Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- TikTok Takes Controlling Stake in Tokopedia: TikTok Shop’s shutdown in Indonesia led to a strategic deal between TikTok and GoTo-owned Tokopedia. TikTok has invested over $1.5 billion in the enlarged entity, holding a 75.01% stake.
- Southeast Asian PE Major Northstar Group Closes Venture Capital Fund: Northstar Group secured the final close of its maiden venture capital fund at $140 million.
- Oman Investment Authority Focuses on Southeast Asia: The Oman Investment Authority is expanding its focus to Southeast Asia, considering the region as “the next China.”
- TVM Capital Healthcare Receives Capital Commitment: Dubai and Singapore-headquartered TVM Capital Healthcare received a capital commitment from Dutch investment firm Invest International.
- General Atlantic Files for IPO: Private equity firm General Atlantic has confidentially filed for a US initial public offering, considering listing next year depending on market conditions.
- Seraya Partners Raises $800 Million for Infrastructure Fund: Singapore-based Seraya Partners raised $800 million for its inaugural Asia infrastructure fund from investors including Asian Infrastructure Investment Bank and BlackRock.
- Infroneer Holdings Plans to Acquire Japan Wind Development: Japanese civil engineering group Infroneer Holdings plans to acquire wind power company Japan Wind Development from US private equity firm Bain Capital for an estimated $1.36 billion.
- CTC Capital Holds First Close of RMB Fund: China’s CTC Capital held the first close of a new RMB-denominated fund at $167.2 million to focus on the country’s integrated circuit industry.
- CVC Capital Partners Acquires Sogo Medical Group: European fund CVC Capital Partners agreed to acquire major Japanese pharmacy operator Sogo Medical Group for an estimated $1.2 billion.
- Bain Capital Sells Stake in Axis Bank: Private equity firm Bain Capital sold a $448-million stake in Indian private lender Axis Bank in a block trade.
Disclaimer:This article by is general in nature and based on publicly available information and not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material. While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
