That week – June 26th to July 1st

That week – June 26th to July 1st

BYU’sIndia’s brightest edtech startups are trying to pass their own exams. The company, whose valuation has skyrocketed during the pandemic, has grabbed headlines several times this week, mostly for the wrong reasons.

After the global investor exits –Pinnacle XV Partners, Prosus,as well as Chan Zuckerberg Initiative– leaving the board and losing the auditor Deloitte The startup is currently in the throes of raising new funding due to delayed financial statements.

Bloomberg reported this week that BYJU’S is offering benefits to potential investors, such as preferential treatment in liquidation, as the company looks to add $1 billion to its funding.The ed-tech company is also looking for investors to sell up to 20% of its 70% stake in educational institutions Akash Educational ServicesAcquired the company in 2021 for $950 million.

Meanwhile, BYJU’S and some of its lenders embroiled in legal disputes have reportedly restarted negotiations to restructure a $1.2 billion term loan.

at the same time, Prosus That cut the company’s fair value to $5.1 billion, the second price cut by the Dutch tech investor in less than a year.

Employee morale at the startup, which has already resorted to massive layoffs, is reportedly underwhelming despite the company’s assurances to investors that it will submit audited earnings for 2022 by September and results for 2023 by December. rapid decline.

While we’re on the topic of edtech, sources told DealStreetAsia this week that the Indonesian edtech startup Zenius May be sold. The start-up has been doing too much lately, from signing an expensive deal with Disney to launching live online classes and running offline courses, a source said. Zenius has reportedly made several layoffs recently.

While the industry’s honeymoon period appears to be over as edtech has kept investors on edge during the pandemic, it remains an open question whether there will be a second boom for edtech startups.

research and reports

We know there is a diversity problem in the VC ecosystem in Southeast Asia, but putting a number on it helps us understand the magnitude of the problem. Women in the Southeast Asia Venture Capital Ecosystem 2023 Report by DealStreetAsia – DATA Vantage This week’s release does just that.

The report found that women make up just 17.4 percent of decision makers among VCs based in Southeast Asia. Additionally, some 67 percent of regional investors still do not have women in investment decision-making roles.

While optimistic types expect improvement by 2022, when roughly 77% of investors are missing a female checkwriter, the numbers are still worrisome.

This week we also published a report on Indonesian diversified financial companies. As e-commerce businesses, fintech firms and other financial services start-ups face challenges such as access to capital, multifinance companies could be key players in bridging these gaps By.

LP-GP News

RTP GlobalA global venture capital firm has launched a new $1 billion fund to invest in startups in North America, Europe, India and Southeast Asia. The company said the funds will be deployed in areas such as artificial intelligence/machine learning, enterprise software, fintech, e-commerce and edtech.

Cathay Capitalprivate equity department, Cathay Private Equity Investmentraised about $261 million in the final closing of its fourth small-cap fund, which invests in companies in Europe, North America and Asia.

Gaw Capital Partnersis a real estate private equity firm run by one of Hong Kong’s wealthiest families, and its latest Asia-Pacific flagship real estate fund has closed with $3 billion in capital.

Hong Kong Private Credit Manager ADM Capital A $200 million Indonesia-focused climate fund is on the market.

MDI VenturesTelkom Indonesia’s corporate venture capital arm is planning to launch a new fund with a target size of about US$200 million.

Indian Venture Fund arkham investment corp. Launched a second fund with a target of $180 million investing in 20 startups.

Indian AgTech Venture Capital Omnivores Its third fund debuted at $150 million. The vehicle will invest in agriculture, food, climate change and rural development start-ups.

Sundaram substituteis a subsidiary in India Sundaram Groupis seeking to raise up to $182 million for its fourth real estate private credit fund to capitalize on India’s growing real estate demand.

Growth and late-stage technology investment companies Epi Capitalbackers of startups including India lens card, cureand daily huntSecured final closing of $225 million for its second fund.

US development bank International Development Finance Corporation (DFC) is planning to invest nearly $100 million in two health and energy projects in India. DFC and US private equity firm I Squared are also partnering to invest US$1.2 billion in green infrastructure projects in emerging markets.

Deals and Fundraising News

malaysian company creator Acquired 40% stake in Malaysian pet food brand owner International Pet World from Tackling Private Equity and the founding family of Pet World.

Singapore IoT Service Provider Una Business It plans to raise $100 million in Series C funding this year.

Indian Paving Capital In-depth discussions underway to lead pre-Series A round for industrial AI startup LivNSense Technology.

Japan Consumer Finance Group Orico investing Integrity Fintechis an Indonesia-focused fintech startup that this year built a full-scale virtual credit card business for smartphones.

indonesia fish technology co., ltd. electronic fishing Has received $20 million from Abu Dhabi sovereign wealth fund ADQ as part of its Series D financing.

New York-listed global alternative asset management company Apollo invested in pan asia health co., ltd.the holding company of Southeast Asian healthcare provider Health Management International (HMI).

Singapore Travel Technology Company to pay Raised $33 million in Series B funding led by SC Venturesaccording to the announcement.

long read

Many mid-sized banks and financial institutions in Asia benefit from an influx of new clients Silicon Valley Bank. According to several fund managers interviewed by DealStreetAsia, many of them have opened new accounts with prominent banks in the Asia-Pacific region, including Citibank, JPMorgan, DBS and OCBC.

This week we also featured Spiral VenturesA Japanese venture capital firm believes that keeping its team and fund small is key to maximizing shareholder returns. “Our strategy remains the same in Asia Funds 1 and 2. Our aim is to enter at an early stage and exit through secondary markets and M&A…We still see Southeast Asia ready in the growth stage,” Managing Director and CEO Yuji Horiguchi told DealStreetAsia.

at last……

Music is an industry that seems immune to recessions and the vagaries of the macro economy. Meanwhile, the proliferation of music streaming in recent years has ensured that those who own the rights to their songs earn more.

The Music Fund hopes to cash in on this. This week we highlight one such fund launched last called Blacks, which seeks to buy music intellectual property (IP) in North and Southeast Asia. It acquires for three types of music IP: recorded music, composition (eg score) and lyrics. Blackx struck its first deal in May, acquiring more than 230 songs by Taiwanese songwriter Frances Wang.

With the rise of K-pop superstardom signaling the global appeal of Asian artists, the idea may have come at a good time.

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