USA
Microsoft seeks to acquire TikTok assets from China's ByteDance
Microsoft Corporation wants to continue discussions over the purchase of the US operation of TikTok from PE-backed Chinese technology giant ByteDance amid threats from US President Donald Trump to ban the short video platform.
Eurazeo, Primavera-owned WorldStrides files for bankruptcy
WorldStrides, a US-based provider of study-abroad programs for high school and university students owned by Eurazeo and Chinese private equity firm Primavera, has filed for bankruptcy protection.
Carlyle co-CEO Glenn Youngkin to retire
Glenn Youngkin will step down as co-CEO of The Carlyle Group in September, with fellow co-CEO Kewsong Lee continuing in the role alone.
China's TuSimple wins backing from US truck maker
TuSimple, a China and US-based developer of autonomous driving technology for trucks, has received equity funding from US truck manufacturer Navistar International and entered into a partnership with the company.
B Capital closes second fund at $820m
B Capital Group, a US-based VC with a presence in Singapore and a significant Asia portfolio, has closed its second global fund at $820 million.
Deal focus: Running the CFIUS gauntlet for Grindr
Grindr, America's most popular LGBTQ dating app, was only put up for sale because its Chinese owner violated foreign investment regulations. San Vicente's subsequent $560 million acquisition faced intense scrutiny
Chinese IPOs: One less option
Will Chinese companies listed in the US become the latest casualties of tensions between the two countries? It could lead to a narrowing in IPO exit options for PE and VC investors
Foreign investment restrictions: Looking inward
China is the implied threat as governments look to protect vulnerable domestic companies from foreign corporate raiders. On balance, PE investors are unlikely to benefit from moves towards de-globalization
US-Singapore food tech fund to target Asia
Big Idea Ventures, a US and Singapore-based food technology investor, has launched its debut fund with a target of $50 million. Asia is a core market.
ESG and VC: Deferred dialogue
Institutional LPs are traditionally less engaged with VC versus PE when it comes to responsible investment standards. A multitude of drivers are changing this, but not quickly
Optum, Health Catalyst back Singapore's Holmusk
US investors Optum Ventures and Health Catalyst Capital have co-led a $21.5 million Series A round for Singapore-based healthcare technology developer Holmusk.
Deal focus: RWDC's plastics replacement mission
RWDC Industries believes it has a biodegradable substitute for plastic that can be produced at scale. The Singapore and US-based company now has $133 million in VC funding to help make its case
Lightspeed completes $4b global fundraising effort
Lightspeed Venture Partners has raised $4 billion across early and growth-stage funds, including $1.5 billion for an opportunity fund that will support breakout companies in global markets such as China, India and Southeast Asia.
LPs worried about denominator effect as capital calls rise - survey
LPs are receiving more capital calls from private equity firms following the coronavirus outbreak, with the concurrent drop in public market valuations prompting concerns about overallocation to the asset class, according to a survey by the Institutional...
HighLight-backed Zentalis raises $165m in US IPO
Zentalis Pharmaceuticals, a US-based cancer drug developer, raised $165.2 million in its NASDAQ IPO, facilitating a liquidity event for Chinese healthcare investment specialist HighLight Capital.
Portfolio: Capital Square Partners and Aegis/StarTek
Capital Square Partners’ acquisition of Indian business processing outsourcing (BPO) player Aegis ultimately helped two different companies find global relevance after a turbulent and disruptive decade
Australia’s Carnegie exits Assetic in PE-backed bolt-on
Australian VC investor MH Carnegie has exited asset management software specialist Assetic to Dude Solutions, a similar private equity-owned company in the US.
Alternative protein player Nature's Fynd gets $80m Series B
Nature’s Fynd, a US-based developer of edible proteins from non-animal and non-plant sources that is seen as having considerable application potential in Asia, has raised $80 million in Series B funding.
Retail investment in PE: Common stock
Signs are converging that increased retail investor participation in private equity is inevitable. Myriad roadblocks around access, alignment, and infrastructure will inhibit the transition
Korea's Mirae leads $500m round for Impossible Foods
Korea’s Mirae Asset Global Investments has led a $500 million Series F round for Impossible Foods, a US-based food technology supplier pursuing an Asia expansion.
OrbiMed targets $750m for Asia healthcare fund
US-based healthcare investment firm OrbiMed has launched its fourth Asian private equity fund with a view to raising $750 million.
1955 Capital wins case against Chinese anchor LP
Cross-border technology investor 1955 Capital has emerged victorious in a legal battle with its Chinese anchor LP after a US court upheld an earlier arbitration ruling that the LP had no grounds for withdrawing from the fund.
Japan's Global Brain invests biometric ID player
Japan’s Global Brain has led a Series B round of undisclosed size for Gtriip, a biometrics-focused identity authentication technology provider pursuing a pan-Asia expansion.
Japan's TDK invests air mobility developer
Japan’s TDK Corporation has made a VC commitment of undisclosed size in AutoFlightX, an electric air mobility company based in Germany with a significant China presence.