It was a packed week for startup and investment news across Asia and India. Record private equity closes, landmark fintech milestones, AI raises, and cross-border fund launches dominated headlines from Singapore to Bengaluru. Here is everything that moved the needle this week.
EQT Closes Record $15.6B Asia-Pacific Private Equity Fund
Global investment firm EQT wrapped up the oversubscribed final close of its BPEA Private Equity Fund IX at $15.6 billion, making it the largest APAC-dedicated private equity fund ever raised. The milestone cements institutional confidence in the Asia-Pacific region as a long-term growth engine for global capital.
Chinese AI Robotics Startup TARS Raises $455M at Pre-A Stage
Beijing-based TARS closed a record-breaking $455 million round at the Pre-A stage — the largest pre-series A raise ever recorded in the region. The capital will go toward scaling its AI robotics technology as China doubles down on humanoid and industrial automation as a national strategic priority.
Philippine Fintech Salmon Secures $100M in Equity and Debt
Manila-based Salmon closed $100 million in combined equity and debt financing to accelerate its next growth phase. The raise reinforces the Philippines as one of Southeast Asia’s most active fintech markets, with digital lending solutions gaining ground among underserved consumers and small businesses.
ESR Launches $235M China Logistics Fund with Insurance Partners
APAC logistics real estate manager ESR established a $235 million China-focused fund in partnership with domestic insurers to acquire logistics assets across the country. The move reflects sustained demand for warehousing and last-mile infrastructure as e-commerce penetration deepens in China’s lower-tier cities.
Indonesia’s Baskit Raises $4.4M to Scale Offline Trade
Cento Ventures led a $4.4 million funding round for Indonesian B2B platform Baskit, which is working to modernize the country’s traditional offline trade ecosystem. With the majority of Indonesian commerce still happening through conventional channels, the startup is targeting a structurally large and underpenetrated market.
IFC Eyes $100M Commitment to Growtheum’s Second Fund
The International Finance Corporation is reportedly considering a $100 million commitment to Singapore-based private equity firm Growtheum’s second fund. If confirmed, it would be a strong endorsement of Southeast Asia’s mid-market growth equity opportunity heading into the second half of 2026.
Golden Gate Ventures Executes $150M Secondary Sale of SE Asia Portfolio
Veteran Southeast Asia VC Golden Gate Ventures is running a secondary transaction to sell stakes across its portfolio at a reported $150 million. The deal reflects a broader push for liquidity by early-vintage funds in the region as the IPO window remains narrow.
Robinhood Gets In-Principle Approval to Launch in Singapore
US fintech platform Robinhood received regulatory clearance to begin offering investment services in Singapore. The move puts it in direct competition with established local and regional brokerages in one of Asia’s most sophisticated financial hubs.
Raisewell Ventures Closes $50M Debut Fund Bridging SE Asia and the US
New fund manager Raisewell Ventures completed its inaugural $50 million raise, targeting startups with cross-border ambitions between Southeast Asia and the United States. The fund addresses a clear gap for founders navigating expansion between the two markets.
Cosaic Raises $6M to Scale Yeast-Derived Emulsifier
Swiss startup Cosaic, reported by a Hong Kong-based publication, closed a $6 million seed extension led by DSM-Firmenich Ventures to scale its yeast-derived emulsifier and advance regulatory approvals in the US and Europe. The raise highlights Asia-based investors increasingly backing deep biotech and food tech innovation.
Andelyn Biosciences and ENCell Form US-APAC Gene Therapy Manufacturing Corridor
US-based Andelyn Biosciences and Korea-based ENCell announced a strategic manufacturing alliance to create a seamless cell and gene therapy production bridge between the United States and the Asia-Pacific region — a significant step for the region’s biopharma ambitions.
Bain Report Flags Exit Bottlenecks Dragging SE Asia PE Deal Value
A Bain & Company report this week highlighted that difficulty executing exits dragged down Southeast Asia’s overall private equity deal value in 2025. Limited IPO windows and compressed valuations remain the key friction points for the region’s PE ecosystem as it heads deeper into 2026.
Finance Sector Set to Dominate Philippines ICT Market Through 2029
GlobalData projects the financial sector will remain the largest consumer of information and communications technology in the Philippines through 2029, signaling continued enterprise tech spending growth driven by digital banking and payments infrastructure.
Sino Land-Led Consortium Pledges $1.7B Investment in Hong Kong’s Northern Metropolis
A Sino Land-led consortium committed US$1.7 billion toward the Kam Sheung Road project within Hong Kong’s Northern Metropolis development zone, marking one of the largest private sector commitments to the city’s major economic expansion initiative.
Online Shopping Boom Sustains E-Commerce Momentum in Malaysia
Major sales events continued to drive strong online transaction volumes in Malaysia this week, with analysts citing steady e-commerce sector growth as digital consumer habits deepen across the country’s urban and suburban markets.
Anthropic’s Mythos AI Model Raising Cybersecurity Concerns in China
Discussions around Anthropic’s latest large language model are generating concern among Chinese policymakers and cybersecurity researchers, with debates emerging around AI risk and the implications of frontier model capabilities for national security policy.
