The Weekly

The Weekly by CapitalNetwork delivers a recap of the latest news in Southeast Asia's private equity, venture capital, and M&A markets. Join us to make sure you don’t miss our next briefing.

M&A Deals

• Jollibee Foods Corporation has acquired a 70% stake in Moon Moon Food, a renowned Taiwanese wellness soup brand, for $3.17 million through its subsidiary Milksha. Moon Moon Food, which has earned Michelin Bib Gourmand recognition for seven straight years, currently operates 13 outlets in Taiwan and one in Singapore, with founder Yung-Cheng Lai retaining a 30% stake. As part of the integration, Moon Moon Food will be incorporated into Milksha's portfolio, with Jollibee absorbing 51% of the acquisition impact, while Milksha plans to use Moon Moon Food's resources to strengthen its position in Taiwan's tea market. The Philippine Daily Inquirer has more here.
• Zuellig Pharma, a major Asian healthcare services provider, has acquired the Filipino multivitamin brand Propan from ADP Pharma Corporation for an undisclosed sum, strengthening its presence in the consumer healthcare market. The acquisition of Propan, which Zuellig has been distributing since 2018, demonstrates the company's commitment to expanding its footprint in the Philippines, where its parent company Zuellig Group has operated since 1922. Marketing Interactive has more here.

Private Equity

• Creador, a Malaysia-based private equity firm, has acquired a majority stake in MG Group, an Indonesian B2B hospitality marketplace, marking its entry into the global travel sector. Founded in 2000, MG Group has established itself as a significant player in Southeast Asia's hospitality industry, connecting over 8,000 accommodation seekers with more than 350,000 providers through its microservices-based platform, MG Jarvis. The investment comes at a time when Southeast Asia's travel sector is experiencing strong post-pandemic recovery, driven by a growing middle class and increasing numbers of new travelers. This acquisition represents Creador's eleventh investment in Indonesia since 2011, with the firm currently raising its sixth fund targeting $750-800 million for investments across the Indo-Pacific region. Skift has more here.
• Singapore-headquartered Digital Edge has raised over $1.6 billion in fresh equity and debt capital to expand its data center operations across Asia. The funding includes approximately $640 million in equity from new and existing investors and $1 billion in debt financing, with commitments from major institutional investors and sovereign wealth funds. Digital Edge operates 21 data centers delivering 500 MW of IT load and has 300 MW in development across key markets like Japan, Korea, India, and Indonesia. The funding will accelerate its expansion to support growing demand for cloud, AI, and interconnection infrastructure, reflecting a broader surge in data center financing in Asia. PR Newswire has more here.
• The Emerging Africa & Asia Infrastructure Fund (EAAIF) has invested $20 million in Vietnam's CME Solar to support rooftop solar projects, which is expected to help the company reach over 260 MWp of projects. While Vietnam currently relies heavily on coal power (45% of energy supply), the country aims to increase renewable energy to 39.2% by 2030 and achieve net-zero emissions by 2050. The investment represents EAAIF's second transaction in Asia and is expected to help mainstream renewable energy technologies in Vietnam's manufacturing sector, with CME Solar having established partnerships with notable companies including Sumitomo Forestry and Samsung C&T through Vista Global. TechNode Global has more here.

Venture Capital

• Soul Parking, an Indonesian parking management service provider, has secured a Series A extension round co-led by AppWorks and AC Ventures, with participation from several other investors including Taiwan Mobile and USPACE. Founded in 2015, the company has modernized Indonesia's parking industry through digital solutions like its Compact Motorcycle Storage system and Soul Parking Operating System, serving over 2 million vehicles and processing 20 million transactions annually across various facilities. The fresh funding will be used to expand its market coverage, explore electric vehicle opportunities, and enhance its team, while continuing to offer solutions that can increase parking capacity up to eight times compared to traditional options. Tech In Asia has more here.
• Singapore-based Xnergy Autonomous Power Technologies, a wireless charging technology developer founded in 2018, has received investment from Korean firm Woori Venture Partners for an undisclosed amount. Xnergy, which has previously secured funding from Hyundai Motor Group and Accuron Technologies, has deployed over 2,000 charging modules for electric vehicles and autonomous robots across 40 countries, offering solutions ranging from 3-9kW systems for mobile robots to 22kW systems for EVs. The funding will support Xnergy's expansion into new sectors and regions, with the company's CTO Hu Xiaolei noting that the investment validates their technology's potential to transform autonomous electrified mobility. AsiaTechDaily has more here.
• Indonesian startup HiFeed has secured pre-seed funding from Wavemaker Impact to develop solutions for reducing environmental impact in cattle farming, which currently accounts for 9% of global greenhouse gas emissions. The startup aims to cut methane emissions, improve feed efficiency, and make decarbonization profitable for farmers, with early pilot projects showing promising results in lowering feed costs and improving cattle growth rates. The investment comes from Wavemaker Impact's $60 million climate tech venture builder fund, which focuses on major emission drivers in Southeast Asia including agriculture, energy, and transport. TechNode Global has more here.
• Indonesian culinary marketplace bukaPO has secured late seed funding led by Bali Investment Club and elea Foundation, aiming to achieve profitability within the next year. Founded in 2020, bukaPO has enabled over 4,000 home chefs, mostly women, to generate more than $10 million in revenue through its pre-ordering platform that connects home-based culinary businesses with individual consumers and corporate clients like Sofitel and Club Med. The new funding will be used to accelerate B2C adoption, enhance platform technology, and expand bukaPO's reach beyond its current operations in Bali, Surabaya, and Sidoarjo, while continuing to provide education and financial literacy training to its microentrepreneur community. DealStreetAsia has more here.

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