Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- The West Asia tensions could have a detrimental effect on the world economy, potentially pushing it into recession.
- Indian startup funding hit a 13-quarter low in Q3 2023 due to the impact of macroeconomic uncertainties on investments.
- Chinese AI startup Baichuan Intelligent Technology raised $300 million in its Series A1 funding round, with support from Alibaba, Tencent, and Xiaomi.
- Ramsay Sime Darby Health Care is nearing the final stages of a sale, with Mitra Keluarga likely to acquire the Indonesian business and the Malaysian business potentially sold to CVC Capital Partners, TPG, Affinity Equity Partners, or the Sunway Healthcare Group.
- General Atlantic is the top contender to acquire a 60% stake in Indian hospital chain Cygnus Medicare.
- Prep, a language test preparation platform in Vietnam, is in talks to raise a new funding round.
- Private equity players are increasing their investments in Southeast Asia’s dairy sector, with hopes of future profit.
- Indonesian agritech firms are facing challenges post-pandemic but investors remain optimistic.
- GoPay, GoTo’s payment division, is expanding its services to offer more comprehensive financial services, potentially including insurance policies.
- Global funding in impact investing has remained relatively resilient, with investments and grants to climate tech startups experiencing a less substantial decline compared to the broader venture capital industry.
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