Our most-read stories in June included scoops on fundraising by Singapore-based oat milk brand Oatside, Vietnamese B2B e-commerce startup Vigo Retail and Indonesian fintech startup infinID.
We also brought you the earnings analysis of the online fast-fashion group Shein, which is said to be pressing ahead with plans for a public listing in London.
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Our other top stories in June included an exclusive report on Bahrain-based Investcorp’s interest in acquiring a majority stake in Indonesian ice cream maker Campina. Deal news from private equity firms Northstar Group and Navis Capital also made it to the list.
From India, one of our most-read pieces was tracing the trend of seasoned Indian fund managers going solo to launch their vehicles. But will they find the path rocky? Scroll down to know more.
If you missed these stories, here is a curated list of trending scoops and analytical takes from June 2024:
Our most read stories of June 2024
EQT takes driver’s seat as growth equity wave triggers buyout deals in SE Asia
A lacklustre IPO market has made exits difficult for investors and left founders grappling with complex ownership structures.
SG oat milk brand Oatside raises $35m so far in Series B funding
The company could raise up to S$100 million in the round, with backing from certain existing shareholders, including Singapore state investor Temasek.
SE Asian gummy candy maker Yupi hires Jefferies to sample options
The confectionery company’s existing shareholders – Mahanusa Capital and Indonesian conglomerate Gunung Sewu – may also look at offloading partial stakes in Yupi to a new buyer.
Investcorp set to acquire majority stake in Indonesian ice cream maker Campina
Investcorp has been increasingly betting big on Southeast Asian markets such as Thailand, Indonesia and Singapore.
Vietnam B2B e-commerce startup Vigo Retail raises funding from Argor Capital, others
Lead investor Argor Capital, formerly Go-Ventures, contributed $7.5 million to the round, while Wavemaker Partners injected $1.5 million.
Argor Capital, Insignia Ventures back Indonesian fintech startup infinID
Lead investor Argor contributed $4.6 million, while Insignia Ventures, infinID’s first institutional investor, re-upped in the round.
Singapore’s Jungle Ventures said to target $600m for latest fund
The Singapore-headquartered firm announced the close of its fourth vehicle at $600 million in May 2022, crossing $1 billion in assets under management.
Southeast Asian PE firm Navis backs two hospitals in Cambodia
Navis already holds stakes in Hanoi French Hospital in Vietnam, S-Spine and Nerve Hospital in Thailand, and Aurelius Healthcare in Malaysia.
Investors spot a silver lining in SE Asia’s demographic shift
So far, capital has flowed more into the real estate side of aged care, such as retirement villages or nursing homes, but private capital investors expect new models catering to the needs of senior citizens to emerge soon.
Northstar in talks with Chinese SOE to sell auto parts business of SG-based Innovalues
The asset that is up for sale is Innovalues’ auto parts business, which contributes a major portion of the group’s revenue and operations.
Middle East SWFs interested in China if geopolitics could be put aside: MSA Capital
The ongoing Sino-US geopolitical tensions have complicated Middle East-based sovereign funds’ deployment in China, said Ben Harburg, managing partner of MSA Capital.
Online fashion group Shein clocked $21.6b revenue, $633m profit in 2022
Online fast-fashion group Shein, which is said to be pressing ahead with plans for a public listing in London, recorded an over fourfold growth in revenue in 2022.
Leo Capital closes Fund III below target as LPs exercise restraint
Leo Capital’s third fund closing below target reflects a broader slowdown in funding activity in India and Southeast Asia and a tough fundraising landscape.
Seasoned Indian fund managers step down to launch own vehicles, but will it be an easy ride?
First-time funds in India amassed only $15 million during the first quarter of this year, a mere 1.14% of the overall $1,314 million raised by GPs during the January-March period.
India: Late-stage startup funding dips to five-year low of $2.3b in Jan-May
Even as startup fundraising in India has started to show green shoots of recovery, late-stage deal activity has been overall subdued compared to the past years.