DealStreetAsia

Secondary sale of portfolio of assets or individual assets is quite active globally in both the private equity and venture capital space. "In India, over the last decade or so, a handful of transactions have been undertaken mostly on the private equity side of the business and not much on the venture capital side,” Pratip Mazumdar, co-founder and partner at sector-agnostic, technology-focused fund Inflexor Ventures. Inflexor recently made headlines when it announced the first close of its Opportunities Fund at Rs 280 crore, which is 80% of its Rs 350-crore ($41.5 million) target. Interestingly, a part of the capital, the VC said, would be used by its dominant LP — HDFC AMC — to acquire the entire portfolio of assets of its maiden fund, in a first for the VC industry in India. Earlier, Neo Asset Management Pvt. Ltd., which is a part of wealth management startup Neo Group, was also said to be in talks to acquire stakes in a few portfolio companies of Peak XV Partners (formerly Sequoia Capital India & SEA) as it looks to foray into the PE-VC space. Thanks Pratip Mazumdar for talking to us and at DealStreetAsia. https://lnkd.in/d_rAZ3yG

Vridhi Finserv Home Finance Limited on Tuesday said it has raised Rs 310 crore ($36.9 million) in its Series B round of funding led by Norwest Venture Partners, with participation from its existing investor Elevation Capital.

Risk capital investors appear to be increasingly parking large sums of money in Indian startups if the rise in big-ticket transactions this year is an indicator. Megadeals, or transactions worth at least $100 million, collectively raised $4.76 billion in the Jan-Sept 2024 period, recording a 15% jump from $4.12 billion in the comparable period last year.

Coolmate, a Vietnam-based e-commerce direct-to-consumer (D2C) men’s apparel brand, has announced the completion of its $6 million Series B funding round, led by Vertex Ventures SE Asia & India, according to an announcement.

With the global liquidity crunch reshaping private capital flows since early 2022, Southeast Asian startups have been pursuing aggressive business reforms to ensure sustainability and accelerate the path to profitability.

Sopnendu Mohanty, chief fintech officer at Singapore’s central bank, is stepping down from his role in February 2025 after years of being the face of the city-state’s innovations in the financial sector.

Yoho, a direct-to-consumer (D2C) footwear brand, has raised about $3.2 million (Rs 27 crore) in its pre-Series B funding round led by Gulf Islamic Investments (GII) to fuel its domestic and international expansion, per an announcement on Tuesday.

Indonesian loyalty platform Global Poin Indonesia (GetPlus) will cease operations from December 6, 2024, the company announced on social media.

India-based health and fitness startup HealthifyMe App issued shares worth $32.7 million last week to LeapFrog Investments, Khosla Ventures, Blume Ventures, Unilever Ventures and other investors.

Indonesian state-owned VC firm Jakarta Ventura (Jakvent) is gearing up to establish itself as a prominent player in the nation’s startup ecosystem by investing through blended financing, equity, and debt. It aims to fund three to five startups next year, said a senior executive in an interview with DealStreetAsia.