Over the past decade, private equity (PE) and venture capital (VC) were often viewed as complementary parts of the private markets story. But the prolonged fundraising slowdown has revealed an increasingly sharp divergence in investor sentiment, particularly in Southeast Asia.

While private equity is gradually regaining momentum as financing conditions improve and larger exits return, VC activity in the region remains in reset mode. Among the month’s most-read stories, we examined how Asia’s private capital recovery may have left SE Asia’s venture capital industry behind.

We continued to bring several startup fundraising exclusives and private equity sale processes from across key Asian markets. Restructuring at Singapore’s early-stage investor Monk’s Hill Ventures, the potential sale at Anytime Fitness Asia parent, Affinity Equity Partners’ exit from Vietnam’s HDBank and Indonesia’s JULO’s fundraising marked top headlines from SE Asia.

From India, we broke NIIF’s investment in NU Hospitals and wrote about Livespace co-founder’s stake increase in the unicorn.

Lastly, from Greater China, we featured the multi-asset strategy approach by Hong Kong-based alternatives asset manager Templewater and the shifting Asian PE secondaries landscape.

In case you missed these, here are some of the deeply reported top stories that our readers and subscribers loved in July 2026:

Southeast Asia

Singapore’s Monk’s Hill undergoes restructuring, strategy shift
Monk’s Hill, which is known for its pre-Series A and Series A investments, is now targeting growth-stage companies and special situation investments.

Anytime Fitness’s Asia owner said to target up to $450m in potential sale
The sale could be the biggest transaction in the fitness space in the region this year.

Affinity Equity Partners exits Vietnam’s HDBank six years after investment
The deal marked another instance of family buybacks emerging as a preferred private equity exit route across Southeast Asia.

Vietnamese fintech firm Trusting Social slips back into loss in 2025
The loss was largely driven by fair value loss on remeasurement of financial liabilities, per its filings with ACRA.

Vietnamese coffee chain Every Half bags $8m from Openspace, DSG
The startup raised a $3 million pre-Series A round last year, and an undisclosed seed investment in 2024.

Asia’s private capital recovery leaves SE Asia venture capital behind
The contrast with PE is sharpest in SE Asia, where – except for Singapore, the VC opportunity scores of other markets trail those of PE.

Indonesia’s JULO raises fresh capital from existing investors
The internal financing comes as JULO explores a significantly larger financing round.

TPG in talks to acquire SE Asian elderly-care provider Active Global
A potential acquisition of Active Global could be a valuable addition to TPG’s recently launched One Aged Care platform.

Invictus Private Equity Asia plans SG office as first step into SE Asia
The office is intended to handle fund administration for capital raised outside Japan and Korea and sourcing Invictus Private Equity Asia’s own Southeast Asia deals directly.

Vertex Growth Fund poised for 8x return on $1.5b Israeli drone firm deal
Temasek-backed Vertex Ventures’ Israeli fund backed D-Fend’s first institutional fundraise in 2018, while its second growth fund invested in it in 2022.

Greater China

Templewater builds multi-strategy alt asset platform from venture to buyout
It believes the approach will give both its investors and its portfolio companies the necessary exposure amid an evolving operating environment and risk appetites.

As Asia’s secondaries PE market matures, buyers raise the bar
Buyers are more selective, and they are willing to walk away even from assets offered at steep discounts.

India

Livspace’s co-founder raises stake via secondary share buy
Following the transaction, the co-founder’s stake in the unicorn rose to 6.4%, up from 0.6%, according to DealStreetAsia DATA VANTAGE.

NIIF invests $15m in specialty healthcare chain NU Hospitals
The quasi-SWF has invested $15 million in the company from its second Private Markets Fund (PMF II).