The week of May 3 to 8
As I organize the list of important developments that have taken place this week, I will begin with the fundraising activity in South East Asia. While the number of companies or generalists raising capital has been a bit lower compared to previous weeks, their engagement continues to show how LPs or funds of funds are betting bigger and bigger on top themes, keeping consumer trends and futures growth stories in mind.
Supported by Temasek Big idea projects reached the final $ 50 million close of its first alternative protein fund after raising capital from investors such as Le Groupe Bel, the French cheese maker and distributor behind The Laughing Cow; AAK, a global producer of vegetable oil and fats based in Sweden; and Meiji Co, a Japanese food company.
Meanwhile, an alternative asset management company Indies Capital Partners is preparing to launch its second fund with a body of $ 100 million to invest in developing technology companies in Southeast Asia, the company’s partner, Harold Ong, told DealStreetAsia. “We are helping with intermediate liquidity,” he said.
Offers and IPOs corner
In Malaysia, a private equity firm Creador is preparing to sell 40% of its stake in Digital CTOS as the credit reporting agency seeks to list on Bursa Malaysia. “Malaysia is one of the best markets to go public because there is a lot of cash trapped in the country today,” Creador founder and CEO Brahmal Vasudevan told us in an interview.
Swedish investment firm EQT Group left Singapore-based business services provider InCorp Global, selling its stake to a private equity firm TA Associates. EQT invested in the company in 2016 through its EQT Mid Market fund.
Dutch impact investor FMO said it committed a total of $ 104 million in April to companies operating in developing Asian economies such as India and Sri Lanka as part of its efforts to ensure business continuity following of the COVID-19 pandemic.
Based in Singapore Tropical forest, an acquirer and aggregator of e-commerce brands, has announced its official launch with seed funding of $ 36 million. The funding round – a mix of debt and equity – was led by a UK-based company. Nordstar Partners, with the participation of Insignia Ventures Partners.
Consumer-focused private equity firm L Catterton Led $ 56.6 Million Funding in Indonesian Beauty and Personal Care E-Commerce Company Social bella, marking the first investment of the first in Southeast Asia’s largest economy.
Filipino kitchen maker World Nissin Corp revised its IPO target to $ 1 billion, a local exchange filing showed last week. Nissin World, who sells Lucky Me! instant noodles in the Philippines and meat substitute Quorn in Europe, had initially applied for funding of $ 1.3 billion. The company’s shares are expected to start trading on June 7.
In China, Qiniu Limited, a Chinese cloud services platform backed by Alibaba for multimedia and data applications, has filed for an IPO on Nasdaq to raise $ 100 million.
Meanwhile, a leading gymnastics chain Supermonkey in the country, which started in 2014 with a self-service gym made in containers, is now approaching a billion dollar valuation after the completion of its latest E-Series cycle, led by a sub-fund of CICC Capital.
In Indonesia, the robo-advisor application Bibit.id raised $ 65 million in a fundraising round led by Sequoia Capital India and joined by Prosus Ventures, Tencent and Harvard Management Company.
Made GrabDoes the high $ 40 billion worth of this value come from its fintech potential? As the super apps giant gears up for its next Nasdaq listing via a record-breaking deal with SPAC, analysts believe its path to profitability lies in its future potential in financial services, and not in the cut-throat industry of ridesharing and travel. food delivery.
Meanwhile, in Southeast Asia’s logistics industry, there has been unprecedented interest in the pandemic-induced e-commerce boom. Some notable offers include J&T Express$ 2 billion in transportation in April, Thailand Flash Expressfinancing of $ 200 million last October and based in Indonesia SiCepat $ 170 million in March.
In Vietnam, the IPO market is showing green shoots of recovery after a two-year lull as a bunch of companies look to debut. These include names like Dat Xanh Service (immovable), Thai Nguyen International Hospital (health care) and ICCO 40 (construction), among others.
In an interview with DealStreetAsia, the leaders of the American giant PE Atlantic general highlighted how the COVID-19 crisis has created lasting changes in consumer behavior and social behavior, thereby creating new opportunities for investors. “We see new investment opportunities that respond to some lasting structural changes [in the digital space]Said its Managing Director and Head of India and South East Asia, Sandeep Naik.
Indian edtech company upGrad, founded by media mogul and serial entrepreneur Ronnie Screwvala, is set to enter Singapore and Indonesia this year as she works out her expansion plans. The startup recently raised $ 120 million from the Singapore state investment company Temasek during its first round of external funding.
Nicolas Sauvage, President and CEO of Japan’s TDK Ventures said the company is looking for more investment in industrial technologies in Asia, especially China, where it believes there will be a number of industry leaders. The company has reserved investments of up to $ 5 million from its second fund and is looking to close around six to nine investments this year.