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...
Asia Pacific Medical Group (APMG), a medical platform owned by Bain Capital, has agreed to sell Singapore and Malaysia-based plastic surgery brand The Sloane Clinic to China Medical (International) Group (CMIG).
Neobear, a China-based company that develops interactive learning tools for children, has raised a RMB250 million ($37 million) Series B round of funding led by Chinese GP New Horizon Capital.
Quona Capital has led a $5 million Series A round of funding for US-based financial technology start-up Coins. It will support an expansion in Southeast Asia with an emphasis on the Philippines.
Indian technology investment firm and accelerator Techcelx has launched a INR1 billion ($15 million) venture fund targeting domestic companies in banking, education and healthcare.