🏝️ Indonesia Stock Index Rises 19%. $480M+ VC Funding.
Impact Capital Markets #54 looks at our Indonesia stock index, major impact deals, M&A, and upcoming economic releases.
Sawubona 🏞️
📉 Today's Global Economic Update: Japan's Balance of Trade data revealed a sharp decrease in the trade deficit to JPY 379B in February, with a 7.8% increase in exports and a 0.5% rise in imports.
🧬 Deal of the Day: Capstan Therapeutics, a California-based biotechnology company, raised a $175M Series B to advance its pipeline of RNA-based therapies.
What's New?
- 🏝️ Indonesia. HolonIQ's Indonesia stock index rises 19%
- 💰 Funding. Biotechnology, medical imaging, greentech & more
- 💼 M&A. Healthcare services & EV charging
- 📅 Economics. Major interest rate decisions, inflation data, retail sales + more
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🏝️ HolonIQ's Indonesia Stock Index Rises 19%
HolonIQ’s Indonesia stock index has risen by 19% over the past year. Indonesia’s economy has shown resilience, with positive performance in the renewables and banking sectors. President Joko Widodo, during his term, placed a large emphasis on attracting foreign capital to fund economic development, with FDI in 2023 reaching a record high of $47 Bn, an increase of 13% from the year before. Domestic demand and consumer confidence have also exhibited resilience, creating a favorable climate for Indonesian stocks.
At its latest monetary policy meeting, Indonesia’s Central Bank held interest rates unchanged, and recent signals have indicated a halt in the monetary tightening cycle, which could direct further investment into equity. The election held in February also saw Defence Minister Prabowo Subianto elected as President, eliminating the need for a second round of elections in June. The political certainty resulting from the clear win will likely be perceived positively by markets, potentially benefitting Indonesian stocks.
💰 Funding
🧬 Capstan Therapeutics, a California-based biotechnology company, raised a $175M Series B from RA Capital Management to advance its pipeline of RNA-based therapies.
🔬 Clasp Therapeutics, a Massachusetts-based biotechnology start-up developing advanced immuno-oncology drugs using T cell engagers, raised a $150M Series A.
⚡️ Blue Laser Fusion Inc., a California-based startup creating its own laser and fusion reactor, raised a $37.5M Seed. The funding will be used to finalize its first prototype.
🏥 PocketHealth, a Canadian medical image-sharing platform, raised a $33M Series B to expand across the US and Canada.
🏋️♂️ Ultrahuman, an Indian manufacturer of wearable health devices, raised a $25M Series B to increase manufacturing capacity.
🩺 Flosonics Medical, a Canadian medical device company, raised a $20M Series C from New Leaf Venture Partners to drive market adoption of its wearable device FloPatch.
⚡️ e-peas, a Belgian semiconductor company, raised $19M to expand its product portfolio.
💊 Tempo Therapeutics, a California-based innovator in tissue engineering and regenerative medicine, raised a $12M Series A from Galaxy-Sirius Partners and Johnson & Johnson Innovation to advance clinical trials of its products.
🛡️ The CareVoice, a Chinese health insurance software startup, raised a $10M Series B from Apis Partners to accelerate its growth.
🌱 AirMyne, a California-based greentech startup, raised a $6.9M Seed to expand operations.
💼 M&A
🏥 Syllable, a California-based healthcare services company, acquired Actium Health, a company focusing on consumer engagement in the healthcare industry.
🔌 Global Technologies, a New Jersey-based company that acquires and redevelops distressed companies, acquired GOe3, an Arizona-based EV charging infrastructure company.
📅 Economic Calendar
Major Interest Rate Decisions, Retail Sales Data, Inflation + More
Thursday, March 21st 2024
🇺🇸 US Fed Press Conference
🇩🇪 Germany HCOB Manufacturing PMI (Flash), March
🇬🇧 UK BoE Interest Rate Decision
Friday, March 22nd 2024
🇯🇵 Japan Inflation Data, February
🇬🇧 UK Retail Sales Data, February
🇩🇪 Germany Ifo Business Climate Index, March
Tuesday, March 26th 2024
🇦🇺 Australia Westpac Consumer Sentiment Index, March
🇩🇪 Germany GfK Consumer Confidence Index, April
🇺🇸 US Durable Goods Orders Data, February
Thursday, March 28th 2024
🇺🇸 US Core PCE Price Index Data, February
🇺🇸 US GDP Growth Data, Q4
Friday, March 29th 2024
🇫🇷 France Inflation Data (Preliminary), March
🇮🇹 Italy Inflation Data (Preliminary), March
🇺🇸 US Personal Income & Spending Data, February
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Thank you for reading. Have a great week ahead!
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