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
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
A91 Partners Reaches USD550m Final Close for Fund II
A91 Partners reached a USD550m final close for its second fund. The vehicle will invest in 15 to 17 established Indian companies or those with a presence in the country… Read More
500 Global, Artesian VC, Others Invest USD2.4m Pre-Series A for Taiwan’s Rosetta.ai
Rosetta.ai, a Taiwan-based AI technology company focused on fashion e-commerce, raised a USD2.4m pre-Series A led by Dr. Pehong Chen (BroadVision), with participation from 500 Global, Artesian VC, Angel To… Read More
Chiratae Ventures and CDC Lead ~USD38m Series C for India’s Vayana Network
Chiratae Ventures and CDC Group led a ~INR2.83b (~USD38m) Series C for India-based digital trade financing network Vayana Network, with participation from Jungle Ventures, March Capital, Marshall Wace and domestic… Read More
IDG Capital, CDH Venture and Growth Capital and CICC Capital Lead USD84m Series B for China’s Changmugu
IDG Capital, CDH Venture and Growth Capital and CICC Capital led a USD84m Series B for Changmugu, a China-based healthtech focused on orthopaedics, with follow-on from YuanBio Venture Capital. Read… Read More
ADIA Leads USD1.3b Pre-IPO Round for Indonesia’s GoTo
ADIA led a USD1.3b pre-IPO round for Indonesia-based super app GoTo, with participation from Primavera Capital, Permodalan Nasional Bhd and Fidelity, and follow-on from Google, Tencent and Temasek. Read More
TPG-Backed Nykaa Raises USD721m IPO
Nykaa, an Indian fashion e-commerce platform backed by TPG and others, raised ~USD721m in its IPO on the BSE and NSE. Read More
Prosus and Warburg Pincus Lead USD150m Series D for India’s The Good Glamm Group
Prosus and Warburg Pincus led a USD150m Series D for The Good Glamm Group, an India-based fashion e-commerce platform, at a USD1.2b reported valuation, with participation from L’Occitane, Bessemer Venture… Read More
Alpha JWC Reaches USD433m Final Close for Southeast Asia Early-Stage Fund
Alpha JWC Ventures reached a USD433m final close for its third early-stage fund focused on Southeast Asia. Investors include IFC and Morgan Stanley Alternative Investment Partners. Read More
Premji Invest Leads USD51m Round for India’s BrightChamps
Premji Invest led a USD51m round for India-based edtech BrightChamps, with participation from GSV Capital, Beenext and 021 Capital, at a reported USD500m valuation. Read More
Temasek, Tencent, Alibabab, Genesis Capital and Tiantu Capital Invest USD500m in China’s Xiaohongshu
Temasek, Tencent, Alibaba, Genesis Capital and Tiantu Capital invested a USD500m round for China-based social e-commerce Xiaohongshu at a reported USD20b valuation. Read More
CDPQ & Cathay PE Co-Invest in Taiwan’s Greater Changhua 1 Offshore Wind Farm
Cathay Private Equity and CDPQ acquired 50% of the 605MW Greater Changhua 1 Offshore Wind Farm in Taiwan for USD2.7b. Read More
Teachers’ Retirement System of the State of Illinois Commits USD35m to Sky9 Capital Funds
Teachers’ Retirement System of the State of Illinois committed USD25m to Sky9 Capital Fund V and USD10m to Sky9 Capital MVP Fund II. Both funds are managed by early-stage Chinese… Read More