Mezzanine’s role in Australia’s financing sector has grown in light of the economic crisis because, not only has it acted as an alternative to taking on senior debt – as banks became more stringent in their lending – but also to equity itself, says Gary Stead, Co-Founder and Managing Director of Shearwater Capital.
Stead tells AVCJ that Australia's shifting financing landscape has landed mezzanine with new bedfellows that it wouldn't have had to compete with in times past. "The alternative used to be senior debt....
Sequoia Capital China has co-led a funding round for online reading business Zongheng Literature, working in tandem with Perfect World, the Chinese movies-to-gaming company that controls Zhongheng.
Rahul Chandra, co-founder and managing director at India-based Helion Venture Partners, is looking to raise $100 million for an early-stage fund. He will retain his existing portfolio management responsibilities at Helion.
The disruption caused by technology in China's consumer and business services sectors - and the change this brings to traditional business models - is generating increased deal flow for private equity and venture capital investors.
Bain Capital Credit (BCC) has agreed to buy a portfolio of Chinese non-performing loans (NPLs) worth approximately $200 million, reflecting the growing interest from foreign investors in the country’s distressed debt space.