Money20/20 Asia FinTech Conference Underway in Bangkok
The premier Asia-Pacific fintech event, Money20/20 Asia, ran from April 21 to 23 in Bangkok, bringing together banks, payments companies, and investors from across the region to discuss the next phase of financial services innovation.
BlackRock and JPMorgan Retain Top Fund Brand Status in APAC for Fifth Year
The 2026 Broadridge Fund Brand 50 rankings confirmed that BlackRock and JPMorgan Asset Management remain the top fund brands in the APAC region for the fifth consecutive year, buoyed by the continued rise of ETF adoption across the region.
India: PhonePe Becomes First UPI App to Cross 10 Billion Monthly Transactions
Walmart-backed PhonePe hit a landmark milestone this week, becoming the first UPI platform in India to surpass 10 billion monthly transactions. The achievement cements its position as the dominant player in India’s digital payments infrastructure.
India: Sarvam AI in Talks for $320–350M Round at $1.5B Valuation
Bengaluru-based foundational AI model startup Sarvam AI is reportedly in advanced discussions with US-based growth equity firm Glade Brook Capital for a $320–350 million raise that could value the company at $1.5 billion. It would rank among the largest rounds ever for a homegrown Indian AI company.
India: KRAFTON and Naver Launch ₹6,000 Crore India Unicorn Growth Fund
South Korean tech giants KRAFTON and Naver partnered with Mirae Asset Venture Investments to launch a fund targeting India’s next decade of technology growth. The ₹6,000 crore vehicle signals sustained Korean corporate confidence in India’s startup ecosystem.
India: NudgeBee Raises $3M for Enterprise Cloud Automation
Pune-based agentic AI platform NudgeBee closed a $3 million round led by Kalaari Capital to scale its enterprise cloud operations automation product. The startup is part of a growing wave of Indian B2B AI companies replacing manual DevOps and IT workflows.
India: Textile Tech Startup STCH Raises $5.5M Pre-Series A
Bengaluru-based STCH secured $5.5 million led by Omnivore and Kae Capital to advance its AI-driven fabric research and manufacturing technology. The raise is notable for bringing institutional capital into India’s often-overlooked textile technology segment.
India: Amazon Commits Rs 2,800 Crore to India Operations
Amazon announced a significant Rs 2,800 crore investment in expanding its fulfillment and logistics network across India, while also directing funds toward improving associate benefits and working conditions at its Indian operations centers.
India: Deep Algorithm Raises Rs 16 Crore for AI Cybersecurity
AI cybersecurity startup Deep Algorithm closed a Rs 16 crore round from Unicorn India Ventures to accelerate the development of its artificial intelligence-powered security solutions — a segment seeing rising demand as enterprise threat landscapes grow more complex.
India: LightFury Games Raises $11M Backed by Dhoni, Pandya, and Bumrah
Gaming studio LightFury Games secured $11 million in funding with notable backing from Indian cricket icons MS Dhoni, Hardik Pandya, and Jasprit Bumrah. The investment reflects cricket’s growing crossover into India’s consumer tech and gaming investment ecosystem.
India: Spill Games Raises $3.1M to Build Global Mobile Gaming Company
Spill Games secured $3.1 million to accelerate its global expansion from an India base, adding to a string of early-stage gaming raises that suggest renewed investor appetite for mobile-first gaming studios built out of the country.
India: Rainmatter Backs Wealth Tech Platform PrimeInvestor
Zerodha-backed Rainmatter led a roughly $2 million (Rs 19.5 crore) round into wealth-tech platform PrimeInvestor — the startup’s first external funding — to help expand its portfolio management and investment research services.
India: CureMeAbroad Raises $600K Pre-Seed for Medical Tourism
Medical tourism discovery platform CureMeAbroad raised a pre-seed round from investors including Roman Saini and Kunal Gupta. The platform connects patients with overseas healthcare options, tapping into India’s growing outbound medical tourism demand.
India: Lawyered Secures $2.5M from Rainmatter and Turbostart
Legal tech platform Lawyered closed a $2.5 million investment from Zerodha-backed Rainmatter and Turbostart to develop its legal technology services further — part of a quiet but steady rise of legaltech investment in the Indian market.
India: Shadowfax Launches ‘Shadowfax 360’ for SMEs and D2C Brands
Logistics firm Shadowfax introduced its integrated ‘Shadowfax 360’ platform this week, built specifically to streamline end-to-end shipping and logistics for small businesses and direct-to-consumer brands operating in India’s competitive e-commerce market.
India: Sarvam AI and Partners Eye ₹300 Crore Defence AI Centre of Excellence
Sarvam AI is in active discussions with India’s Ministry of Defence to establish a dedicated AI Centre of Excellence focused on developing defence-specific artificial intelligence applications — a significant step toward indigenizing AI capabilities for national security.
India: Zerodha Shuts Down Creator-Led Zero1 Initiative
Zerodha wound down its creator content network Zero1, citing regulatory uncertainty as the primary reason. All content operations have been moved in-house, reflecting the broader challenge Indian fintech platforms face in operating hybrid media and financial services models under current regulations.
