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
Catherine O’Connor, Research Analyst
Essa Saifie, Research Analyst
Asia Research
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
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
EchoVC, MSA Capital, Others Invest USD2.2m Pre-Seed Round for Global Cross-Border Payments Company Wapi Pay
EchoVC, MSA Capital, Nubank and Klarna invested a USD2.2m pre-seed round for Wapi Pay, a Singapore-based, Kenya-headquartered payments and remittances company focused on cross-border payments between Africa and Asia. Read… Read More
Riverwood Leads USD200m+ Series D for Singaporean B2B Payments Company Nium
Riverwood Capital led a USD200m+ Series D for Singapore-based B2B payments platform Nium at a reported USD1b+ valuation. Temasek, Visa, Vertex Ventures, Atinum Capital, Beacon Venture Capital, Rocket Capital Investment… Read More
Monk’s Hill Ventures Leads USD3.1m Pre-Series A for Singapore’s INKR
Monk’s Hill Ventures led a USD3.1m pre-Series A for Singapore-based, AI-driven digital comics platform INKR, with participation from VI Management and Stu Levy (TokyoPop). Read More
CCB International Leads USD116m Series C for Chinese DNA Sequencing Company Geneplus Technology
CCB International, the venture unit of China Construction Bank, led a CNY750m (USD116m) Series C for China-based DNA sequencing company Geneplus Technology, with participation from Fortune Capital, GGV Capital, Suzhou… Read More
Sequoia China Leads USD150m Series E for Chinese AI Operations Provider CloudWise
Sequoia Capital China led a USD150m Series E for China-based artificial intelligence operations (AIOps) provider CloudWise, with participation from FutureX Capital, SIG China, CPE, ASG and CRC Capital. Read More
Thoma Bravo, Bond, Altimeter, Others Invest USD900m Series B for Hong Kong’s Crypto Exchange FTX
Hong Kong-based cryptocurrency exchange FTX raised a USD900m Series B at a reported USD18b valuation from a large group of investors including Thoma Bravo, Bond, Altimeter, Paradigm, Sequoia Capital, Ribbit… Read More
Tribe Capital, IFC Emerging Asia and VEF Lead USD67m Series E for India’s BlackBuck
Tribe Capital, IFC Emerging Asia Fund and VEF led a USD67m Series E for India-based trucking platform Blackbuck, with follow-on from Wellington Management, Sands Capital and IFC, at a reported… Read More
INCE Capital Reaches USD450m First Close for Second China VC Fund
INCE Capital reached a USD450m first close for INCE Capital Fund II. The vehicle targets early-stage investments in Chinese consumer technology and internet companies. Read More
Prosus and East Ventures Growth Lead USD35m Series A for Indonesia’s Aruna
Prosus Ventures and East Ventures Growth Fund led a USD35m Series A for Aruna, an Indonesia-based integrated fishery platform, with participation from SIG and follow-on from AC Ventures, MDI and… Read More
Asia Partners and Falcon Edge Lead USD100m+ Series B for Indonesian B2B Marketplace GudangAda
Asia Partners and Falcon Edge Capital led a USD100m+ Series B for Indonesia-based B2B marketplace GudangAda, with participation from Sequoia Capital India, Alpha JWC and Wavemaker Partners. Read More
China’s PatPat Raises USD510m Series C & D From General Atlantic, DST Global, INCE, Others
China-founded D2C children’s wear brand PatPat raised USD510m in Series C and D funding. General Atlantic, Capital Today China Group and the wealth management unit of CDH Investments led the… Read More
LeapFrog Leads USD75m Series C for Indian Digital Health Platform HealthifyMe
LeapFrog Investments led a USD75m Series C for India-based digital health platform HealthifyMe, with participation from Khosla Ventures and follow-on from existing investors. LeapFrog invested USD30m in the round. Read… Read More