Hong Kong, China
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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.

Team

Ethan Koh, Asia Research Director

Alex Fichter, Manager, Research

Jia Xin Ong, Manager, Marketing and Membership

Yao Hwee Heng, Analyst, Research

Darsh Parekh, Analyst, Research

Steve Okun, Senior Advisor

GPCA’s Asia headquarters in Singapore represents leading fund and institutional investors based in Southeast Asia and builds bridges among investors across global markets. Learn More.

Asia Research

2023 Emerging Tech Trends in Asia

28 February 2023
As digitization spreads across industries and with the continued growth of venture capital, tech investment has grown to represent the majority of private capital activity in Asia, even amidst the… Read More

Private Credit in Asia: Opportunities and Themes for 2023

7 March 2023
Both long-term structural trends and recent shifts in market dynamics are driving the growth of private credit activity in Asia, which reached record levels in 2022. This report explores recent… Read More

2023 Trends in Global Tech

21 February 2023
Overview GPCA’s annual Trends in Global Tech report traces venture capital flows across Africa, India, China, Southeast Asia, Latin America, Central & Eastern Europe and the Middle East. Amidst a… Read More

2023 Industry Data & Analysis

21 February 2023
Private capital investment activity across GPCA’s markets remained strong by historical standards in 2022, with fund managers deploying USD208b.  Overall deal value declined 22% from 2021, yet 2022 was still… Read More

2022 Southeast Asia Data Insight

29 March 2022
Despite 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

29 March 2022
Private 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

16 February 2022
GPCA 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

16 September 2021
GPC 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

22 February 2022
GPCA 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

26 May 2021
Rebounding 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 

8 November 2021
COVID-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

16 February 2022
GPCA’s annual Trends in Global Tech report traces venture capital flows across Africa, India, China, Southeast Asia, Latin America, Central and Eastern Europe and the Middle East. With VC representing… Read More

India 2021 Data Insight

31 March 2021
GPs 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

31 March 2021
After 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

Openspace Ventures Leads USD10m pre-Series A in Indonesia’s Broom

Openspace Ventures led a USD10m pre-Series A for Broom, an Indonesia-based auto financing platform, with participation from Quona Capital, MUFG Innovation Partners, BRI Ventures and AC Ventures. Read More

Malaysia’s Viewpoint Software Raises USD40m

Viewpoint Software, a Malaysia-based business entity engagement software provider, raised USD40m from BPEA EQT and CPP Investments.  Read More

INCE Capital and Qiming Venture Partners Lead USD50m Series B for China’s Allorion Therapeutics

INCE Capital and Qiming Venture Partners led a USD50m Series B for Allorion Therapeutics, a China-based drug developer that focuses on treating oncology and autoimmune diseases, with participation from TF… Read More

PremjiInvest Leads USD110m Series D for India’s Minfinit

Premji Invest led a USD110m Series D for Mintifi, an India-based supply chain financing platform, with follow-on from International Finance Corporation (IFC), Norwest Venture Partners, Elevation Capital and others. Read More

Accion Venture Lab and Sturgeon Capital Lead USD6.4m Seed Round in Pakistan’s Trukkr

Accion Venture Lab and Sturgeon Capital led a USD6.4m seed round for Trukkr, a Pakistan-based trucking logistics platform, with participation from Peter Findley (Anchorless Bangladesh), Haitou Global and Al Zayani… Read More

CPP Investments Acquires Controlling Stake in India’s ReNew Energy Global for USD268m

CPP Investments acquired an additional 14% stake in India-based independent power producer ReNew Energy Global from Goldman Sachs for USD268m, to become the majority shareholder.  Read More

Kotak Mahindra Advisors Invests INR10.7b (~USD129.4) in India’s Biocon

Kotak Mahindra Advisors, the alternative assets arm of Kotak Mahindra Group, invested INR10.7bn (~USD129.4m) in Biocon, an India-based pharmaceuticals manufacturer. Read More

Kotak Reaches USD590m First Close for Data Center Fund

Kotak reached a USD590m first close for its data center fund, focused on expanding data center capacity in India. The vehicle has a target corpus of USD800m. Read More

L Catterton Invests in China’s Partner Pet

L Catterton invested in Partner Pet, a China-based premium freeze-dried pet food company. This is L Catterton’s second pet food investment in China after investing in Shanghai Enova Pet Products,… Read More

Connecting Fund Managers with Impact Investors’ Tax Principles

The purpose of this article is to initiate communication between multilateral and bilateral development finance institutions (‘’DFIs”) and private equity fund managers (“FMs”) that seek to attract DFI funding for… Read More

Baring Private Equity Asia Sells 9.8% Stake in India’s Coforge for ~USD294.6m

Baring Private Equity Asia sold a 9.8% stake in Coforge, an India-listed software company, through a block deal on the NSE for INR24.3b (~USD294.6m). Read More

CVC Capital Partners Acquires China’s Yikang Medicine

CVC Capital Partners completes buyout of Yikang Medicine, a China-based pharmaceutical retail chain. CVC first invested an undisclosed amount in Yikang Medicine in 2021. Read More