Fundraising
Australian LPs still struggling with co-investment - AVCJ Forum
Australian LPs are increasingly keen on direct investment for the most part alongside portfolio GPs but not all groups are able to build and retain the resources required to participate effectively.
Jiuding Capital reaches $150m first close on US dollar fund
China’s Jiuding Capital has reached a $150 million first close on its second US dollar-denominated vehicle. Investors include sovereign wealth funds and insurance companies from North America and Asia.
China ZJ Capital targets $50m co-investment VC fund
Zhijing Capital Management (ZJ Capital), a Shanghai-based early-stage VC firm, is seeking $50 million for its debut US dollar-denominated fund. The vehicle will make co-investments in Chinese start-ups.
DCM closes China VC Fund at $330m
Technology-focused venture capital firm DCM has closed its latest China-focused fund - DCM Ventures China Fund (DCM VII) - at $330 million, above the initial target of $250 million.
LP interview: Munich Private Equity Partners
Munich Private Equity Partners set up its first overseas office in Shanghai to demonstrate a commitment to Asian managers, with China at the fore. It is now seeking out local champions
A story that sells
One of the observation's made in last week's Australia-themed viewpoint was that private equity fundraising tanked in 2013, although there was a caveat.
India VC Nexus raises $110m top-up fund
Indian GP Nexus Venture Partners is raising a $110 million “opportunity fund” focusing on later-stage investments in existing portfolio companies. The vehicle is not open to new LPs and is scheduled to close in March.
Australia’s Quadrant in $758m quick-fire fundraise
Australian GP Quadrant Private Equity has closed its seventh fund at A$850 million ($758 million) after just over one month in the market. The vehicle was two times oversubscribed with interest from both domestic and offshore investors.
China Everbright, Catalyst raise $100m for Israel Fund
China Everbright and Israel-based Catalyst Equity Management have reached a first close of $100 million on a private equity fund that will invest in Israeli companies.
China to see PE fundraising rebound in 2014 – PwC
China is expected to see a significant rebound in private equity fundraising this year in response to the domestic IPO markets re-opening, according to PricewaterhouseCoopers(PwC). Meanwhile, renminbi-denominated fundraising will prevail as usual.
Australian pension funds: Indecent disclosure?
The Australian government is expected to halt and wind back superannuation fund disclosure requirements that go beyond global norms. Industry participants are hopeful for the best, but mindful of the worst
Origo restructures China cleantech fund
Origo Partners has restructured its China cleantech fund - China Cleantech Partners (CCP) - taking full control of the vehicle and paving an exit for co-investor Ecofin Water & Power Opportunities (EWPO).
Morningside raises $412m across three China TMT funds
Morningside Technologies, an investment company set up by Hong Kong's Chan family - owners of property developer Hang Lung Group - has raised $412 million across three China technology-focused funds.
IFC commits $25m to Olympus' Asia environment fund
International Finance Corporation (IFC), the investment arm of the World Bank, plans to invest $25 million in Olympus Capital Asia’s latest pan-regional environment fund. The vehicle has a target size of $300 million.
GGV targets $500m for new Sino-US fund
GGV Capital, the US- and China-focused venture capital investor, is seeking $500 million for its fifth fund.
Artesian launches Australian crowdfunding platform
Early-stage venture capital firm Artesian Venture Partners has launched its equity-based crowdfunding platform – VentureCrowd – in Australia with over 200 registered investors and 36 start-ups.
Mayfield closes second India fund at $108m
Early-stage investor Mayfield has reached a final close of $108 million its second India-focused venture fund.
ClearVue Partners closes $262m China consumer fund
ClearVue Partners has closed its first fund, ClearVue Partners Fund I, at $262 million. It has exceeded the original target of $200 million.
India's IFCI to set up $32m social venture fund
Industrial Finance Corporation of India (IFCI), the country’s oldest development finance institution, has received a government mandate to set up a venture capital fund that will support economically disadvantaged groups.
Partners Group raises $2b for PE direct investment program
Partners Group has raised EUR1.5 billion ($2 billion) for its largest-ever private equity direct investment program, adding impetus to a strategy that has so far seen two deals in Asia, both secondary acquisitions from other GPs.
JLL reaches final close on maiden India property fund
Segregated Funds Group (SFG), the private equity unit of Jones Lang LaSalle (JLL), has reached a INR1.6 billion ($27 million) final close on its maiden Indian real estate fund - short of its original INR3 billion target.
Piramal, CPPIB form $500m realty finance fund
India's Piramal Enterprises is to form a $500 million realty debt fund with CPPIB Credit Investments,, a subsidiary of the Canada Pension Plan Investment Board (CPPIB).
CITIC leads $41m China tech fund launch
A group of investors, including CITIC Capital and the Shenzhen municipal government have launched a RMB250 million ($41 million) venture fund to invest in technology companies.
Fund admin: In house or out?
Asian private equity is becoming institutionalized, with increasingly sophisticated and international LPs asking GPs to bulk up their back office capabilities. Third-party administrators sense an opportunity