A group of Southeast Asian VCs have committed $12 million to Singaporean automobile marketplace Carro as part of an operational expansion into artificial intelligence (AI)-enabled car financing services.
Sequoia Capital has led a $15 million Series B round for Indian online travel marketplace Ixigo, with participation by Fosun Kinzon Capital, the investment arm of Chinese conglomerate Fosun International.
China’s Minsheng Education Group closed up 9.4% on its first day of trading in Hong Kong, following a HK$1.38 billion ($177 million) IPO in which the International Finance Corporation (IFC) participated as a cornerstone investor.
Alibaba Group has taken full ownership of Damai.cn, a leading Chinese online ticketing platform that previously raised funding from VC investors.
Indian e-commerce giant Flipkart has reportedly raised a $1 billion round of funding at a valuation of about $10 billion – a drop from $15 billion as of its previous round.
Chinese outbound online travel platforms Woqu.com and Lulutrip – both of which have received several rounds of funding from VC and strategic investors – have agreed to merge. The combined entity has received $25 million in new funding.
PAG Asia Capital has led a $100 million Series C round of funding for Mychebao.com, a Chinese online auction platform for second-hand cars.
Evolution Media China (EMC) and Shenzhen Capital Group have led a $30 million Series B round for Shenzhen-based education and robotics start-up Makeblock.
China is adjusting to a slower growth model driven by consumption rather than investment, but significant gains can still be made through productivity and innovation, industry participants told the AVCJ China Forum.
US-based private equity firm Platinum Equity has agreed to buy the Australia and New Zealand businesses of business products supplier Staples.
New Zealand’s Pioneer Capital has hit the hard cap of NZ$260 million ($180 million) on its third growth fund, beating the target of NZ$210 million. It follows the first investment from the new vehicle in Havelock North Fruit.
Co-High Investment Management, a Hong Kong-based private equity firm focused largely on culture and media, has agreed to invest in a film production company formed through a US-Hong Kong merger.
Malaysian VC-backed online-to-offline (O2O) e-commerce company Fave has agreed to acquire Groupon Singapore, extending a string of related bolt-ons in Southeast Asia.
Reliance Capital has exited part of its stake in Indian e-commerce and mobile payments start-up Paytm to China's Alibaba Group for INR2.8 billion ($41.3 million).
Chinese chauffeured car service provider Ucar, which is backed by Warburg Pincus and Yunfeng Capital, has raised RMB4.6 billion ($668 million) through a private placement on the National Equities Exchange and Quotation (NEEQ).
CLSA Capital Partners (CLSA CP) has invested in Chinese cross-border e-commerce solutions provider Azoya.
China-focused food and agriculture specialist Hosen Capital has closed its third private equity fund at $440 million after eight months in the market. The target was $400 million.
Sequoia Capital China has led a $30 million Series B funding round for Hong Kong-based travel services company Klook.
Partners Group plans to acquire a 30% stake in Affluent Fine, a holding company that operates restaurant chains in China.
Legend Capital has led a $12 million Series A round for Dora’s Dream, an online clothes rental platform based in China.
Chinese e-commerce giant Alibaba Group and SAIF Partners have invested $200 million in the online marketplace unit of Indian online payments platform Paytm.
Hospital Corporation of China (HCC), a hospital operation group established by Hony Capital, has launched a Hong Kong IPO that would see the company raise as much as HK$500 million ($64 million).
Maihuolang Information Technology, a Chinese e-commerce company focused on selling agricultural products, has raised a RMB1 billion ($145 million) Series A round of funding from several domestic GPs.
Oaktree Capital Management and Navis Capital Partners are merging Fitness First and Celebrity Fitness in the expectation that scale will be rewarded in Southeast Asia's gym market