Deal flow has been robust across Asia, particularly in Singapore, as both funds and startups secure capital for growth coming out of the pandemic.
There has also been some buzz this week in Malaysia, as competition for the country’s five digital banking licences picks up.
Among the deals said to be in the market is Indonesian media and technology conglomerate Emtek Group‘s investment in Bank of India Indonesia. Emtek is the largest shareholder of Indonesian e-commerce unicorn Bukalapak and e-wallet DANA.
Other significant transactions in Southeast Asia announced during the week include Fairbanc’s pre-Series A funding round of at least $2 million from investors including ADB Ventures and East Ventures.
On the fundraising trail
Temasek-backed Vertex Ventures is about to secure $330 million for the first close for its second growth fund, which has a hard cap of $400 million. Vertex Growth’s debut fund closed at $290 million in 2019….