<article><p>I am back with my select list of exclusive stories and analytical pieces we carried this week.</p></article>

<p>I am back with my select list of exclusive stories and analytical pieces we carried this week.</p>
<h3>Deal news first</h3>
<p>Japanese giant <a href="https://www.dealstreetasia.com/stories/softbank-zilingo-ruangguru-149779/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.dealstreetasia.com/stories/softbank-zilingo-ruangguru-149779/&amp;source=gmail&amp;ust=1566115897487000&amp;usg=AFQjCNELRrRawkTbEZGj4eBSgpMRKZVEhg">SoftBank Group Corp</a> has expressed interest in leading the next funding round for fashion marketplace Zilingo, edtech startup Ruangguru and fisheries e-commerce firm Aruna. SoftBank Group chairman and CEO Masayoshi Son is understood to have met the founders of the three firms during his visit to Indonesia last month, Ardi Wirdana reported.</p>
<p><a href="https://www.dealstreetasia.com/stories/carsome-seriesc-149564/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.dealstreetasia.com/stories/carsome-seriesc-149564/&amp;source=gmail&amp;ust=1566115897487000&amp;usg=AFQjCNEJDZHDVXKirWsK4X2GwInFo453JQ">Carsome</a>, a Malaysia-based used car marketplace, is in talks to raise $40 million in a Series C funding round by the end of this year, reported Kristie Neo. The Kuala Lumpur-based company last raised $20 million in May in a Series B round led by Burda Principal Investments. The other investors on its cap table are Gobi Partners, 500 Startups, Spiral Ventures, Lumia Capital, Indogen Capital and InnoVen Capital.</p>
<p><a href="https://www.dealstreetasia.com/stories/myanmar-ride-hailing-oway-149088/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.dealstreetasia.com/stories/myanmar-ride-hailing-oway-149088/&amp;source=gmail&amp;ust=1566115897487000&amp;usg=AFQjCNGM4A8pJsc1lygmv2I6F6qByVvESw">Oway</a>, Myanmar’s largest online travel and ride-hailing company, is in the market to raise capital to ramp up its expansion across the country. The startup has to date raised $24.7 million from investors including the International Finance Corporation, Singapore-based PE firm Northstar Group, Japan’s Daiwa PI Partners, Openspace Ventures, Emerging Markets Investment Advisers and Belt Road Capital Management.</p>
<h3>From pension funds this week</h3>
<p>The $28-billion New Zealand Superannuation Fund (NZ Super) is <a href="http://https//www.dealstreetasia.com/stories/nz-super-volatile-year-149283/" target="_blank" rel="noopener noreferrer">tweaking its investment strategy</a> in the wake of volatility spurred by the US-China trade tensions and a dovish stance by central banks. The fund plans to run a lower active risk and improve its equity exposure.</p>
<p>Meanwhile, the Canada Pension Plan Investment Board (CPPIB), one of the world’s largest pension funds, has committed around $1 billion across five Asia-focused private equity funds in 2019. Ka Kay Lum takes us through the details of the pension fund&#8217;s exposure to Asian vehicles <a href="https://www.dealstreetasia.com/stories/cppib-commits-1b-to-asia-focused-funds-2019-149839/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.dealstreetasia.com/stories/cppib-commits-1b-to-asia-focused-funds-2019-149839/&amp;source=gmail&amp;ust=1566115897487000&amp;usg=AFQjCNEPts5OHgzWJrNCDQsgvl6NUUsfQQ">in this report.</a></p>
<h3>Fundraising updates</h3>
<p>Hong Kong-headquartered special situations investment firm <a href="https://www.dealstreetasia.com/stories/ssg-capital-fifth-fund-149601/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.dealstreetasia.com/stories/ssg-capital-fifth-fund-149601/&amp;source=gmail&amp;ust=1566115897487000&amp;usg=AFQjCNGbodGg0zptjKBc54zaEyweVIXXXg">SSG Capital Management</a> is set to exceed a $1.5-billion target for its fifth flagship fund, which it expects to close later this quarter. The firm held an initial close for SSG Capital V at $610 million this January and a second close at $1.36 billion in May.</p>
<p>Asset management firm <a href="https://www.dealstreetasia.com/stories/clsa-asia-private-credit-strategy-149428/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.dealstreetasia.com/stories/clsa-asia-private-credit-strategy-149428/&amp;source=gmail&amp;ust=1566115897487000&amp;usg=AFQjCNEAaZbG5wGqx5fvso9b2bznpXGILw">CLSA Capital Partners</a> is raising funds for its Asia/Australia focused secured private credit strategy Lending Ark, according to a regulatory filing. The firm has not specified a maximum target and timeline for Lending Ark Asia Secured Private Debt Fund I.</p>
<p><a href="https://www.dealstreetasia.com/stories/01vc-second-fund-149415/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.dealstreetasia.com/stories/01vc-second-fund-149415/&amp;source=gmail&amp;ust=1566115897487000&amp;usg=AFQjCNHYCnLHcP3wek9adyScS23W_v1k-w">01VC</a>, a Shanghai-based early-stage venture capital firm, has closed its $100-million second fund focused on early-stage opportunities in China. The firm had closed its $30-million first fund in 2015. The VC backs startups in the consumer internet space.</p>
