Jun 28, 2025

I recently came across a podcast discussing the potential impact of Iran on Trump’s defense strategy in Asia, focusing on the Quad, China, Southeast Asia, and the Indo-Pacific outlook. The experts emphasized the importance of U.S. engagement in the region to address challenges from China and other geopolitical factors. They also analyzed the Trump administration’s defense approach in the Indo-Pacific, highlighting the need for allies and partners to contribute more to defense efforts amidst potential challenges from changes in U.S. foreign assistance and economic policies.

The conversation also delved into the evolution of security partnerships in the Indo-Pacific, emphasizing the need to formalize defense arrangements with key allies like Japan, Australia, and the Philippines. The experts discussed China’s efforts to build its own security networking inroads in the region, posing concerns for U.S. interests. The focus was on maintaining a free and open Indo-Pacific to prevent Chinese hegemonic control without forcing Southeast Asian countries to choose sides.

There were concerns raised about a legal dispute threatening to shut down biotech companies funded by Apple Tree Partners, primarily by Russian oligarch Dmitry Rybolovlev. The dispute over capital calls has put several portfolio companies at risk, with court intervention sought to resolve the issue. Additionally, Uber is reportedly in talks with former CEO Travis Kalanick to fund his bid for Pony.ai, reflecting the competitive landscape in the self-driving car industry and the impact of national security rules on businesses operating in the U.S. and China.

I also learned about acquisitions in the financial space, with Turnspire Capital Partners acquiring TransAxle’s off-highway business and Visma, a Norwegian enterprise software company owned by Hg, acquiring Talana, an HR platform in Chile and Peru. Volo Sports, a Bluestone Equity Partners portfolio company, has agreed to buy ZogSports, a recreational league organizing platform. In the public offerings realm, Carlsmed has filed for an IPO on Nasdaq, while Shein plans to file confidential IPO papers in Hong Kong. On the liquidity events front, Capchase has acquired Vartana, an SF-based vendor financing platform, and HIG Capital is looking to sell Interpath for about £800m. Other notable news includes Ontario Teachers’ Pension Plan and PSP Investments shelving the auction of Cubico, Summit Partners selling Dr. Squatch to Unilever for $1.5b, and SK Group considering selling its stake in Cenviro for around $300m.

Stay Well!