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.
Neuberger Berman has established an onshore investment management business in China that is expected to enable the firm to distribute private fund products to local clients.
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.
China's Haiyin Capital and the US-based National Council of Entrepreneurial Tech Transfer (NCET2) have jointly launched a VC fund to provide capital to start-ups formed at American universities.
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.
AVCJ's daily bulletin will take a short break for the Easter holiday. Publication will resume on April 18.
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.
Japan’s Government Pension Investment Fund (GPIF) has made its first call for applications from alternatives managers, with a view to backing fund-of-funds across private equity, infrastructure and real estate.
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.
New Zealand Superannuation Fund (NZ Super) has participated in a NZ$247 million ($172 million) investment in Kiwibank, a banking and finance services provider controlled by New Zealand Post.
First Super, an Australian pension fund that represents workers in the timber, pulp and paper and furniture and joinery industries, has suspended its PE investment program over concerns about poor labor practices in portfolio companies.
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.
Vietnam-based private equity firm Dragon Capital has made its first investment in Myanmar, teaming up with a local strategic partner to seed a Yangon-based microfinance services business.
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.
The increases in private equity compensation seen at all levels in recent years appear to be abating, with only about one third of industry professionals reporting a jump in base salary in 2016 over the previous year.
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.
AVCJ's daily bulletin will not be published on April 4 due to a public holiday in Hong Kong for the Ching Ming Festival.