Southeast Asia
Goldman Sachs, TPG back Asia data center player
Goldman Sachs and TPG Capital have led a A$400 million ($306 million) round of funding for AirTrunk, a Singapore-based data center provider that is currently developing facilities in Australia and has plans to expand region-wide.
Singapore proposes simpler regulatory framework for VCs
Singapore should make it easier for venture capital firms to establish themselves locally and take steps to attract more private equity investors to the country as part of efforts to fill the funding gap, a government-appointed panel has recommended.
PE-backed Serba Dinamik raises $135m in Malaysia IPO
Serba Dinamik Holdings, a Malaysian oil and gas services provider backed by CMS Opus Private Equity (COPE), posted a marginal gain on its first day of trading on the Bursa Malaysia after raising MYR600 million ($135 million) in its IPO.
Deal focus: Grab thinks local in Indonesia
Grab will invest $700 million in Indonesia over four years with a view to developing more localized solutions that support the development of its core ride-hailing business as well as promote financial inclusion
Former SCPE ASEAN head Bert Kwan joins Northstar
Bert Kwan, who served as head of ASEAN private equity at Standard Chartered Private Equity (SCPE) until November of last year, has joined Northstar Group as a managing director.
IFC proposes $57m investment in Vietnam bank
The International Finance Corporation (IFC), the investment arm of the World Bank, has proposed a commitment of up to $57 million in Vietnam Prosperity Commercial Joint Stock Bank (VPBank).
Singapore's CXA raises $25m Series B round
The investment arm of Singapore's Economic Development Board (EDBI) and B Capital Group have led a $25 million Series B funding round for Singaporean health technology start-up CXA Group.
Investec leads $19.5m round for Singapore image recognition player
Investec Bank has led a $19.5 million funding round for Trax Image Recognition, a Singapore-based company that uses visual technology to support manufacturers and retailers.
Global Logistic Properties confirms buyout bids
Global Logistic Properties (GLP), a Singapore-listed warehouse operator with a $40 billion portfolio – over half of which is based in China – has confirmed the receipt of multiple buyout offers.
Ride-hailing app Grab launches $100m Indonesia VC fund
Southeast Asian ride-hailing app operator Grab has created a $100 million fund to invest in Indonesian start-ups as part of its expansion plan in the country.
Japan’s Advantage exits GTA TeleGuam to US investor
Japan-based Advantage Partners has agreed to sell its controlling stake in GTA TeleGuam, the principal telecommunications provider on the US island of Guam, to US-based family office Huntsman Family Investments (HFI).
Thailand’s Kuvera leads $3m round for domestic IT start-up
Thai investment firm Kuvera Capital has led a $3 million round of funding for Bangkok-based IT services provider D8.
Indonesia’s BCA launches fintech investment unit
Indonesia’s Bank Central Asia (BCA) has launched a venture capital investment arm that will focus on financial technology.
IFC proposes $150m investment in Thai bank
The International Finance Corporation (IFC), the private investment arm of the World Bank, plans to invest up to $150 million in Thai lender TMB Bank.
Fund focus: TukTuks answers call for Thai exposure
Domestic high net worth individuals and corporates are the major contributors as 500 Startups closes its debut Thailand venture capital fund above target at $15.4 million
PE-backed e-Shang Redwood buys Singapore industrial REIT
E-Shang Redwood (ESR), a pan-Asian logistics services company backed by Warburg Pincus, has moved into Southeast Asia with an agreement to buy 80% of Cambridge Industrial Trust (CIT), a Singapore real estate investment trust (REIT) with assets worth S$1.4...
500 Startups closes Thailand fund at $15.4m
500 Startups has reached a final close of $15.4 million on its Thailand-focused early-stage fund. It had originally targeted $10 million.
Asia secondaries challenged by valuation complications
Valuations remain a key obstacle to securing secondary transactions in Asia, even as a generation of funds becomes a year older and still struggles to generate liquidity, but the market is also growing in complexity due to the nature of the assets on...
Deal focus: Ednovation finds China solution
CDH investments has acquired Tembusu Partners' stake in Ednovation and will commit more capital for a controlling position as it supports the Singapore pre-school operator's China expansion
Fund focus: INSEAD alumni pay it forward
INSEADAlum Ventures, a seed-stage investor focused exclusively on INSEAD alumni, has raised its debut fund from a group of graduates keen to give back to the school where they got their start
China tech players in SE Asia: Strategic outpost
Chinese internet companies increasingly see Southeast Asia as a market that can help counterbalance slowing growth back home. For certain business models, it is an expensive and time-consuming process
VIDEO: Ilfryn Carstairs, Värde Partners
Ilfryn Carstairs, co-CIO of Värde Partners, discusses distress and structured credit opportunities globally and in Asia
Tembusu exits Singapore-based Ednovation to CDH
CDH Investments has acquired a 36% stake in Ednovation, a Singapore-based operator of pre-schools in Southeast Asia and China, from Tembusu Partners in a deal said to be worth more than S$50 million ($35 million).
Carlyle promotes SE Asia buyout head Sunil Kaul to partner
The Carlyle Group has promoted Sunil Kaul (pictured), who leads buyout operations in Southeast Asia, from managing director to partner. His is one of 62 senior promotions announced by the firm, of which 15 are Asia-based professionals.