TPG Capital has reached a first close of its two China funds, having received commitments of RMB4 billion ($635 million). The private equity firm said that 90% of the capital raised came from private investors rather than government-linked entities. It wants private capital to account for 50% of total commitments to the funds.
Both funds launched in August 2010 and are joint venture partnerships with local governments. The TPG Shanghai RMB Fund is backed by the Shanghai municipal government and Pudong New Area government and...
Australian superannuation fund Hostplus has committed $50 million to a China-focused VC fund launched by Australian seed investor Artesian. The fund is targeting up to $200 million.
Yatra Online, an Indian travel services provider listed on NASDAQ, has raised INR1 billion ($15.4 million) in debt funding from InnoVen Capital.
Steven Okun, until recently KKR’s director of public affairs for Asia Pacific, has been appointed ASEAN representative for EMPEA, a global industry association for private capital in emerging markets.
East Ventures has launched a $30 million Southeast Asia fund that will make seed to Series A investments in technology start-ups, with an emphasis on Indonesia.