Analysis >> Funds
Vision Fund: Big is beautiful?
Previously the sole elephant in Asia’s growth-stage technology space, SoftBank’s Vision Fund program is now one of a herd. Prevailing amid increased competition may prove its thesis once and for all
China in six trends
Key themes in China private equity fundraising, investment, and exits
Australia PE: Brave new world
As Australia contemplates opening its tightly controlled borders and finding a way to live with COVID-19, private equity probes an opportunity set in transition yet surprisingly stable
Secondaries: Straight outta Asia
The growing secondaries opportunity in Asia is attracting more global capital, but managers with strategies dedicated to the region are few. This is changing, albeit gradually
India family offices: Tech exposure
Demand for technology exposure among India’s most affluent is intensifying. Family offices may vary in profile, experience, and mode of access, but they all want a piece of the latest hot start-up
Southeast Asia fundraising: Indecision time
Southeast Asian GPs jockey for global attention with mixed results as the largest LPs continue to hesitate to commit to the region. A trickle of investment fuels theories about how to get more
2Q analysis: Trouble in China
Efforts to rein in China’s technology giants have dampened investor sentiment, with India and Southeast Asia stepping into the void. China remains active for fundraising, but there are fears that US IPO activity could take a hit
GP profile: Unison Capital
Unison Capital hones its game and holds tight to its heritage as one of the pioneers of private equity in Japan, even as its tentacles begin to span the breadth of Asia
Asia fundraising: Fortune favors the bold?
LPs cannot survive indefinitely on re-ups and new commitments to managers they know well. Questions are being asked internally as to what it would take to back an Asian GP sight unseen
Asia secondaries: Continuation conundrum
The rapid ascent of single-asset continuation vehicles in the US and Europe might be emulated in Asia, but investors are approaching the market with measured optimism
Asia credit fundraising: Middle muddle
Various structural tailwinds are driving the development of Asia’s middle-market private credit space. This doesn’t necessarily make it any easier to raise funds for the strategy
Ares & SSG: Scale proposition
The merger of Ares Management and SSG Capital is among the largest ever seen in Asian alternatives. They are now pushing into new markets and segments, leveraging the combination of size and local resources
Private equity & credit: Seeking synergies
GPs are placing greater emphasis on Asia private debt strategies to capture deals that don’t work as private equity. Much can be achieved by pooling ideas and resources, but collaboration isn’t as straightforward as it seems
Southeast Asia's shadow capital: Out of the darkness
Shadow capital – non-traditional pools of money held by sovereigns and corporates – has become a fixture in Southeast Asia’s tech space. Start-ups stand to benefit, but they must pick partners with care
AVCJ Awards 2020: Fundraising of the Year - Large Cap: The Carlyle Group
With twice as much dry powder as in its previous Japan vintage, The Carlyle group expects mega-deals and private equity participation to increase
AVCJ Awards 2020: Fundraising of the Year - Mid Cap: Ascendent Capital Partners
A $500 million investment in Wumart is the exception rather than the rule for Ascendent Capital Partners’ third China fund, but the digital transformation theme is a constant
2020 in review: Surprise guest
The coronavirus pandemic has played havoc with Asian private equity, contributing to a resurgence in IPOs, increased bifurcation in fundraising, a rush for healthcare, and a generally staggered revival
China VC: The naming of firms
The process of coming up with a name for a venture capital firm in China can be fraught with challenges around linguistic and cultural differences as well as questions about brand and values
Japan fundraising: Middle-market machine
Buoyed by strong macro fundamentals and robust returns, Japan’s buyout managers continue to attract capital while most other strategies across Asia struggle. Will this popularity be sustained?
China guidance funds: Money monsters
Government guidance funds are the policy-driven big beasts in China’s renminbi-fundraising landscape. While GPs may have little choice but to engage, they can do so judiciously
ESG & secondaries: Finer filters
Rising sustainability standards pose unique challenges for investors that prefer buying into existing portfolios. Interestingly, increasingly complex deal structures are making it easier
GP profile: Redpoint China Ventures
Redpoint China Ventures spun out from its US parent in 2016, but the knowledge it retained – and the communication that remains – has been key to moving early on enterprise technology
India venture capital: Local largesse
India’s venture capital industry is entering a new decade with a growing pool of local early-stage managers, a wider variety of funding sources, and a host of new risks and opportunities
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