M&A
Carousell buys VC-backed Indonesia re-commerce platform
Carousell, a Singapore-based mobile classifieds marketplace for second-hand goods, has acquired Indonesian re-commerce platform Laku6 with support from Temasek Holdings-owned Heliconia Capital.
ESG in M&A: Eloquent exits
Private equity firms are increasingly presenting portfolio companies’ sustainability credentials in a prepared and formal way in trade sale situations. It appears to be worth the trouble
Philippines venture builder, Ayala engineer health-tech merger
917Ventures, a corporate venture builder controlled by Philippines-based telecom operator Globe Group, has merged its KonsultaMD telehealth platform with assets held by Ayala Corporation to create a one-stop health super app.
India's Zomato buys PE-backed Blinkit for $567m
India-based online food services platform Zomato has agreed to acquire Blinkit – a private equity-backed quick commerce start-up formerly known as Grofers – for INR 44.5bn (USD 567m).
Deal focus: Software Combined sees sense in aggregation
Backed by majority owner Navis Capital Partners, Australia-based Software Combined wants to reach up to USD 35m of EBITDA within three years through acquisitions of smaller B2B players
Navis backs Australasia software aggregation platform
Navis Capital Partners has invested in Software Combined, an Australia and New Zealand-based aggregator of software providers that cater to specific niches or B2B verticals.
Mitsui, Nomura acquire real assets manager New Forests
Japan’s Mitsui & Co. and Nomura Holdings have agreed to acquire 100% of New Forests, an Australia-headquartered sustainable real assets investment manager focused on forestry, land management, and conservation.
China outbound: Organic options
Tough domestic competition is encouraging Chinese tech start-ups to expand overseas – often organically, earlier in their lifecycles than before, and despite regulatory concerns
EQT and Baring Asia: Size matters
The significance of EQT’s acquisition of Baring Private Equity Asia is in the strategic machinations of global GPs as much as in the implications for on-the-ground dealmaking
Baring Asia to merge with EQT
EQT has agreed a EUR 6.8bn (USD 7.5bn) acquisition of Baring Private Equity Asia (BPEA), having decided that organic expansion would unlikely deliver the Asia platform it desires to create a truly global business.
Asia agglomeration: Strength in numbers?
PE-backed agglomeration platforms are looking to buy up consumer brands in Asia with a view to leveraging the might of the collective. The model requires discipline in selection and execution
NewQuest set for TPG windfall if Fund V hits $1.75b
The management team of Asia secondaries specialist NewQuest Capital Partners stands to receive a $10 million payout if the firm raises $1.75 billion for its fifth fund, as part of TPG’s acquisition agreement.
Hong Kong's Prenetics agrees $1.25b SPAC merger
Hong Kong-based genetic testing business Prenetics has agreed to merge with a special purpose acquisition company (SPAC) sponsored by Adrian Cheng, scion of local property developer New World Development and managing partner of C Ventures, at an enterprise...
GLP, Sequoia commit $800m to China's Harvest Capital
Harvest Capital, a China-based private equity firm that focuses on the consumer sector, has received a strategic investment of nearly $800 million from GLP – a regional logistics platform and investment manager- and Sequoia Capital China.
Regulator blocks China live-streaming platform merger
China’s antitrust watchdog has blocked a merger of Huya and Douyu - the country's two largest video game live-streaming platforms - initiated by Tencent Holdings.
PE-backed PropertyGuru buys Malaysia, Thailand assets from REA
PropertyGuru, a Singapore-based real estate portal backed by the likes of TPG Capital and KKR, has acquired REA Group’s property technology assets in Malaysia and Thailand.
Indonesia's Gojek, Tokopedia merge as GoTo
Gojek and Tokopedia, two of Indonesia’s best-funded technology start-ups, have completed a merger, forming what they claim is the largest mobile on-demand services and payments platform in Southeast Asia.
China's Mobvista acquires marketing business
Chinese digital marketing player Mobvista has acquired VC-backed local counterpart Reyun in a cash-and-stock transaction worth RMB1.5 billion ($232 million).
Profile: FCC Partners’ CY Huang
Moving from advisor to investor and back again, C.Y. Huang has carved a niche in Taiwan’s M&A and private equity world. But he remains conscious of the need to adapt and evolve
Kakao spins out online fashion unit, buys VC-backed Zigzag
Korean internet company Kakao Corporation has spun out its fashion e-commerce business as an independent entity and merged it with Zigzag, a VC-backed local fashion marketplace.
Japan's YJ Capital, Line Ventures merge, launch $274m fund
Japan’s YJ Capital, recently rebranded as Z Venture Capital (ZVC), has launched a JPY30 billion ($274 million) following a merger with Line Ventures.