Analysis
India online education: Learning process
With millions of Indian students facing the possibility of an academic year conducted entirely online, educational technology start-ups have an opportunity for business model validation
Asia online gaming: Game on
Videogaming has outgrown entertainment and media to become a sector unto itself, with new angles for exposure multiplying rapidly. E-sports is an area to watch
Belt & Road: Circular dynamics
The economic fallout from COVID-19 and an antagonistic geopolitical backdrop have simultaneously stymied and validated China’s Belt & Road infrastructure agenda
China semiconductor: The chips are up
Excluded from US supply chains, China is looking to satisfy its semiconductor appetite from within. Domestic start-ups can command huge valuations, but are they sustainable?
Southeast Asia macro: Encouraging minefield
Southeast Asia benefits from an enviable macro outlook versus other markets, and investment in the region is set to recover relatively quickly. But is that enough?
Asia VC: Vertex's evolving early-stage network
Vertex Holdings’ Chua Kee-Lock likens his network of VC funds seeded by the Temasek-owned entity as a distributed computer system. It will draw down more power as it grows
2Q analysis: Numbers that deceive
Asia has seen remarkable revivals in private equity investment and fundraising – though not in exits – over the past three months. A handful of large-cap situations mask a weak environment
Hong Kong vs Singapore: Onshore overtures
Hong Kong and Singapore both position themselves as the headquarters of choice for private equity firms in Asia. But the competitive dynamics – from politics to structures – are not straightforward
Portfolio: CBC Group and I-Mab Biopharma
CBC Group’s stewardship of I-Mab Biopharma brings an intensely hands-on platform-based approach to a booming China biotech space often characterized by relatively passive strategies
China IPOs: Star attraction
Having previously focused on offshore IPOs, China managers with US dollar funds are now considering the Star Market. But going onshore means more regulation as well as high valuations
Corporate VC in Asia: Moment of truth
Cutting non-core operations is the standard corporate response to an economic downturn. Companies in Asia must decide whether the long-term benefits of exposure to new technologies outweighs short-term pain
Cayman fund regulation: Marginal gains
Private equity firms that use the Cayman Islands as a fund domicile are coming to terms with the realities of registration. Is the cumulative weight of increased regulation making them consider other jurisdictions?
Medical devices: Proceed with caution
Medical devices has become a difficult place to invest but potentially all the more rewarding for those willing to take the plunge. Asia is in a prime position globally
China LGBTQ investments: Pink power
There has been little VC investment in Chinese LGBTQ social platforms since 2017 due to regulatory concerns. Will gay dating site Blued’s US IPO reignite interest in the space?
Asia lending start-ups: Bump in the road
Digital lenders in emerging markets need to survive a tricky year under the shadow of potential defaults, but the survivors might become significant players in a renewed financial landscape
GP Profile: Gobi Partners
China’s Gobi Partners has grown from a four-person team to an 11-office franchise. The coming decade will test the VC firm’s aspiration to become a pan-Asian enterprise
Coronavirus dislocation funds: Runway watchers
Southeast Asia has emerged as a hotspot for VC funds targeting COVID-19 dislocation. They are flirting with strategies requiring private equity and short-term value investing skills
Asia secondaries: Waiting for the flood
Secondary investors expect deal flow to rebound strongly once there is more certainty on valuations. In Asia, the opportunity will be larger and more nuanced than the post-global financial crisis frenzy
Asia gyms: Muscling through the mire
Fitness centers have continued to woo investors during COVID-19 despite patchy progress in the reopening of gyms and difficult-to-digitize business models
Coronavirus & fundraising: Comfort levels
Personal contact with the manager remains a prerequisite for LPs when making fund commitments, but to what extent will recent travel restrictions change the parameters for on-site due diligence?
Portfolio: Anacacia Capital and Duncan Solutions
Following its investment in Duncan Solutions in 2018, Anacacia Capital is helping the parking management systems provider tap into demand arising from Australia’s smart city movement
China EV: End of the road?
Challenged by the arrival of Tesla, the removal of subsidies, and the coronavirus outbreak, China’s independent electric vehicle makers are at a point of reckoning. Many will stumble
Coronavirus & due diligence: Split screen
Finding the right balance between offline and online communication for completing due diligence processes is a tricky endeavor for PE and VC investment professionals in Asia
Jio Platforms: Elephant in the room
India’s Jio Platforms has received substantial private equity backing as it looks to build a digital platform that is all things to all people, from cable to retail. Will it succeed?
