Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- Venture investment firms are rebranding their China operations to distance themselves from their US activities amid tensions between the two countries.
- Sequoia, BlueRun Ventures China, and GGV Capital have already undergone splits or rebranding.
- GGV Capital is set to split its Asia and US businesses in Q1 next year, focusing solely on investing in China.
- Several venture investment firms, including GSR Ventures, Walden International, and Qualcomm Ventures, are under scrutiny by Congress for their China investments, indicating more splits may be on the horizon.
- IPOs in the US market have not lived up to the hype, with SoftBank-backed Arm, Klaviyo, and Instacart seeing lukewarm investor response.
- Vietnamese unicorn VNG Corporation postponed its listing plans due to the underperformance of these newly-listed shares.
- Multiple Southeast Asian companies, such as Funding Societies, Gushcloud International, Sunday, Hotel101 Global, and Ryde, have announced US IPO plans or are considering listing in New York.
- Chinese companies waiting for regulatory approval for overseas share offerings, leaving a void in the Asian IPO market.
- Indian hotel operator Samhi Hotels’ listing was oversubscribed five times, indicating investor interest.
- Hong Kong-based Tuhu Car, Beijing Fourth Paradigm, Neusoft Xikang, and ZX Inc are aiming to raise significant funds on HKEX, signaling potential growth in the Asian IPO market.
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