Financial Services
Ping An VC unit leads round for social investment network
Ping An Ventures – an investment unit of China’s Ping An Insurance – and Russia-based SBT Venture Capital have led a $27 million round of funding for social investment network eToro.
Mandarin Capital exits Dagong Europe to Chinese JV partner
Mandarin Capital Partners has sold its 40% stake in a European credit ratings agency to joint venture partner Dagong Global Credit Rating. China-based Dagong is now the sole owner of the asset.
IFC to invest $100m in India's Axis Bank
The International Finance Corporation (IFC), an investment arm of the World Bank, has pledged to invest up to $100 million in India's Axis Bank.
DST leads $100m round for Chinese payment platform Fenqile
DST Advisors has led a $100 million Series B round of funding for Fenqile.com, a Chinese installment payment platform.
Chinese personal finance app Wacai raises $50m
Hangzhou Wacai Science, a Chinese personal finance management mobile app developer, has raised $50 million in a Series B round of funding led by China Broadband Capital and CICC Capital, a PE arm of China International Capital Corporation.
Financial technology accelerator launches in Singapore
Startupbootcamp FinTech, a Europe-based accelerator that focuses on financial technology, has launched an Asian program in Singapore.
Korean government’s Woori Bank sale flounders again
The South Korean government will make another attempt to sell its controlling stake in Woori Bank early next year following the collapse of the latest in a string of sale processes last week.
AIA, Nest set up accelerator for Hong Kong start-ups
AIA Group has teamed up with early-stage investor Nest to form a Hong Kong-based accelerator that will support start-ups with technologies relevant to the insurance and healthcare industries.
WestBridge invests $16m in Indian housing finance company Aptus
WestBridge Capital Partners has invested INR980 million ($16 million) in India Aptus Value Housing Finance, an affordable housing finance company.
SSG buys stake in India distressed assets specialist
Asia special situations investor SSG Capital Partners has acquired a 49% stake in Asset Care & Reconstruction Enterprise (ACRE), which acquires distressed debts from Indian banks, for INR410 million ($6.6 million).
Insight Venture backs Singapore's Wealth-X
US-based Insight Venture Partners has invested in Singapore's Wealth-X, a start-up offering sales, marketing, and compliance solutions to clients targeting ultra high net worth individuals (UHNWI).
Korean court favors Lone Star in $159m KEB tax case
Lone Star Funds is closing in on a KRW177.2 billion ($159 million) payout from the South Korea tax authorities after a court said the PE firm should be refunded taxes levied on its sale of a stake in Korea Exchange Bank (KEB).
Fidelity, Arbour lead $8.5m round for Japan fin-tech start-up
Japanese finance technology start-up Accounting SaaS Japan (ASJ) has secured a JPY1 billion ($8.5 million) Series B round of funding from Fidelity Growth Partners Japan, Arbor Ventures and iMercury Capital.
Taiwan’s Cathay buys PE-owned Conning for $240m
Cathay Life Insurance, Taiwan’s largest insurer, has agreed to buy Conning Holdings, an asset manager owned by US private equity firm Aquiline Capital Partners, for $240 million.
TVS Capital consortium picks 26% stake in IEX
A consortium led by TVS Capital Funds has agreed to buy a 25.64% stake in Indian Energy Exchange (IEX) for INR5.76 billion ($94 million) from Blackstone-backed Financial Technologies India (FTIL).
Legend Holding invests in China P2P lending platform Eloancn
Legend Holdings, the parent company of Chinese computer maker Lenovo Group, has invested an undisclosed sumin Eloancn, a Chinese peer-to-peer (P2P) online lending platform.
PEP makes another partial exit from Australia's Veda Group
Pacific Equity Partners (PEP) has generated around A$218 million ($192 million) through a partial exit from Australia-listed credit-checking firm Veda Group. It still holds 19.6% stake of the business.
Creador offloads more of Repco Home Finance
Creador has made another partial exit from India's Repco Home Finance (RHF), bringing its stake in the company to just under 2%.
Creador in Repco Home Finance withdrawal
The growth of India's non-banking finance companies (NBFCs) - institutions that offer banking services without meeting the definition of a bank - is well-documented. According to the Reserve Bank of India (RBI), the share of NBFC's assets as a proportion...
Mobile payments: Breaking down barriers
Driven by strong demand from consumers underserved by traditional payment channels, VC and strategic investors are increasingly active in Southeast Asia mobile payment. It is too early to identify winners.
Creador in 3x partial exit from India's Repco Home Finance
Creador has made a partial exit from India's Repco Home Finance (RHF), generating a 3x return on its original investment.
IFC proposes investment in Temasek’s India NBFC
The International Finance Corporation (IFC) is considering an investment of INR4.5 billion ($75 million) in Fullerton India Credit Company (FICC), a non-bank financial company owned by Temasek Holdings.
Bain secures China leasing buyout
Lionbridge Financial Leasing is aptly named. The team behind the Chinese company that provides lease-back services and leasing asset management to small and medium-sized enterprises (SMEs) started out together more than a decade ago at Zoomlion. They...
The Philippines: SE Asia's next big thing?
The Philippines has emerged from relative obscurity to become private equity’s latest nascent consumer play in Southeast Asia. Deal flow is slow and uncertain as investors get to grips with the opportunity.