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.


Felicia Chia, Asia Director

Alex Fichter, Manager, Research

Jia Xin Ong, Manager, Marketing & Membership

Yao Hwee Heng, Senior 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

28 February 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

General Atlantic, Sequoia China and Mubadala Lead USD2b Round for China’s Shein

Shein, a China-based global fashion retailer, raised a USD2b round at a reported valuation of USD66b led by General Atlantic, Sequoia China and Mubadala, with participation from Tiger Global Management… Read More

Headline Asia Leads USD6.6m Pre-Series B for Singapore’s Jenfi

Headline Asia led a USD6.6m pre-Series B for Jenfi, a Singapore-based revenue-based financing platform for businesses, with participation from ICU Ventures, Granite Oak, Korea Investment Partners & Golden Equator Capital… Read More

Temasek Invests ~USD225m in India’s PolicyBazaar

Temasek invested INR18b (~USD225m) in India-based insurance aggregator PolicyBazaar. Read More

Warburg Pincus and Northstar Group Lead USD80m Round for Singapore’s Advance Intelligence Group

Warburg Pincus and Northstar Group led a USD80m round for Advance Intelligence Group, a Singapore-based financial technology firm. Read More

Quadria Capital Acquires Majority Stake in Malaysia’s Straits Orthopaedics

Quadria Capital acquired a majority stake in Straits Orthopaedics, a Malaysia-based medical device manufacturer focused on orthopaedics.  Read More

Monk’s Hill Ventures Reaches USD200m Final Close for Fund III

Monk’s Hill Ventures reached a USD200m final close for its third early-stage fund focused on tech investments in Southeast Asia. The vehicle had a target of USD150m.  Read More

General Atlantic Invests Additional USD100m in India’s PhonePe

General Atlantic invested an additional USD100m in PhonePe, an India-based mobile payments app. General Atlantic first invested USD350m in January 2023. Read More

Temasek and Steadview Capital To Lead USD90m Investment in India’s Atomberg

Temasek and Steadview Capital agreed to lead a USD90m investment in Atomberg, an India-based energy efficient fan manufacturer.  Read More

Spotlight on Better Tech: Tricog Health

Company: Tricog Health Co-Founders: Dr. Charit Bhograj (CEO), Zainul Charbiwala (CTO) Headquarters: Singapore Markets of Operation: India, Southeast Asia and Africa Investors: Blume Ventures, Inventus Capital, University of Tokyo Edge… Read More

Mizuho Financial Group Leads USD270m Series D for Indonesia’s Kredivo Holdings

Mizuho Financial Group led a USD270m Series D for Kredivo Holdings, an Indonesia-based credit services platform, with follow-on from Openspace Ventures, Square Peg Capital, Jungle Ventures, Naver Financial Corporation and… Read More

Temasek To Acquire Controlling Stake in India’s Manipal Health for ~USD2b

Temasek agreed to acquire an additional 41% stake in Manipal Health, an India-based chain of multi-specialty hospitals for INR165b (~USD2b), to become the majority shareholder.  Read More

India’s Magenta Mobility Raises USD22m Equity Round

Magenta Mobility, an India-based EV charging station provider, raised a USD22m equity round from Morgan Stanley and BP Ventures.  Read More