Technology
General Atlantic leads $300m Series D for Biofourmis
Biofourmis, a Singapore founded and now US-based operator of a health analytics platform, has achieved unicorn status with the closing of a USD 300m Series D round led by General Atlantic.
Vision Fund backs Japan's AI Medical Service
SoftBank Vision Fund 2 has led a JPY 8bn (USD 70m) Series C funding round for AI Medical Service, a Tokyo-based medical technology company that has developed an artificial intelligence-enabled (AI) endoscopy diagnostic solution.
Profile: WestSummit Capital's Raymond Yang
Raymond Yang’s rich entrepreneurial experience in China and the US led to the formation of WestSummit Capital. He continues to draw on this knowledge as technology ecosystems evolve
Fund focus: Openspace begins growth story
Openspace Ventures has raised USD 200m for a fund that will primarily do follow-on rounds for existing portfolio companies. There is plenty of activity, but uncertainty lurks in the background
Hong Kong e-commerce financier secures $250m in debt funding
Hong Kong-based FundPark, a VC-backed liquidity provider for e-commerce merchants, has received an asset-backed securitisation (ABS) facility of up to USD 250m from Goldman Sachs.
Dream Capital leads $120m Series A for India cricket NFT platform
Dream Capital, the corporate venture capital arm of India fantasy sports platform operator Dream Sports, has led a USD 120m Series A for Rario, a specialist in cricket-themed non-fungible tokens (NFTs).
Amazon buys VC-backed Indian social commerce player
GlowRoad, an India-based social commerce start-up that has received several rounds of VC funding, has been acquired by Amazon for an undisclosed sum.
China automation specialist Laiye raises $70m
Laiye Technology, a Chinese artificial intelligence (AI) start-up specialising in robotic process automation (RPA), has raised another extension - of USD 70m - to its Series C round. Hopu Investment took the lead.
Goldman leads Series C for Japan's Rapyuta Robotics
Goldman Sachs has led a USD 51m Series C round for Rapyuta Robotics, a Japan-based developer of collaborative pick-assist robots commonly used in warehouses.
Openspace closes SE Asia growth fund on $200m - update
Southeast Asia-focused Openspace Ventures closed its debut growth fund on target at USD 200m in the first quarter of 2022 and has already committed nearly half the corpus.
Singapore's Coda Payments raises $690m
Singapore-based Coda Payments, a financial technology start-up that helps digital content providers accept payments, has raised USD 690m from Smash Capital, Insight Partners and GIC.
Swiggy leads $180m Series D for India's Rapido
Indian motorcycle taxi platform Rapido has raised USD 180m in Series D funding led by local on-demand delivery platform Swiggy.
Burda's Asia head recruited by Eurazeo
Albert Shyy, formerly head of Asia at Burda Principal Investments (BPI), the investment arm of European technology and media company Hubert Burda Media, has joined Eurazeo in Singapore.
Creaegis targets $500m India fund
Creaegis, an India-based private equity firm established by Prakash Parthasarathy, formerly founding CIO and managing partner of PremjiInvest, is looking to raise USD 500m for its debut fund.
Sequoia promises greater vigilence on governance in India, SE Asia
Sequoia Capital India has pledged a strong response to “wilful misconduct or fraud” in its portfolio following scandals at companies in India and Southeast Asia.
SIG leads $210m round for Philippines fintech player Voyager
Voyager Innovations, a Philippines financial technology company, has raised USD 210m led by SIG Venture Capital at a valuation of USD 1.4 bn.
Arkam secures $106m for debut India fund
Arkam Ventures, an Indian VC firm established by Rahul Chandra, formerly of Helion Venture Partners, has closed its debut fund on USD 106m.
China consumer: Brand power vs traffic might
Private equity investment in China’s consumer sector has fluctuated over the past 18 months in line with the fortunes of portfolio companies. Applying TMT logic to brand building didn’t help
China game engine developer Cocos raises $50m
Cocos Technology, a China-based game engine developer, has raised USD 50m in Series B round from CCB Trust, GGV Capital, and voice and video communication platform Agora.
Sequoia targets USD 7.1bn for latest China vintage
Sequoia Capital has defied a difficult China fundraising environment to set a target of USD 7.1bn for its latest set of funds, which include an expansion vehicle in addition to the existing growth strategy.
Deal focus: Wholesum brings agglomeration to Korea
Drawing inspiration from US-based Thrasio and from his own background in special situations investing, Andrew Joo wants to turn Wholesum into a Korean multi-brand powerhouse
Fund focus: ASEAN finds new inroads to global tech
SeaX Ventures is ramping up its “corporate venture capital-as-a-service” with a significantly upsized second fund and sharpened strategy around deep tech demand in Southeast Asia
China metaverse infrastructure start-up raises $130m
Chinese metaverse start-up Xmov has raised USD 130m in Series B and Series C funding featuring SoftBank Vision Fund, Sequoia Capital China, Northern Light Capital, and Index Ventures.
Indonesia's GoTo raises $1.1b, gains 13% on debut
Indonesia-based ride-hailing service turned super app GoTo, which has numerous private equity backers, gained 13% on debut following an IDR 15.8trn (USD 1.1bn) offering on the Indonesia Stock Exchange (IDX).