<article>The deal counters were kept abuzz by investors and companies alike in the week that went by. Let&#8217;s dive into the highlights.</article>

The deal counters were kept abuzz by investors and companies alike in the week that went by. Let&#8217;s dive into the highlights.
<h3>LP-GP news</h3>
Singapore-based ABC Impact is learnt to be <a href="https://www.dealstreetasia.com/stories/abc-world-asia-second-impact-fund-328280">seeking at least $600 million</a> for its second impact fund. The Temasek-backed private equity firm closed its debut fund at $300 million in late 2019.
Healthcare-focused PE firm Quadria Capital, which is raising $800 million for its third fund, is looking to <a href="https://www.dealstreetasia.com/stories/quadria-capital-third-fund-2-327740">hold the first close</a> for the vehicle sometime in the first half of 2023.
ShawKwei &amp; Partners is <a href="https://www.dealstreetasia.com/stories/shawkwei-asian-industrials-328661">“actively looking” for acquisitions</a> as it seeks to deploy the remaining $300 million from its fourth fund by the end of this year, the firm’s founder and managing partner Kyle Shaw told DealStreetAsia.
eWTP Arabia Capital, a venture capital fund backed by China’s Alibaba Group and Saudi Arabia’s Public Investment Fund (PIF), is reportedly <a href="https://www.dealstreetasia.com/stories/alibaba-and-pif-backed-ewtp-raising-1b-for-asia-mena-investments-report-329361">close to raising $1 billion</a> to invest in tech startups in China, India, Southeast Asia, and MENA.
Oriza Rivertown, the growth-stage investment platform of China’s Oriza Holdings, has <a href="https://www.dealstreetasia.com/stories/chinas-oriza-rivertown-raises-236m-for-two-new-funds-329263">raised 1.6 billion yuan</a> ($235.8 million) in capital commitments for two new funds.
Southeast Asia-focused PE firm Navis Capital Partners is <a href="https://www.dealstreetasia.com/stories/navis-capital-isa-group-328485">looking to exit</a> its investment in ISA Industrial Group, a leather and sustainable materials provider for the footwear and apparel industry.
The International Finance Corporation (IFC) is considering a proposal to <a href="https://www.dealstreetasia.com/stories/ifc-proposes-25m-investment-in-asia-partners-second-growth-fund-328941">invest up to $25 million</a> in Singapore-based Asia Partners&#8216;s second tech-focused fund.
Former AngelList and 500 Global investor Wing Vasiksiri is <a href="https://www.dealstreetasia.com/stories/wing-vasiksiri-launches-2nd-solo-gp-fund-for-seasia-328378">launching his second solo GP fund</a> for Southeast Asia.
Hong Kong-based family office Tsangs Group is <a href="https://www.dealstreetasia.com/stories/the-lp-view-tsangs-group-328267">looking to diversify its regional investments</a> into some of Asia’s fastest-growing economies — in India and Southeast Asia.
Japanese public investment fund Japan Investment Corporation has committed to <a href="https://www.dealstreetasia.com/stories/japan-jic-saisei-bioventures-328864">invest $30 million</a> in Saisei Bioventures, a venture capital vehicle focused on the regenerative medicine industry.
The University of Melbourne has <a href="https://www.dealstreetasia.com/stories/university-of-melbourne-makes-70m-first-close-for-new-venture-fund-328720">secured A$100 million</a> (about $70 million) for the first close of its university-specific fund.
UK-based infrastructure investor Actis has filed with the US Securities and Exchange Commission (SEC) to <a href="https://www.dealstreetasia.com/stories/actis-asia-climate-transition-fund-328693">raise a new fund</a> focused on Asia’s climate transition.
Indonesia’s Merah Putih Fund will <a href="https://www.dealstreetasia.com/stories/merah-putih-fund-first-close-march-329264">start investing in startups</a> after holding its first close at $300 million next month, Eddi Danusaputro, head of project management at the fund, told DealStreetAsia.
GLP Capital Partners, a unit of the global logistics heavyweight GLP, has <a href="https://www.dealstreetasia.com/stories/glp-restructures-fund-management-arm-328902">restructured its business</a> to focus on investments in real assets and private equity.
<h3>Deal updates from SE Asia</h3>
