IFC
Husk Power raises $43m for Asia, Africa mini-grid strategy
India, US, and Nigeria-based renewable energy developer Husk Power has raised USD 43m in Series D funding from global VC investors for a South Asia and sub-Saharan Africa mini-grid rollout.
IFC leads $24m Series B for India's Onsurity
The International Finance Corporation (IFC) has led a USD 24m Series B round for Indian employee healthcare insurance start-up Onsurity.
LeapFrog eyes February close, claims significant progress on fundraise
Impact investor LeapFrog Investments expects to close its fourth flagship fund in February, with a source close to the situation adding that "a significant share" of the targeted USD 1bn has already been raised.
Deal focus: GPs change channel on content streaming
The Fundamentum Group sees mass-market promise in Indian digital audio platform Kuku FM. It’s targeting a 50% market share by focusing on uniquely local content in vernacular languages
India's Kuku FM gets $24m Series C
Indian audio content platform Kuku FM has raised USD 24m in Series C funding led by local growth-stage investor The Fundamentum Partnership and the International Finance Corporation (IFC).
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.
Indonesia VC: Institutional upgrade?
Having won early support from as assortment of local conglomerates, Indonesian venture capital firms must now demonstrate their independence when pitching international LPs
Growtheum closes debut Southeast Asia fund on $567m
Growtheum Capital Partners, a private equity firm established by the former head of GIC’s direct private equity investment group in Southeast Asia, has closed its debut fund on USD 567m, falling short of the USD 750m target set in early 2022.
IFC to back India's Wellspring Healthcare
The International Finance Corporation (IFC) is set to invest USD 11m in India’s Wellspring Healthcare, which operates 17 primary care clinics in Mumbai and Pune.
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
Multiples leads $145m round for India's Veritas Finance
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.
India's Omnivore hits $150m first close on third fund
India agricultural technology-focused impact investor Omnivore has reached a first close of USD 150m on its third fund, beating the overall target of USD 130m. The hard cap is USD 200m.
Deal focus: Evermos extends impact to social commerce
Indonesia’s Evermos has more than doubled its total funding as investors see promise in a social commerce model that prioritises cottage industries and underemployed women
Indonesia e-commerce player Evermos gets $39m Series C
The International Finance Corporation (IFC) has led a USD 39m Series C round for Evermos, an Indonesian social commerce platform that positions itself as an impact play.
PE-backed CompareAsiaGroup merges with US-listed SPAC
CompareAsiaGroup, an Asia-focused financial products comparison platform also known as MoneyHero Group, has agreed to merge with a US-listed special purpose acquisition company (SPAC) at an enterprise value of approximately USD 342m.
Exacta seeks $350m for SE Asia fund, wins ADB support
Singapore’s Exacta Capital Partners, a PE firm affiliated with Mizuho Asia Partners, has received USD 25m from Asian Development Bank (ADB) for its latest fund. The target is USD 350m.
India's Multiples reaches $640m first close on Fund IV
Multiples Alternate Asset Management has reached a first close of USD 640m on its fourth India-focused fund as it bids to become one of the relatively few local managers to raise USD 1bn.
Lighthouse hits $200m first close on fourth India fund
Lighthouse Funds has reached a first close of approximately USD 200m on its fourth India mid-market fund – four months after returning nearly the entire Fund III corpus through an exit from beauty e-commerce platform Nykaa.
Premji Invest leads $110m round for India's Mintifi
Premji Invest has led a USD 110m Series D round for Indian financial services platform Mintifi with support from Norwest Venture Partners, Elevation Capital and the International Finance Corporation (IFC).
2023 preview: Fundraising
Fundraising is difficult for all but the fortunate few private equity managers in Asia. GPs are delaying launches, shaking up strategies, and offering sweeteners; LPs are in no hurry to make commitments
2023 preview: Exits
IPOs and trade sales have been muted in 2022, but industry participants expect strategic investors to be more active in Asia next year, especially as valuations moderate. Increased secondary deal flow is also likely
India's Multiples targets up to $1b for Fund IV
Multiples Alternate Asset Management is looking to raise up to USD 1bn for its fourth India-focused fund, with the International Finance Corporation (IFC) proposing a USD 60m commitment.
LPs’ ESG checklists get ever more intricate – AVCJ Forum
LPs want more nuanced emissions measurement from their portfolio managers, the AVCJ ESG Forum heard.
India's Motilal Oswal closes latest fund at $552m
The private equity arm of India’s Motilal Oswal Financial Services has closed its fourth flagship growth fund with INR 45bn (USD 552m) in commitments.