In early December, DealStreetAsia was the first to report about talks between GoTo’s Tokopedia and short-video app TikTok for a potential partnership that could pave the way for the ByteDance-owned company’s comeback in the archipelago. We followed it up with top-notch analyses on the ramifications of the deal for not only the two companies but also Indonesia’s e-commerce landscape.
As always, we ensured our readers were on top of all that was happening in the PE-VC world with exclusive deal stories, interviews, and cutting-edge analyses.
Last but not the least, our year-end specials captured the best and worst of 2023 cutting across industries and what to expect in 2024.
Did you miss all this? Don’t worry, we have you covered through this list of our top stories from December 2023.
Stories from Southeast Asia
TikTok’s potential partnership with Tokopedia will raise the stakes for e-commerce rivals
After breaking the news on an imminent deal between TikTok and Tokopedia, this story explored how such a move would intensify competition in the already crowded Indonesian e-commerce market.
Stock market gives a thumbs down to TikTok-Tokopedia strategic deal
ByteDance-owned TikTok’s $1.5-billion investment commitment to Indonesian tech giant GoTo’s e-commerce unit Tokopedia did not go down well with the markets as GoTo’s shares closed about 20.37% lower.
Fintech, e-commerce remain Indonesia’s show-stoppers in 2023. Will new stars emerge in 2024?
Continuing a trend in place for over a decade now, fintech and e-commerce continued to top the investment charts in 2023 even as overall equity funding for Indonesian tech firms slowed down.
Vietnamese PE firms go slow in 2023 but seen deploying more next year
Vietnam saw a slowdown in private equity activity in 2023 as investors turned picky in assessing new deals amid turbulent times. This year could be better.
Cashing in on the ecosystem will be key to winning Indonesia’s digital banking race
Indonesia’s digital banking landscape has seen the emergence of several new players recently, all riding on the vast ecosystem of their prominent backers. However, their success in the long run will depend on how well they can utilise the ecosystem, analysts told DealStreetAsia.
AI platform Attentive in talks with Vertex Ventures, Surge, InfoEdge to raise funds
Temasek-backed Vertex Ventures, one of Singapore’s largest and oldest venture capital firms, is in talks to invest in conversational commerce platform Attentive.ai Inc, which has a significant presence in India.
Indonesia’s consumer startups draw investors but must raise their game to stay the course
Indonesia’s direct-to-consumer industry is undergoing a new phase of growth, presenting both opportunities and challenges, but the key is to adeptly adapt to evolving market conditions and effectively reach consumers through a combination of online and offline channels.
GPs in SE Asia may need to brace for another tough fundraising year
Southeast Asian private equity firms on the road to raise new vehicles may face a bumpy road ahead as the chilling effects of 2023’s funding winter are expected to continue.
Indonesia may emerge as top draw for PE firms despite challenging market
Indonesia is expected to be a top destination for private equity investments in the future, but a complex market and dearth of sizeable assets could pose challenges.
The LP View: Oman Investment Authority bullish on SE Asia as it seeks to expand APAC footprint
Southeast Asia can be considered ‘the next China’ in the coming years, given its macro perspectives, the Oman Investment Authority’s Mohammed Al Maani told DealStreetAsia in an exclusive interaction.
Stories from Greater China
China EVs log early success in global forays, but brace for a challenging 2024
2023 was a record year for Chinese EV exports, but industry analysts anticipate many speed bumps in the road ahead.
Hong Kong’s charm offensive to win over family offices still has a ways to go
Hong Kong has been pulling out all the stops to restore its standing as a global financial hub but still has more work to do in reclaiming its image in the eyes of the global rich, especially after intense competition from rival city Singapore for investments and talent.
Rise of Micro Connect sparks debate on revenue-based financing model in China
Hong Kong-based Micro Connect, a microfinance platform that recently secured $458 million in a Series C funding round, has drawn sharp criticism for its revenue-based financing model – a concept relatively new in China.
Stories from India
Despite late start, India’s IPO fundraising in 2023 looks poised to top last year’s levels
After a gush of initial public offerings in 2021, and the sudden lull witnessed in 2022, India’s primary market fundraising picked up steam once again in the latter half of 2023.
India: BPEA EQT-backed Indira IVF in talks to buy Sabine Hospital & Research Centre
BPEA EQT-backed Indira IVF, the largest fertility chain in India, is in talks to acquire rival Sabine Hospital & Research Centre.