March 2017 ASEAN Private Equity Updates

Photo: Nicolas Lannuzel/CC BY-SA 2.0

Mar 2017 – Healthway Medical receives S$8.6 million from Gateway

Healthway Medical Corporation (HMC) has finally received the net proceeds of the first tranche of a S$70 million (US$50 million) convertible notes deal with Gateway Partners to solve its immediate cash needs, such as paying doctors’ and nurses’ salaries.

Mar 2017 – Carro lands US$12 million, SEA’s leading transactional auto marketplace based in Singapore raised US$12 million in its latest round of funding. The funding will go towards developing Genie Financial Services, a hire purchase provider that offers speedy auto loan approvals and artificial intelligence (AI) based chat-bots to customers. The investors included Venturra, Singtel Innnov8, Golden Gate Ventures and Alpha JWC.

Mar 2017 – World Bank’s IFC investment firm invested US$2 million in SeedPlus (an SEA Fund)

IFC confirmed that it has invested US$2 million in the SeedPlus fund. SeedPlus reportedly has a fund size of US$20 million in 2015.

Mar 2017 – Singapore SaaS startup Ematic raised US$2.4 million to enhance AI-based email marketing tools

Singapore-based SaaS email marketing company Ematic Solutions has raised US$2.4 million. Walden International, as well as existing investors Wavemaker Partners, MDI Ventures and Convergence Ventures took part in this fresh funding. Ematic has raised a total of US$4.4 million to date.

Mar 2017 – Citic Capital Partners eyes US$2 Billion close for latest China buyout fund

Citic Capital Partners, the buyout arm of Chinese alternative investment manager Citic Capital, is nearing a US$2 billion close on its third China-focused buyout fund.

Mar 2017 – Dymon Asia announces first close of its debut US$50 million fund for fintech

Hedge fund Dymon Asia is getting into the venture capital game after it announced its maiden fund. Dymon Asia Ventures is focused on fintech deals and it is targeting a $50 million raise. Dymon Asia said a final close of the fund will happen over the next 12 months.

Introduction of mentioned PE firms

Golden Gate Ventures

  • Established in 2011
  • 2 funds
  • Strategy: Venture
  • Focus: Asia Pacific

Citic Capital Partners

  • Established in 2002
  • AUM US$1.4 billion, 20 funds
  • Strategy: Buyout
  • Focus: Asia Pacific • Europe • Latin America • Middle East & Africa • North America

Dymon Asia Private Equity

  • Established in 2012
  • 2 funds
  • Strategy: Buyout • Growth
  • Focus: Asia Pacific