Exclusive: Northstar Group nears final close of $1b fourth fund

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Indonesia focused private equity firm Northstar Group is nearing the final close of its fourth fund that has a hard cap of $1 billion, an executive with direct knowledge of the development said. Northstar had achieved the first close for this fund in July 2014, when it raised $500 million… Read more »

TPG, Northstar sell 17.5% in Indonesia’s BTPN for $462m

TPG Capital and Northstar Pacific have sold a 17.5 per cent in Bank Tabungan Pensiunan Nasional (BTPN) to Summit Global Capital Management for Rp 5.9 trillion ($462 million), the bank said in a statement to the Indonesia Stock Exchange. The private equity firms were working under the TPG Nusantara consortium which… Read more »


Singapore VC Monk’s Hill invests in Indonesian website CekAja

Singapore-based Monk’s Hill Ventures has invested in CekAja, a financial products and services comparison website based in Indonesia. An industry source told DEALSTREETASIA of the development, although the investment value was not made clear. Monk’s Hill did not comment on this when contacted via email. CekAja was set up in 2013,… Read more »


Warburg inks first Indonesia deal, forms $125m shopping mall JV

Private equity giant Warburg Pincus will invest $125 million to build and develop hypermarket anchored retail malls in Indonesia in a joint venture with local operator Nirvana Development, both companies said. This marks Warburg’s first investment in Indonesia, and will be made from the firm’s $11.2 billion Warburg Pincus Private… Read more »


Insurance startup RajaPremi gets funding, revamps site

Funded anew by FatFish Internet Group (FFG), Indonesia’s first online insurance supermarket RajaPremi has launched a major revamp of its website. This is expected to enable further company growth. The amount of the investment in the tech startup was not disclosed. RajaPremi said the new website offers easier navigation, wider… Read more »


Singapore’s MegaFash plans regional exansion via acquisitions

Singapore-based MegaFash, a marketplace for independent local brands launched in 2013, is looking to raise a Series A round. The capital raised will fuel regional expansion and talent acquisitions efforts, as business traction builds for the Singaporean venture. The company has also articulated plans to acquire smaller regional players, though has not publicly elaborated on which entities… Read more »


Al Masah seeks more PE opportunities in SEA

Dubai-based alternative asset management firm Al Masah Capital Ltd is looking at South East Asia’s largest economy – Indonesia – as it seeks further private equity opportunities in the region. The firm already has presence in Singapore and Malaysia, where it has made investments in the healthcare and education sectors. “We… Read more »


Majuven leads $1.5m Series A round in Vela

Indonesian fashion e-commerce retailer and brand partner startup Vela Asia announced the closure of series A funding today, worth $1.5 million, led by Singapore-based Majuven, an early stage and growth stage VC fund. The funds will go towards growing its partners’ websites and expanding technology offerings. Vela Asia supports brands and manufacturers in selling their… Read more »


Indo muslim fashion startup HijUp gets seed funding

HijUp, an Indonesian Muslim fashion e-commerce site, has received a seed funding of an undisclosed amount  from a pool of global investors. The seed round that included 500 Startups, Fenox Venture Capital and Skystar Capital allows the firm to extend its lead in the Indonesian market, prior to further international expansion. The… Read more »


Emtek makes series B investment in online marketplace BukaLapak

Emtek Group, the second largest media firm in Indonesia, has announced a series B investment in local online marketplace BukaLapak, though financial details were undisclosed. This follows its series A round, which BukaLapak raised in February 2014. Series A investors were price comparison site Aucfan, IREP, 500 Startups and GREE Ventures. BukaLapak founder Achmad Zaky says these new round… Read more »