J-Star has closed its third Japan-focused buyout fund at the hard cap of JPY32.5 billion ($291 million), having launched the vehicle last summer with a target of JPY30 billion.
New York State Common Retirement Fund (NYSCRF), the third-largest pension fund in the US, has committed $275 million to KKR’s third Asian fund, which has an institutional hard cap of $8.5 billion.
The Singapore government and domestic GP Makara Capital have launched a S$1 billion ($716 million) private equity fund that will focus on intellectual property (IP)-driven companies.
SeedPlus Singapore, a Southeast Asia-focused seed fund run by Jungle Ventures, has closed its debut fund at S$25 million ($18 million).
Yi Capital, a Beijing-based VC firm founded by two former partners at CDH Investments, has closed its debut renminbi-denominated fund at RMB800 million ($116 million).
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.
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.
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.
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.
Vantage Asset Management has reached a first close of A$20 million ($15.2 million) on its third Australia-focused fund-of-funds. The vehicle, which launched in February 2016, has an overall target of A$100 million.