<p>Dutch development bank <a href="https://www.dealstreetasia.com/stories/fmo-investment-banyantree-india-149859/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.dealstreetasia.com/stories/fmo-investment-banyantree-india-149859/&amp;source=gmail&amp;ust=1566115897487000&amp;usg=AFQjCNF0ZxK018f_wJDvYKe8QtGwbgbhuQ">FMO</a> has proposed a $15-million investment in the latest fund of India-based venture capital and private equity firm BanyanTree. The fund, BanyanTree India Growth Capital Fund, is expected to close at $100-125 million. It will invest in 10 to 15 small to medium size companies in India’s tier 2 and 3 cities.</p>
<p><a href="https://www.dealstreetasia.com/stories/antler-china-office-149270/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.dealstreetasia.com/stories/antler-china-office-149270/&amp;source=gmail&amp;ust=1566115897487000&amp;usg=AFQjCNHwki6Zw5LypOa1xw6XJNDI1Odcgg">Antler</a>, a Singapore-based venture builder and early-stage venture capital firm, has opened an office in China. It is also exploring a China-focused fund to support the rollout of venture building programmes in the mainland.</p>
<h3>Analysis</h3>
<p>WeWork filed its S-1 paperwork this year and we pored over it to bring you <a href="https://www.dealstreetasia.com/stories/wework-sea-south-korea-149604/" target="_blank" rel="noopener noreferrer">Asia-specific disclosures</a> made by the SoftBank-backed firm. The filing reveals that WeWork‘s investments in PacificCo, its Southeast Asia and South Korea-focused joint venture with SoftBank, will reach $1 billion by 2020. WeWork also disclosed that SoftBank has committed to invest over $10 billion in the startup and its subsidiaries.</p>
<p>In a detailed story, Pramugdha Mamgain traced the growth of the <a href="https://www.dealstreetasia.com/stories/venture-debt-funding-148592/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.dealstreetasia.com/stories/venture-debt-funding-148592/&amp;source=gmail&amp;ust=1566115897487000&amp;usg=AFQjCNEMTcME3DsSoZeKpFS3aFcMDavECA">venture debt asset class</a> in India and Southeast Asia, highlighting top trends in the space. One, venture debt firms are raising larger vehicles. Two, founders are also looking at this avenue as a means to keep their equity intact. Three, founders are increasingly pursuing venture debt alongside equity as part of their fundraising process.</p>
<p>Meanwhile, Sarah Yuniarni reported that Indonesia&#8217;s <a href="https://www.dealstreetasia.com/stories/ideosource-venture-debt-149090/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.dealstreetasia.com/stories/ideosource-venture-debt-149090/&amp;source=gmail&amp;ust=1566115897487000&amp;usg=AFQjCNEKNiNrM3Dz1jcnmF7vyiuC9h86Ow">Ideosource</a> is looking to diversify into venture debt funding. The VC has so far invested in 27 early-stage tech startups including Bangkok-based aCommerce and Indonesian e-commerce players Orori, e-Fishery, and Bhinneka.</p>
<p>As Singapore-based <a href="https://www.dealstreetasia.com/stories/honestbee-restructuring-149016/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.dealstreetasia.com/stories/honestbee-restructuring-149016/&amp;source=gmail&amp;ust=1566115897487000&amp;usg=AFQjCNEoxP8rBfZ_v5mHk4C_PL5JB0-1pw">grocery and food delivery startup Honestbee</a> commences its court-supervised restructuring process, transparency and governance will be crucial to ensure the business’ sustainability, writes Ka Kay.</p>
<p>I leave you with these two pieces we carried from Nikkei Asian Review this week.</p>
<p>Myanmar’s securities regulator and the <a href="https://www.dealstreetasia.com/stories/myanmar-alternative-market-149324/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.dealstreetasia.com/stories/myanmar-alternative-market-149324/&amp;source=gmail&amp;ust=1566115897487000&amp;usg=AFQjCNEJyC9BNk0xTl2XnrZ3q-SnZkp0HA">Yangon Stock Exchange</a> are planning to establish an alternative market where investors can trade shares of unlisted companies. Dubbed the Myanmar Public Companies Board, the new market will be a stepping stone for companies to list on the fledgeling Yangon Stock Exchange.</p>
<p>The second piece is on <a href="https://www.dealstreetasia.com/stories/modalku-p2p-149997/" target="_blank" rel="noopener noreferrer" data-saferedirecturl="https://www.google.com/url?q=https://www.dealstreetasia.com/stories/modalku-p2p-149997/&amp;source=gmail&amp;ust=1566115897487000&amp;usg=AFQjCNG2NLaR7pfzlTW45mewHlFNyGCnNQ">Modalku&#8217;s journey</a> and how it has sprinted to the front of a crowded field capitalising on the huge financing needs of the under-served and under-banked small scale sector in Indonesia.</p>


From the latest startups to catch Masayoshi Son's fancy to pension funds' increasing allocation to Asia-focused funds, we covered it all this week.

Editor's take: The week that was - August 12-16

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Editor's take: The week that was - August 12-16

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