Top 10 Highlights from the APAC PE, VC and Startup Ecosystem this Week - 02 Jun 2024 | Smartkarma (2024)

1. Exit Deal Value Plummeted: Bain report shows exit deal value in Southeast Asia dropped by 60% to $2.8 billion in 2023, leading to a 70% decrease in the number of exits compared to the previous year.
2. Tower Capital Asia’s Bullish Exit: Tower Capital Asia achieved a successful exit with Chinese medicine retailer Eu Yan Sang International, yielding an IRR in the top quartile.
3. Southern Capital Group’s Sale: Southern Capital Group finalized the sale of the Australian subsidiary of Qualitas Medical Health Group, showcasing ongoing activity in the healthcare sector.
4. Apis Partners’ Exit: London-based Apis Partners sold its stake in Southeast Asian payments provider GHL Systems Berhad to Japanese tech firm NTT DATA, marking its eighth exit.
5. Growing Interest in Southeast Asia: Limited partners are showing increased interest in Southeast Asia due to its established market, diverse economies, and favorable corporate history.
6. Malaysia’s PE Commitments: Malaysia’s public service retirement fund KWAP committed RM6 billion to its private equity strategy, while Ekuinas plans to launch a private credit fund.
7. IFC’s Investment: International Finance Corporation is considering a $40 million investment in Actis’ new private equity fund focusing on climate transition in Asia.
8. Taiwan’s Capital Commitments: Fubon Life Insurance and Cathay Life Insurance made $130 million in new capital commitments to private equity funds.
9. China’s Semiconductor Fund: China established its third state-backed investment fund to boost the semiconductor industry with a registered capital of 344 billion yuan.
10. Fundraising Success: EQT Private Capital Asia closed its mid-market fund at $1.6 billion, surpassing its initial target, while Seraya Partners plans to raise its second fund in the near future.

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network