<article>Let’s kick off this weekly wrap-up with the latest from the private equity world. First, fundraising news.</article>

Let’s kick off this weekly wrap-up with the latest from the private equity world. First, fundraising news.
Singapore-based private equity firm Northstar Group plans to hit the market later this year for <a href="https://www.dealstreetasia.com/stories/northstar-fund-148815/" target="_blank" rel="noopener noreferrer">its fifth fund</a>. The fund, which is likely to raise between $800 million and $900 million, will have a primary focus on investments in Indonesia, with a secondary focus on other Southeast Asian markets such as Vietnam, Singapore, Philippines and Thailand.
CITIC Capital, the flagship alternative investment arm of Chinese financial conglomerate CITIC Group, has <a href="https://www.dealstreetasia.com/stories/citic-capital-china-buyout-fund-148724/" target="_blank" rel="noopener noreferrer">raised $2.8 billion</a> for its fourth China buyout fund, its biggest PE vehicle to date. The fund will seek control-investment opportunities with a China angle across sectors, including consumer, healthcare and technology.
PE firms eye exits 
Southeast Asia-focused Navis Capital Partners is looking to <a href="https://www.dealstreetasia.com/stories/navis-hanoi-french-hospital-147978/" target="_blank" rel="noopener noreferrer">exit its investment</a> in Vietnam’s Hanoi French Hospital (HFH). Internal preparations for the exit have begun and the PE firm has started sending out feelers to potential buyers.
Falcon House Partners is <a href="https://www.dealstreetasia.com/stories/falcon-house-potato-head-147914/" target="_blank" rel="noopener noreferrer">in talks to sell its existing stake</a> in Indonesia’s lifestyle and hospitality brand Potato Head Family. The PE firm currently holds a 35 per cent stake in the company, which runs beach clubs and hotel chains in Hong Kong, Singapore, Bali and Jakarta.
People moves 
Consumer-focused private equity firm L Catterton <a href="https://www.dealstreetasia.com/stories/l-catterton-asia-chinta-bhagat-148065/" target="_blank" rel="noopener noreferrer">announced the appointment</a> of former Khazanah Nasional Bhd executive Chinta Bhagat as a co-managing partner and head of Asia funds, confirming an earlier DealStreetAsia story.
LP commitments 
Washington State Investment Board (WSIB) <a href="https://www.dealstreetasia.com/stories/wsib-warburg-pincus-china-sea-fund-148322/" target="_blank" rel="noopener noreferrer">disclosed a commitment</a> of up to $300 million to Warburg Pincus&#8216;s China-Southeast Asia-focused private equity fund, which closed in June at over $4.25 billion.
The Employees Retirement System of Texas (ERS), one of the largest pension funds in the US, has <a href="https://www.dealstreetasia.com/stories/texas-pension-fund-pag-ers-148330/" target="_blank" rel="noopener noreferrer">committed a total of $125 million</a> to two separate Asia-focused funds. This includes a $100-million commitment to Hong Kong-based PAG’s second real estate vehicle.
The New York State Common Retirement Fund (NYSCRF) <a href="https://www.dealstreetasia.com/stories/pension-fund-newquest-asia-148829/" target="_blank" rel="noopener noreferrer">disclosed a $20-million commitment</a> to Hong Kong-based NewQuest Capital Partners&#8217; latest Asia secondaries fund.
Startups on the prowl
Fresh after raising its $100-million Series D round last month, Singapore-headquartered artificial intelligence (AI) startup Near is on the hunt for <a href="https://www.dealstreetasia.com/stories/near-us-acquisitions-148282/" target="_blank" rel="noopener noreferrer">acquisitions in the US</a>, its founder and CEO Anil Mathews told us in an interview.
Indonesia’s ride-hailing and payments unicorn GOJEK is <a href="https://www.dealstreetasia.com/stories/gojek-moka-148646/" target="_blank" rel="noopener noreferrer">set to acquire</a> local mobile point-of-sale (mPOS) startup Moka in a deal likely to be worth over $100 million, Sarah and Ardi reported.
Funding news
