Analysis
China IPOs: Offshore angst
Private equity exit timelines were thrown into disarray last year when US IPOs abruptly stopped. Regulators have offered some clarity, but investors are unsure when – or if – the magic will return
Portfolio: Affirma and Sunwoo Fresh
Affirma Capital is helping Korea’s Sunwoo Fresh discover new revenue streams overseas, online, and in adjacent links of the beef importing value chain. Aggressive M&A has accelerated the process
4Q analysis: Record quarter, record year
China rebounds as Asia private equity investment ends 2021 with a bang; bright spots in improving fundraising environment; sponsor-to-sponsor exits thrive while PE-backed IPOs stumble
Metaverse: Too concrete to ignore
As lives lived online find a virtual world to call home, investors, brands, governments, corporations, and accountants follow them in. Real estate, avatars, and new ideas are in demand. Goggles are not
Diversity & inclusion: Acting with intent
GPs are looking to build teams representing different genders, ethnicities, and backgrounds as stakeholders call for more diversity and studies suggest it leads to better decision making
India sports: In it to win it
Private equity interest in the commercialisation of sport globally is filtering through to India, with a couple of high-profile cricket deals. What other franchises and rights owners could be up for grabs?
2022 preview: ESG
Keeping tabs on sustainability credentials at the portfolio and company level will become more data-driven and collaborative. Eventually, getting results will require greater sacrifices
2022 preview: Blockchain
A broader range of investors will play in the blockchain space as new applications are normalized, although regulation remains the wildcard. Developing markets will punch above their weight
2022 preview: Japan VC
Japanese VC is growing up fast and looking a little less homogenous in the process. A longstanding growth-stage gap is about to disappear as new actors file in
2022 preview: Healthcare
Healthcare’s high-cost, rapidly digitizing profile will persist regardless of how COVID-19 plays out in the coming years. China appears set for consolidation, including in biotech
2022 preview: India tech
As India’s technology sector balloons, investors are balancing confidence about fundamentals with expectations of pushback. Both will play out in 2022 to some extent
2022 preview: China sustainability
Green-tech investment, from electric vehicles to renewable energy, is already in the ascendency as China ponders a carbon-neutral future. Momentum is expected to grow in 2022
2022 preview: China fundraising
Investors held fire on commitments to China managers amid uncertainty over regulatory reforms. Industry participants hope the government will provide clarity, but the fear LPs won’t hurry back
2022 preview: Macro & buyout
Will the bullish investment environment persist through 2022? Most Asia-based private equity players expect to remain busy, although they acknowledge a lack of visibility around macro and geopolitical risk
2022 preview: SaaS
Software-as-a-service continues to benefit from a digitalization push across multiple markets. Investors are looking for differentiation in a market characterized by high valuations and intense competition
2021 in review: Boom time
Cheap debt and a desire for assets that deliver technology-driven growth have propelled Asia private equity investment to new highs and supported a resurgence in exits. But fundraising still fails to convince
Asia exits: Pass the parcel
Sponsor-to-sponsor exits are set to reach a record high in Asia this year as private equity firms increase velocity of deployment and some strategics remain in a pandemic-induced funk
China cleantech: Policy tailwinds
Private equity investment in China cleantech and renewables is at record levels, spurred by robust government support for the industry and a recognition that this time the boom might be sustainable
Portfolio: Dymon Asia and AMES
For all the hubbub about digital businesses taking flight during the pandemic, few categories saw as much upside as traditional medical waste disposal. Dymon Asia Private Equity is enjoying the ride
China IPOs: The star still wanes
Proceeds from private equity-backed offerings on China’s Star Market are down 75% from their peak one year ago, reflecting ongoing regulatory interference and diminished investor confidence
Taiwan start-ups: Leaving the factory
Taiwan’s industrials-focused venture capital and start-up ecosystem has tilted noticeably toward consumer software in the past year. Nevertheless, the traditional heavyweights are indispensable
China regulation: Shock and awe
A raft of rules, largely targeting the technology sector, has challenged business cases and thwarted exits in China. It is also contributing to tweaks in investment strategy
North Asia IPOs: Welcome eruptions
A steady rhythm of small and mid-sized IPOs in North Asia is now being punctuated by globally noticeable events. Valuations are up, but Korean and Japanese investors are game
