Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- China Tech Giants’ Earnings: Companies like Alibaba, Tencent, Baidu, and JD.com reported mixed financial updates this week.
- Sea Ltd’s Q1 Earnings: Sea reported a net loss of $23 million in Q1 2024, with a 23% year-on-year revenue growth from its e-commerce arm, Shopee.
- Grab’s Revenue Growth: Grab’s revenue grew by 24% in Q1 to $653 million, prompting an upward revision of its full-year adjusted EBITDA guidance.
- Mubadala’s Asset Growth: Abu Dhabi’s Mubadala saw a 9.5% increase in assets under management in 2023, reaching 1.11 trillion dirhams.
- CapitaLand’s Investment Outlook: CapitaLand Investment anticipates a promising vintage for real asset investments in the Asia Pacific in 2025.
- Waterfield Fund of Funds Perspective: Waterfield Fund of Funds MD, Siddharth Jhunjhunwala, shared insights on India’s dealmaking scenario and its impact on capital flow from LPs.
- ShawKwei’s Investment Strategy: ShawKwei is actively considering investment opportunities in the secondary space due to favorable valuation landscapes.
- Saudi Venture Capital Investment: Saudi Venture Capital announced a $30 million investment in a PE fund managed by General Atlantic.
- China Life Insurance Fund: China Life Insurance established an RMB-denominated equity investment fund of 10 billion yuan for the country’s silver economy.
- Accion’s Financial Fund: Global non-profit Accion launched a $152.5 million fund to invest in financial institutions serving small businesses globally.
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