Exclusive people move stories and deal scoops from Indonesia and Vietnam were among the most-read in June.
We reported on former Northstar Group executive Melvin Hade’s new consumer and retail-focused investment platform, in a growing sign among SE Asian investors towards consumer-only funds.
In another major executive shift from Northstar, we reported on managing director and co-CIO Sunata Tjiterosampurno’s move to join Danantara at a pivotal moment for Indonesia’s newly established sovereign wealth fund. Northstar Group, meanwhile, is in the final stages of being acquired by US-based Ares Management.
From Vietnam, check out the analytical piece on how local VCs are finding it challenging to raise successor funds in the absence of meaningful exits. We also look at VNG writing off some of its tech investments and the edtech sector, which continues to draw investor interest.
In Greater China, venture capital investors are betting heavily on deep tech and AI, with many players trying to capture opportunities thrown open by DeepSeek’s success. From India, our interview with Multiples PE and scoop on Blume Ventures’s fifth vehicle were the most-read articles.
In case you missed reading these stories, here is a recap of the most-read articles in June:-
Southeast Asia
Ex-Northstar MD Melvin Hade launches consumer-focused investment fund
The platform adds to the growing wave of investment vehicles targeting the country’s consumption-driven economy, as the appeal of tech-first models begins to fade.
Exclusive: Dubai royal family-linked Aqua Bridge Holding sole bidder for embattled eFishery
The structure of a potential transaction remains fluid, ranging from a full acquisition of the company’s technology and team into a new entity, to a more conventional equity investment.
General Atlantic fund admin taps over $500m SE Asia opportunity
As global allocators flock to Asian markets, independent administrators are racing to compete with rivals through tech-enabled service offerings.
Northstar’s Sunata Tjiterosampurno to join Indonesia’s Danantara
The wealth fund has been aggressively building out its investment leadership team as it embarks on deploying capital across strategic sectors.
Indonesian bakery brand Aoka said to be in talks to raise up to $50m
Aoka is likely to have had conversations with several regional PE firms, sovereign wealth funds, and strategic players as part of its ongoing capital raise.
Novo in talks to invest in SeaTown’s $780m medical group
The liquidity event could pave the way for SeaTown’s eventual exit, which would likely be among the first set of distributions to the LPs of its PE fund franchise.
Lack of meaningful exits makes it harder for Vietnam’s VCs to raise successor funds
Vietnam may be home to numerous VC funds, but having a differentiated approach is critical to securing LP commitments.
Vietnamese unicorn VNG writes off invesments in more startups
This recent decision to write off investments in struggling startups underscores VNG’s commitment to recalibrating its strategy to focus on more viable opportunities.
East Ventures said to invest in Vietnamese edtech startup
Despite the temporary shift in investor priority away from the sector, Vietnamese edtech is a growing market.
Investigators complete eFishery vendor fraud probe
This case is distinct from the one involving eFishery co-founders Gibran Huzaifah and Chrisna Aditya, who are under investigation for allegedly manipulating the firm’s financials.
Greater China
VCs remain bullish on China’s deeptech despite LLM bubble bursting
AI investments have heated up as the country rapidly narrows the gap with the US in producing cutting-edge AI models, thanks to the rapid strides made by firms like DeepSeek.
Chinese AI players move to seize DeepSeek-induced IPO window
But not all will bear fruit, investors say, as the fast-evolving market landscape will weed out slow runners, driving their venture backers to explore alternative exit paths.
India
Continuation funds in India are a natural progression: Multiples PE
The continuation fund will enable Multiples to roll over some of its high-performing assets, Vastu Housing Finance, APAC Financial Services, and Quantiphi.
Blume Ventures seeks $300m for fifth VC fund; IFC may come in as LP
The launch of Fund V comes about four years after the predecessor fund, Fund IV, closed at $290 million in 2022, making it the firm’s largest fund.
