Point72 sees Apac business development head exit; Value Partners loses new COO; William Blair opens Singapore office; NZ Super adds new board member; Bursa Malaysia appoints former Kwap CEO; Eastspring names new Thailand CEO; Capital Group names product head for Asia and Europe; Neuberger appoints first official institutions head, and more.
Softbank is the venture capital arm of JapanÆs SBI Holdings Inc. This investment represents SoftbankÆs first and currently only India fund. SBI Capital Markets is the investment banking subsidiary of IndiaÆs largest bank, the State Bank of India. This is the first foray of the State Bank of India Group into venture capital investing.
Softbank currently manages 18 other venture funds across sectors and geographies, including a recent collaboration with Singapore's Temasek Holdings focused on China. Softbank has successful investments like Yahoo! and E*trade to its credit.
State Bank of India 's Chairman, OP Bhatt, described the alliance as "a small but significant step towards creating and nurturing knowledge-based industries in India.ö
Softbank CEO, Yoshitaka Kitao suggested further India plans are planned. He stated: ôOur fund with SBI CAP is only a first step in a well-planned strategy to partner with leading financial services companies and deliver creative financial products focused on India. We will soon be making some important û even historic - long-term announcements about our comprehensive India strategy."
Venture capital investing has seen a resurgence in India in the recent past. It is fuelled by the number of entrepreneurs with bankable business propositions in spaces where India enjoys a competitive advantage - for example BPO.
The US state's biggest retirement fund has nearly trebled its target allocation to private credit and is adding private equity and real assets too. It is also eyeing other ways to boost returns.
AsianInvestor gained the views of GSAM chairman Sheila Patel on how Asian investing has changed, and why she hopes to see more definitive investment flows into the region.
Deal sourcing and origination of infrastructure assets have been affected by the pandemic, but the Canadian public pension fund was able to close some transactions.
AsianInvestor spoke to Mark Browning, head of Asia for Franklin Templeton, shortly before his departure from the fund house, about how fund management has changed in 20 years.