We are back again with our curated list of exclusives, interviews, and fundraising updates.
Exits first
In this scoop, Ngoc reported that Standard Chartered Private Equity is said to be putting its stake in Vietnamese agribusiness Loc Troi Group up for sale. SCPE had initially acquired a 34% stake in Loc Troi for over $90 million from a consortium led by Vietnam-based asset management firm VinaCapital.
Meanwhile, Singapore-based KV Asia Capital is seeking buyers for Malaysian hypermarket chain TF Value Mart, Ka Kay wrote in her exclusive story. The investment firm is learnt to be seeking as much as $238.6 million for the retailer.
And, fundraising momentum continues
Vivo Capital, which invests in healthcare firms across the US and Greater China, has amassed $1.28 billion for its fund.
The Minnesota State Board of Investment has committed $50 million to Warburg Pincus‘ China-Southeast Asia-focused private equity fund.
Dutch development bank FMO has proposed a $20-million investment in Navegar II LP, the latest vehicle of the Philippines-focused PE fund.
GOJEK backer Openspace Ventures is looking to raise $500 million for its third fund which will be launched later this year.
Singapore-based UOB Group’s PE unit is raising $500 million for its fourth vehicle, Asean China Investment Fund IV.
EQT Partners is said to be considering the launch of its next Asia mid-market fund, a vehicle that may be much larger than its $800-million predecessor.
Actis is preparing to launch its second Asian real estate fund and may start fundraising before the end of this year.
Vertex Ventures is launching a $770-million fund, 20% of which will be contributed by Japanese investors.
Patamar Capital has raised $23.6 million for the first close of Patamar Fund II, which has a target of $150 million.
Interviews
This week we featured four interviews with the top executives of VIG Partners, Alibaba Entrepreneurs Fund, GOJEK-backed Indonesian healthtech startup Halodoc and UK private equity major Actis.
News breaks
We had this scoop from Deviana Chuo on Jakarta-based Netzme Kreasi Indonesia, which operates social payments platform Netzme, planning to raise up to $15 million in an IPO on the Indonesia Stock Exchange (IDX) in October or November 2019.
Deviana and Hock also wrote about Singapore-based Al Falah Investment awaiting approval from Indonesia’s Financial Services Authority to acquire a 50.3 per cent stake in PT Bank Muamalat Tbk.
Mars wrote about Asia Partners – the new PE firm co-founded by former Sea Ltd president Nick Nash – roping in former Naspers top executive Oliver Rippel as its co-founder and partner.
Events updates
PLEASE NOTE: Asia PE-VC Summit 2019 (17-18 Sept, Sofitel SG City Centre) tickets are now on sale at $1299 (standard pricing $1999). We have a high caliber speaker lineup this time too and our agenda will track all the trends and developments in the region. Get your tickets now before offer expires!
On July 18, we’re also going to be hosting our very first Subscriber Special event in Singapore, with GGV Capital’s managing partner Jenny Lee as a speaker, among others. The event is open to and free to attend for all biennial, annual and quarterly subscribers. However, there are limited seats available that will be allotted on a first come, first-served basis. Find out more here.
