Source Code Capital, a Chinese VC firm founded by Yi Cao (pictured), a former partner at Sequoia Capital, has closed its third US dollar-denominated technology fund at $260 million.
Adveq, a global fund-of-funds that deploys $100-200 million every year in Asia, has agreed to an acquisition by UK-listed asset manager Schroders.
ClearVue Partners has closed its second China consumer-focused fund at $362 million, having received commitments from institutional LPs including several global fast-moving consumer goods companies.
Integral Group has closed its third Japan mid-market buyout fund at the hard cap of JPY73 billion ($670 million), with domestic LPs accounting for approximately three quarters of the corpus.
Wei Zhou (pictured), formerly a managing partner at KPCB China, has launched a new VC firm – China Creation Ventures – and closed his debut renminbi-denominated fund at RMB1.5 billion ($220 million).
South Korea has announced plans for a KRW8 trillion ($7 billion) fund – of which half will come from private sector feeder vehicles – as part of government efforts to initiate a more market-based approach to corporate restructuring.
Venture capital has come to the fore in Indonesia, propelled forward by the attractions of a youthful population, rising disposable incomes and growth in smart phone adoption
The Tianjin government is looking to raise RMB100 billion ($14.5 billion) for a renminbi-denominated fund intended to stimulate private investment in pillar industries such as high-end manufacturing, information technology and aerospace.
The governments of India and the UK have launched a private equity fund with a target of GBP500 million ($620 million) to invest in sustainable infrastructure projects in India.
The corporates and family groups that dominate Indonesia’s economy are becoming increasingly active in the VC space. To independent GPs, they are more friend than foe, but agendas and approaches vary
WL Ross & Co, the private equity firm founded by recently appointed US Commerce Secretary Wilbur Ross, has announced its first China investment in over five years, backing a joint venture to acquire steel industry assets in the country.
The International Finance Corporation (IFC), the investment arm of the World Bank, has proposed an investment of up to $25 million in LeapFrog Investments’ emerging markets-focused third fund, which is targeting as much as $800 million.
Banyan Capital has raised more than RMB5 billion ($725) million across two China-focused venture capital funds – one US dollar-denominated and the other in renminbi.
Tokio Marine Capital has reached a final close of JPY51.7 billion ($466 million) on its fifth Japan mid-market fund on the back of strong support from domestic LPs, notably regional banks.
CITIC Private Equity has sought to differentiate itself from other Chinese GPs with an operations-driven buyout strategy. Feng Zhai, managing director and head of the portfolio management team, explains the approach
Private equity firms keen to diversify their LP bases are looking to establish relations with Asia’s high net worth segment, and the private banks and wealth managers who facilitate access to this community
KKR has reached a first close of just under $5.8 billion on its third pan-Asian fund. The vehicle has an institutional hard cap of $8.5 billion, with a further $700 million in commitments from the firm’s balance sheet and management team.
DCL Investments, a China-focused distressed debt and special situations manager set up by former executives at CDH Investments and Shoreline Capital, is targeting around $300 million for its first US dollar-denominated fund.
Japanese GP IMJ Investment Partners has spun out from its corporate parent and changed its name to Spiral Ventures.
Morningside Venture Capital, a China-focused early-stage VC firm that used to manage only US dollar-denominated funds, has closed its first renminbi vehicle at RMB1 billion ($143 million).
Chinese healthcare-focused GP HighLight Capital, which was set up by Steven Wang, formerly of CDH Investments, is targeting $250 million for its second US dollar-denominated fund.
Indian electronics manufacturer Intex Technologies has launched a technology-focused venture capital fund and made its first investment in online media platform Rooter.
In response to rising LP demand, Square Peg Capital left its deal-by-deal days behind and raised a formal VC fund. The firm is targeting start-ups in Australia, Southeast Asia and Israel
Cracks have appeared in the secondary transactions through which Standard Chartered Private Equity had sought to secure its future, underlining the challenges for investors of bank-led deals