APER Sep 2023 - A Bankable Future | Asia Private Equity Centre Limited

APER Sep 2023 - A Bankable Future

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Feature

A Bankable Future

APER Index

APER Index - 2016 – 2020 Deal Vintage Tech & Non-Tech Series (4): Tech - by Segments (as of Dec 2022)

Regulatory

Private Fund Advisers Beware: New Rules under Advisers Act

QuickData

Routes to EV Independence

Australia/New Zealand

Limited Partners

The Green Bank Down Under

China

Fund Management

The State Funds: Empowering Tech

India

Valuation

Naan Not Puffing Up

News

Australia/New Zealand

Russia Impedes Potentia’s Sale of Micromine

PEP Completes Its 2nd GP-Led Transaction

China

XPeng Partners with Didi to Develop New Electric Vehicle Model

PE-backed Jinke Smart Receives Properties from Shareholder as Service Fees in Kind

Pony.ai & Toyota China Join Hands to Mass Produce Robotaxis

CanSinoBIO to Contract Manufacture for AstraZeneca

China’s Greater Bay Area Attracts Robust Capital from PEs and from HSBC

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India

ADB & Fourth Partner to Build Solar Plant for India’s Commercial Sector

Ant Prefers to Hold Debt Instruments in Paytm

Japan/South Korea

Ex-Google Top Brains Established AI Lab in Japan

Southeast Asia

INA & Pollination Join Hands in Nature-based Investments

Senior Management Reshuffle in Vietnam’s Largest e-Commerce Play, Tiki

Vietnam Boasts Its 1st EV Listed in the US

Rest Of Asia/Rest Of The World

Quadria Raises Revolving Credit for Social Cause

Taiwan’s Lorom Merges with HK-based In-Tech

Temasek, Sequoia Capital & SoftBank Named in FTX’s Class Action

Market Section

Australia/New Zealand

Investments

PEP to Privatise ASX-listed Healthia

PAG to Acquire Pub Operator from KKR

AirTree Monitors Satellites via HEO Robotics

Octopus Ventures Extends its Arm to Oz

Morrison & Co Engages in Crate Pooling Business in Australia

Index Ventures & Morpheus Double Down on SafetyCulture

PEP Provides Mezzanine Debt to Household Capital

TPG is to Provide Funeral Services in Private

Advent to Buy Majority Stake in Zimmermann

ICONIQ & Coatue Said to be in Canva

Bain Set to Take Control of Estia Health

Artesian et al Get Vitamins via Vitable Again

Brookfield & Reliance Take Part in Oz’s Energy Transition

Atlassian & Prosus Protect their Cloud via Plerion

PEP to Continue its Lessons with UP Education thru a GP-Led Transaction

Schneider Electric Funds Mining Tech Startup in Oz

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Divestments

TA No Longer Insured with Honan

L Catterton Asia Sold its Swimwear

China

Funds

Cathay Enlists Titans in Luxury Goods as LPs for its Consumer Fund

Forebright Capital Raises over US$500 Mn for its Fund III

ESR Launches an Rmb Fund with an Investment Capacity of Rmb10 Bn

Gobi Partners GBA Raises HK$2 Bn for Greater Bay Area

GLP Capital Raises Rmb4 Bn for a China-focused Clean Energy Fund

Fresh Capital Closes Latest RMB Green Fund

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Investments

Qiming & OrbiMed Join Morningside in Gene Therapy

Lightspeed India Leads Wholesale Marketplace in Hong Kong

Lake Bleu Joins Legend & LYFE in Genetic Study

SAIF Partners & CDIB to Provide Orthopaedics Devices & Material

Addor & GL Ventures Join State Fund in Cell Culture

BlueRun Doubles Down on Urban Mobility Aircraft

Hidden Hill in B2B Online Trading Platform

Matrix Partners China Leads in Semiconductors Play

MSA & Loyal Valley Join Others in AI Models for Science

Hongtai et al Join Hands to Launch Satellites

Johnson & Johnson in RNA Therapeutics

Bain Closer to Take Chindata Private

Sinovation Joins BlueRun in Eye Care for Children & Young Adults

BlueRun et al Appreciate Quality Sound from Earbuds

Legend & Lenovo Co-lead to Boost Computing Power

Eight Roads & Sherpa to Digitise Clinical Trials

Lilly Asia & Lapam Co-lead to Treat Abnormal Heartbeats

Matrix Leads in Solar Energy Play

Pegasus & Hong Kong-based Investors to Provide Postpartum Care

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Divestments

Gambol Pet Debuts on SZSE’s ChiNext

Huaqin Technology Debuts on Shanghai Stock Exchange

Longreach Exits from Medical Device CDMO Play, Quasar Medical

India

Funds

pi Ventures & Elev8 Close their Respective VC Funds

Investments

Baring India & Promus Ventures in Analytics Firm

IvyCap Ventures to Provide Loan to Study Abroad

