Singapore-headquartered investment firm Kollective Ventures (KV) and Turn Capital, the family office of Joseph Phua, have jointly agreed to acquire Taiwan’s leading podcast platform SoundOn, Inc, per an announcement.
The deal size could not be ascertained.
Launched by Likai Gu in 2019, SoundOn has an interactive platform for podcasters that generates original content shows. The platform claims to be the largest podcast major in Taiwan and claims to have witnessed over 35 million podcast downloads each month last year, which is expected to surpass 500 million by the end of 2021.
“This acquisition allows us to further invest and develop the podcast ecosystem,” said Phua.
SoundOn will continue to operate under its current brand and its services remain unaffected, it said.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on January 26-27, 2021.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Verticals|
|Klook||Hong Kong||200 million||E||Aspex Management||Sequoia Capiptal China, SoftBank's Vision Fund 1, MatrixPartners China, Boyu Capital||E-commerce|
|MEMSIC Semiconductor||Tianjin||154 million||A||Fortuna Capital||YF Capital, Asia Environmental Partners (AEP), Yangtze River Delta Collaborative Advantage Industry Fund||N/A|
|Agile Robots||Beijing/Munich||130 million||-||-||Sequoia Capital China, GL Ventures, Linear Capital, C Ventures, Tinavi||Robotics & Drones|
|Adicon Holdings||Hangzhou||88 million||-||Khazanah Nasional Berhad||Lake Bleu Capital, Cenova Capital, OrbiMed, Mirae Asset||HealthTech|
|Whales English Elite Education||Beijing||34 million||B+||XDF.CN||Sino-Ocean Capital||EdTech|
|Boan Biotech||Yantai||30 million||-||-||CCB International, Starr Companies||N/A|
|Genfleet||Shanghai||* 15 million||B+||Northern Light Venture Capital||HM Capital, Linden Asset Group, Shanjin Capital, CDH Investments, Panlin Capital||N/A|
|Shenzhen Iorange Automation||Shenzhen||15 million||B+||V Fund||-||N/A|
|Shanghai Zhuizhi Technology||Shanghai||8 million||A||Lenovo Capital||GGV Capital, MatrixPartners China||Saas|
|Beijing Yuanshan Intelligence||Beijing||8 million||A+||Oriental Fortune Capital||Liumai Capital, Zhongshan Hongye Capital||AI and Machine Learning|
|LinKMORE||Hangzhou||* 1.5 million||Pre-A||Alchemy Capital||Hangzhou Fuzhuo Investment||Saas|
|XTransfer||Shanghai||-||C2||Lavender Hill Capital Partners (LHCP)||-||Fintech|
∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopted the smallest number in the range, which is “10 million yuan ($1.5 million)” in the given example.