Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- TikTok Takes Controlling Stake in Tokopedia: TikTok Shop’s shutdown in Indonesia led to a strategic deal between TikTok and GoTo-owned Tokopedia. TikTok has invested over $1.5 billion in the enlarged entity, holding a 75.01% stake.
- Southeast Asian PE Major Northstar Group Closes Venture Capital Fund: Northstar Group secured the final close of its maiden venture capital fund at $140 million.
- Oman Investment Authority Focuses on Southeast Asia: The Oman Investment Authority is expanding its focus to Southeast Asia, considering the region as “the next China.”
- TVM Capital Healthcare Receives Capital Commitment: Dubai and Singapore-headquartered TVM Capital Healthcare received a capital commitment from Dutch investment firm Invest International.
- General Atlantic Files for IPO: Private equity firm General Atlantic has confidentially filed for a US initial public offering, considering listing next year depending on market conditions.
- Seraya Partners Raises $800 Million for Infrastructure Fund: Singapore-based Seraya Partners raised $800 million for its inaugural Asia infrastructure fund from investors including Asian Infrastructure Investment Bank and BlackRock.
- Infroneer Holdings Plans to Acquire Japan Wind Development: Japanese civil engineering group Infroneer Holdings plans to acquire wind power company Japan Wind Development from US private equity firm Bain Capital for an estimated $1.36 billion.
- CTC Capital Holds First Close of RMB Fund: China’s CTC Capital held the first close of a new RMB-denominated fund at $167.2 million to focus on the country’s integrated circuit industry.
- CVC Capital Partners Acquires Sogo Medical Group: European fund CVC Capital Partners agreed to acquire major Japanese pharmacy operator Sogo Medical Group for an estimated $1.2 billion.
- Bain Capital Sells Stake in Axis Bank: Private equity firm Bain Capital sold a $448-million stake in Indian private lender Axis Bank in a block trade.
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