StepStone Leads in Zepto’s US$200 Mn Round

Matrix & Nexus to Source for Engineering Products

QIA Pledges US$1 Bn in Reliance’s Retail Arm

ChrysCapital Picks up Stake in Engineering Equipment Manufacturer

TPG & Temasek Revisit Dr Agarwal for Eye Checkup

Morphosis & 3one4 to Transport Workload to the Cloud

Westbridge & Accel Double Down on Debt Collection Platform

Matrix & Lightspeed to Receive Fixed Returns from Investment Platform

360 ONE Joins Kae Capital & Dallas VC to Upskill Employees

Temasek Supercharges Mahindra & Mahindra’s EV Unit

FMO to Trade Organic Produce in India

KKR Takes a Leap of Faith in Supply Chain Play, LEAP India

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Divestments

Tiger Global Completes Exit from Zomato

Apax Concludes Investment in Gold Loan Financier, Manappuram

BPEA EQT Parts Ways with Coforge

Everstone Trims its Stake in SJS Enterprises

TVS Supply Chain Listed on BSE & NSE

Concord Biotech Debuts on India’s Stock Exchanges

Ares SSG Exits from Religare Enterprises

TPG NewQuest Pares Down Interest in Ujjivan

General Atlantic Further Trims its Stake in 360 ONE

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Japan/South Korea

Funds

Endeavour United Raises ¥53 Bn for its FUND III

Investments

Mirae Asset Venture et al in SK Telecom’s AI Processor Spinoff

Mitsui Sumitomo Insurance VC & Pacific Bays in Space Robotics

UCK Partners to Order Snowflake Shaved Ice Dessert

STIC Ventures in Communication Security Services Provider

Morgan Stanley Tactical Value Helps SMEs with Bookkeeping

Globis & SMBC VC to Provide Microfinancing to MSMEs in Developing & Frontier Markets

Altos Ventures Backs AI Startup

J-STAR to Privatise Food Seasoning Producer

JIP Launches Tender Offer for Toshiba

THE FUND Doubles Down on Energy Solution Provider

Altos & Kakao Back Women Fashion Platform

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Divestments

Trustar Capital Exits Machine Vision Optical Components Manufacturer

IMM PE Takes Home 54.7 Bn Won through Put Option on Socar

CLSA Disrobes Uni-Mate Inc

Advantage Partners Exits from Ticketing Marketplace, Wavedash

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Southeast Asia

Funds

Mitsui & Nomura Make Allocations to New Forests’s SE Asia Forestry Fund

Growtheum Raises US$567 Mn Maiden Fund for SE Asia

Investments

Delivery Hero et al Venture to Singapore for POS & Payment Platforms

Northstar & AppWorks to Provide Paediatric Care in Indonesia

Earth VC & Investible in Solar AI

North American Investors Travel to Singapore for Market Intelligence

Horizons & Alpha JWC Take Another Ride with ALVA, an EV Bike in Indonesia

RRJ Capital Pumps in US$300 Mn for Malaysia’s Energy Infrastructure Firm

GGV Capital Invests in Singapore’s IoT Startup

DEG & Ceniarth Join 1982 Ventures in Agri Trading Platform

KIP & Golden Equator Join Investible & Others to Empower FMCG Distribution

AGIC Capital’s 2nd Fund Makes its Debut Asian Deal

Gaorong & Proxima Lead in Singapore’s BioTech Startup

Citi Ventures, MUFG Join EDBI in Digital Wealth Advisory

Investible & eWTP Revisit Live Commerce Marketing

Carlyle Revives its Quest in Engineering Company

Openspace & Alpha JWC Believe in Beleaf Farms

Rakuten & Peak XV Buy eSIMs from Airalo

Northstar Backs Generative AI Video Tool

Vulpes and Do Ventures Revisit Online Classes

Openspace Revisits Telemedicine App for More Health Advice

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Divestments

Dymon Asia No Longer Handles Medical Waste Treatment

Olympus Asia Pares Down Interest in Constant Energy

Rest Of Asia/Rest Of The World

Funds

Blackstone Closes its Largest Tactical Opportunities Fund

Blackstone Raises US$7.1 Bn for Latest Green Private Credit Fund

CVC Asia Raises US$4.5 Bn for its Asia Fund VI

CVC’s Secondaries Platform, Glendower Capital, Closes US$5.8 Bn Global Fund

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Investments

Lightspeed to Build Apps with Generative AI

QIC et al in AI-driven Human Resources Platform

NIO Capital Leads in EV Powertrain Systems

Blackbird & King River Go to the US for Cybersecurity Play

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People on the Move

CDPQ India’s Chief Left the Pension Fund

Picus Capital Names Head of India & SE Asia

Mr CJ Lee Said to be Leaving Affinity

Future Fund Names New CIO

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