WestBridge Capital has acquired a majority stake in FundsIndia, an online investment platform that offers access to mutual funds, public equities, and fixed deposit products, for an undisclosed sum.
TA Associates has agreed to sell Honan Insurance Group, an Australia-based insurance broker specializing in corporate risk, employee benefits, and strata and real estate insurance, to Marsh McLennan.
Japanese impact investor and microfinance institution Gojo & Company has secured a USD 100m Series E from a group of local VC investors including Global Brain and Globis Capital Partners.
Mirae Asset Global Investments has invested about USD 17m in a 53% stake in Stockspot, Australia’s largest robo-advisory.
Temasek Holdings and SoftBank Group are named in a US class-action lawsuit that claims investors aided and abetted fraud at collapsed crypto exchange FTX.
The Monetary Authority of Singapore (MAS) has committed to invest up to SGD 150m (USD 111.5m) over three years in the local VC and financial technology start-up ecosystem.
Credgenics, operator of an India-focused software-as-a-service (SaaS) platform specialising in debt collection and resolution, has raised USD 50m in Series B funding at a valuation of USD 340m.
Citi Ventures and MUFG Innovation Partners have joined a USD 35m funding round for Endowus, a Singapore-based digital wealth platform that serves high net worth individuals and public pensions.
Hillhouse Investment, the buyout and growth capital unit of Asia-based Hillhouse Group, has agreed to acquire the fiduciary services business of global offshore law firm Harneys.
Hong Kong’s Micro Connect, a financier for micro, small, and medium-sized enterprises (MSMEs), has raised USD 458m in Series C funding. It did not name the investors.
Singapore-based payments technology provider Nium claims to have doubled its valuation in the past 24 months to USD 2bn with new investors such as US-based Bond and Moore Capital joining the capital table.
BPEA EQT has completed the merger of Asia-headquartered corporate services providers Vistra Group and Tricor Group through a transaction that values the combined business at USD 6.5bn.
Pacific Current Group, a listed Australian asset manager that takes economic interests in third-party investment managers, has become the subject of a bidding war between two industry peers.
TNB Aura has led a USD 17.1m Series A round for Gimo, a Vietnam-based start-up that operates a wage access platform aimed at underbanked workers.
China's Qiming Venture Partners has participated in a USD 25m Series A for P0x Labs, the developer behind blockchain-based privacy services provider Manta Network.
Bain Capital has agreed to acquire 90% of Indian non-bank financial companies (NBFCs) Adani Capital and Adani Housing in a deal worth at least USD 170m.
Singapore’s Thunes, a financial technology provider focused on cross-border transfers in developing markets, has raised USD 72m in Series C funding featuring Visa.
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.
Veritas Finance, an Indian non-banking finance company (NBFC) that issues loans to micro, small and medium-sized enterprises (MSMEs), has raised INR 12bn (USD 145m) in funding led by Multiples Alternate Asset Management.
Indian microfinancier Arohan Financial Services has received DKK 166m (USD 24.3m) from the government of Denmark’s Investment Fund for Developing Countries (IFU).
Hong Kong insurance start-up OneDegree has raised USD 27m from a group including Gobi Partners. It is billed as an extension to a Series B round from 2021, bringing the overall total to USD 55m.
Japan’s Olta, a financial technology provider for small to medium-sized enterprises (SMEs) has raised JPY 2.5bn (USD 17.6m) in Series B funding featuring SBI Investment, Spiral Capital, and DG Ventures.
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.
BPEA EQT and ChrysCapital have agreed to acquire a 90% stake in India-based HDFC’s education finance business at a valuation of INR 103.5bn (USD 1.26bn). It has been described as the largest-ever private equity buyout in the country’s financial services...