DOCSLIB.ORG

Emerging Asia Data Insight 1H 2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

Emerging Asia Data Insight 1H 2017 Kevin R. Horvath KKR Asian Fund III closed with US$9.3 billion in capital commitments in June 2017, only months after its US$5.8 billion Research Analyst first close in March. The fund accounted for 56% of the US$17 billion raised for Emerging Asia in 1H 2017 and is the largest [email protected] fund raised for emerging markets on record. The monumental fund close was not the only milestone reached in the region this year; GPs also deployed US$15 billion in the first half of 2017, the highest half-year total on record. While the number +1. 202.524.610 4 of investments completed were on par with previous half-year totals, large deals dominated the investment landscape, especially in China and South Korea. Overall, GPs completed 13 deals exceeding US$300 million in size across growth, buyout, PIPE and venture capital strategies. Larger funds and deals reflect the maturity of the private capital market in FOR MEMBERS ONLY Emerging Asia, but development is concentrated in China, India and South Korea. Conversely, GPs deployed only US$896 million in Southeast Asia, a 51% year-on-year decrease. This dip reflects an inconsistency in investor outlook for Southeast Asia, in part due to the struggle to convey a compelling regional story tying together its diverse markets. Update to Methodology: Afghanistan and Pakistan are now included in Emerging Asia, rather than MENA, regional totals. Unless otherwise specified, EMPEA’s data and statistics include private equity, private credit, infrastructure and real assets. Capital invested in 1H 2017 increased 45% from 1H 2016, Total capital invested reached US$8.4 billion in Q2 2017, while fundraising increased 29% over the same period the highest quarterly total recorded by EMPEA Emerging Asia Fundraising and Investment, 2013-1H 2017 Emerging Asia Investment by Quarter, Q3 2015-Q2 2017 $40 37 $10 400 34 35 326 324 322 307 32 $8 288 302 289 28 300 $30 262 No. of Deals 26 243 $6 219 220 210 216 22 198 186 194 $20 19 200 17 15 $4 US$ Billions US$ US$ Billions US$ 100 $2 $10 18 15 14 10 12 13 10 6.7 5.8 4.7 5.7 7.0 4.9 6.7 8.4 8.3 $0 0 $0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2013 2014 2015 2016 1H 2017 2015 2016 2017 n Funds Raised n Capital Invested 1H n Capital Invested -n- Total No. of Deals -l- No. of VC Deals KKR Asian Fund III is the largest fund raised for Emerging Pan-Asia funds, led by KKR Asian Fund III, accounted Asia on record, reaching US$9.3 billion in commitments for 62% of capital raised in 1H 2017 Emerging Asia Largest Funds Raised, 2006-1H 2017 Emerging Asia Fundraising by Geographic Focus, 2013-1H 2017 100% 7% 7% 8% 19% 7% KKR Asian Fund III 10% 7% 80% 8% 14% 11% 28% KKR Asian Fund II 34% 60% 38% 31% RRJ Capital Master Fund III 40% 61% 62% CVC Capital Partners Asia Pacific III 47% 43% % of Total Capital Raised 20% 37% MBK Partners IV 0% 7% 2013 2014 2015 2016 1H 2017 $0 $2 $4 $6 $8 $10 US$ Billions n Pan-Asia n China n India n Southeast Asia n Other Investments over US$300 million in size accounted Capital invested in China and South Korea in 1H 2017 for 53% of all capital invested in 1H 2017 is on par with 2016 full-year totals Emerging Asia Investment by Size, 2014-1H 2017 Emerging Asia Investment for Select Countries, 2H 2015-1H 2017 100% 10 10% 12% 11% 10% 8.4 7% 80% 11% 12% 8% 8 15% 11% 13% 12% 60% 6 13% 5.1 5.0 30% 26% 4.1 40% 37% 4 3.4 3.4 US$ Billions US$ 3.2 2.9 2.9 2.5 53% 1.9 20% 2 % of Total Capital Invested 34% 33% 22% 0.9 0% 0 2014 2015 2016 1H 2017 China India South Korea US$m n 300+ n 100-299 n 50-99 n 25-49 n 10-24 n <10 n 2H 2015 n 1H 2016 n 2H 2016 n 1H 2017 Click to download exhibits in Excel. © EMPEA August 2017. All rights reserved. Largest Emerging Asia Funds Achieving a Close, 1H 2017 Capital Raised, Capital Raised to