Articles by Tim Burroughs
Legend spin-out Joy Capital raises $200m for VC fund
Joy Capital, a Chinese venture capital firm that spun out from Legend Capital, has raised $200 million for its debut fund.
Go Scale agrees EV battery partnership with SPI Energy
Go Scale Capital, a technology-focused PE firm with links to GSR Ventures, has teamed up with US-listed solar power specialist SPI Energy on a $500 million project to build an electric vehicle (EV) battery projects business in China and globally.
Q&A: Tata Capital Growth Fund's Pramod Ahuja
Tata Capital currently manages five private equity funds across different strategies. Pramod Ahuja, a partner responsible for the firm’s $240 million growth vehicle, discusses the opportunity set
Korea's NPS allocates $605m to four local PE firms
South Korea’s National Pension Service (NPS) has allocated KRW700 billion ($605 million) to funds managed by domestic GPs VIG Partners, Skylake Investment, Lindemann Asia Investment and SG Private Equity.
DCM closes Asia-US fund at $500m hard cap
DCM has closed its latest global fund, which primarily targets investments in China and the US, at the hard cap of $500 million.
China opens local private funds space to foreign players
China has moved to open up its markets to overseas private fund managers by allowing wholly foreign-owned enterprises (WFOEs) and joint ventures to raise capital domestically and invest it in private companies and the stock markets.
KKR to part-exit China car dealership Rundong Auto
KKR will make a partial exit from Chinese car dealership China Greenland Rundong Auto as the company’s founder and president sealed agreements that will see him regain majority control and trigger a mandatory buyout offer.
China Everbright, IDG launch $3b M&A fund
China Everbright (CEL) and IDG Capital Partners have launched a joint M&A investment fund of at least RMB20 billion ($3 billion) in size that will support the growth of companies in China and overseas.
Navis seals healthcare deals in Indonesia, Vietnam
Navis Capital Partners has closed two Southeast Asia healthcare deals, with agreements to buy Indonesia-based medical devices distributor Tawada Healthcare and Vietnam’s Hanoi French Hospital.
Hahn & Co moves towards control of Korea's Ssangyong Cement
Korean GP Hahn & Company will assume majority control of Ssangyong Cement with the acquisition of a stake held by Japan-listed Taiheiyo Cement for KRW454.8 billion ($394 million).
RRJ, Carlyle-backed logistics player targets $434m HK IPO
A subsidiary of Chinese logistics player Shanghai Yupei Group, which is backed by RRJ Capital, The Carlyle Group, and Temasek Holdings, is looking to raise up to HK$3.36 billion ($434 million) through a Hong Kong IPO.
Intel Capital appoints Anthony Lin as Asia head
Intel Capital has named Anthony Lin, who has been with parent company Intel Corp’s M&A team since 2008, as managing director and head of Asia.
China consumer data analysis business gets $20m Series A
GrowingIO, a Chinese data analysis company founded by executives from LinkedIn’s business analytics division, has raised a $20 million Series A round from Matrix Partners China, NEA and Greylock Partners.
MSPEA backs India NBFC Five Star
Morgan Stanley Private Equity Asia (MSPEA) has invested INR1.14 billion ($16.9 million) in Five Star Business Finance, an India-based non-banking finance company (NBFC) that specializes in small ticket business and housing loans.
Japan succession: The long goodbye
As Masayoshi Son's recent about-turn on giving up the leadership of SoftBank suggests, Japanese founders of a certain age can be even less willing to consider succession than their younger peers
China Mobile fund leads $100m round for job site Liepin
A fund launched by China Mobile in partnership with the State Development & Investment Corporation (SDIC) has led a $100 million Series D round of funding for online recruitment services provider Liepin.com.
MBK makes partial exit as Komeda IPO raises $588m
MBK Partners has made a partial exit from Japan-based coffee shop chain Komeda Coffee after the company raised JPY60.2 billion ($588 million) through an IPO on the Tokyo Stock Exchange.
Carlyle re-lists Japan healthcare staffing business
The Carlyle Group has re-listed Solasto Corporation on the Tokyo Stock Exchange, four and a half years after privatizing the medical staffing business, which was previously known as NIC Corp.
Indonesia VC: Work in progress
As Indonesia’s start-up space matures, with ever more capital pouring in, VC players recognize that exits are the key to creating a sustainable investment environment. However, it is still early days
Deal focus: Asia-IO embraces machine learning
Asia-IO Advisors' strategic co-investment with Foxconn Technology Group has led to the creation of a systems integration specialist that will help manufactures embrace 'industry 4.0'
Ascendent supports buyout of HK-listed China Automation
Ascendent Capital Partners has teamed up with the chairman and founder of China Automation Group to invest HK$549.5 million ($70.8 million) in the Hong Kong-listed company, triggering a mandatory buyout offer.
Korea's Dongbu agrees $174m sale to Keystone
Keystone Private Equity has agreed to acquire distressed Korean construction company Dongbu Corporation for KRW206 billion ($174 million).
China Ming Yang Wind completes PE-backed take-private
Wind turbine manufacturer China Ming Yang Wind Power Group has delisted from the New York Stock Exchange following a take-private involving the company founder and several local private equity investors.
Rocket-backed frontier markets e-commerce platforms to merge
Two Asian frontier markets e-commerce platforms created by Rocket Internet – Daraz and Kaymu – have agreed to merge.