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...
Amicus Capital Partners, an India-focused PE firm founded last year by former executives from the Carlyle Group and India Value Fund Advisors (IVFA), has reached a first close of $90 million on its debut fund.
Rui Ma, Greater China partner at Silicon Valley-based investor 500 Startups, has left the firm and set up her own early-stage fund-of-funds to invest in US GPs.
Sydney Angels, a syndicate of high-net-worth individuals that invests in Australian start-ups, has launched its second fund with a view to raising up to A$20 million ($15 million).
Innovation Network Corporation of Japan (INCJ) has committed up to $45 million as part of a joint acquisition of UK-based freeze-dried food manufacturer Chaucer Food.