Analysis
Indonesia foreign investment: Negative no more
Changes to Indonesia’s “negative list” are expected to open up the country to more foreign investment, but private equity players will have to remember to tread cautiously
Indonesia VC regulation: One step at a time
Indonesia’s government is serious about supporting VC investment, but regulatory inconsistency continues to slow development of the industry. Participants say engagement with major players is essential
Asian outlier: Standard Chartered and secondaries direct
Over the past three years, Standard Chartered has completed Asia’s largest secondary direct deal and put its PE unit in a position to raise fresh capital. But it is not necessarily a harbinger of things to come
Portfolio: Unison Capital and Gong Cha
Bubble tea chain Gong Cha’s Korean franchise started out with an entrepreneurial approach that suited its needs. Now Unison Capital is transforming management style and building a regional lifestyle brand
Renminbi fund-of-funds: Commercial remit
Renminbi-denominated fund-of-funds have found a new lease of life in China as new private sector entrants and reformed state-backed incumbents look to tap a growing domestic LP base
China fintech: Transition time
Capital continues to flow into China’s internet finance industry, but competition and regulation are changing the dynamics. VC investors can do well, provided they stay ahead of the game
Reputational due diligence: No stone unturned
Thorough reputational due diligence can find both potential deal-breakers and opportunities for improvement. Are PE firms taking it to the necessary depth in emerging markets like India?
Japan e-commerce: Shopping for fun
Mercari has become Japan’s first unicorn on the back of an innovative approach to e-commerce. Can the company blaze a trail for others to follow by replicating its domestic success overseas?
Indian healthcare: Booster shots
Technological progress and changing consumer habits are bringing long-overdue change to India’s overworked healthcare system. Taking advantage will mean mastering the unique challenges of the market
China PE regulation: Operation good guys
The rapid growth of online finance technology has turned China into a hotbed for illegal fundraising, with local PE fund managers drawn into the mess. Can new regulation restore investor confidence?
Corporate VC in China healthcare: Formula for success
Despite the rapid growth of the Chinese pharmaceutical industry, corporate venture capital so far has not built a large presence. Industry participants say this shows the market, though booming, is still immature
China cross-border industrial buyouts: Strategic rationale
Chinese outbound investment in advanced technology assets is soaring, but the patchy nature of deal flow underlines the gulf in class between those that aspire to do deals and those that get them done
Kings of content: Investors target China media
From Alibaba Group to Wanda Group, Chinese companies are looking to tighten their hold on the media value chain, moving upstream and downstream. Private equity can profit from this evolving ecosystem
Australia services: Roll-up rapport
As Australia rebalances its economy in the wake of the commodities downturn, services are coming to the fore. Private equity investors continue to see consolidation opportunities
Lower middle market fundraising: Early adopters
While Australia’s lower middle market still offers opportunities for conventional GPs, some managers see growing potential in alternate fund models. Skepticism is strong among their peers
Australian PE: Under the spotlight
The rapid descent of Dick Smith Electronics from a $500 million valuation to bankruptcy has led to sharp criticism of private equity. Once again, the industry must explain why it isn’t the bad guy
Direct exposure: Family offices and co-investment
Wary of blind pools and keen to play a more active role in private equity, family offices are considering direct investment opportunities. Strategies and capabilities vary, as does the level of risk
Sequoia in India: Early-stage icon
At $920 million, Sequoia Capital latest India fund is the largest ever VC vehicle raised in the country. How will the technology sector accommodate this quantum of capital?
Made to measure: Customized co-investment
Growing appetite for co-investment among foreign and local institutions in Asia has given rise to a wider variety of advisors offering customized solutions to those with limited in-house resources
India VC: Smooth waters ahead?
India’s government has made promising signals about its willingness to engage the venture capital community. GPs are optimistic, but reservations remain about the details
Late starter: Hong Kong boosts innovation support
Hong Kong is following in Singapore’s footsteps with the announcement of meaningful support for technology start-ups. Why is the government moving on the issue now, and what difference can it make?
Nature vs nurture: Training PE professionals
With private equity’s traditional training tools coming under increased scrutiny, some are calling for standardized qualifications - before outside forces take matters out of the industry’s hands.
Portfolio: Armstrong Asset Management and The Blue Circle
Thanks to a strong relationship between their respective founders, Armstrong Asset Management has helped The Blue Circle become an influential player in Southeast Asia’s renewable energy sector
Hong Kong's Future Fund: Securing the future
Hong Kong’s new Future Fund has initial capital of $28 billion and a remit to invest aggressively in alternatives. To understand its approach, one must understand the Hong Kong Monetary Authority