Alta Views: Latest scoop from Private Capital Markets
Alta (formerly Fundnel)
Alternative assets for all | Digital Exchange | Fund Management | Private Capital Markets
We’re back with the latest edition of Alta Views, and on a new platform (we’re on LinkedIn now!). With a lens on the latest in Southeast Asian e-commerce businesses - in this edition, we also look at the development of the EV sector in Indonesia and surprisingly strong performers in private markets. Also, why cybersecurity is a great business in a time of crisis.
1. Lazada receives a fresh US$342.5 million injection from Alibaba, bringing its total Lazada investment above US$1.6 billion in 2022 alone
Lazada has received another US$342.5 million in funding, issuing close to 200 million new ordinary shares to its parent company Alibaba Singapore, and brings Alibaba’s total investment in the e-commerce giant to US$1.68 billion in this year alone. The funding comes on the back of Lazada’s higher losses and decreases in revenue in FY2021 amidst a difficult period for the global tech industry that has witnessed a rampant layoff spree. Alibaba doubling down on its investment in Lazada is a testament to the long-term growth potential of the Southeast Asian e-commerce scene despite its current predicament
Despite the ongoing gloomy period for the industry, as technological adoption continues to increase throughout Southeast Asia, with a smartphone penetration expected to reach an estimated 90.1% by 2026, Southeast Asian e-commerce has a long-term future and will continue to grow as society becomes more digital-oriented.
2. ?Some outliers in private markets maintain their valuations, despite a private market drawdown
With uncertain market conditions and a rising interest rate environment, certain institutional investors have started to mark down valuations of private companies outlined in the chart on the right. The drawdown particularly hit consumer goods companies such as Instacart and Gopuff , both discounted at an estimate of 60% and 50% respectively from the last private rounds.
Resisting the trend, Epic Games and SpaceX were observed to be marked at a par-to-last round, and consistently able to raise capital.
3. Indonesia Receives US$20B in Funding to Help Improve the Development of its EV Supply Chain
With a fifth of global reserves of nickel, Indonesia’s goal to become an EV battery producer and exporter is motivated by both the upstream and downstream sides of the supply chain.? The country’s most radical push is its export ban on unprocessed nickel ore, forcing foreign companies to set up processing plants and with the Just Energy Transition Partnership (JETP), Indonesia will further add to its investments, more notably in the development of greener power sources.?
Asian technology and automotive giants such as 富士康 and Hyundai Motor Company (?????) have already launched joint-venture and partnership plants, as well as securing international players such as Tesla to strike long-term deals for a nickel.?With local and international interest, investors can expect more companies to establish their positions around the EV and renewable energy industry.
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?? About Alta Views
Alta Views: The latest scoop on the Private Capital Market
A fortnightly digest of insights to help you navigate the world of alternative investments. Private equity news, notable fundraises, analysis of industries and companies trending within investor networks, the latest headlines, and much more!
??About Alta Group
“Alta is Southeast Asia’s largest digital marketplace for alternative investments.” Alta gives investors direct access to invest and trade in a wide range of curated alternative assets, from direct investment into early to late-stage private companies, PE/VC funds, asset-backed securities of luxury assets, real estate, and more.
As a licensed integrated marketplace, Alta brings the trading and distribution of securities, fund management, and payment solutions under one roof. Through its blockchain-powered exchange, Alta is also able to support tokenization, digital custody, and trading of alternative assets.
Alta is headquartered in Singapore and operates offices globally.
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