PE firm Asiasons Capital to raise $18m, looks to sell unit

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Singapore-based private equity firm Asiasons Capital Limited plans to raise up to S$25 million ($18.4 million) in three tranches by issuing notes that can be converted into shares.

The company, in a regulatory filing with the Singapore stock exchange, said it had entered into a term sheet with Advance Capital Partners Asset Management Private Limited to issue 1 per cent unsecured equity linked redeemable structured convertible notes due 2018.

The notes will be issued in three tranches – S$10 million each at the first two times and $5 million in third instance – to Advance Opportunities Fund, a fund managed by Advance Capital Partners Asset Management Private Limited.

Asiasons Capital’s focuses on the South East Asia region in the consumer and resources space, and its investments are conducted through Dragonrider Opportunity Fund I and II via Asiasons Private Equity, the fund management unit of the group. “This strategy has been formulated based on the demographics trends in South East Asia namely increased consumer spending and urban migration in one of the most populous and youngest populations in the world,’ the company said in its website.

In another regulatory filing, Asiasons Capital said that it was in talks for the sale of a subsidiary that holds ‘certain long term assets of the group as well as certain short and long term debts and liabilities of the group’.

“If successful, the proposed transaction will enable the group to procure immediate liquidity for its long term assets and at the same time reduce some of the short and long debt and liabilities,” the filing added, without divulging additional details.

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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.