Fund Manager(s) Fund Name Fund Type Geographic Focus Currency 1H 2017 (US$m) Date (US$m) KKR KKR Asian Fund III Buyout Asia USD 9,300 9,300 CITIC Capital China Partners III CITIC Capital Partners Buyout China USD N/A 1,575 (USD) Sequoia Capital Sequoia Capital India IV Venture Capital India USD 110 850 ChrysCapital ChrysCapital VII Growth India USD 250 600 CMC Capital Partners CMC Capital Partners II Growth China USD 153 600 VIG Partners VIG Partners III Buyout South Korea USD 120 600 CGN Private Equity Fund Management CGN Capital Partners Fund III Infrastructure China CNY 57 563 *Fundraising as of 30 June 2017. Most Active VC Dealmakers in Emerging Asia, 1H 2017 Most Active Private Capital (excl. VC) Dealmakers in Emerging Asia, 1H 2017 Fund Manager(s) No. of Deals Matrix Partners 37 Fund Manager(s) No. of Deals Sequoia Capital 28 Sequoia Capital 9 500 Startups 27 Aavishkaar Venture Management 8 IDG Capital Partners (IDGVC), Legend Capital, Trifecta Capital Shunwei Capital Partners 21 6 Partners Zhenfund 18 BanyanTree Finance, KKR 5 Qiming Venture Partners 14 Note: ‘Private Capital (excl. VC)’ includes private equity growth and buyout, private infrastructure and Note: VC includes seed, early-stage and late-stage transactions. private credit investments. Largest Investments in Emerging Asia, 1H 2017 Investment Investment Investment Fund Manager(s) Company Name Country ICB† Sector Type Amount (US$m) Date PAG Yingde Gases China Chemicals Buyout 1,430 May-17 Silver Lake, CDH Investments, Primavera Capital Koubei China General Retailers Growth 1,100 Jan-17 Management, Yunfeng Capital Bain Capital Hugel South Korea Pharmaceuticals & Biotechnology Buyout 831 Jun-17 Hillhouse Capital Management, Boyu Capital, CMC Capital Partners, IDG Capital Partners (IDGVC), iQiyi China Media Growth 790 Feb-17 Sequoia Capital, Xiang He Capital KKR Bharti Infratel India Mobile Telecommunications PIPE 654 Mar-17 MBK Partners Modern House South Korea General Retailers Buyout 624 May-17 DST Global, Atomico, CITIC Private Equity Funds Ofo China Travel & Leisure Venture Capital 450 Mar-17 Management, Matrix Partners TPG Kakao Mobility South Korea General Retailers Buyout 437 Jun-17 Notable Exits and IPOs in Emerging Asia, 1H 2017 Year(s) of Capital Invested Transaction Country Company Name Fund Manager(s) ICB† Sector Investment (US$m) Date Exit and Return Detail Strategic sale to Avery Dennison totaling Household Goods & China Yongle Tape ShawKwei & Partners 2012 49 Jun-17 US$262m, including an initial payment of Home Construction US$205m and a cash dividend of US$57m Share sale of 25% stake on Bombay Stock India Capital First Warburg Pincus Financial Services 2012, 2014 73 May-17 Exchange generated reported return of INR 17.7B (US$276m) IPO on Korea Stock Exchange raised KRW1.1T South Korea ING Life Korea MBK Partners Life Insurance 2013 830 May-17 (US$974m); entire 31% stake sold via IPO held by MBK Daesung Industrial Goldman Sachs Merchant Secondary sale of 60% stake to MBK Partners South Korea Chemicals 2014 400 Apr-17 Gases Banking Division (MBD) for KRW532B (US$476m) Management buyout generated INR5.25B India CavinKare ChrysCapital Consumer Goods 2013 44 Mar-17 (US$79m) Pactera Technology Software & Computer China The Blackstone Group 2014 240 Jan-17 Stategic sale to HNA EcoTech for US$675m International Services † The Industry Classification Benchmark (“ICB”) is owned by FTSE International Limited (“FTSE”). “FTSE®” is a trademark of the London Stock Exchange Group companies and is used by FTSE under license. FTSE does not accept any liability to any person for any loss or damage arising out of any error or omission in the ICB. Visit the ICB website for more details. 2600 Virginia Avenue NW • Suite 500 • Washington, DC 20037 USA Phone: +1.202.333.8171 • Fax: +1.202.333.3162 • Web: empea.org © EMPEA.
Recommended publications
  • Corporate Venturing Report 2019

