Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- ByteDance and Tokopedia Merger Aftermath: Six months since the merger, ByteDance’s e-commerce ecosystem has seen significant changes, including a round of layoffs and strategic shifts.
- Indonesia’s Tech IPO Market: After a lull post-2021-22 tech IPO boom, Indonesia’s tech startups are now eyeing public listings in H2 2024 and 2025 as valuations moderate.
- SE Asia’s Public Markets Resilience: Amid widespread optimism about a potential US Fed interest rate cut, SE Asia’s public markets are seeing a revival in IPO plans.
- Investment Roundup: Significant investments include Aruna’s fresh investment, Viz Branz sale process, Capsquare Asia Partners’ continuation fund, Xurya’s funding round, and Superbank’s additional investment.
- Global Investment Updates: KKR’s stake acquisition in Baby Memorial Hospital, OYO’s funding round, Matter Motor’s Series B round, and KargoBot’s Series A financing.
- LP-GP Updates: Norfund’s focus on Southeast Asia, Orios Venture Partners’ fund close postponement, Clime Capital’s clean energy fund closing, and Suzuki Motor Corporation’s social impact fund launch.
- EQT Private Capital Asia’s Mid-Market Fund: The New York Fire Department Pension Fund’s investment in EQT’s mid-market fund focused on Asia.
- GEF Capital Partners Climate-focused Private Equity Fund: GEF Capital Partners’ successful raise of $380.2 million for its latest climate-focused private equity vehicle.
- Siguler Guff’s Emerging Markets Growth Opportunities Fund: Siguler Guff’s upcoming Global Emerging Markets Growth Opportunities Fund II raises over $110 million for its $300 million fund.
- Industry Analyses: LPs direct investments in Indian companies, Indonesian wealth tech sector challenges, the thawing of India’s funding winter, and Southeast Asia’s commitment to energy transition.
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