Indonesian startup-related developments continued to dominate our most-loved story list in September as well.
Our exclusive on Amazon leading a major round in Indonesian quick commerce player, marking the US tech giant’s first direct venture investment in Southeast Asia’s consumer space, was the most-read story of the month.
Tanihub probe, an external audit at Ayoconnect, and the calling off of Grab-GoTo merger talks were the other most significant headlines from SE Asia during the month. From private equity, we featured fundraising milestones of Seraya Partners and TVM Capital Healthcare.
Moving on to Greater China, from where we brought you interviews of top executives from the Tsao Family Office and ZQ Capital.
In India, we continued to track funding and M&A scoops. The September edition’s top India stories include Temasek being in talks to invest in an Indian spacetech startup and Omega Hospitals looking to acquire a rival chain.
Southeast Asia
Amazon leads $52m round in Indonesian quick commerce player
Endeavor Catalyst and Gemini Investments joined existing backers Accel, Lightspeed Venture Partners, Peak XV Partners, SBI Ventures, and Citius in the round.
TaniHub probe: Court detains three more suspects from BRI Ventures, MDI Ventures
The detentions are linked to an ongoing investigation into the approval of a $25 million joint investment by MDI Ventures and BRI Ventures in TaniHub.
Vietnam’s top PE-backed pharmacy retail chains paint picture of contrast
The performance of FPT Long Chau and Pharmacity illustrates just how differently strategies and execution can play out in the same market.
NUS shortlisting buyers for secondhand fund stakes
The process signals growing demand from limited partners seeking exits from their holdings to unlock tied-up capital as they actively manage their portfolios.
Mid-market PE maintains edge in returns and value creation in Asia
The differentiated benefits of smaller transactions, ranging from growth potential to operational upside, make the segment compelling enough to stay focused.
Ayoconnect under external audit over suspicious transaction but closes bridge round
Despite the scrutiny, Ayoconnect recently raised a $2-million bridge round led by existing investor Finch Capital.
Grab-GoTo merger talks called off once again
The talks, which were at a very advanced stage in the past months after engaging advisors, have been suspended due to concerns from local regulators and shareholder disagreement.
Singapore’s Seraya Partners targets over $1b for second fund
The mid-market fund targets tech-enabled energy transition and digital infrastructure platforms in developed Asia and Southeast Asia.
Intudo Ventures mulls secondaries options for startup stakes
The plan may see Intudo move stakes in fintech unicorn Xendit, crypto exchange Pintu, and edtech platform Pintar into a continuation fund or other forms of secondaries structure.
TVM Capital Healthcare makes first close of SE Asia fund
The firm is believed to have raised over a third of its $150 million target from anchor investor Invest International and family offices in Singapore and Dubai.
Greater China
Impact measurement in Asia is the biggest challenge for investors: Tsao Family Office
“Reporting returns is straightforward—just one number—but reporting impact is far more complex,” Bryan Goh, CEO and CIO of Tsao Family Office.
ZQ Capital nears final close of $300m fund with eye on Asia
ZQ Capital plans to invest in 5-10 control or buyout transactions of mostly smaller-cap, developed-market companies with an enterprise value of sub-$500 million.
India
Temasek in talks to invest in Indian spacetech startup
The state investor is looking to back Pixxel, a Bengaluru-based startup that also operates out of El Segundo, California.
Morgan Stanley PE-backed Omega Hospitals in talks to buy rival
India’s healthcare sector is experiencing a surge in M&A and PE activity, fueled by evolving patient needs, aggressive expansion strategies, and new financing structures.
