Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- India’s General Elections Outcome: PM Narendra Modi’s NDA alliance scraped through with BJP losing outright majority, impacting stock market initially but later recovering as Modi secured the numbers for a third term.
- Private Equity and Venture Capital Landscape: Fund managers accumulating dry powder for deployment, with prominent launches of investment vehicles by seasoned managers like IFC’s Ruchira Shukla and Piyush Gupta.
- Startup Investments in India: Recouping with $1.9 billion raised in May, highest in nearly two years, including big-ticket deals with six startups securing over $100 million in funding.
- LP-GP Updates: Various investment activities reported, including Hades Financial’s commitment in India, Aura Group raising its first PE fund, and Patamar Capital’s credit fund targeting women-led enterprises in SE Asia.
- Infrastructure Investments: Coalition formed by KKR, GIP, and others to invest $25 billion in Indo-Pacific infrastructure, while Sunrise Capital KK and AHAM Asset Management announce fund raising for their respective ventures.
- Corporate Investments: Fubon Life Insurance committing $270 million in funds managed by KKR, Porsche Ventures securing first close of its debut Chinese VC fund, and China’s initiatives in solid-state battery technology for EVs.
- Startup Deals: Lenskart raises $200 million, Nium secures $50 million in funding, and ITM announces equity investment led by Temasek, among other investments in companies like Vigo Retail and Fibe.
- Going Public: Updates on IPOs with China tightening its grip on the stock market, S.F. Holding receiving regulatory approval for a secondary listing, and QuantumPharm eyeing IPO in Hong Kong to fuel global expansion.
- Market Moves: Bajaj Housing Finance approved filing for an IPO, Japanese startup Astroscale Holdings sees a successful listing, and EU retail industry pushing for protection against low-cost products from players like Shein.
- Deep Dives and Interviews: Analysis on alternative proteins, insight into consumer lending businesses of Southeast Asia’s tech giants, and profiles on startup ventures like Xanh SM in Indonesia and P2P lending platform Amartha in Indonesia.
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