A good month for growth funding deals

Even as the deal activity took a beating in Southeast Asia, Greater China and India in November, which were the key deals in these markets?

DealStreetAsia’s editors present Deals Barometer, which pries out the vital statistics from the deal activity in Asia, such as mega deals, the top 10 sectors, and the investors driving the deals.

In Greater China, for example, state-owned SAIC Motor led the most number of deals in November 2022, driving as much as $268 million of investments, including two mega deals.

Top Investors (Nov 2022)

SAIC primarily invests through three affiliated investment companies, namely SAIC Capital, Hengxu Capital, and Shang Qi Capital.

Meanwhile, India clocked its highest number of deals (131) since March 2022. The top 10 deals accounted for 51% of the $1.3 billion raised by startups in India, and growth-stage deals were 30% higher in November than in the previous month.

PE-VC fundraising by Indian startups (2022)

For Southeast Asia, November was the weakest month of 2022. There were only 67 deals aggregating $743 million — the value of deals was 42.4% lower than in the previous month. Healthtech was a bright spot though, accounting for 38% of the capital raised in November.

Fundraising value and volume in SE Asia (Nov 2021 — Nov 2022)

For more such nuanced highlights from these key markets, sign up for your copy of the free-to-read Deals Barometer to get an in-depth perspective of fundraising in Asia.