Mitsubishi Corp, partners kick off first ASEAN PE fund

Japan’s largest trading company Mitsubishi Corporation, together with CIMB Group and Development Bank of Japan Inc (DBJ), has announced the launch of a private equity fund, called ASEAN Industrial Growth Fund (AIGF), today.

Headquartered in Singapore, AIGF will be a private equity platform providing growth capital to the middle market in Southeast Asia particularly in Indonesia, Malaysia, Singapore and Vietnam.

It intends to realise the intrinsic value of portfolio companies and maximise returns by leveraging Mitsubishi Corp’s vast business ecosystems and management know-how, CIMB’s broad customer base and financial expertise as well as DBJ’s private equity experience in the ASEAN region.

Also read: Mitsubishi seals deal to operate Mandalay airport

According to ACN Newswire, AIGF had its first closing at $130 million with Shinsei Bank Limited as a strategic investor. Other leading Japanese industrial companies and institutional investors including Hitachi Ltd, Yamato Kogyo Co and The Toho Bank Ltd also joined the first round.

The fund is aiming to reach approximately $200 million over the next 12 months.

Mitsubishi Corp is currently expanding its activities far beyond its traditional trading operation as it diversifies its business from natural resources development to investment in retail, industrial manufacturing, infrastructure and financial products.

AIGF will act as the core platform in Southeast Asia for its private equity business, which will cover from small caps to large corporations.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.