Let’s kick off this weekly roundup with our latest exclusive.
Vietnamese e-commerce major Tiki is looking to raise over $100 million in an upsized financing round, Ngoc reported on Friday. We had previously reported the country’s second most popular marketplace’s plans to raise a $75-million round led by PE firm Northstar Group.
A Slice of Grab
One of our most popular stories this week was this exclusive from Kristie on Grab exploring the option of raising capital separately for its e-scooter rental unit GrabWheels. The company has previously held similar discussions for its financial services (with Ant Financial – another exclusive from us) and payments units separate from its ongoing fundraising at the holding company level.
The Luckin Coffee Effect
After raising $8 million in seed funding from Alpha JWC in October last year, Indonesia’s grab-and-go coffee chain Kopi Kenangan is now in talks to raise money from Sequoia Capital, Aastha and Ardi reported this week.
Tokopedia, Bridestory say “I do”
This week, Indonesian e-commerce unicorn Tokopedia confirmed the acquisitionof wedding marketplace Bridestory. We first reported the talks between the two companies in May. As part of the deal, Tokopedia has also acquired children’s activities marketplace Parentstory.
Hong Kong-based real estate private equity firm Gaw Capital Partners has so far gathered $3 billion for its sixth Asia opportunity real estate fund ahead of its final close.
The Billion Dollar Fund for Women (TBDF), a global consortium of venture funds tackling the gender funding gap, announced that it has reached its goal of mobilizing $1 billion in pledges.
Gobi Partners announced a new $10-million microfund for Malaysia in partnership with MAVCAP and Sunway Group. The VC firm had launched similarly sized vehicles for Indonesia and the Philippines last year.
Deviana reported that Indonesia-based advertising services company Alternative Media Group (AMG), wholly owned by a local family affiliated with conglomerate Sinar Mas, is seeking private equity investments while also laying the groundwork for an IPO on IDX.
Three Indonesian companies are set to hit the public markets in July – property developer DMS Propertindo, packaging manufacturer Satyamitra Kemas Lestari and fintech firm Hensel Davest, reported Sarah.
In Interviews This Week
Golden Gate Ventures partner Michael Lints spoke to us about opportunities in Southeast Asia at the Series B stage, which the VC expects to tap with a new growth fund it launched in partnership with Hanwha Asset Management earlier this year.
Vietnamese e-commerce firm Sendo, which competes with Tiki, Shopee and Lazada in the domestic market, is looking beyond the country’s top-tier cities as it pursues growth, CEO Tran Hai Linh told us in an interview.
Exit This Way
Australian cloud communication startup Whispir listed its shares on the Australian Stock Exchange this week, paving an exit path for investors Openspace Ventures and MDI Ventures.
Your Weekend Read
I recommend this story from the Nikkei Asian Review, which we published on our website (you can expect more of this content cross-pollination going forward), on the battle for video streaming market share in Southeast Asia being fought by Tencent, Netflix and some formidable regional competitors.