Southeast Asia VC is in fair position to hobble through a global downturn and cooling appetite for all things tech despite controversial politics in the region’s largest market and a dicey IPO outlook
Dalma Capital Group, a Dubai-headquartered alternative investment management platform, has agreed to buy The Global CIO Office, a Singapore-based outsourced CIO business that primarily serves family offices.
Fundraising favours the few; deployment becomes progressively slower as investors agonise about valuations, macro prospects, and financing costs; sponsor-to-sponsor deals prop up exits
Goldman Sachs Asset Management (GSAM) has made a structured investment in Goodpack, a Singapore-based container manufacturer controlled by KKR, as part of a broader refinancing transaction.
Japan’s Sparx Group has led an investment in Singapore-based internet-of-things (IoT) developer UnaBiz. It completes a USD 50m Series B round that started in October last year.
EQuest Education, a Vietnam-based operator of bilingual schools backed by KKR, has acquired a controlling interest in industry peer Khoi Nguyen Education Group (KNE).
India’s Innoven Capital, a joint venture between UOB and Temasek Holdings-owned Seviora Holdings, has fractionalised a USD 50m venture debt fund using blockchain and smart contracts.
Singapore’s Iterative is dazzling its entrepreneurial friends in the US with tales of seed-stage success in Southeast Asia and channelling that interest into a sophomore fund
Hong Kong-based insurer FWD Group and Malaysia’s Artem Ventures have set up a MYR 45m (USD 10.2m) VC fund focused on insurance technology and Islamic financial technology in Malaysia.
Temasek Holdings has launched an internal review into the circumstances that led to its investment in collapsed cryptocurrency exchange FTX, but Singapore’s deputy prime minister refused to criticise the organisation’s governance structures.
XanPool, a Hong Kong-based cross-border payments infrastructure provider, has raised USD 41m from new investor Target Global and existing backer Antler Elevate.
Singapore-based insurance technology start-up Igloo has added USD 27m to an initial USD 19m in Series B funding raised in March. Swiss impact investor BlueOrchard led the extension.
Swee Yeok Chu, CEO and president of Singapore government investor EDBI, is stepping down from her role with a view to launching her own fund.
Singapore-based early-stage VC firm and accelerator Iterative has closed its second Southeast Asia fund with USD 55m in commitments.
Asia Partners, a Singapore-based private equity firm focused on growth-stage technology investments, is targeting USD 600m for its second fund.
Proterra Investment Partners has reached a final close on a Singapore-domiciled fund that will make food-related investments across Asia with more than USD 200m in commitments.
East Ventures has led a USD 13m Series A round for Indonesia’s TipTip, a marketplace that connects digital media content creators and their fans.
Abu Dhabi Investment Authority (ADIA) will provide Singapore private equity real estate manager SC Capital Partners up to USD 2bn for equity investments in Asia data centres.
Temasek Holdings-owned Heliconia Capital Management has teamed up with Singapore-listed Yanzijiang Financial Holding to launch a fund that will invest in small and medium-sized enterprises (SMEs) in Southeast Asia.
Singapore-based Wavemaker Partners has appointed Andy Hwang, an angel investor and start-up mentor transitioning into venture capital, as a general partner.
With ISSB pursuing pre-eminence in sustainability-related financial disclosures and TCFD emerging as a preferred climate framework, investors and investees will have to get more serious about reporting
Adrian Li, founder and managing partner of Indonesia-focused AC Ventures, on Chinese incursions into Southeast Asia, localisation versus scale, the prospect of a protracted downturn, and being an Ironman
Atul Phull, who spent nine years with India and Southeast Asia-focused private equity firm Everstone Group across two stints, has joined the private funds group at UBS as an executive director.
Indonesia’s sovereign wealth fund, Indonesia Investment Authority (INA), has launched a USD 2bn green electric vehicle (EV) fund with Chinese battery manufacturer CATL and the international arm of China Merchants Bank (CMB).