<article>This week started out with the news of a change in guard at KKR, the $430 billion New York-based private equity powerhouse. </article>

This week started out with the news of a change in guard at KKR, the $430 billion New York-based private equity powerhouse. 
The firm announced on Monday that its co-founders, and original barbarians at the gate, Henry Kravis and George Roberts are stepping back to make way for only the second pair of co-CEOs in the company&#8217;s history, Joe Bae and Scott Nuttall, both 25-year veterans at the firm. 
Kravis and Roberts, whose leveraged buyout of American tobacco-and-food conglomerate RJR Nabisco was immortalised in the book and subsequent movie Barbarians At The Gate, “will remain actively involved as Executive Co-Chairmen” at KKR, the firm said in a statement. 
Observers have noted that the move has been in the works, and should not come as a surprise to investors. The NYSE-listed firm&#8217;s shares slipped in trading after the announcement but had recovered by the end of the trading week.
KKR’s leadership transition change spotlights succession planning at founder-led funds, of which there is a good number in Asia; a lack of preparation or a poorly thought-through plan could be a concern for LPs. 
Separately, we had an interview this week with KKR about the <a href="https://www.dealstreetasia.com/stories/se-asia-tech-kkr-casey-263153/">firm’s New Generation Technology Strategy in Southeast Asia.</a> KKR is one of the most active investors in tech, counting GoTo and Voyager Innovations in its portfolio. 
In other private equity developments:
<a href="https://www.dealstreetasia.com/stories/sequoia-china-infra-funds-265293/">Sequoia Capital China has filed</a> to raise three new infrastructure funds, identified as private equity vehicles, according to filings with the US Securities and Exchange Commission. 
US real estate investment manager <a href="https://www.dealstreetasia.com/stories/lasalle-asia-opportunity-fund-264344/">LaSalle Investment Management has made the first close</a> for its Asia-focused PE real estate fund, at $1.07 billion, out of the targeted $1.5 billion. 
Healthcare-focused investor <a href="https://www.dealstreetasia.com/stories/quadria-capital-vietnam-deal-264224/?utm_source=DealStreetAsia&amp;utm_campaign=a2fb47bf9c-EMAIL_CAMPAIGN_2021_10_11_01_02&amp;utm_medium=email&amp;utm_term=0_0fa50e40c1-a2fb47bf9c-246670477&amp;mc_cid=a2fb47bf9c&amp;mc_eid=30f244e88b">Quadria Capital has a healthy pipeline</a> of deals in Southeast Asia, particularly in Vietnam, Thailand, and the Philippines. 
Indeed, Southeast Asia is set to see heightened investor interest, GPs say, <a href="https://www.dealstreetasia.com/stories/china-tech-crackdown-se-asia-264298/?utm_source=DealStreetAsia&amp;utm_campaign=a2fb47bf9c-EMAIL_CAMPAIGN_2021_10_11_01_02&amp;utm_medium=email&amp;utm_term=0_0fa50e40c1-a2fb47bf9c-246670477&amp;mc_cid=a2fb47bf9c&amp;mc_eid=30f244e88b">redirected from China </a>where tightened regulatory controls over the tech sector has wiped over a trillion dollars in market value from the country’s internet giants. 
<h3>Top deals</h3>
Indonesian tech giant GoTo is <a href="https://www.dealstreetasia.com/stories/adia-temasek-goto-264458/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/stories/adia-temasek-goto-264458/">set to close its pre-IPO fundraising</a>, with the round likely to be led by Abu Dhabi Investment Authority. Singapore state investor Temasek, an existing backer, is expected to top up.
GoTo has more than 100 investors on its cap table, including SoftBank Group, Alibaba, Sequoia Capital, Google, and GIC. In the run-up to its IPO, the group has undertaken several transactions, including <a href="https://www.dealstreetasia.com/stories/goto-foreign-owners-gopay-264150/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/stories/goto-foreign-owners-gopay-264150/">acquiring all the shares in fintech unit GoPay</a> from other investors.
In Vietnam, e-commerce company Tiki has <a href="https://www.dealstreetasia.com/stories/vietnam-tiki-closes-series-e-265177/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/stories/vietnam-tiki-closes-series-e-265177/">raised $136 million</a> from global investors including South Korea’s Mirae Asset, and UBS AG, in the second tranche of its ongoing Series E round, according to regulatory filings.
In Singapore, following comprehensive measures to attract special purpose acquisition companies (SPACs), global investors are looking to be SPAC sponsors in the city-state, <a href="https://www.dealstreetasia.com/stories/global-sponsors-sgx-spacs-264757/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/stories/global-sponsors-sgx-spacs-264757/">industry insiders tell DealStreetAsia</a>.
