TMT
Everstone exits India's Servion Global Solutions to EMK Capital
Everstone Capital has sold Indian customer experience management provider Servion Global Solutions to UK private equity investor EMK Capital for an undisclosed sum.
Lightspeed leads $50m round for Singapore's YouTrip
Lightspeed Venture Partners has led a USD 50m Series B investment in Singapore-based travel wallet and currency exchange app YouTrip.
Navegar leads Series C for Singapore's Inteluck
Philippines private equity firm Navegar has led a USD 34m Series C round for Singapore-based supply chain technology provider Inteluck with support from East Ventures.
Deal focus: Minnow finds favour in crowded Indonesia vertical
Indonesia’s Luna, a seed-stage contender in a competitive retail digitalisation landscape, continues to collect VC backers as a patient, diversified gameplan comes into focus
Eight Roads leads $22m round for Meitu's AI design unit
Pixocial, an artificial intelligence-enabled (AI) design tool spun out from China-based photo editing app provider Meitu, has raised USD 22m in funding led by Eight Roads.
Legend Star closes fifth renminbi fund on $123m
Legend Star, the China-based venture capital arm of Legend Holdings, has closed its fifth renminbi-denominated fund with more than CNY 900m (USD 124m) in commitments.
India's Mensa Brands secures $40m in debt, equity funding
Mensa Brands, an India-based platform that agglomerates emerging consumer brands, has received USD 40m in funding from EvolutionX Debt Capital structured as a debt facility and a convertible investment.
China-US consumer brand accelerator raises $58m
SuperOrdinary, a global consumer brands accelerator that operates out of Shanghai, New York, and Los Angeles, has raised USD 58m in Series B funding at a valuation of more than USD 800m.
SparkLabs launches US-listed SPAC
SparkLabs Group, which operates a network of start-up accelerators and venture capital funds with a strong presence in Asia, has raised USD 100m through a special purpose acquisition company (SPAC) offering on NASDAQ.
Taiwan streaming platform set for Singapore SPAC merger
17Live, a VC-backed Taiwan-based streaming platform that previously tried and failed to list in the US, is set to become the first company to list in Singapore through a merger with a special purpose acquisition company (SPAC).
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
Profile: Venturra’s John Riady
A millennial member of one of Indonesia’s most prominent family business groups, John Riady became a VC investor in 2011. He has witnessed a nascent digital economy begin to fulfil its promise
India livestreaming platform Eloelo raises $22m
US investors Courtside Ventures and Griffin Gaming Partners have led a USD 22m pre-Series B round for Indian social gaming and livestreaming platform Eloelo.
GGV to spin off Asia operation
GGV Capital’s Asia business will sever ties with the firm’s international operation – switching to separate partnerships and a distinct brand – as venture capital continues to feel the impact of the US and China’s conflicting technology agendas.
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).
Fund focus: Vertex emphasizes realisations
Growth rounds for cashflow positive companies have facilitated most of Vertex Ventures Southeast Asia and India’s exits – and laid the ground for its recent USD 541m fundraise
India's Kae Capital raises $50m opportunity fund
Indian seed investor Kae Capital has confirmed closing an opportunity fund with USD 50m in commitments less than a year after closing its third flagship fund at USD 94m.
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.
Fund focus: 500 Global scales up in Southeast Asia
By investing early and building a diversified portfolio, 500 Global emerged from the technology valuation corrections somewhat unscathed. This gave the firm impetus when raising its third Southeast Asia fund
PE-backed Zhaogang to list via Hong Kong SPAC merger
Zhaogang, a private equity-backed Chinese B2B steel-trading platform, is on course to become the first company to list in Hong Kong through a merger with a special purpose acquisition company (SPAC).
500 Global raises $143m for Southeast Asia
500 Global has raised USD 100m for its third Southeast Asia-focused early-stage fund and USD 43m for a vehicle that will target growth-stage start-ups in the region.
China carpooling player Dida revives Hong Kong IPO bid
Dida, a PE-backed Chinese car-pooling and ride-hailing platform, has filed to list in Hong Kong – for the fourth time in three years. There are records of lapsed registrations from 2020, 2021, and earlier in 2023.
Deal focus: Family offices flock to FirstCry
FirstCry’s USD 52m funding round underscores the willingness of certain Indian family offices to lead sizeable technology deals and the importance attached by companies to investor base diversification
Indonesia's Venturra teams up with Dasym for next fundraise
Indonesian venture capital firm Venturra has teamed up with Netherlands-based investment group Dasym to institutionalise operations ahead of the launch of its next fund.