Summer checklist: Shades, beach shorts, and term sheets

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Hello readers,

There’s a running joke in the US venture capital scene: Around this time every year, some firms will claim that they don’t take a break for the summer, but they’ll inconspicuously go dark for a few weeks, anyway.

Since such summer getaways are rare on this side of the world, Asian VCs are evidently still putting in the work; this week saw over US$1.6 billion in disclosed funding go to startups across the region.

Of course, because the “new normal” has made it possible for founders to raise funds without ever stepping out of their homes, it’s entirely possible that some are inking deals while enjoyinga good sun tan.

You can find all the other important investment deals over the last few days in our weekly funding news wrap-up.

Let’s dive into the biggest deals and M&As that recently lit up the scene.

BIGGEST DEALS BY COUNTRY

🇨🇳 SmartMore: The Chinese AI company bagged US$200 million in series B money from Bull Capital Partners, Costone Capital, Green Pine Capital Partners, Hermitage Capital, IDG Capital, Lenovo Capital, Sequoia Capital, and ZhenFund.

🇵🇭 Voyager Innovations: The Philippines-based fintech firm scored US$167 million in series C funding from KKR, PLDT, and Tencent.

🇮🇳 Classplus: The Indian edtech startup got US$65 million from Alpha Wave Incubation, Blume Ventures, GSV Ventures, RTP Global, and Tiger Global Management in its series C funding round.

🇰🇷 Mathpresso: The South Korea-based edtech company raised US$50 million from GGV Capital, Goodwater Capital, KDB Capital, Legend Capital, Mirae Asset Venture Investment, Smilegate Investment, SoftBank Ventures Korea, and YellowDog in a series C funding round.

Lists of most active investors in the region

List of top-funded startups in Asia

List of largest exits in Asia