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Asia venture capital deal volume shows strong uptick in Q3 2019 but total investment declines, according to KPMG analysis
The number of venture capital (VC) deals in Asia saw a sharp increase in the third quarter of 2019 to 922 deals, up from 839 in the second quarter, while global VC deal volume dipped from 5,138 deals in the second quarter to 4,154, according to KPMG report, Venture Pulse Q3’2019. VC investment in Asia remained subdued, falling from USD 18.61 billion in the second quarter of 2019 to USD 14.92 billion in the third quarter, which was consistent with the fall in VC investment globally from USD 64.96 billion to USD 55.71 billion in the same period.
Egidio Zarrella, Partner and Head of Clients and Innovation, KPMG China, said, “There is a lot of interest in the Asian market, but investors have really slowed down their activity. They are being conservative, waiting to see where things go from an economic and geopolitical perspective. This does not mean activity is not happening at all.”
Chinese companies accounted for seven of the top 10 VC deals in Asia Pacific, taking the top four spots in the ranking. These comprise entertainment software company NetEase Cloud Music, which raised USD 700 million, as well as automotive companies Didi Chuxing (USD 600 million), CHJ Automotive (USD 530 million) and Byton (USD 500 million). Information services company Zhihu (USD 434 million), transportation firm Hellobike (USD 400 million) and office services provider D&J China (USD 300 million) ranked sixth, seventh and tenth respectively.
Investors to focus on strong business models and profitability in mainland China
With transportation and mobility sectors in mainland China accounting for five of the top 10 deals in Asia Pacific, it is clear that they have become the hottest sectors for VC investment in mainland China. AI and healthcare are also continuing to attract investment as both sectors start to see some consolidation. Health and biotech companies focusing on R&D in innovative drugs continue to benefit from regulatory reforms in mainland China, while the long-term prospects for companies developing drugs with differentiated profiles and meaningful supportive clinical data remain strong.
Philip Ng, Partner and Head of Technology, KPMG China, said, “Despite the challenges in the market, a number of sectors continued to attract investment, including fintech, autotech and biotech. Start-ups also need to focus on profitability and cashflow planning to build a sustainable business.”
Looking ahead, the VC market in mainland China is likely to feel the positive effects of the central government’s plans to forge ahead with policy reforms aimed at improving and modernising regulations across a wide range of industries, including insurance, finance, capital markets and healthcare.
Hong Kong capital market steady with IPO pipeline looking strong
Despite the short-term slowdown in IPO activity, the pipeline of companies applying for IPOs in Hong Kong has remained strong. The city saw Anheuser-Bush’s InBev Asia Pacific unit launch its IPO locally in the third quarter of 2019, the second largest globally behind Uber this year.
Irene Chu, Partner and Head of New Economy & Life Sciences, Hong Kong, KPMG China, said, “We continue to see economic volatility in Hong Kong this quarter which has affected a number of industries and investor sentiment. While the amount of funds raised for IPOs have dipped, the number of Main Board deals in the first three quarters is similar to that of last year and Hong Kong remains a top destination for IPOs. The pipeline of companies applying for IPO in Hong Kong is still very strong – but whether they will go out before the end of the year will depend on changing market conditions. InBev’s successful IPO could help spur activity.”
SOURCE KPMG China
GENEVA, Nov. 4, 2024 /PRNewswire/ — Swiss private banking group CBH Compagnie Bancaire Helvétique announces the appointment of Enid Yip as the new CEO of its subsidiary CBH Asia. Mrs Yip will also lead the Asia Regional Committee. Based in Hong Kong, CBH Asia is a key part of the Group’s strategic commitment to expand its presence in the region.
Concurrently, Patrick Wong, who has overseen the Asia business since 2017, has been appointed Deputy Chief Executive Officer. Mr Wong will continue to manage Operations, Regulatory and Compliance, and IT, while Mrs Yip will focus on enhancing the firm’s client offering and driving business development in line with the Group’s long-term strategy for Asia. With its entrepreneurial approach and exclusive and bespoke investment offering, CBH Asia offers compelling advantages to clients and relationship managers in the region.
A seasoned executive, Mrs Yip brings over 25 years of experience in successfully growing wealth management institutions in Asia. Most recently she was with LGT. Prior to that, she was a Member of the Board at Bank J. Safra Sarasin, having previously served as their Chief Executive Officer, Asia, overseeing the bank’s expansion in the region. Earlier in her career, Mrs Yip held various senior positions in the private banking industry.
