Articles by Justin Niessner
Japan's MPower backs pet devices maker
Japan’s MPower Partners, which was set up last year to make environmental, social, and governance (ESG) investments, has joined a USD 10.5m Series B round for local pet devices maker Rabo.
Korea Web3 gaming platform gets $34m
Krust Universe, a start-up incubation and investment unit of Korean internet giant Kakao, has led a USD 34m round for local Web3 gaming platform Iskra.
India's Omnivore launches $130m agtech VC fund
India’s Omnivore Partners has launched its third domestic agricultural technology VC fund with a target of USD 130m.
Japan's Drone Fund closes third vintage on $85m
Japan’s Drone Fund has closed its third air mobility-dedicated vehicle at JPY 10.5bn (USD 85m), beating a target of JPY 10bn.
Aavishkaar hits $130m first close on latest India impact fund
Aavishkaar Capital has reached a first close of INR 10bn (USD 130m) on its latest India impact fund. It is reportedly targeting a final close of USD 200m.
CPPIB leads $805m round for India's VerSe
Canada Pension Plan Investment Board (CPPIB) has led a USD 805m Series J round for India’s Verse Innovation, parent of media apps Dailyhunt and Josh. It is said to value the company at USD 5bn.
Fund focus: India’s HealthQuad bulks up for Fund II
Indian health-tech VC firm HealthQuad has achieved a quantum leap in capacity to invest with its second vintage as foreign capital discovers the local opportunity set and thinks globally about impact
Multiples leads $111m Series D for India NBFC
Multiples Private Equity has agreed to lead a INR 8.7bn (USD 111m) Series D round for India’s Kogta Financial, a non-bank financing company (NBFC) specialising in used vehicles and micro businesses.
East Ventures names new managing partner
Indonesia’s East Ventures has promoted Wai Kit Koh, one of the founders of Temasek Holdings’ Pavilion Capital, to managing partner.
Deal focus: India EV set for mass mobility boom
India’s EverSource Capital sees a fast track to auto industry electrification in the B2B fleet services of Lithium Urban Technologies. The company plans more than fivefold growth in the next few years
LP interview: Hyundai Marine & Fire Insurance
Innchul Oh, a senior manager with Hyundai Marine & Fire Insurance, approaches international private equity with a brand of risk wariness that currently favours venture over buyouts. Generalist GPs are lamented as a dying breed
India’s LC Nueva hits first close on debut VC fund
LC Nueva Investment Partners, a partnership between Singapore’s Lighthouse Canton and India’s Nueva Capital, has hit a first close of about USD 30m on its debut VC fund. The target is USD 40m.
Deal focus: India e-sports early-mover makes waves
Loco is positioned to take a leadership role in India’s up-for-grabs game streaming industry following a sizeable Series A round and promising early traction in community building
BNPL: Voodoo economics?
Credit-driven e-commerce is coming to developing Asia with an attractive supply-demand equation and a mix of macro and business-level risks. Start-ups are courting incumbents, not disrupting them
Inflection Point seeks $50m for India early-stage fund
India’s Inflection Point Ventures, an early-stage investment platform with about 2,000 angel members, has launched a fund with an initial target of USD 50m.
India's EverSource acquires local EV fleet operator
India’s EverSource Capital has acquired a majority stake in Lithium Urban Technologies, a local electric vehicle (EV) fleet and charging infrastructure operator, for an undisclosed sum.
EQT buys China pest control business
EQT Private Equity Asia has acquired majority stake in Guardian Hygiene Service, China’s largest domestic pest control company, for an undisclosed sum. It facilitates a full exit for Jade Invest.
Temasek's Seatown targets mass affluent with latest fund
Seatown Holdings International, an affiliate of Singapore’s Temasek Holdings, will welcome commitments as small as USD 100,000 from mass affluent investors in its latest fund.
Deal focus: Bazaar, Zayn encapsulate Pakistan’s breakout moment
Bazaar, a B2B logistics and financial services start-up, is putting Pakistan on the map for brand-name global VC investors for the first time. One of its key local backers, Zayn Capital, is doing the same
Q&A: Amasia’s John Kim
John Kim, co-founder of Singapore and US-based Amasia, explains how a climate impact thesis “swallowed up” his generalist VC firm and shifted its focus from technology to behaviour
AppWorks targets $360m for Fund IV, launches Web3 arm
Taiwan-based VC firm and accelerator AppWorks has established a dedicated Web3 arm and plans to launch its fourth flagship fund with a target of USD 360m in the second quarter of 2022.
PE-owned Belle Fashion files for Hong Kong IPO
China’s largest women’s footwear retailer Belle Fashion, which is backed by Hillhouse Capital and CDH Investments, has filed for a Hong Kong IPO with a reported target of USD 1bn.
Brookfield buys Australia non-bank lender for $1.1b
Brookfield Asset Management has agreed to acquire Australian non-bank lender and asset manager La Trobe Financial for about USD 1.1bn, facilitating an exit for The Blackstone Group.
Index, Coatue lead $110m round for Australia's Linktree
Index Ventures and Coatue Management have led a USD 110m round for Linktree, an Australian social media platform that drives audience engagement, at a valuation of USD 1.3bn.