DealStreetAsia

Editor's take: The week that was — October 5-10

DealStreetAsia's weekly review of Asia-Pacific private markets: India's September funding rebound, new venture rounds and fund closes across the region, a preschool group's buyout, and takeaways from the publisher's summit.

Firmus scraps $5b Australian IPO on weak demand, to opt for private fundraising

Data centre operator Firmus cancelled its planned A$5 billion Australian IPO citing weak demand and market volatility, and will instead seek private capital; its valuation had nearly tripled after an August fundraising round.

Macquarie backs Singapore's Zerra DC for APAC data centre expansion

Macquarie Capital has invested an undisclosed sum in Singapore-based data centre developer Zerra DC, which plans hyperscale expansion across the Asia-Pacific region and is developing a Queensland campus with Macquarie's involvement.

Australia's Firmus to allocate half of $5.5b IPO proceeds to existing investors: report

Data centre operator Firmus plans an Australian IPO of up to $5.5 billion, half earmarked for existing investors; it raised a $2 billion strategic round in August valuing it at $10.5 billion post-money.

Under Startup Daily ·leads this story in the feed

Firmus $5b IPO divides investors after valuation triples in two months

Australian data centre firm Firmus priced shares for a $5 billion ASX listing at a $30.6 billion valuation, nearly triple August's level, drawing scepticism from prospective investors over its track record and debt.

Under This Week in Australian Startups ·leads this story in the feed

ID Digest: Bumi Resources aquires Loyal Metals; Indonet bags $530m financing

Bumi's Australian unit has taken over ASX-listed Loyal Metals for A$79.1 million, with the shares to be delisted; separately, Indonet signed a $530.2 million loan for its subsidiary's data centre build.

DigitalBridge to acquire Australian smart metering platform PLUS ES

DigitalBridge is buying PLUS ES, a leading Australian smart-meter provider within the Ausgrid Group, marking the infrastructure investor's move into energy-transition technology; terms undisclosed.

Under Dealroom ·leads this story in the feed

Sumitomo heats up takeover war for Australia's FleetPartners with $582m bid

FleetPartners has received a A$3.85-per-share buyout proposal from a Sumitomo-led consortium, topping ORIX and Element Fleet's bids but trailing SG Fleet's, as a four-way contest for the Australian vehicle lessor continues.

Australian VC Blackbird raises $752m from Asian investors

Blackbird, a venture capital firm based in Australia, has raised 752 million dollars from backers across Asia; only the headline is visible, as the body sits behind registration.

Australia's Steadfast agrees to $5.5b buyout bid by KKR-backed consortium

Insurance broker Steadfast is set for an A$7.7 billion take-private by a KKR-backed consortium, with Amwins and Dragoneer taking its two businesses, amid a wider Australian public-to-private wave.

Advent to buy majority stake in NZCR Group in ANZ healthcare deal

Advent International is to take a majority holding in trans-Tasman clinical trials operator NZCR, whose existing backers, among them Waterman Capital, will keep a minority position, with a fourth-quarter close anticipated.

Also adventinternational.com·nzcr.co.nz·biospectrumasia.com·healthcaredealflow.com

Brookfield takes another shot at Australia's Reliance with $2.9b bid

Brookfield has tabled a fourth, richer proposal for Reliance Worldwide, which opened its books; the plumbing group's profit slumped on tariffs and copper costs, and it has hired advisers to assess the approach.

Partners for Growth secures $178m first close of tech private credit fund

DealStreetAsia reports investment firm Partners for Growth has held a $178 million initial closing for its technology-lending income vehicle, the PFG Income Fund.