Bee Alternatives Management to Acquire JAFCO Asia, Expanding VC Presence in Asia

Bee Alternatives Management Ltd. (BAM), the holding company of Malaysia’s Bee Alternatives Limited, has now an agreement to acquire all shares of JAFCO Investment (Asia Pacific) Ltd. (JAFCO Asia) from Japan’s JAFCO Group Co., Ltd. The value of the deal has not been made public.

The acquisition is part of BAM’s strategy to expand its investment platform and capabilities across Asia. It also marks Bee Alternatives’ entry into the venture capital space, transitioning from a pure-play secondary investor to a broader platform with primary and secondary investment activities.

Established in the 1990s, JAFCO Asia is a prominent venture capital firm that invests in technology-driven, high-growth companies from early to growth stages. Based in Singapore, it operates subsidiaries in China and Taiwan, providing strong regional coverage across India, Southeast Asia, China, and Taiwan. The firm focuses on mobile and internet technology, consumer services, cybersecurity, healthcare, and renewable energy sectors.

This acquisition represents a key milestone in Bee Alternatives Management’s long-term development strategy. By adding a well-established platform like JAFCO Asia, BAM aims to deepen its presence in the Asia Pacific region and create new opportunities for value creation. The move complements Bee Alternatives Limited’s (BAL) existing global secondary investment activities but remains an independent initiative under BAM’s broader platform expansion.

After the transaction is completed, BAM will directly or indirectly take ownership of the shares in the General Partner and Manager associated with the relevant funds. BAL will continue to manage and advise secondary investment funds worldwide. As part of the group’s reorganization, BAL is expected to come fully under BAM’s ownership, boosting the group’s operational efficiency and expanding its investment scope.

The transaction is designed to diversify BAM’s platform and strengthen its ability to connect private equity and venture capital ecosystems within Asia. By doing so, the group aims to foster greater collaboration and unlock new growth opportunities across the region’s vibrant private investment landscape.

The deal is expected to close in 2025, subject to necessary regulatory approvals and other customary closing conditions. Through this acquisition, BAM reinforces its commitment to expanding its investment footprint and enhancing its role in supporting Asia’s growing innovation and entrepreneurship ecosystem.

JAFCO Asia currently manages around US$650 million in assets, with a cumulative investment history of US$1.8 billion to date. The firm has backed over 480 companies, including Sapient Intelligence and Komunal, and successfully exited more than 400 investments. Over 110 portfolio companies have achieved public listings.