Southeast Asia
Deal focus: GFS brings Navis meaty returns
Having acquired Golden Foods Siam from a foreign parent that didn't want it and given management the resources to pursue expansion, Navis Capital Partners has sold the business to a strategic buyer for a 3.4x return
Venturra invests in Singapore's BitX
Venturra Capital, the recently launched Southeast Asia VC firm sponsored by Lippo Group, has invested an undisclosed amount in Singapore-based bitcoin start-up BitX.
TPG buys 50% of Myanmar spirits producer
TPG Capital has acquired a 50% stake in Myanmar Distillery Company Group (MDC), the Southeast Asian country’s leading manufacturer and distributor of spirits, including top domestic whisky brand Grand Royal.
Singapore biotech firm Aslan Pharma raises $34m
Singapore-based biotech developer Aslan Pharmaceuticals has raised $34 million in a Series C round led by Accuron Technologies, a subsidiary of government-sponsored investment firm Temasek Holdings.
Thai Union abandons acquisition of Lion Capital's Bumble Bee
Thai Union Frozen Products’ $1.5 billion acquisition of Bumble Bee Seafoods from Lion Capital has been abandoned after the US Department of Justice informed the companies that it was concerned the deal would harm competition.
Didi Kuaidi, Ola, Lyft, GrabTaxi form global partnership
Ride-hailing apps including India's Ola, China's Didi Kuaidi, Southeast Asia's GrabTaxi and US-based Lyft have announced a strategic global partnership.
Singapore beauty app Vanitee secures $3.5m
Singapore-based beauty services booking app Vanitee has closed its first round of funding at S$5 million ($3.6 million).
VC-backed PropertyGuru buys Indonesia's RumahDijual
PropertyGuru, a Singapore-based online real estate portal backed by TPG Capital, Square Peg Capital and Emtek Group, has bought Indonesian property listings site RumahDijual for an undisclosed sum.
Navis agrees $360m sale of Golden Foods Siam to Brazil's BRF
Navis Capital Partners is set for a 3.4x return on Thailand-based poultry producer Golden Foods Siam (GFS), having agreed to sell the company to BRF, a leading processor of chilled foods in Brazil, for $360 million.
Southeast Asia fundraising: Growing pains
Beyond Navis Capital and Northstar Group, there are few Southeast Asia-focused GPs of meaningful scale. The lack of integration between markets in the region remains an issue
Northstar closes PE fund at $810m, VC fund at $89m
Northstar Group has reached a final close of $810 million on its fourth fund, which targets Southeast Asia, with a particular focus on Indonesia. Meanwhile, the firm’s VC unit, NSI Ventures, has closed its debut fund at $89 million.
EMR consortium to buy Indonesia gold mine for $775m
Australian resources-focused investor EMR Capital is leading a consortium that has agreed to buy an Indonesia-based gold mine from Hong Kong-listed G-Resources for $775 million, including debt.
Venturra leads $4m round for Malaysia's Kaodim
Venturra Capital, a Southeast Asia-focused VC fund sponsored by the Lippo Group, has led a $4 million Series A round for Malaysian local services marketplace Kaodim.
Lakeshore closes first Thailand fund at $60m
Lakeshore Capital Asia has closed its first Thailand-focused fund - one of the few such vehicles, if not the only fully institutional player - at $60 million.
Indonesia's Bhinneka gets $22m from Ideosource
Indonesia-based venture capital firm Ideosource has committed $22 million to online electronics retailer Bhinneka.
Vertex launches $200m captive fund for SE Asia, India
Vertex Venture Holdings, the VC arm of Singapore-based Temasek Holdings, has launched a $200 million captive fund for investments in India and Southeast Asia.
Singapore's Golden Gate commits $4m to six start-ups
Singapore-based early stage investor Golden Gate Ventures will commit more than $4 million to six Southeast Asian start-ups.
Indonesia's Convergence Ventures agrees partnership with Baidu
Convergence Ventures, an early-stage venture capital firm based in Indonesia, has agreed to a financial and strategic partnership with Chinese search and web services giant Baidu.
Profile: Navegar's Honorio Poblador IV
The launch of Philippines-focused Navegar represented another breakthrough for Asian private equity. For Honorio Poblador IV, the firm’s managing partner, it was more than a decade in the making
Deal focus: KKR eyes Asia content
KKR teams up with The Chernin Group to create Emerald Media, a growth investment platform dedicated to Asia's media and entertainment industry
Biosensors agrees to CITIC Private Equity buyout
The board of Singapore-listed medical devices manufacturer Biosensors International has accepted a buyout offer from CITIC Private Equity that values the company at approximately S$1.4 billion ($996 million).
Southeast Asia investments reward prepared GPs - AVCJ Forum
Southeast Asia has a lot to offer GPs who can handle its unique challenges and capabilities, recent economic volatility and the impact of China's slowdown notwithstanding, investors told the AVCJ Forum.
Southeast Asia cleantech: Shifting priorities?
Cleantech has struggled to establish itself in Southeast Asia due to lack of prioritization from both the public and private sectors. But investors can make headway if the projects appeal on a pragmatic basis
Q&A: Creador's Brahmal Vasudevan
Creador targets mid-market investments in Southeast Asia and India. CEO Brahmal Vasudevan explains why he sees limited competition outside of India, and why he’s excited about the Philippines