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
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
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
Andreessen Horowitz Leads USD152m Series B for Vietnam’s Sky Mavis
Andreessen Horowitz led a USD152m Series B for Sky Mavis, a Vietnam-based crypto video game developer, with participation from Accel, Samsung Next Ventures, 500 Vietnam, Not Boring Capital, Paradigm, Libertus… Read More
KKR Makes USD171m Follow-On Investment in Philippines’ First Gen
KKR made a USD171m follow-on investment for an additional 7.3% stake in Philippines-listed power developer First Gen Corp, bringing its stake to 19.9%. KKR first invested in the company in… Read More
Andreessen Horowitz and Coinbase Lead USD260m Series C for India’s CoinSwitch Kuber
Andreessen Horowitz and Coinbase Ventures led a USD260m Series C for India-based crypto exchange CoinSwitch Kuber at a reported USD1.9b valuation, with participation from Sequoia Capital India, Tiger Global, Paradigm… Read More
Prosus, Tencent and B Capital Lead USD87m Series B for Indonesia’s Ula
Prosus Ventures, Tencent and B Capital led a USD87m Series B for Ula, an Indonesia-based B2B e-commerce marketplace, with participation from Bezos Expeditions, Northstar, AC Ventures and Citius, and follow-on… Read More
Oxshott Capital Partners Leads USD296m Investment in India’s Byju’s
Indian edtech Byju’s raised USD296m led by Oxshott Capital Partners at a reported USD18b valuation, with participation from XN Exponent, Edelweiss, Verition Master Fund, IIFL, MarketX Ventures and Time Capital… Read More
DST Global Leads USD153m Series B for Indonesia’s Ajaib
DST Global led a USD153m Series B for Indonesia-based investment app Ajaib at a reported USD1b valuation, with follow-on from Ribbit Capital, IVP, ICONIQ Capital, Insignia Ventures, Alpha JWC Ventures,… Read More
Alteria Capital Reaches ~USD242m Final Close for Second Venture Debt Fund
Alteria Capital reached a INR18b (~USD242m) final close for its second venture debt fund. Read More
DMI Alternatives Reaches USD40m Final Close for India Digital Finance Fund
DMI Alternatives reached a USD40m final close for The Sparkle Fund. The vehicle focuses on alternative lending, consumer finance, financial services IT, payments, regtech, wealthtech and AI platforms to drive… Read More
Northern Light Venture Capital Reaches ~USD309m Final Close for Fund IV
Northern Light Venture Capital reached a CNY2b (~USD309m) final close for its CNY-denominated fourth fund targeting investments in early-stage companies across the TMT, advanced technology and healthcare sectors in China… Read More
Global Ventures Leads USD4.5m Pre-Series A for Egypt’s Cartona
Global Ventures led a USD4.5m pre-Series A for Cartona, an Egypt-based e-commerce platform connecting retailers and manufacturers, with participation from Kepple Africa, T5 Capital and angel investors. Read More
CDC Invests in Fatima Gobi Ventures’ Pakistan Tech Fund
CDC Group made an undisclosed anchor investment in Techxila Fund I, a fund managed by Fatima Gobi Ventures targeting investments in early-stage tech companies across Pakistan. Read More
Falcon Edge Leads USD200m+ Round for India’s Ola Electric
Falcon Edge Capital led a USD200m+ round for Ola Electric, the EV unit of India-based rideshare Ola, with participation from SoftBank and others at a reported USD3b valuation. TechCrunch reports… Read More