German Investment and Development (DEG)
Vertex raises $541m for Southeast Asia, India
Vertex Ventures Southeast Asia and India (VVSEAI), an early-stage investor affiliated with Temasek Holdings-owned Vertex Holdings, has closed its fifth fund with USD 541m in commitments.
Frontier market fundraising: Roads less travelled
As fundraising slows globally, GPs in frontier markets are more dependent than ever on multilateral development banks. That’s not a major problem now, but in a long downturn, it could become one
Integra closes second Southeast Asia VC fund on $90m
Singapore-based early-stage venture capital firm Integra Partners confirmed it has closed its second fund on USD 90m.
DEG leads round for Indonesian mRNA vaccine developer
German development finance organisation DEG has contributed USD 8m as the lead investor in a new funding round for Etana Biotechnologies Indonesia, supported by Yunfeng Capital, HighLight Capital, and East Ventures.
GP profile: Falcon House Partners
Falcon House Partners is one of the few survivors in Indonesia’s promising but challenging middle-market private equity space. Being hands-on is part of the secret
Deal focus: Pakistan’s Dastgyr aspires to emulate Alibaba
SOSV sees parallels between the e-commerce awakenings in Pakistan and China, though 20 years apart. Dastgyr has positioned itself at the fore, but it wants to be asset-light rather than asset-heavy
Pakistan B2B marketplace Dastgyr secures $37m Series A
Dastgyr, a Pakistan-based B2B e-commerce marketplace, has raised USD 37m in Series A funding led by Veon, an Amsterdam-listed telecom provider that owns Pakistan’s largest mobile network.
Jungle closes fourth SE Asia, India VC fund on $600m
Jungle Ventures has reached a final close of USD 600m on its fourth flagship Southeast Asia and India-focused VC fund. The initial target was USD 350m.
LPs look for signs of maturity in Vietnam PE - AVCJ Forum
Institutional investors are encouraged by the progress Vietnam has made in terms of macroeconomic stability and ease of doing business, but they are still waiting for the local private equity ecosystem to reach its next level of maturity.
Indonesia's Sicepat secures $170m Series B
Indonesian logistics start-up Sicepat has raised a $170 million Series B round from investors including Temasek Holdings’ growth-stage PE unit Pavilion Capital.
Asia Partners closes debut SE Asia fund at $384m
Singapore’s Asia Partners has closed its debut Southeast Asia VC fund at $384 million, describing it as the largest-ever first-time technology vehicle focused on the region.
Navegar closes second Philippines fund at $197m
Manila-based private equity firm Navegar has closed its second Philippines fund with $197 million in commitments. The initial target was $150 million.
Realism on exits essential in Southeast Asia – AVCJ Forum
Exits remain challenging in Southeast Asian private equity, but LPs see a growing willingness among the region’s GPs to take this difficulty into account when planning their investments.
LeapFrog raises $700m for third impact fund
LeapFrog Investments has raised $700 million for its third fund with a view to investing in healthcare and financial services companies in emerging Asia and Africa. It initially targeted a corpus of $600 million.
ADB, DEG join $144m round for India solar player
Indian renewable energy developer Avaada Energy has raised a INR10 billion ($144 million) investment from a consortium including the Asian Development Bank (ADB) and development institutions DEG and FMO.
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.
Fund focus: Maison in dollar fund breakthrough
China’s Maison Capital raises its first US dollar-denominated fund with a view to expanding its mandate while staying focused on a thriving domestic consumer market
China’s Maison secures $200m for US dollar fund
Chinese growth capital private equity firm Maison Capital has closed its first US dollar-denominated fund at $200 million.
Singapore’s C88 gets $28m Series C round
Data and financial services company Experian has led a group of investors, including Monk’s Hill Ventures and Telstra Ventures, in a $28 million Series C round for Singapore’s C88 Financial Technologies.
PE-backed MAS Financial climbs 31% on trading debut
Indian PE-backed non-banking finance company (NBFC) MAS Financial Services gained 30.9% on its trading debut in India after raising INR4.6 billion ($70.9 million) in its IPO last week.
LPs play the long game on Indonesia - AVCJ Forum
Institutional investors are keen to increase their exposure to Indonesia but the relative immaturity of the local market continues to be a deterrent, LPs told the AVCJ Indonesia Forum.
PE-backed Azure Power raises $61.4m in US IPO
Azure Power, an Indian solar panel company backed by several PE investors, has raised $61.4 million in its IPO on the New York Stock Exchange.
Tata Power to acquire ADB, DEG-backed Welspun Renewables
India's Tata Power has agreed to acquire Welspun Renewables (WREPL), a subsidiary of Welspun Energy backed by the Asian Development Bank (ADB) and German development finance institution DEG.
LPs see potential despite shallow Indonesia GP field - AVCJ Forum
Investors are still waiting to see if Indonesian private equity managers can deliver due to the relative youth of the market and the local GPs participating in it, LPs told the AVCJ Indonesia Forum.