    Corporate Venturing Report 2019

    Corporate Venturing 2019 Report SUMMIT@RSM All Rights Reserved. Copyright © 2019. Created by Joshua Eckblad, Academic Researcher at TiSEM in The Netherlands. 2 TABLE OF CONTENTS LEAD AUTHORS 03 Forewords Joshua G. Eckblad 06 All Investors In External Startups [email protected] 21 Corporate VC Investors https://www.corporateventuringresearch.org/ 38 Accelerator Investors CentER PhD Candidate, Department of Management 43 2018 Global Startup Fundraising Survey (Our Results) Tilburg School of Economics and Management (TiSEM) Tilburg University, The Netherlands 56 2019 Global Startup Fundraising Survey (Please Distribute) Dr. Tobias Gutmann [email protected] https://www.corporateventuringresearch.org/ LEGAL DISCLAIMER Post-Doctoral Researcher Dr. Ing. h.c. F. Porsche AG Chair of Strategic Management and Digital Entrepreneurship The information contained herein is for the prospects of specific companies. While HHL Leipzig Graduate School of Management, Germany general guidance on matters of interest, and every attempt has been made to ensure that intended for the personal use of the reader the information contained in this report has only. The analyses and conclusions are been obtained and arranged with due care, Christian Lindener based on publicly available information, Wayra is not responsible for any Pitchbook, CBInsights and information inaccuracies, errors or omissions contained [email protected] provided in the course of recent surveys in or relating to, this information. No Managing Director with a sample of startups and corporate information herein may be replicated Wayra Germany firms. without prior consent by Wayra. Wayra Germany GmbH (“Wayra”) accepts no Wayra Germany GmbH liability for any actions taken as response Kaufingerstraße 15 hereto.
  • PEI June2020 PEI300.Pdf

    PEI June2020 PEI300.Pdf

    Cover story 20 Private Equity International • June 2020 Cover story Better capitalised than ever Page 22 The Top 10 over the decade Page 24 A decade that changed PE Page 27 LPs share dealmaking burden Page 28 Testing the value creation story Page 30 Investing responsibly Page 32 The state of private credit Page 34 Industry sweet spots Page 36 A liquid asset class Page 38 The PEI 300 by the numbers Page 40 June 2020 • Private Equity International 21 Cover story An industry better capitalised than ever With almost $2trn raised between them in the last five years, this year’s PEI 300 are armed and ready for the post-coronavirus rebuild, writes Isobel Markham nnual fundraising mega-funds ahead of the competition. crisis it’s better to be backed by a pri- figures go some way And Blackstone isn’t the only firm to vate equity firm, particularly and to towards painting a up the ante. The top 10 is around $30 the extent that it is able and prepared picture of just how billion larger than last year’s, the top to support these companies, which of much capital is in the 50 has broken the $1 trillion mark for course we are,” he says. hands of private equi- the first time, and the entire PEI 300 “The businesses that we own at Aty managers, but the ebbs and flows of has amassed $1.988 trillion. That’s the Blackstone that are directly affected the fundraising cycle often leave that same as Italy’s GDP. Firms now need by the pandemic, [such as] Merlin, picture incomplete.
  • Supplementary Data Supplementary Data 1

