Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- Only five Southeast Asia-focused venture capital funds closed in the first semester of 2024, marking a sharp decline from previous periods, signaling a cautious approach by limited partners.
- First-time managers faced fundraising challenges in the first half of the year, with a decrease in both the number of fund closes and the total capital raised.
- Greater China startups experienced a significant drop in fundraising in Q2 2024, with only $9 billion raised, down 54.9% QoQ, and deal volume declining by 14.6%.
- Chinese state-backed investors supported homegrown startups amid global investors’ caution, resulting in a decline in mega deals.
- LPs, particularly Southeast Asia-based family offices, are progressively allocating more to private assets, with the number of family offices in the region growing significantly.
- Notable LP commitments include IFC considering a $65-million equity investment in the third private credit fund of Singapore-based Orion Capital.
- KKR raised $808 million for its latest private credit fund focused on the Asia-Pacific region, with Intudo Ventures and Monk’s Hill Ventures gauging investor interest for their fourth funds.
- CAS Investment reached the first close of a new RMB fund series to invest in disruptive startups, while MA Financial launched a $675-million real estate investment vehicle.
- Dreame Technology established a corporate venture capital arm for AI and robotics investments while Good Capital is closing its second fund at $40 million next month.
- 360 ONE Asset Management raised $500 million for its first secondary fund, reflecting continued activity in the Asia-Pacific venture capital ecosystem.
APAC Private Markets Research
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Disclaimer:This article by is general in nature and based on publicly available information and not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material. While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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