Vietnamese conglomerate Masan Group will <a href="https://www.dealstreetasia.com/stories/masan-105m-trust-iq-329406">invest up to $105 million</a> for a 25% stake in the holding company of local credit scoring company Trusting Social.
Evermos, an Indonesia social commerce platform focused on halal products, is said to be <a href="https://www.dealstreetasia.com/stories/evermos-new-funding-round-328997">sealing an over $40-million funding round</a> in the next few weeks.
Singapore-based Partior, a Temasek-backed blockchain-enabled platform for payments clearing and settlements, <a href="https://www.dealstreetasia.com/stories/partior-series-a-round-329414">raised $31 million</a> in its Series A funding round led by Standard Chartered, according to regulatory filings.
Bangkok-based fintech firm MONIX has <a href="https://www.dealstreetasia.com/stories/thai-fintech-startup-monix-raises-20m-from-lombard-asia-and-scbx-in-pre-ipo-round-329006">racked up $20 million</a> in the first close of its pre-IPO round led by Siam Commercial Bank’s parent company SCBX and Lombard Asia.
Tazapay, a Singapore-based cross-border payments startup, has <a href="https://www.dealstreetasia.com/stories/sg-fintech-startup-tazapay-secures-nearly-17m-in-sequoia-led-series-a-329240">raised $16.9 million</a> in a Series A round anchored by Sequoia Capital Southeast Asia.
Pharma platform SwipeRx <a href="https://www.dealstreetasia.com/stories/sg-digital-pharmacy-swiperx-secures-10m-in-series-b2-funding-round-329195">secured $10 million</a> as part of a new Series B2 round led by pharma giant Sanofi’s global health unit and Cercano Management (formerly known as Vulcan Capital).
VFlowTech, a Singapore-based energy storage solutions provider, has <a href="https://www.dealstreetasia.com/stories/vflowtech-series-a-funding-328699">bagged $10 million</a> in a Series A round led by Japanese venture capital investor Real Tech Holdings.
Southeast Asia Clean Energy Facility (SEACEF), a Singapore-based fund managed by Clime Capital, has <a href="https://www.dealstreetasia.com/stories/seacef-to-invest-in-sg-based-solar-developer-skye-renewables-328516">committed to invest</a> in Skye Renewables Holdings, a commercial and industrial solar developer headquartered in the city-state.
Global PE firm I Squared Capital has <a href="https://www.dealstreetasia.com/stories/indias-polaris-smart-metering-raises-100m-from-i-squared-capital-329010">acquired a majority stake</a> in Singapore-based Polaris Smart Metering, which operates Gram Power in India, for $100 million.
<h3>News from India</h3>
E-commerce giant Amazon and Bahrain’s Investcorp have <a href="https://www.dealstreetasia.com/stories/amazon-investcorp-freshtohome-329155">invested in the latest funding round</a> of FreshToHome, a Bengaluru-based e-commerce platform for fresh fish, meat, and seafood, according to regulatory filings.
Food and grocery delivery platform Zomato&#8216;s <a href="https://www.dealstreetasia.com/stories/indian-food-delivery-platform-zomatos-losses-zoom-nearly-5-times-as-slowdown-bites-329407">losses widened nearly five times</a> in the Oct-Dec quarter as a continuous surge in expenses and a slowdown in the food delivery business dampened revenue growth.
Market research platform provider Entropik has <a href="https://www.dealstreetasia.com/stories/entropik-series-b-funding-328975">raised $25 million</a> in a Series B funding round led by Bessemer Venture Partners and SIG Venture Capital.
Indian frontline workforce management platform BetterPlace has <a href="https://www.dealstreetasia.com/stories/indian-hr-tech-startup-betterplace-acquires-indonesian-job-portal-myrobin-328493">acquired a majority stake</a> in Indonesia-based job platform MyRobin.
Tiger Global-backed brand aggregator Mensa Brands has secured <a href="https://www.dealstreetasia.com/stories/tiger-global-backed-mensa-brands-raises-37m-debt-funding-from-tradecred-328815">Rs 300 crore</a> ($37 million) in venture debt from TradeCred for acquisitions and growth.
MO Alternate Investment Advisors, an arm of Motilal Oswal, has <a href="https://www.dealstreetasia.com/stories/motilal-oswal-invests-pan-healthcare-328795">acquired a minority stake</a> in Pan Healthcare, a manufacturer of hygiene products, including baby diapers, adult diapers and sanitary napkins, for $48.3 million (Rs 400 crore).
