500 Startups, the global venture capital and seed stage investor, has emerged as the most prolific investor in the Asian markets during the fourth quarter of 2015. The fund, which now has over 1500 firms under its portfolio, sprinkled money in companies such as iPrice, Ayannah, Ematic Solutions, Claim Di and Qraved during the previous quarter.
The list of active funds also features Matrix Partners China, Accel Partners and Sequoia Capital China and India and Golden Gate Ventures in the top five slots.
An interesting addition in the top 10 list is newly-launched Venturra Capital, focussed on investing in Indonesian startups. Apart from that, two active VCs from India, Kalaari Capital and IDG Ventures India, too make it to this list.
Top $100m plus India VC deals in Q4
Deal-making saw a contraction in Q4 2015 both in value and volume terms compared to the previous sequential quarter with companies raising a little over $1500 million across 114 transactions. In Q3, 2015, deal-making in India hit a peak with 139 deals seeing venture capital raising of $2796 million, according to a report by KPMG-CB Insights.
In Q4 last year, the three top $100-million plus transactions include ride-hailing app Ola’s big-ticket fundraise, General Atlantic’s investment in IIFL Wealth Management and a secondary deal in IBS Software.
Ola raised $225 million in fresh funds, as part of an overall $500-million round, from Baillie Gifford, China’s largest taxi hailing service company Didi Kuaidi and existing investors Falcon Edge Capital, Tiger Global,SoftBank Group and DST Global. Ola received the remaining portion of the funds in the previous quarter. The cab aggregator, which counts Matrix Partners, Steadview Capital, Sequoia India and Accel Partners US as other investors, has so far raised $1.3 billion in venture funding.
In the second top deal, General Atlantic Singapore Fund invested $173 million in IIFL Wealth Management Ltd, the wealth management subsidiary of IIFL Holdings Ltd for a 21 per cent stake.
Occupying the third slot is Blackstone acquiring General Atlantic’s stake in technology firm IBS Software for $170 million.
According to the report, Mumbai pipped Bangalore in terms of deal activity accounting for 24 transactions compared to the latter’s 20.
Top VC deals in South East Asia in Q4
Venture investments in south east Asia hit a high in terms of deal volume with 71 transactions but the money received by startups nearly halved in the fourth quarter 2015 at $278 million compared to $551 million in the previous sequential quarter (Q3) across 55 transactions.
Among the top transactions in Q4 included the $130-million Series B round by Taiwanese electric vehicle maker Gogoro. Panasonic and National Development Fund of Taiwan participated in the round.
Singapore-headquartered Aslan Pharmaceuticals, a biotech company focused on the development of immunotherapies and targeted agents for Asia prevalent tumour types, secured $34 million in a Series C financing led by a unit of state fund Temasek Holdings.
The third top deal in Q4 was Taiwan-based tech startup Appier which raised $23 million in its Series B funding from five global investors led by the world’s largest venture capital firm Sequoia Capital. Other investors in the round include JAFCO Asia, TransLink Capital, MediaTek Ventures and an investment arm of Singaporean bank UOB.
Singapore was the top destination in terms of deal activity accounting for 22 investments followed by Malaysia at 19 and Indonesia at 13.