    Supplementary Data Supplementary Data 1

    Building Long-term Wealth by Investing in Private Companies Annual Report and Accounts 12 Months to 31 January 2021 Supplementary Data Supplementary Data 1 HVPE’s HarbourVest Fund Investments at 31 January 2021 HVPE’s HarbourVest Fund investments and secondary co-investments are profiled below. Financial information at 31 January 2021 for each fund is provided in the Financial Statements of the Company’s Annual Report and Accounts on pages 79 to 82. V = Venture, B = Buyout, O = Other, P = Primary, S = Secondary, D = Direct Co-investment HarbourVest Fund Phase Vintage Year Stage Geography Strategy Investment Phase HIPEP IX Partnership Fund Investment 2020 V, B EUR, AP, RoW P, S, D Secondary Overflow Fund IV Investment 2020 V, B Global S 2020 Global Fund Investment 2020 V, B, O Global P, S, D HarbourVest Real Assets IV Investment 2019 O Global S HarbourVest Credit Opportunities Fund II Investment 2019 O US D Dover Street X Investment 2019 V, B Global S HarbourVest 2019 Global Fund Investment 2019 V, B, O Global P, S, D HarbourVest Partners Co-Investment V Investment 2018 V, B, O Global D HarbourVest Adelaide Investment 2018 O US, EUR, RoW S, D HarbourVest 2018 Global Fund Investment 2018 V, B, O Global P, S, D HarbourVest Partners XI Venture Investment 2018 V US P, S, D HarbourVest Partners XI Micro Buyout Investment 2018 B US P, S, D HarbourVest Partners XI Buyout Investment 2018 B US P, S, D HIPEP VIII Asia Pacific Fund Investment 2017 V, B AP P, S, D HarbourVest 2017 Global Fund Investment 2017 V, B, O Global P, S, D HIPEP VIII Partnership
  • Home-Coming for Venture Capital

    Home-Coming for Venture Capital

    https://telegram.me/TheHindu_Zone https://telegram.me/PDF4EXAMS Power of Ideas 21 WWW.ECONOMICTIMES.COM Home-coming for Venture Capital An increasing number of fund managers now look up to India’s home-grown Fund of Funds for venture capital, SIDBI, ushering in a silent revolution for an industry that has been largely dependent on foreign capital, says Taslima Khan round June last year, entre- wherein they declare the size of the fund, preneur-turned-venture areas they would be investing in, time- capitalist Manish Singhal lines they will follow for investments, First-Time Fund Managers Backed by SIDBI in the was looking to raise his terms for managing the fund, and the Past One Year (From a Total of 17 Funds) first venture fund, and he returns they would expect. Proposals thought it was the toughest are then vetted by the Venture Capital PI VENTURES `192 crore UNICORN INDIA VENTURES task he had ever under- Investment Committee, or VCIC, which FUND I ` taken. Singhal had earlier co-founded includes Naukri Founder Sanjeev early-stage, deep-technology fund 100 crore fund focused on seed-, Astartup financing platform Letsventure. Bhikchandani, IAN cofounder Saurabh focused on artifi cial intelligence, early-, and growth-stage companies in social As he searched far and wide for investors Srivastava, software lobby Nasscom’s machine learning and Internet of media, mobile, analytics & Cloud, IOT, and in his maiden fund, the Small Industries Kiran Karnik and Mohandas Pai, among Things. Has contributions from a fi ntech. Recently invested in microlending Development Bank of India, or SIDBI, others. SIDBI commits to invest about host of other investors, including startup SmartCoin Accel Partners, Mohandas Pai, came to his rescue, committing signifi- 15% to 25% of the fund corpus, post which STELLARIS FUND ` cant investments.
  • Edtech Innovation in China's Educational Market – Lessons Poland Should Learn From

    Edtech Innovation in China's Educational Market – Lessons Poland Should Learn From

    Graduate Programme Major: Finance and accounting Minor: Corporate finance Andrzej Daniluk Student number 79375 EdTech innovation in China’s educational market – lessons Poland should learn from. Master's thesis written in the lnstitute of Information Systems and Digital Economy under scientific supervision of Paulina Roszkowska, PhD Warsaw 2019 2 Table of Contents Introduction .............................................................................................................................. 5 1. EdTech background ......................................................................................................... 7 1.1. Description of the Educational Technology ............................................................... 7 1.2. EdTech product landscape .......................................................................................... 7 1.3. Global EdTech market .............................................................................................. 10 1.4. Global investment opportunities and trends ............................................................. 11 1.5. Education giants and biggest EdTech startups ......................................................... 16 1.5.1. Largest publicly listed education companies ........................................................ 16 1.5.2. Largest EdTech startups ....................................................................................... 18 2. EdTech innovation in China’s education market .......................................................
  • Weekly Deals Update

