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.

Research Team

Ethan Koh, Asia Research Director

Alex Fichter, Research Analyst, Research

Essa Saifie, Research Analyst, Research

Yao Hwee Heng, Private Markets Research Analyst

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

2022 Southeast Asia Data Insight

March 29, 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

March 29, 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

February 16, 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

September 16, 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

February 22, 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

May 26, 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 

November 8, 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

February 16, 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

March 31, 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

March 31, 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

China’s LePure Raises ~USD15m Series C Led by General Atlantic, Novo Holdings and Goldman Sachs Asset Management

LePure, a China-based bioprocess equipment developer, raised a ~CNY100m (~USD15m) Series C led by General Atlantic, Novo Holdings and Goldman Sachs Asset Management, with follow-on from Highlight Capital, Bayland Capital,… Read More

China’s Capcon Raises ~USD50m Series B2 from Chengchuang Capital, Cowin Capital and Others

Capcon, a China-based packaging equipment manufacturer, raised a ~USD50m Series B2 from Chengchuang Capital, Cowin Capital, GL Ventures and Shang Qi Capital. Read More

General Atlantic Acquires 5.64% Stake in Indonesia’s Cimory for USD130m

General Atlantic acquired a 5.64% stake in Cimory, an Indonesia-listed producer of dairy and other food products, for USD130m. Read More

Carlyle Acquires Majority Stake in India’s VLCC for ~USD300m

Carlyle acquired a majority stake in VLCC, an India-based beauty and wellness marketplace, for a reported ~USD300m. Read more here and h Read More

L Catterton Leads ~USD44m Series A2 for Hong Kong’s TENWAYS

L Catterton led a CNY300m (~USD44m) Series A2 for TENWAYS, a Hong Kong-based e-bike manufacturer. Read More

Veradigm Leads USD45m Series B for Singapore’s Holmusk

Veradigm (formerly Allscripts Healthcare Solutions) led a USD45m Series B for Holmusk, a Singapore-based behavioral health records management platform, with follow-on from Heritas Capital, Health Catalyst Capital, Novartis-backed dRx Capital,… Read More

General Atlantic to Sell 13.6% Stake in China’s Xiabuxiabu for ~USD174m

General Atlantic agreed to sell its remaining 13.6% stake in Hong Kong-listed restaurant chain Xiabuxiabu for HKD1.4b (~USD174m). Read More

Cloudview Capital Leads ~USD791m Series B for China’s Astronergy

Cloudview Capital led a CNY1.5b (~USD791m) Series B for Astronergy, a China-based solar panel manufacturer spun out of Chint Group, with participation from Hillhouse Capital Group, China Capital Investment Group,… Read More

INCE Capital Leads ~USD15m Series B for China’s Hypersics Semiconductor

INCE Capital led a CNY100m (~USD15m) Series B for Hypersics Semiconductor, a China-based silicon carbide substrates developer, with participation from Chuangzhi New Energy, Dayou Capital and Jiayin Fund Management. Read… Read More

Northstar Group Reaches ~USD90m First Close for Venture Fund

Southeast Asia-focused Northstar Group reached a ~USD90m first close for its first early-stage venture fund, which was launched last year with a USD150m final target. Read More

India’s SarvaGram Raises USD35m Series C from Elevar Equity, Temasek and Others

SarvaGram, an India-based lending platform for rural households, raised a USD35m Series C from Elevar Equity, Temasek, Elevation Capital and TVS Capital. Read More

Brookfield Asset Management Invests in USD110m Series D for India’s SirionLabs

Brookfield Asset Management invested in SirionLabs, an India-based contract lifecycle management platform, bringing the company’s Series D to USD110m. The previously announced round was led by Partners Group with follow-on… Read More