Electric vehicle maker Simple Energy has <a href="https://www.dealstreetasia.com/stories/simple-energy-bike-bazaar-raise-funds-328829">raised over $20 million</a> in an ongoing bridge funding round, while two-wheeler sales and financing startup Bike Bazaar has snapped up around $10 million in additional funding from DEG.
Hyperlocal and EV-based last-mile delivery startup Zypp Electric has <a href="https://www.dealstreetasia.com/stories/zypp-electric-gogoro-328944">raised $25 million</a> in a mix of equity and debt funding.
<h3>People news</h3>
Indonesia-listed tech giant PT GoTo Gojek Tokopedia <a href="https://www.dealstreetasia.com/stories/goto-leadership-structure-329002">announced a slew of changes</a> to its leadership structure, including roping in former finance minister and central bank governor Agus Martowardojo and Northstar Group co-founder Patrick Walujo as commissioners. Among other changes, Kevin Aluwi will step down from the board of commissioners, while William Tanuwijaya will transition from his day-to-day responsibilities at Tokopedia to focus on GoTo’s group business.
500 Global has appointed Saemin Ahn as <a href="https://www.dealstreetasia.com/stories/500-global-growth-equity-partner-329110">a partner for growth-stage equity investments</a> in Southeast Asia.
Following severe social media backlash over the last few days, Grab has decided to move Singapore MP Tin Pei Ling to <a href="https://www.dealstreetasia.com/stories/grab-moves-singapore-mp-tin-pei-ling-to-corporate-role-following-criticism-329451">a corporate development role</a>.
<h3>Some sobering updates</h3>
Startups headquartered in Greater China <a href="https://www.dealstreetasia.com/stories/greater-china-deal-review-q4-2022-summary-328898">raised $14.5 billion</a> in the fourth quarter of 2022, down 4.4% sequentially, while deal volume dropped 8.4% from a record 690 in the previous quarter, according to DealStreetAsia &#8211; DATA VANTAGE&#8216;s latest report.
The new year failed to cheer up the Indian startup ecosystem as venture investments in the country <a href="https://www.dealstreetasia.com/stories/fundraising-startups-jan-328441">hit a four-month low</a> at $1.15 billion in January amid deepening funding woes and massive tech layoffs. On a year-on-year basis, funding proceeds dropped more than a third from $4.43 billion in January 2022, while deal volume almost halved.
Only eight privately-held Southeast Asian startups <a href="https://www.dealstreetasia.com/stories/se-asia-new-unicorns-of-2022-328418">earned the coveted unicorn tag</a> in 2022 — a year marked by down rounds and a slowdown in private market funding, especially in the late stages. In comparison, 2021 saw the emergence of a record 23 unicorns from the region.
<a href="https://www.dealstreetasia.com/stories/thai-startup-ecosystem-deloitte-report-329061">Thai startups are struggling</a> to make it in an ultra-competitive market, with many still unable to find their way to seed funding from venture capitalists, according to a recent report by global consulting firm Deloitte.
<h3>Beyond the headlines</h3>
We looked at IDX-listed sharia digital lender PT Bank Aladin Syariah&#8216;s plans to <a href="https://www.dealstreetasia.com/stories/bank-aladin-alfamart-328571">turn profitable by 2024</a> as it seeks to capitalise on its partnership with Indonesian retail chain Alfamart.
To achieve its profitability target, Bank Aladin plans to launch new products such as investment loans for SMEs, consumer loans for Alfamart customers, and payroll-based loans for Alfamart employees.
In another story, we looked at <a href="https://www.dealstreetasia.com/stories/asa-ren-bets-328805">the aspirations</a> of Indonesia-based DNA testing company Asa Ren, which recently secured $8.15 million in pre-Series A funding from London-based Naya Capital, Kejora Capital, Northstar Group and others.

The deal counters were kept abuzz by investors and companies alike in the week that went by. Here is the recap.

Editor's take: The week that was — Feb 6-11

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Editor's take: The week that was — Feb 6-11

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