    Weekly Deals Update

    Weekly Deals Update Week Ending 07/06/2018 SPECIALIZED INVESTMENT BANKERS AT THE INTERSECTION OF FINANCE AND TECHNOLOGY Weekly Deals Update – Week Ending 07/06/2018 Go to Index BANK TECHNOLOGY SOLUTIONS ......................................................................................... 9 National Bank of Canada invests in local data sharing startup Flinks ........................................10 NPSO takes over cheque clearing; acquires UK payments administration ................................11 FINANCIAL MANAGEMENT SOLUTIONS ..............................................................................12 Mobivity raises $5 million in new funding...................................................................................12 Gresham acquires cash and payments solutions experts, B2 Group .........................................14 Ad giant IPG bets big on consumer data with $2.3 billion Acxiom deal ......................................16 Automation Anywhere raises $250 million in a Series A financing round ...................................18 Enterprise software company Puppet secures $42 million in funding ........................................20 Yoobic raises $25 million in second funding round ....................................................................21 Customer success measurement startup Cerebri AI raises $5 million in Series A .....................22 JASK announces $25 million Series B financing to advance security operations beyond SIEM 23 CashShield raises $20 million in Series B round, led by Temasek
  • Venture Capital Report

    Venture Capital Report

    Venture Capital Report China | 1 Q | 2018 VENTURE CAPITAL REPORT VENTURE CAPITAL REPORT The following report presents Dow Jones VentureSource’s quarterly findings for Chinese venture capital fundraising, investment, valuation, and liquidity. The included charts and graphs offer a comprehensive view of the trends currently affecting the venture capital market. Highlights for 1Q 2018 include: • China venture capital fundraising increased in both amount raised and the number of funds; • Amount flowed into venture backed Chinese companies increased, although the deal number dropped; • Amount raised through mergers and acquisitions (M&As) declined; while capital raised via initial public offerings (IPOs) climbed. VENTURE CAPITAL REPORT 2 GROWTH EQUITY Starting this quarter, we are reporting on Growth Equity. VentureSource has always tracked this space, but until now they were excluded from the quarterly statistics. Please note that Growth deals will be included in the Later Stage category, a subsection of Venture Capital Investment. We define Growth Equity as a minority stake investment in privately owned, mature companies that meet the following criteria: • No prior equity investment within the first 3 years of business operations; and • A proven business model -- generating revenue or profitable; and • No VC-type round series is used by the company to label the transaction; and • At least one institutional investor participated in the deal. We recently reviewed our entire database to ensure that all companies and transactions are classified consistent with the above criteria. As a result of this review, we re-characterized thousands of historical deals from VC to Growth, or from Growth to VC. As with our Venture Capital statistics, we exclude companies formed for the sole purpose of acquiring other companies, properties, natural resources, or interests.
  • Internship Possibilities & Company Profiles