Simon Benhamou, CBH Bank Chief Executive Officer said: “We are delighted to welcome someone of Enid’s calibre to lead CBH Asia. Her extensive experience and strong leadership will be instrumental in furthering our growth in key Asian markets. Our people are our greatest asset and with Enid’s strong commitment to our core values of entrepreneurship and teamwork, we are confident that she will further strengthen CBH Asia’s success. We extend our best wishes to Enid on her appointment.”
Mrs Yip said: “I am delighted to be joining a Group that fosters an environment where we can achieve great results by pursuing excellence with creativity. I am determined to expand CBH’s footprint in the region, building on our established expertise and maintaining our long-term vision of adding value for both clients and stakeholders.”
About CBH | Compagnie Bancaire Helvétique
CBH Compagnie Bancaire Helvétique is a family-owned Swiss banking group founded in 1975. Headquartered in Geneva, the Group currently counts close to 309 professionals in 10 locations around the world. As of December 31st, 2023 client assets totaled CHF 14.3 billion and the Group’s Tier 1 ratio was 43%, placing it among the best capitalized banks in Switzerland compared to its peers.
CBH Group provides wealth management services to private and institutional clients, as well as several complementary business lines, including family office solutions, asset services & structuring, exclusive private markets expertise, and bespoke daily banking and card solutions.
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The November editions of FinTech Magazine & InsurTech Digital includes interviews with leading experts and executives from
LONDON, Nov. 4, 2024 /PRNewswire/ — BizClik, the UK’s fastest-growing publishing company, has released the latest editions of FinTech Magazine and InsurTech Digital These publications are highly regarded by voices within the Financial Sector for their in-depth reports and interviews with prominent figures in the industry.
FinTech Magazine
This month’s edition features an exclusive lead interview with Lloyds Banking Group CIO, Amit Thawani as it undertakes a huge transformation to meet its 27 million customers evolving needs.
“At Lloyds Banking Group it’s all about people. Our people can make a real difference to the UK population who are not prepared for their tomorrow “
The edition also contains extensive interviews with key thought leaders from Coupa, TerraPay and more. Plus the Top 10: Largest Firms involved in Financial Services,
You can visit FinTech Magazine for daily news and analysis of the ever-changing financial industry.
InsurTech Digital
This month’s edition features an exclusive lead interview with Qover CEO Quentin Colmant on how AI will ‘reshape how we create value’
“Each decision has felt monumental, with no guaranteed outcomes, but this unpredictability has been incredibly rewarding”
The edition also contains extensive interviews with key thought leaders from Lloyds Banking Group, Kin Insurance and more. Plus the Top 10: Insurance Products of 2024
You can visit InsurTech Digital for daily news and analysis of the ever-changing financial industry.
About BizClik
BizClik is one of the fastest-growing digital media companies in the UK, host to a growing portfolio of industry-leading global brands and communities.
BizClik’s expanding portfolio includes Technology, AI, FinTech, InsurTech, Supply Chain, Procurement, Energy, Mining, Manufacturing, Healthcare, Mobile, Data Centre, Cyber, and Sustainability.
For more information, please visit our website.
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PARIS, Nov. 4, 2024 /PRNewswire/ — Dechert has advised Poxel (Euronext: POXEL), a clinical-stage biopharmaceutical company, on its non-dilutive financing agreement with OrbiMed for US$50 million. This transaction monetizes a portion of Poxel’s future royalties and sales-based payments from TWYMEEG® sales by Sumitomo Pharma in Japan.
The financing is set to bolster Poxel’s strategic initiatives in rare diseases, reduce its debt and support general corporate purposes. The deal underscores the significant value of TWYMEEG® in Japan and strengthens Poxel’s financial position.
Poxel is listed on Euronext Paris, developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders. OrbiMed is a leading healthcare investment firm dedicated to accelerating innovation in the biopharmaceutical industry.
The Dechert team that advised Poxel includes corporate and securities partners Patrick Lyons and David Rosenthal; global finance partner Privat Vigand; intellectual property partner Olivia Bernardeau-Paupe; global finance partner Sarah Milam; tax partner Sabina Comis; and associates Etienne Bimbeau, Pierre-Emmanuel Floc’h, Chloe Lebret, Julie Lecomte, Vianney Toulouse and Yasmin Yavari.
About Dechert
Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients’ rights in extreme situations. Our nearly 1,000 lawyers across 20 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.
View original content:https://www.prnewswire.co.uk/news-releases/dechert-advises-poxel-on-us50-million-non-dilutive-financing-agreement-with-orbimed-302295559.html
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