Carro, a Singapore-based automotive marketplace, announced this week <a href="https://www.dealstreetasia.com/stories/carro-series-b-funding-jualo-com-147778/" target="_blank" rel="noopener noreferrer">the close of its Series B funding round</a> at $90 million. After securing $60 million for the round last year, it raised an additional $30 million from SoftBank Ventures Asia, EDBI, Dietrich Foundation and NCORE Ventures. The announcement confirmed a March report by DealStreetAsia.
Singapore-based grocery and food delivery startup Honestbee said its existing investors have expressed interest in <a href="https://www.dealstreetasia.com/stories/honestbees-restructuring-report-148390" target="_blank" rel="noopener noreferrer">investing up to $30 million</a> in the embattled company, the Business Times reported this week.
Indonesia’s Mekari, which was formed after the merger of four SME-focused SaaS startups, has <a href="https://www.dealstreetasia.com/stories/mekari-seriesa-148895/" target="_blank" rel="noopener noreferrer">raised Series A funding</a> from investors including East Ventures, Mandiri Capital Indonesia and Money Forward Japan.
Indonesian beauty e-commerce and social platform Sociolla is set to announce a <a href="https://www.dealstreetasia.com/stories/temasek-ev-growth-sociolla-149011/" target="_blank" rel="noopener noreferrer">fresh funding round</a> co-led by Singapore’s Temasek Holdings and venture capital fund EV Growth. 
SE Asia sees tech investments spike in H1
According to data from Cento Ventures, the first half of this year saw <a href="https://www.dealstreetasia.com/stories/tech-funding-sea-h1-148912/" target="_blank" rel="noopener noreferrer">at least 332 tech investments</a> across Southeast Asia, up from 183 deals in the second half of 2018 and 177 in the first half. The surge in deal volume was helped by a spike in early-stage deals, which meant total deal value in H1 at $5.99 billion was lower than $8.31 billion during the same period last year.
From the VC world
Mandiri Capital Indonesia, the country&#8217;s first CVC backed by a bank, is <a href="https://www.dealstreetasia.com/stories/mandiri-capital-new-vc-fund-eddi-danusaputro-148136/" target="_blank" rel="noopener noreferrer">venturing beyond fintech</a> with its upcoming fund. The new vehicle, which is set to be closed in Q4 this year, will be its first to tap external investors and is expected to seek up to $100 million.
Pandan Ventures, a newly-formed VC firm in Singapore, is in talks with at least two general partners (GPs) to <a href="https://www.dealstreetasia.com/stories/pandan-ventures-vc-fund-148023/" target="_blank" rel="noopener noreferrer">join its first early-stage tech fund</a>, an evergreen vehicle with a mandate to invest in European, Israeli and American startups seeking expansion in Asia.
M&amp;A news
Thailand’s TMB Bank, Thanachart Capital (TCAP) and Scotia Netherlands Holding (BNS) have approved <a href="https://www.dealstreetasia.com/stories/thailands-tmb-bank-thanachart-148965/" target="_blank" rel="noopener noreferrer">the $4.6-billion merger</a> of TMB Bank and Thanachart Bank (TBANK). The combined entity will have total assets of about 1.9 trillion baht and will be the sixth-largest lender in Thailand.
Thailand-based Indorama Ventures will be <a href="https://www.dealstreetasia.com/stories/thailands-indorama-ventures-148957/" target="_blank" rel="noopener noreferrer">acquiring the chemical intermediates businesses</a> of US-listed Huntsman Corporation in a nearly $2.1-billion deal. The transaction includes $2 billion in cash and $76 million in net underfunded pension,
Weekend reading 
This story from Nikkei Asian Review explores the <a href="https://www.dealstreetasia.com/stories/sensetime-ai-dreams-149035/" target="_blank" rel="noopener noreferrer">global ambitions</a> of China&#8217;s AI unicorn SenseTime, whose technology is used by the government for its extensive surveillance, and the risk it runs of meeting the same fate as Huawei, given its ties with Beijing.

Private equity took centre stage this week as we covered fundraising, potential exits and LP commitments. Plus, SEA saw tech deals spike in H1.

Editor's take: The week that was - August 5-9

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Editor's take: The week that was - August 5-9

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