Asia PE outlook: Debatable boom
PE and VC players remain focused on Southeast Asia’s long-term growth trajectory despite gathering macro storm clouds. Valuations remain a bone of contention
China B2B plastics trading platform gets Series C funding
Kuaisuwang, a Chinese B2B trading platform for plastic products, has raised several millions of US dollars in a Series C round of funding from IRPC, a listed Thai petroleum and petrochemicals company.
TEPCO invests in PE-backed Vietnam hydro project
Tokyo Electric Power (TEPCO) has invested in a Vietnam hydropower project in which Nexif Energy, a Southeast Asia-focused energy investment platform backed by Denham Capital, owns a majority stake.
Malaysia to invest $478m in PE, VC matching scheme
The Malaysian government will allocate MYR2 billion ($478 million) to a co-investment scheme that will match investments made in the country by private equity and venture capital funds.
Operational value-add: Active duty
VCs are under pressure to improve operational capacity as competition heats up in Asia’s start-up ecosystems. Methodologies filtering over from the US are finding both disciples and skeptics
China’s LightInTheBox to acquire VC-backed Ezbuy
Chinese online retailer LightInTheBox has agreed to acquire Southeast Asian e-commerce operator Ezbuy for $85.55 million through a share swap.
Operational value-add: Sweat equity
As Asian GPs trial a range of operational value-add strategies with an eye on shifting market dynamics, they are discovering that helping portfolio companies requires self-inspection
Japan’s TEPCO invests in PE-backed Electrify
Electrify, a Singapore-based energy marketplace based on blockchain technology and backed by Japan’s Global Brain, has raised an investment of undisclosed size from TEPCO Frontier Partners, an incubator sponsored by Tokyo Electric Power (TEPCO).
Jungle co-leads $29m round for UK AI developer
Jungle Ventures has joined UK-based venture capital firm Lakestar to lead a $29 million Series A round for Engineer.ai, a developer of artificial intelligence (AI)-enabled software development tools.
Hyundai invests $250m in Southeast Asia's Grab
South Korean car maker Hyundai Motor Group has joined the latest funding round for Southeast Asia ride-hailing app Grab, committing $250 million to deepen the two companies’ existing relationship.
MassMutual sets up $50m Southeast Asia VC fund
US-based Massachusetts Mutual Life Insurance Company (MassMutual) has established a $50 million Southeast Asia-focused VC fund via its in-house financial technology investment unit.
CLSA invests in Singapore e-commerce site
CLSA Capital Partners (CLSA CP) has invested an undisclosed sum in FortyTwo, a Singaporean e-commerce player focused on home furnishings.
PE-backed Merdeka buys stake in Indonesian gold mine
Merdeka Copper Gold, an Indonesian mining company controlled by Provident Capital and Saratoga Capital, has agreed to pay $55 million for a 66.6% stake in a domestic gold operation known as Pani.
INCJ leads $50m round for Singapore's Astroscale
Innovation Network Corporation of Japan (INCJ) has led a $50 million Series D round for Astroscale, a Singaporean space technology company focused on orbital debris removal.