Analysis
Japan VC: Outbound ambition
Japanese start-ups are looking to address global markets from day one, but few domestic venture capital firms are equipped to support cross-border strategies. Corporate VCs could provide the solution
Japanese LPs: Glacier effect
There is growing interest among Japanese institutional investors for exposure to alternatives. However, this doesn’t mean commitments will come quickly, or go to private equity first
New Zealand VC: Apprehensive eruption
After a dormant 2015 during which no funds were raised, New Zealand has seen a flurry of activity in the first half of this year. It is piquing enthusiasm – albeit cautiously – for a fledgling VC space
Worlds apart: Virtual and augmented reality
Virtual reality is closer to mainstream acceptance than ever before, while augmented reality presents considerable potential – but financial returns will not come quickly and investors must show patience
China mezzanine: Hybrid solutions
Investors see more opportunities in the growth mezzanine space as China’s economy slows, but deal structuring is a challenge due to the need for onshore and offshore components
The communicators: Investor relations in Asia
GPs in Asia are devoting more resources to investor relations in response to increased reporting requirements and a challenging fundraising environment. But finding the right IR formula is not easy
China micro VC: The micro wave
Micro VC firms are a relatively new segment in China’s venture capital ecosystem, the product of angel investors going institutional. They focus on early stage deals, but as demand grows, will they stay there?
Portfolio: The Riverside Company and Simcro
The Riverside Company believes New Zealand’s Simcro has what it takes to build its animal health device business worldwide, and is using its global reach and long-term perspective to help the company succeed
Australian agriculture: Investor stampede
Australia’s politically charged beef industry has attracted a wave of new investment, much of it driven by overseas buyers. As this interest elevates valuations and emotions, PE firms must capture value with care
China fund administration: In or out?
Whether they are US dollar managers upgrading their LP bases or renminbi GPs tapping offshore investors for the first time, China PE firms increasingly see the reputational value of independent administration
Taxing developments: India and Mauritius
Recent changes to India’s double taxation agreement with Mauritius have brought welcome clarity to the country’s private equity investors, but are also likely to require changes to their business practices
India NBFCs: Lending a hand
Momentum is building among India’s non-banking finance companies, and PE, government and regulators see promise in the power to reach untapped markets. Success will require the support of all three parties
Security in numbers: Asia VCs target cybersecurity
An unbalanced global cybersecurity market – currently weighted heavily toward the US – is slowly finding its feet in Asia. But opportunities in the expected boom may not be intuitive to newcomers
Thailand VC: Tough nut to crack
As Thailand’s government signals its intention to embrace venture capital, the harder but less visible work of transforming a traditionally risk-averse culture grinds on
China tech down rounds: Down and out?
While down rounds are increasing in frequency among US-based start-ups, the phenomenon has yet to take root in China. Desperation, dirty term sheets and willing investors are delaying the inevitable
Korea VC fundraising: Unbalanced boom
The forces behind a bumper year for South Korean venture fundraising serve as a reminder that local players must do more to build much-needed international relationships
Australia renewables: Clear skies
Having spent the last couple of years in a politics-driven limbo, Australia’s renewable energy sector is seeing renewed investor interest. Nevertheless, the market still presents various challenges
Portfolio: AID Partners and HMV Asia
Having bought the HMV business in Asia as a distressed asset, Hong Kong-based AID Partners is working to reposition it as a lifestyle brand that reaches deeper into the media value chain than DVDs and CDs
The gathering storm: Preparing portfolio companies for a downturn
As warning signals of a global economic downturn become increasingly convincing, private equity portfolio companies are likely to come under pressure. Investors are advised to prepare carefully
India e-commerce: The return of red tape
India has unveiled significant changes to its e-commerce industry, allowing 100% foreign ownership of marketplaces but restricting these businesses control over pricing. Industry feedback is mixed
India distress: Workout window
India’s distressed asset sector is seeing a surge in investor interest as regulators indicate support for a tougher approach by creditors. PE investors looking to enter this space must develop sustainable strategies
1Q analysis: Hard times
Only the good prevail as LPs appear wary of China funds; investors continue to seek technology start-up exposure but the check sizes are falling; Korea delivers exits, but other markets fail to shine
Indonesia private equity: Green shoots?
While Indonesia’s VC industry is taking off, private equity firms have found the last few years challenging due to economic headwinds. GPs are now feeling most positive, thanks in part to government policy
Indonesia public markets: Technical exits
The Jakarta Stock Exchange has never been a popular location for private equity exits due to various structural problems. The government wants to address these issues, but there is no quick fix