Meanwhile, Singapore-based Atome Financial has <a href="https://www.dealstreetasia.com/stories/standard-chartered-atome-financial-264908/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/stories/standard-chartered-atome-financial-264908/">secured a strategic investment</a> from Standard Chartered Bank, as part of a 10-year partnership between the bank and the buy now, pay later player.
<h3>Other funds and fundings</h3>
Southeast Asia’s startups raised $6 billion in the third quarter of this year, according to deals tracked by DealStreetAsia &#8211; DATA VANTAGE. Startups in Singapore raised $4.1 billion, outperforming the whole of 2020. Get all the details in <a href="https://www.dealstreetasia.com/reports/se-asia-deal-review-q3-2021/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/reports/se-asia-deal-review-q3-2021/">this report</a>.
Singapore lender United Overseas Bank and venture capital firm Signum Capital are said to be launching <a href="https://www.dealstreetasia.com/stories/uob-signum-launch-blockchain-fund-264480/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/stories/uob-signum-launch-blockchain-fund-264480/">a $50 million blockchain fund</a>. This comes amid a growing appetite for crypto investments in Southeast Asia, particularly Singapore, which is beginning to grant crypto licences.
Digital mental health platform Thoughtfull <a href="https://www.dealstreetasia.com/stories/se-asia-deals-oct-11-264610/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/stories/se-asia-deals-oct-11-264610/">raised $1.1 million in seed funding</a> backed by Silicon Valley’s The Hive SEA fund; Singapore’s Vulpes Investment Management; and US VC firm Flybridge. The Singapore-based company was founded in 2019 and has since expanded to serve people across 43 countries.
<h3>Trendspotting</h3>
There has been a flurry of transactions among the top tech giants and their investors in Indonesia, re-aligning alliances and restructuring the e-commerce and payments ecosystems. <a href="https://www.dealstreetasia.com/stories/bukalapak-grab-salim-group-262859/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/stories/bukalapak-grab-salim-group-262859/">This week’s piece</a> is on the Grab-Bukalapak-Salim Group connection and who stands to gain the most.
Meanwhile, sessions at DealStreetAsia’s recent Asia PE-VC Summit 2021 covered key topics including startup valuations, exits, and the broader investment landscape in Southeast Asia.
If you missed the sessions, some key sessions to catch up with this week include this <a href="https://www.dealstreetasia.com/stories/vertex-chua-kee-lock-2-264205/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/stories/vertex-chua-kee-lock-2-264205/">fireside chat</a> with Vertex Ventures’s Chua Kee Lock; a <a href="https://www.dealstreetasia.com/stories/se-asia-exits-validation-263958/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/stories/se-asia-exits-validation-263958/">discussion on tech exits</a> with Sequoia India&#8217;s Abheek Anand and Jungle Ventures’s David Gowdey; a panel on the <a href="https://www.dealstreetasia.com/stories/alt-proteins-sustainability-264011/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/stories/alt-proteins-sustainability-264011/">alternative protein industry</a>; and a session on how <a href="https://www.dealstreetasia.com/stories/impact-investing-turns-mainstream-264032/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/stories/impact-investing-turns-mainstream-264032/">impact investing</a> is turning mainstream.
Also, Indonesia’s stock exchange commissioner Pandu Sjahrir discussed <a href="https://www.dealstreetasia.com/stories/idx-pandu-sjahrir-264107/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/stories/idx-pandu-sjahrir-264107/">market reforms and listing developments</a> in the country; and VCs talked about <a href="https://www.dealstreetasia.com/stories/asia-consumption-growth-trend-264723/" target="_blank" rel="noopener" data-cke-saved-href="https://www.dealstreetasia.com/stories/asia-consumption-growth-trend-264723/">Asia’s long-term consumption growth</a>.
Stay with us as we bring you more deal intelligence and insights into what&#8217;s top of investors&#8217; minds.

A change in guard at buyout major KKR and the latest updates from GoTo and Tiki's fundraising feature in this edition.

Editor's take: The week that was — Oct 11-16

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Editor's take: The week that was — Oct 11-16

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