Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- SE Asia startups saw their worst performance in private funding deals in the last six years, with only 134 equity deals raising a total of $979 million.
- Quarterly proceeds fell below the $1-billion mark for the first time since 2019, indicating a challenging funding environment in the region.
- Deal volume plummeted to 474 in the first nine months of 2024, the lowest since 2020, with year-to-date funding at $3.26 billion, less than half of the previous year’s amount.
- Global impact fund manager LeapFrog Investments is finalizing the close of a delayed $1-billion fund, showcasing continued interest in the region’s potential.
- Asia Pacific’s private equity secondaries market is now seeing more buyouts, with secondaries players providing liquidity to investors in attractive portfolios.
- Malaysia’s sovereign wealth fund, Khazanah, is launching initiatives to boost its venture capital ecosystem following key acquisitions.
- Hong Kong government plans to create a $1.2 billion fund of funds to invest in the technology sector, aiming to enhance the city’s position as a technology hub.
- US private equity giant Warburg Pincus committed $327 million to a Real Estate Credit Vehicle, facilitating global institutional investors’ access to Australia’s real estate market.
- India’s budget supermarket chain, Vishal Mega Mart, filed for an IPO worth $952 million, reflecting the country’s bustling capital market.
- Alibaba Group’s Sun Art Retail Group received a privatization offer, underlining the company’s efforts to divest its offline retail assets and adapt to changing market dynamics.
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