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SEA Investment market trend (April.2019 ~ June.2019)

1. Quadria Capital prepares to list Indonesia’s Soho Global Health in 2019

Singapore-based healthcare-focused private equity firm Quadria Capital is preparing to list its Indonesian pharmaceutical company Soho Global Health in the local stock exchange in 2019

 

Quadria had invested in Soho in March 2015, which was its first investment in Indonesia, and the second announced investment from its earlier vehicle – Quadria Capital Fund LP – according to its press statement. Quadria has not disclosed the amount it has invested in Soho, nor the number of shares it owns in the Indonesian pharmaceutical company. However, according to Quadria’s 2017 annual review, the PE firm distributed 10.9% of its total $350-million fund into Soho. Soho, which is Indonesia’s fourth largest pharmaceutical company, produces generics, natural medicines, medical devices and consumer products. Soho’s marketing and distribution network covers 95% of hospitals and pharmacies throughout Indonesia. The company booked 76% of EBITDA growth in 2017.
The IPO plan of Soho could offer Quadria an exit on its investment although the PE firm has not confirmed whether it plans to go for a complete exit.

 

Resources: Quadria Capital prepares to list Indonesia’s Soho Global Health in 2019 <Deal street Asia> 2019.06.12

 

2.  SG’s Lifetrack Medical Systems secures $5.2m in Series A round

Singapore-based healthtech startup, Lifetrack Medical Systems, has secured $5.2 million in Series A funding to develop its medical imaging technology and scale its growth. The round was led by UOB Venture Management (UOBVM) through its Asia Impact Investment Fund (AIIF). Other participating investors include Philips and Kickstart Ventures, a corporate venture capital firm from the Philippines.

AIIF is the fund that supports growth companies in Southeast Asia and China that address key social challenges and improve the lives of those in low income communities.

Lifetrack’s platform, LifeSysTM, rapidly transmits and aggregates medical images from multiple sites. This is possible even from rural areas, allowing Lifetrack to provide access to diagnostic imaging in less developed countries.

 

Resources: SG’s Lifetrack Medical Systems secures $5.2m in Series A round <Deal street Asia > 2019.04.25

 

3.  UOB’s PE arm raising $500m for Asean China Investment Fund IV

Singapore-based UOB Group’s private equity unit is raising $500 million for its fourth vehicle, Asean China Investment Fund IV, a strategy from the local banker that came to life in early 2000’s to invest in small and medium sized companies in Southeast Asia and China.

 

The first fund in the series had come into the market at a time when the ASEAN region was accelerating implementation of the free trade area agreement while actively pursuing regional cooperation and economic integration with various Asian countries, foremost with China.

 

Among other prominent previous backers of fund include Swiss government’s State Secretariat for Economic Affairs (SECO), UOB Group itself and China Development Bank (CDB).

Earlier in March, Indonesian healthtech platform Halodoc had secured a Series B funding worth $65 million from UOB Venture Management.

 

Resources: UOB’s PE arm raising $500m for Asean China Investment Fund IV <Deal street Asia> 2019.06.07

 

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