We kickstarted the New Year with scoops on the problems ailing Indonesia’s P2P lender Investree and the departure of its co-founder and CEO. January also saw us report on challenges facing two other Indonesian startups – Octopus and Zenius.
As part of our year-end special coverage, we carried reflections and predictions from seasoned investors and LPs on bright spots to expect in 2024 and beyond.
DealStreetAsia also held 2024’s first major industry conference – the Indonesia PE-VC Summit – which provided deep insights into the region’s funding landscape, and investable themes to watch out for.
From the summit, we brought you this exclusive report on GoTo chief Patrick Walujo’s explanation of the rationale behind the big-ticket TikTok-Tokopedia deal.
In case you missed these stories, check out our curated list of trending scoops and analytical takes from January 2024.
Top stories of January 2024
Adrian A Gunadi, co-founder and CEO of the Indonesian P2P lender Investree, offered his resignation to the board, amid allegations of misconduct and other challenges faced by the company. Gunadi’s departure was subsequently announced by the company, confirming our story. Investree, which announced raising a fresh investment of over $200 million a few months back, is also grappling with civil lawsuits amid growing bad loans.
The Openspace-backed waste management startup’s shift to the B2B segment is said to have affected its cash flow and caused delays in salary payments.
Zenius has taken drastic cost-cutting measures over the past couple of years amid unfavourable economic conditions.
The Blackstone PE Asia executive believes that taking a “micro” investing approach is crucial for success in these markets.
The LP View: Investors in Asia turn to buyouts amid stock market slump, says Hamilton Lane’s Collwyn Tan
The rise of investor interest in buyout transactions comes alongside a challenging exit environment in which the market downcycle has taken a heavy toll on the IPO activity.
2023 has been a challenging year for PE and VC investors, with little indication of a bounceback in the new year. Even then, a few bright spots have emerged where investors have been parking their capital.
Private equity giant KKR is looking to become an alternative to banks in plugging the financing gap that exists in Southeast Asia, with its pan-Asian private credit strategies that have deployed nearly $4 billion in over 35 deals to date.
A month after Bytedance-owned TikTok acquired a 75% stake in Tokopedia, the e-commerce arm of IDX-listed GoTo, the Indonesian tech giant’s chief Patrick Walujo has opened up about the rationale behind the deal.
Hong Kong, which welcomed several brands such as hotpot chain Haidilao and tea-drinks brand Heytea some years back, is again seeing newer entrants at a time when onshore listing in mainland China has become increasingly challenging.
BPEA Credit plans to launch its inaugural India-SE Asia fund with a targeted size of $750 million by the end of the year. While this will be the firm’s fourth fund to date, it will be the first to include SE Asia.
Can you successfully run an Oyo-like startup for the healthcare sector? That is precisely what India’s Pristyn Care attempted to do. However, its plans may have run into rough weather.
Multiples Fund IV achieved the first close at $640 million and it was said to be targeting to raise a total of $1 billion.
Acquiring local VC firms to expand in a region is a strategy that General Catalyst has adopted earlier as well.
SE Asian tech startups have been nurturing the ambition of an IPO in the US markets. Still, the road to listing may not be easy given that the backdoor listing option has dried up and the direct listing route in a foreign market is fraught with challenges.