Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- Grab Reports Positive EBITDA in Q3 2023: Grab Holdings Ltd achieves a significant milestone with its adjusted EBITDA turning positive for the first time, recording $29 million in Q3 2023 compared to negative $161 million in the same period last year.
- Wavemaker Partners Seeks $150 Million for Fifth Fund: Singapore- and Los Angeles-based venture capital firm, Wavemaker Partners, plans to raise $150 million for its fifth fund to support startups in Southeast Asia’s technology industry.
- ABC Impact Raises $200 Million for Second Impact Fund: Temasek-backed private equity firm, ABC Impact, is nearing the first close of its second impact fund with a target of $200 million. The firm aims to raise a total of $600 million.
- Japanese Pension Fund Commits $1 Billion to Real Estate Funds: The Government Pension Investment Fund of Japan invests $1 billion in real estate funds managed by Brookfield Asset Management and Blackstone.
- Cathay Life Insurance Commits $32 Million to EQT’s Flagship Fund: Taiwanese insurer Cathay Life Insurance pledges an additional $32 million to EQT’s latest flagship fund, reinforcing its commitment to the private equity firm.
- Brookfield Asset Management Raises $26 Billion in Q3: Canadian investment firm Brookfield Asset Management experienced a surge in capital raising, securing $26 billion in the third quarter across various private debt strategies.
- MBK Partners Raises $7 Billion for Sixth Flagship Fund: North Asia-focused private equity firm MBK Partners aims to raise up to $7 billion for its sixth flagship fund, which exclusively invests in China, Japan, and South Korea.
- KKR Raises $2.8 Billion for Global Impact Fund: Global investment firm KKR successfully closes its second global impact fund, amassing $2.8 billion to support investments that advance sustainability and social equity.
- Anchorage Capital Partners Closes Fourth Institutional Fund: Sydney-based private equity turnaround specialist, Anchorage Capital Partners, surpasses its target of A$500 million ($321 million) for its fourth institutional fund.
- Omega Hospitals Seeks Funding for Expansion: Oncology specialist chain Omega Hospitals in India is in talks with private equity players, including Morgan Stanley Private Equity Asia, to raise funds for its expansion plans.
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