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
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
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
Hillhouse Leads ~USD77m Series A for Chinese AI Chatbox Developer Xiaoice
Hillhouse Capital led a CNY500m (~USD77m) Series A for Xiaoice, a China-based AI chatbox developer spun off from Microsoft, with participation from GGV Capital, IDG Capital, 5Y Capital, NetEase and… Read More
Temasek and Falcon Edge Lead USD220m Investment in Indian Eyewear Retailer Lenskart
Temasek and Falcon Edge Capital led a USD220m investment in India-based eyewear retailer Lenskart at a reported USD2.5b valuation. The investment is part of a new round that saw KKR… Read More
Creador Partially Exits Malaysia’s CTOS Digital via ~USD287m IPO
Creador partially exited its interest in Malaysia-based credit reporting company CTOS Digital via the company’s MYR1.21b (~USD287m) IPO on Bursa Malaysia. Creador sold shares worth MYR792m (~USD188m) and now retains… Read More
Creador Reaches USD500m First Close for South & Southeast Asia Fund
Creador reached a USD500m first close for Creador V. The vehicle has an initial target size of USD600m and will invest in mid-cap businesses across the consumer, healthcare, financial services… Read More
Alibaba, SAIC Motor, CMG-SDIC and YF Invest ~USD464m in China’s Banma
Existing shareholders Alibaba, SAIC Motor, CMG-SDIC Capital Management and Yunfeng Capital invested CNY3b (~USD464m) in China-based internet car solution provider Banma Information Technology. Read More
BlackRock Acquires Korea Renewable Energy Development & Operation Holdings
BlackRock Real Assets acquired South Korea-based offshore wind developer Korea Renewable Energy Development & Operation Holdings (formerly IGIS Private Equity) for an undisclosed amount. Read More
CMG-SDIC Capital and Tigermed Lead USD100m Series D for Chinese Drug Developer Adlai Nortye
CMG-SDIC Capital Management and Hong Kong-based contract research organization Tigermed led a USD100m Series D for China-based drug developer Adlai Nortye, with participation from Legend Star, Guolian Fund, Triwise Capital,… Read More
BOCOM and Cyberport Macro Fund Invest USD100m in Hong Kong’s GogoX
Hong Kong-based last mile logistics platform Gogox (formerly GoGoVan) raised USD100m led by BOCOM, the international arm of China Bank of Communications, and Cyberport Macro Fund. Read More
SoftBank Vision Fund 2 Invests USD1.7b in South Korea’s Yanolja
SoftBank Vision Fund 2 invested USD1.7b in Yanolja, a South Korea-based travel and leisure platform. Read More