Asia Digest: PAG buys Unispace; VinFast inks JV with ProLogium; InVent invests in two startups

REUTERS/Dado Ruvic

Asia-focused private investment firm PAG has acquired global workplace design firm Unispace. Meanwhile, Vietnamese conglomerate Vingroup’s automobile unit VinFast and Taiwan’s battery manufacturer ProLogium set up a JV, while Thailand’s InVent announced two new investments.

PAG acquires Unispace

Asia-focused private investment firm PAG has acquired global workplace design firm Unispace, according to an announcement.

Since its inception in 2010, Unispace has been designing workplaces across 27 countries. Its clients include Boston Scientific and PwC, as well as Fonterra, Anaplan and Carlson Wagonlit Travel in Asia.

PAG is one of Asia’s largest private investment firms with operations in China, India, Hong Kong, and Singapore.

The firm manages $40 billion in assets, and has invested over $65 billion so far.

VinFast and ProLogium set up JV

Vingroup’s automobile unit VinFast has signed an MoU with Taiwan-headquartered ProLogium to use the latter’s patents to manufacture solid-state batteries in Vietnam.

According to the MOU, the two parties will set up a joint venture to produce automotive solid-state battery (SSB) pack for VinFast’s EVs.

In 2017, ProLogium became the first company in the world to have a test line for solid-state battery technology on cars.

InVent invests in two startups

InVent, the corporate venture capital arm of Thailand’s Intouch Holdings PLC has made two investments – in Datafarm (which marks the Series A round for the company) and in Swift Dynamics (in its pre-Series A round).

Datafarm is a Thai cyber-security startup that provides penetration tests and IT audits to government agencies and commercial enterprises, while Swift Dynamics develops construction and facility management software that uses IoT technology to connect multiple devices to the cloud.

“The two companies are leading startups in Thailand’s Cybersecurity and IoT sectors while their technologies will support corporates to strongly step into the fully-digitized 5G era, said Dr. Narongpon Boonsongpaisan, head of InVent, backed by Intouch Holdings PLC.

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.