    Internship Possibilities & Company Profiles

    CET SHANGHAI INTERNSHIP POSSIBILITIES & COMPANY PROFILES “CET Shanghai gave me everything I was looking for in study abroad. With Chinese language and real-world work experience, I grew immensely, academically and professionally.” ~Jason Traum, George Washington University, Fall 2015 2 cetacademicprograms.com Note: Sites marked with a * are placeholder sites. Placeholder sites closely match the scope, size, and reputation of an open site. Withheld names are available upon request. CET Shanghai Intern in China. Get your career started now. How to Use this Directory Use this list as inspiration for the type of internship you could have when you study with CET. Placement in an organization starts after you’ve been admitted to the program. Have some examples from this list ready when our Shanghai staff contact you to discuss placement, and we can use your top choices as a guide to find an internship that’s a perfect fit for you and your host organization. Biotech, Biomimetics, Brain Science, Laboratory 4 Fashion, Retail 11 Industrial 4 Visual and Performing Arts 12 Electronics, Hardware, Fabrication 5 Publishing 12 Engineering 5 Finance, Banking 12 Marketing, Branding, Advertising 5 Consulting, Research, Recruiting 13 Public Relations 7 Risk Management 14 Entertainment, Media, Events 7 Legal 14 Film, Graphic Design 8 Accelerators, Incubators, Startup Services 15 Information Technology and Services 8 NGO, NPO, Environment 15 Trade, Logistics 9 Education 17 Real Estate 10 More on CET Shanghai 19 Food, Hospitality 10 Don’t see a field or organization you’re looking for? Contact us! Each semester we place about 30% of interns with new organizations.
  • 2016 China Leading Fintech 50

    2016 China Leading Fintech 50

    2016 China Leading Fintech 50 KPMG China September 2016 Fintech 50 KPMG Survey Page WeChat 1 Page Number 01 Disruption & breakthrough 4 02 Overview 6 03 The 50 16 04 Appendix 67 Appendix I List of institutional investors 68 Appendix II Global comparison 69 Appendix III Regulatory update 70 Appendix IV KPMG China Fintech experts 74 Appendix V Glossary of abbreviated terms 75 About KPMG 76 Contact us 77 Disclaimer: The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. © 2016 KPMG Advisory (China) Limited , a member of the KPMG network of independent member firms affiliated with 2 KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. 01 Disruption & breakthrough © 2016 KPMG Advisory (China) Limited , a member of the KPMG network of independent member firms affiliated with 3 KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. Disruptive changes and breakthroughs Comprehensive service scenarios Credit Products Consumer cards lending Intelligence Payment Housing/car Data loans Precision Risk marketingIndividuals pricing Insurance Personal Anti-fraud finance Transactions Wealth management Quantitative Financial Portfolio trading markets management Payment Products and Bills receipts Intelligence Risk Data Risk control pricing Enterprises Wealth (small and Credit loans management medium-sized) (supply/industrial chain) Anti-fraud Leasing Pledged loans The picture above listed in no particular order，it is only a schematic diagram sorted by public information.
  • The IVCA-EY Monthly PE/VC Roundup – 1H2021

    The IVCA-EY Monthly PE/VC Roundup – 1H2021

    In today’s frenetic world, how does private equity set the pace? Learn how EY helps private equity professionals thrive in the Transformative Age The IVCA-EY monthly PE/VC roundup – 1H2021 The better the question. The better the answer. The better the world works. Our thoughts Indian. PE/VC investment activity grew at a record setting pace throughout 1H21 and the deal pipeline indicates that this pace is only going to intensify as 2021 progresses. Both “1H21 and 2Q21 notched up life-time highs for pure-play PE/VC investments at US$21.9 billion and US$14.1 billion respectively. While, deal activity has been hectic, activity in both large deals (US$100m+) as well as mid-market deals (US$20-100 m) and growth deals continue to be the mainstay, the material increase in buyout and start-up deals are the growth drivers when we compare PE asset class data to the previous two six-month periods. In 1H21, PE/VC interest has been overweight on technology, e-commerce, financial services, pharmaceuticals, education and media and entertainment, sectors which have either gained on account of COVID or have demonstrated resilience to or a quick bounce back from the pandemic and its aftereffects. Conversely, PE/VC investments in infrastructure and real estate asset classes and the retail and consumer products sector have shown a material decline compared to the previous six-month period. PE/VC exit activity is also on track to notch up a record setting year. With ~U$22.5 billion of exits in the first six months and several large deals in pipeline, 2021 is expected to materially eclipse 2018’s high of US$27 billion.
  • Cardiex 2020 Annual Report

