Data Vantage | Peptobiotics, SingleInterface, ceEntek, Pawprints and Toki in focus

Edition #363, 11 April 2024

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Dear Reader,

Singapore-based biotech startup Peptobiotics issued Series A shares worth $8.4 million to investors, including Hatch Blue, Entrepreneur First, SEEDS Capital and The Yield Lab Asia Pacific, last week.

The share allotment follows the close of the startup’s $6.2 million Series A round. In addition to securing fresh equity funding from the likes of Hatch Blue’s Blue Revolution Fund, SEEDS Capital and Seventure Partners, Peptobiotics has issued conversation shares to investors, including Genedant Ventures and Ponderosa Ventures. It is now valued at [redacted] million, per DATA VANTAGE.

The startup has developed a synthetic biology alternative to livestock antibiotics that it claims offers the same efficacy and cost effectiveness without causing bacterial resistance. It is initially focusing its efforts on the aquaculture market, where it sees an overuse of antibiotics.

Most SE Asia-focused PE funds failed to meet targets in 2023

Of the six Southeast Asia-focused PE funds that announced their final close last year, only one could achieve its fundraising target, according to a recent DATA VANTAGE report.

For instance, Growtheum Capital, which was seeking $600–800 million for its debut fund, closed it at $567 million in August. Meanwhile, Asia Partners failed to reach the $600 million target for its second fund, instead closing it at $474 million in December. In a similar vein, The Asia Energy Transition Fund, managed by SUSI Partners of Switzerland, closed at $120 million in June, falling short of its $250 million goal.

The only exception was Novo Tellus Fund III by Novo Tellus Capital Partners, which managed to surpass its target of $375 million and closed at $510 million.

The six funds that reached their final close in 2023 raised $2 billion which was on par with the previous year’s proceeds of $2.1 billion, according to Private Equity in SE Asia: H2 2023 Review. These figures depict a strikingly different picture of fundraising in the region from the global PE landscape that witnessed a steep decline last year.

Source: Private Equity in SE Asia: H2 2023 Review Executives at top investment firms, financial services majors, and leading private companies use DATA VANTAGE to make smarter investment decisions in Asia. (See how)

Other updates from DATA VANTAGE

Marketing and commerce SaaS startup SingleInterface received around $22.6 million last month from growth equity firm Asia Partners and PayPal Ventures. The company recently announced the close of a $30 million round.

Singapore-based building materials supplier ceEntek secured [redacted] million this week from backers, including [redacted] and several angel investors.

Indonesian pet food startup Pawprints allotted shares worth $1.55 million this week to Creative Gorilla Capital, Unruly Rebels, Altrui Investment Management and other investors.

Filipino social commerce startup Toki secured $1.1 million this week from Kaya Founders, Foxmont Capital Partners and other investors. The investment is part of a $1.8 million pre-seed round announced in January.

Alibaba Singapore, which directly controls Southeast Asia’s e-commerce giant Lazada, received $186.8 million in capital injection from its parent firm last week.

Snaphunt, a Singapore-based AI-based recruitment platform, received [redacted] from existing investor BEENEXT last week.

As a free subscriber, you’re reading a redacted version of DealStreetAsia’s premium DATA VANTAGE twice-weekly newsletter. Unlock access to the complete version by picking up any of our premium subscription plans. Anticipate Asia’s Rising Stars and Secure Lucrative Exits

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