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No-code startups, PE in Asia and the Nasdaq whale

Hi there, welcome to issue #2 of CapLetter. Each week I curate news, inspiration and knowledge from the alternative investment world with a focus on Private Equity and Venture Capital. This week we cover no-code startups, PE opportunities in Asia, SoftBank and more.

September 10, 2020

TOP STORY

How one VC firm wound up with no-code startups as part of its investing thesis

Techcrunch’s Alex Wilhelm talks to Accel partner Arun Matthew how a couple of investments in no-code startups lead to a ‘real investment thesis’ and a dedicated team covering the no-code space.
Techcrunch

NEWS

DNX Ventures: $315 million fund for Japanese and U.S. startups

DNX Ventures announced the close of their third fund at $315 million. DNX invests in B2B startups in Japan and the U.S. The fund has 30+ LPs, including banks, financial service providers and investment houses. DNX has been founded in 2011 and has over 100 investments and 13 exits so far.

Fintech Mondeo (formerly Kreditech) files for bankruptcy

The Hamburg-based credit platform Monedo is insolvent. This marks the failure of an attempt to revive the once largest German Fintech. The start-up started in 2012 under the name Kreditech and granted small loans at extremely high interest rates – for which the company was repeatedly criticized. According to the management, financing problems caused by the Corona crisis have made the step to filing for insolvency necessary.

Mollie turns into a unicorn

The Dutch payment service provider Mollie was valued at over one billion euros in the last financing round. For the start-up it is only the second financing round ever, which flushed 90 million euros into the company’s coffers. The round was led by venture investor TCV, which has also invested in Facebook, Netflix and Airbnb in the past. Mollie processes payments for online vendors and offers a particularly simple system.

KKR may invest $1+ billion in Reliance Retail

According to people familiar with the matter, KKR is in advanced talks to take a stake in Reliance Retail, a unit of India’s largest retailer. Reliance Retail Ventures Pty Ltd. operates supermarkets, consumer electronics chain stores, a cash and carry wholesaler and an online supermarket. It is said that KKR could invest up to $1.5 billion. This would make KKR follow the investor Silver Lake, who only on Wednesday announced an investment of $1 billion in Reliance Retail.

GI Partners closes $1.8B digital infrastructure fund

Privat investment company GI Partners announced the closing of their Data Infrastructure Fund at $1.8 billion. The fund was oversubscribed and had an initial target of $1.25 billion. “A core thesis of our Fund is to invest in elements of infrastructure closer to the end-user that will support both existing needs, as well as the next generation of critical applications utilising 5G technology, private networks, the Internet of Things, machine learning, and other innovations,” says Mark Prybutok, managing director at GI Partners.

Good Reads

SoftBank unmasked as ‘Nasdaq whale’ that stoked tech rally

This article goes into detail how the Japanese tech investor SoftBank fuelled the recent tech rally by buying options worth billions of dollars. A dangerous shift by the investment house which has previously invested heavily in tech startups.
Financial Times

Private Equity in Asia: Powering the global growth engine

Moonfare, a startup that enables private investors to access first-class private equity funds, recently published a white paper about the Asian PE market. The white paper provides an in-depth look about demographic trends leading to value creation and how investors can get involved.
Moonfare (pdf)

Investing for the long run. A twitter thread.

While we are all busy with the private markets, it’s sometimes hard to make time for simple, traditional long-term investments for our (unborn) children. Tiho Brkan who manages his family’s wealth and mostly invests in real estate, gives an quick and easy approach to personal investing for the long run.
Thread Reader App

Wrapping it up

That’s it for today! I If you enjoy reading this, please share it with someone who’d be interested. Oh, and please follow CapLetter on Twitter!

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– Vasco

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