Thu, Mar 28, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Asian firms occupy top five venture capital-funded emerging tech companies in 2019

Wednesday, February 26, 2020

Laxman Pai, Opalesque Asia:

All the top five venture capital (VC) funded companies in the global emerging tech space in 2019 were from the Asia-Pacific (APAC) region.

According to GlobalData compilation, among the top five, Chinese and Indian companies occupied two positions each while a Singaporean company also featured in the list.

"Over the past few years, companies in the APAC region have been making news in the field of technology, with some of them also moving ahead to become global players. Now, with VC funding support, tech start-ups in the region can overcome the financial hurdles and be at the forefront of technology innovation," said Aurojyoti Bose, Lead Analyst at GlobalData.

The report said that the two Chinese firms, Tenglong Holding Co Ltd (Tenglong Holding) and Beijing Kuaishou Technology Ltd. (Kuaishou Technology), collectively raised US$6.7bn during 2019.

While Tenglong Holding is active in data centers space with services focused on big data, cloud, and Internet of Things (IoT), Kuaishou Technology is a video sharing app.

Singapore-based Grab Holdings (Grab), which offers ride-hailing transport services, secured the third position. The company also offers payment and food delivery services.

The two Indian firms, Oravel Stays Private Limited (OYO) and One97 Communications Ltd. (One97), collectively raised US$3.2bn during the year. While OYO is an online aggregator of hotels, One97 is a payment solution provider.

Bose concluded: "These tech start-ups, with most of them not even a decade old, have grown to become big names in the respective domains they operate in. Moreover, with ongoing tech innovation and further backed by VC investments, Asia-Pacific companies are expected to further mark their presence in the global arena in a much stronger way in the future."

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1