Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- **India’s General Elections Kick Off**: India has begun the world’s largest democratic exercise with voting opening in the first phase of the general elections. Results will be revealed on June 4, determining Prime Minister Narendra Modi’s fate.
- **Investment Trends in Indian Startups**: Private equity and venture capital investments in Indian startups dropped to $2.61 billion in Q1 2024, down 11% from the previous quarter. Megadeals saw a significant 65% sequential decrease.
- **Anticipation for Bitcoin Halving**: Bitcoin underwent its halving event this week, reducing the issuance of new tokens by half. This event, occurring roughly every four years, is closely watched by the cryptocurrency community.
- **LP-GP Updates**: Various investment firms like Jebsen Capital, Shinhan Venture Investment, and Kamet Capital have secured significant funding commitments and closed-end funds, while others like TPG Asia VIII and Wavemaker Partners have received substantial investments.
- **Top Deals of the Week**: Major deals include Microsoft’s $1.5 billion investment in AI firm G42 and US private equity firm Warburg Pincus’ investment in Vietnam-based hospital group Xuyen A. The sale of Invictus International School and Abu Dhabi Islamic Bank’s stake in Indonesia’s Bank Syariah Indonesia are also making headlines.
- **Interviews with Industry Leaders**: Insights shared by Ruchira Shukla and Karthik Chandrasekar of VC firm Synapses, Ashish Agrawal from EQT Private Capital Asia, and Nicolas Travis from skincare brand Allies of Skin shed light on current market trends and investment opportunities.
- **Deep Dives into Market Dynamics**: Examining the potential resurgence of the Hong Kong stock market and Vietnamese EV maker VinFast’s expansion plans in Indonesia provide deeper insights into specific market sectors.
- **Climate Investments**: Climate tech startups in Vietnam are attracting venture funding, while global initiatives like the joint loan commitment by BII and FMO to BECIS in Asia and BlueOrchard’s climate insurance private equity fund are making significant strides in sustainable investments.
- **Breakthrough Energy Initiatives**: Bill Gates’ Breakthrough Energy’s programme in Singapore aims to promote early-stage climate technologies, while Indian companies like GPS Renewables and Ecozen secure substantial funding for clean energy projects.
- **Upcoming Event Alert**: Join the exclusive event “Road to IPO: What does it take?” on May 3 in Singapore, organized by in partnership with leading financial firms. Gain insights into the journey to a public listing and mark your calendars for this must-attend event. Stay tuned for more updates next week!
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