Singapore
SPACs: Longer menu
As the US recovers from a glut in SPAC fundraising, Asian jurisdictions are launching their own regimes. Not every start-up is a good fit for New York. Is Singapore or Hong Kong a good fit for them?
Korea GPs invest $40m in Singapore biotech player
A group of Korean private equity investors has committed $40 million in funding to Cerecin, a Singapore-based biotech developer focused on neurotherapeutics.
Singapore drone services player gets $26m Series B
H3 Dynamics, a Singapore-based autonomous drone data services and hydrogen air logistics start-up, has raised a $26 million Series B round led by Japan’s Sparx Asset Management.
Lightspeed joins $125m round for India virtual events platform
Lightspeed Venture Partners has joined a $125 million Series B round for India-based virtual events platform Hubilo.
East, Vulcan lead $15m Series A for Singapore's Qapita
Qapita, a Singapore-based provider of software used by start-ups to manage cap tables and employee stock ownership plans (ESOP), has raised $15 million in Series A funding.
Singapore's Incomlend gets $60m for SME ESG financing program
Singapore’s Incomlend, a financial technology provider for small to medium-sized enterprises (SMEs) has raised $60 million for an environmental, social, and governance (ESG) financing program.
Singapore online banking player Aspire raises $158m
Singapore-based online banking platform Aspire has raised a $158 million Series B round with support from the likes of B Capital Group.
Deal focus: Southeast Asia’s four-trick credit pony
Advance Intelligence Group has used its core risk assessment technology to expand into lending and e-commerce transaction finance and services. Membership of Southeast Asia’s unicorn club is its reward
Singapore's Ninja Van raises $578m Series E
Singapore-based last-mile delivery start-up Ninja Van has raised a $578 million Series E round featuring Alibaba Group.
Asia crypto asset management platform raises $40m
Cobo, a Singapore-based crypto asset management platform and blockchain infrastructure provider, has secured a $40 million Series B round led by DST Global, A&T Capital, and IMO Ventures.
Pacific Century’s insurtech business extends Series A to $210m
Pacific Century Group’s insurance technology business, Bolttech, has extended a recent $180 million Series A round to $210 million in total.
SoftBank, Warburg Pincus back Singapore's Advanced Intelligence
Advance Intelligence Group, a Singapore start-up best known for digital identity verification and fraud prevention platform Advance.AI and buy now, pay later (BNPL) business Atome, has raised over $400 million in Series D funding.
Platinum sells Singapore's PCI for $306m
Platinum Equity has agreed to sell PCI, a Singapore-headquartered electronics manufacturing services provider it acquired in 2019, to US-listed Celestica for $306 million in cash.
Singapore plans pre-IPO fund to attract listings
Singapore’s EDB Investments (EDBI) will establish a pre-IPO fund – with an initial commitment of S$500 million ($370 million) – that is intended to encourage high-growth companies to list in the city-state.
8F reaches $61m first close on SE Asia aquaculture fund
8F Asset Management, a Singapore-based GP dedicated to developing a sustainable salmon business, has hit a first close of $61 million on its second fund, which will build out Southeast Asian operations.
Hong Kong outlines plans for local SPAC listings
Hong Kong Exchanges & Clearing (HKEx) has proposed rules for IPOs by special purpose acquisition companies (SPACs), admitting they are more stringent than the US system, but noting the need for more safeguards in a relatively retail investor-heavy market.
500 Startups closes $140m global fund, rebrands
500 Startups has closed its largest-ever global fund at $140 million, while simultaneously rebranding as 500 Global and expanding its strategy to include later-stage deals.
STIC leads $100m round for Carousell at $1.1b valuation
Korea’s STIC Investments has led a $100 million round for Carousell, a Singapore-based mobile classifieds marketplace for secondhand goods, at a valuation of $1.1 billion.
Jungle hits $225m first close on fourth SE Asia VC fund
Singapore-based Jungle Ventures has reached a first close of $225 million for its fourth Southeast Asia fund after four months in the market. The target is $350 million.
GPs see more paths to liquidity in Southeast Asia - AVCJ Forum
SPAC deals and GP-led secondary transactions are bringing more liquidity options to Southeast Asia, a geography where private equity investors have often struggled to achieve exits, industry participants told the AVCJ Singapore Forum.
Baring Asia invests $150m in Singapore game developer
Baring Private Equity Asia has invested $150 million in Singapore-based game developer Virtuos, becoming the largest external shareholder.
Deal focus: Singapore's Doctor Anywhere raises $65m Series C
Doctor Anywhere’s omnichannel approach to digitizing Southeast Asian healthcare is luring investors with eyes on the pandemic’s most logical trend. Preserving a first-mover advantage is the challenge