    Cardiex 2020 Annual Report

    Annual Report 2020 CARDIEX LIMITED AND CONTROLLED ENTITIES ABN 81 113 252 234 CORPORATE DIRECTORY DIRECTORS Mr. Niall Cairns (Executive Chairman) Mr. King Nelson Mr. Craig Cooper Mr Jarrod White (appointed 21 May 2020) JOINT COMPANY SECRETARIES Mr. Jarrod White Mr. Philip Leighfield CHIEF FINANCIAL OFFICER Mr. Jarrod White REGISTERED OFFICE AND PRINCIPAL PLACE OF BUSINESS Suite 303, Level 3 15 Lime Street Sydney NSW 2000 Telephone: (02) 9874 8761 Email: [email protected] Website: www.CardieX.com SHARE REGISTRY Link Market Services Level 12, 680 George Street Sydney NSW 2000 Telephone: (02) 8280 6000 Website: www.linkmarketservices.com AUDITORS BDO Audit Pty Ltd Level 11, 1 Margaret Street Sydney NSW 2000 Telephone: (02) 9251 4100 Facsimile: (02) 9240 9821 Website: www.bdo.com.au CORPORATE ACCOUNTANT Traverse Accountants Suite 305, Level 3 35 Lime Street Sydney NSW 2000 Website: www.traverseaccountants.com.au STOCK EXCHANGE LISTING CardieX Limited’s shares are listed on the Australian Securities Exchange (ASX code: CDX ). 1 TABLE OF CONTENTS Chairman’s Report Page 3 CEO’s Report and Operational Update Page 4 Directors’ Report Page 10 Remuneration Report Page 15 Auditor’s Independence Declaration Page 19 Consolidated Statement of Profit or Loss and Other Comprehensive Income Page 20 Consolidated Statement of Financial Position Page 21 Consolidated Statement of Changes in Equity Page 23 Consolidated Statement of Cash Flows Page 24 Notes to the Consolidated Financial Statements Page 25 Directors’ Declaration Page 68 Independent Auditor’s Report Page 69 Shareholder Information Page 72 2 CARDIEX LIMITED AND CONTROLLED ENTITIES ABN 81 113 252 234 Chairman’s Report My Fellow Shareholders, It is a pleasure to present the 2020 Annual Report for CardieX Limited.
  • The Next Big Thing AVCJ RESEARCH Vcs Want to Help Firms Collect Big Data and Show Them How to Use It Page 6 Data F Ile Page 11

    The Next Big Thing AVCJ RESEARCH Vcs Want to Help Firms Collect Big Data and Show Them How to Use It Page 6 Data F Ile Page 11

    Asia’s Private Equity News Source avcj.com March 03 2015 Volume 28 Number 08 EDITOR’S VIEWPOINT Investors flock to join China VC gold rush Page 3 NEWS Accel, AlpInvest, Alibaba, Carlyle, CLSA, Cool Japan Fund, CPPIB, CVC, GGV, GIC, Goldman Sachs, KKR, LACERA, Matrix, Navis, Northstar, OTPP, PEP, Sumitomo Mitsui, TPG Page 4 FUNDS Shunwei broadens scope by entering RMB space Page 9 LP INTERVIEW Arizona PSPRS’ patient approach to Asia PE Page 10 The next big thing AVCJ RESEARCH VCs want to help firms collect big data and show them how to use it Page 6 Data f ile Page 11 DEAL OF THE WEEK FUNDS Therapeutic returns Bigger and better? Bain targets Japan hot spring phenomenon Page 8 Baring Asia closes Fund VI at bumper $3.9b Page 9 EDITOR’S VIEWPOINT [email protected] Managing Editor Tim Burroughs (852) 3411 4909 Staff Writers Andrew Woodman (852) 3411 4852 Winnie Liu (852) 3411 4907 Venture in bloom Holden Mann (852) 3411 4964 Creative Director FLIPPING THROUGH THE PAGES OF A billion, is a good example. Asia is no stranger Dicky Tang men’s magazine in an airport lounge, I can’t help to the VC mega-deal, however, India’s FlipKart , Designers but notice that double-breasted suits being which is said to be eyeing a $1.7 billion round of Catherine Chau, Edith Leung, Mansfield Hor, Tony Chow hailed as one of the next big trends in menswear. funding, is valued at $15 billion, while in China Yes, the Gordon Gekko look, with some updates, smart phone maker Xiaomi (which is profitable), Senior Research Manager is back.