Asia rivals the US as one of the world’s largest private capital markets, led by China, where activity in biotech, education and consumer sectors drove investment to a record USD72b in 2020, including a record USD48b in venture investment. GPs deployed a record USD29.5b in India, targeting tech, healthcare and infrastructure opportunities, and USD10.6b in Southeast Asia, the second highest year on record.
From our Singapore headquarters, the GPCA Asia research team covers China, Southeast Asia, India and neighboring South Asian markets.
An archive of Asia research reports can be found here.
Members can access GPC Analytics for a ten-year archive of Asian private capital transactions and data cuts.
Research Team
Ethan Koh, Asia Research Director
Alex Fichter, Research Analyst
Essa Saifie, Research Analyst
Zheng Lin, Research Analyst
Asia Research
2022 Southeast Asia Data Insight
March 29, 2022Despite rolling COVID-19 travel restrictions across much of Southeast Asia in 2021, investments reached a record USD21.5b with e-commerce, logistics and payments companies leading the way Additional analysis includes: Highlights… Read More
2022 India Data Insight
March 29, 2022Private capital investment in India concentrated in the consumer goods & services industry with a record USD23.5b invested in 2021 as companies targeted the second-largest consumer market globally. Additional analysis… Read More
2022 Global Private Capital Industry Data & Analysis
February 16, 2022GPCA members can log in to download the complete 2022 Industry Data & Analysis Excel file. GPCA data through year-end 2021 across Asia, Latin America, Africa, CEE and the Middle… Read More
Mid-Year 2021 Global Private Capital Industry Data & Analysis
September 16, 2021GPC 1H 2021 data on fundraising, investment and exit activity across Asia, Latin America, Africa, CEE and the Middle East Key data takeaways: All major markets posted year-over-year gains… Read More
2022 Southeast Asia Startup Directory
February 22, 2022GPCA Members can log in to receive exclusive access to the underlying data (Excel). VC funding in Southeast Asia reached a record high of USD10.3b in 2021. Our inaugural Southeast Asia Startup Directory… Read More
China 2021 Data Insight
May 26, 2021Rebounding quickly from the pandemic, China VC activity drove private capital investment to USD72b in 2020 Private capital fund managers invested a record USD72b in China in 2020, driven by… Read More
Emerging Tech Trends in Southeast Asia: Foodtech, Fintech, Healthtech and Edtech
November 8, 2021COVID-19 has accelerated digital transformation in Southeast Asia. As the digital economy expands, so does investment in tech-enabled businesses. According to data compiled by GPCA, technology deals accounted for 83%… Read More
GPCA Trends in Global Tech
February 16, 2022GPCA Trends in Global Tech traces record venture capital flows across Africa, India, China, Southeast Asia, Latin America, Central and Eastern Europe and the Middle East. With VC representing 55%… Read More
India 2021 Data Insight
March 31, 2021GPs deployed a record USD29.5b in India, targeting longterm technology, healthcare, and infrastructure opportunities Private capital deal value in India reached new highs in 2020, even as the pandemic and… Read More
Southeast Asia 2021 Data Insight
March 31, 2021After a record-breaking 2019, GPs raised USD1.9b Southeast Asia-dedicated funds raised USD1.9b in 2020 as fewer venture capital (VC) managers returned to raise capital after a historic year in 2019.… Read More
Asia News
LeapFrog Leads USD61m Round for India’s Redcliffe Lifetech
LeapFrog Investments led a USD61m round for India-based diagnostics platforms Redcliffe Lifetech, with participation from Healthquad, Schroders, LC Nueva and Growth Spark Ventures, and follow-on from Chiratae Ventures and Alkemi… Read More
DST Global Leads USD95m Series B for Indonesia’s Moladin
DST Global led a USD95m Series B for Indonesia-based used car marketplace Moladin, with participation from East Ventures, Northstar Group and Sequoia Capital India. Read More
Sequoia India, Alpha Wave and Tiger Global Invest USD100m in India’s Absolute
Sequoia Capital India, Alpha Wave Global and Tiger Global invested USD100m in India-based agtech Absolute. Read More
Square Peg Capital Leads USD37m Series B for Malaysia’s LottieFiles
Square Peg Capital led a USD37m Series B for LottieFiles, a Malaysia-based motion graphics platform for designers and developers, with participation from XYZ Venture Capital and GreatPoint Ventures, and follow-on… Read More
Apollo Invests USD750m Debt in Mumbai International Airport
Apollo invested USD750m in debt in Mumbai International Airport via a private placement. Read More
IIFL Leads USD50m Series D for India’s Open
IIFL led a USD50m Series D for India-based neobank Open at a reported USD1b valuation, with follow-on from Tiger Global, Temasek and 3one4 Capital. Read More
YC Continuity Leads USD200m Series D for India’s Zepto
India-based instant grocery delivery startup Zepto raised a USD200m Series D led by existing backer YC Continuity at a ~USD900m reported valuation, with participation from Kaiser Permanente and follow-on from… Read More
Amansa Capital, Jungle Ventures, Nexus VP Lead USD120m Series E for India’s Turtlemint
Amansa Capital, Jungle Ventures and Nexus Venture Partners led a USD120m Series E for India-based insurtech Turtlemint, with participation from Vitruvian Partners and Marshall Wace, among others. Read More
Actis To Sell India’s Sprng Energy to Shell for USD1.55b
Actis agreed to sell India-based renewable energy company Sprng Energy to Shell for USD1.55b. Read More
KKR Launches Vietnam- and Taiwan-Focused Renewable Energy Platform
KKR launched Aster Renewable Energy, a Singapore-headquartered renewables platform to develop, build and operate solar, wind and energy storage projects in Taiwan and Vietnam. Read More
CBC Leads Series B for Singapore’s RVAC
CBC Group led an undisclosed Series B for RVAC Medicines, a Singapore-based messenger RNA (mRNA) company, with participation from Temasek’s Pavilion Capital, EDBI and GS Holdings. The new round brings… Read More
MSPEA Acquires Majority Stake in Singapore-listed APAC Realty From Northstar for ~USD94.2m
Morgan Stanley Private Equity Asia (MSPEA) agreed to acquire a majority stake in APAC Realty, a Singapore-listed real estate services company in Asia, from Northstar Group for SGD129.5m (~USD94.2m). Read… Read More