Articles by Tim Burroughs
LPs emphasize differentiation in China venture capital
LPs want to back Chinese venture capital firms that are differentiated from their peers, although there remains an element of discomfort with efforts to achieve this through increasingly popular China-plus strategies.
Carlyle forms Australia, New Zealand private credit joint venture
The Carlyle Group has broadened its Asia private credit coverage through the establishment of a joint venture with Australia-based credit investor and corporate advisory firm Amicaa.
Investors call on Hong Kong to prioritise talent retention, innovation
Hong Kong must deploy a series of initiatives around talent retention and the fostering of innovation if it is to remain competitive as a financial hub within Asia, the Hong Kong Venture Capital & Private Equity Association’s (HKVCA) China forum heard....
Prosperity7 backs China-founded unstructured data specialist Zilliz
Prosperity7 Ventures, a venture capital fund established by Saudi Arabia state oil giant Saudi Aramco, has led a USD 60m Series B extension for China-founded open-source software developer Zilliz.
Keppel buys Singapore waste management player 800 Super
Keppel Corporation has purchased a majority interest in Singapore waste management services business 800 Super Holdings, which was delisted in 2019 through a KKR-backed take-private, at a valuation of SGD 380m (USD 273m).
Fundamentum raises $227m for India growth-stage tech fund
The Fundamentum Partnership, an India-based growth-stage technology investment firm established by Infosys co-founder Nandan Nilekani and Helion Venture Partners co-founder Sanjeev Aggarwal, has closed its second fund on USD 227m.
China luxury goods player Secoo gets private equity bailout
Secoo Holding, a US-listed Chinese luxury goods retailer that has seen its stock price fall by 95% since the start of 2020 and has filed for bankruptcy twice in the past eight months, has received USD 4m in funding.
Australia's PEP buys traffic management business
Pacific Equity Partners (PEP) has acquired a majority stake in Altus Group, which claims to be Australia’s largest provider of traffic management services.
Korea's KIC names Hoon Lee as CIO
Korea Investment Corporation (KIC) has appointed Hoon Lee, previously head of its investment strategy and innovation division, as CIO.
China Merchants Group backs CDMO player Porton Advanced
Three entities under China Merchants Group (CMG) have led a USD 80m Series B round for Porton Advanced Solutions, a local contract development and manufacturing organisation (CDMO) that focuses solely on gene and cell therapy services.
Blackstone part-exits Indian auto components maker
The Blackstone Group has realised proceeds of INR 40.4bn (USD 506m) through a partial exit from Sona Comstar, an India-listed manufacturer of automotive systems and components that trades as Sona BLW Precision Forgings.
PE-backed Korean ride-sharing player Socar drops on debut
Socar, a Korea-based car-sharing business backed by the likes of Bain Capital, IMM Private Equity, and SoftBank Ventures Asia, traded down on debut following a KRW 101.9bn (USD 76m) IPO.
AVCJ Awards 2022 - nominations have closed
Nominations for the 2022 AVCJ Private Equity & Venture Capital Awards have now closed. Many thanks to all those who participated.
Taiwan's Cherubic closes $110m VC fund
Cherubic Ventures, which makes early-stage investments in Asia and the US, has closed its fifth fund with USD 110m in commitments. Total assets under management now exceed USD 400m.
Tiger Global leads Series B for India savings platform Jar
Tiger Global Management has led a USD 22.6m Series B round for ChangeJar Technologies, operator of India-based savings and investment app Jar, at a valuation of more than USD 300m.
Korea's Kakao abandons plans for mobility unit stake sale
South Korean internet giant Kakao has abandoned plans to partially divest Kakao Mobility, its transportation division.
Korea start-up equity management platform raises $11m
QuotaBook, a South Korea-based equity management platform that helps start-ups organise their cap tables, has received USD 11m in the second tranche of a Series A round.
China carmaker SAIC raises $148m for mobility unit
Chinese carmaker SAIC Motor has raised CNY 1bn (USD 148m) to support the expansion of its mobile services unit, which last year launched a fleet of robotaxis.
KKR makes $1.2b exit from Indian hospital chain
KKR has exited its entire interest in Indian hospital operator Max Healthcare Institute – nearly four years after assuming control of the business by merging it with an existing portfolio company – with proceeds of approximately INR 91.9bn (USD 1.15bn)....
C2 invests $25m in Eat Just to support China expansion
C2 Capital Partners, a China-based private equity firm that focuses on consumer sector investments, has committed USD 25m to Eat Just, owner of plant-based egg brand Just Egg.
Energy transition case study: The Arnott's Group
Having acquired Australian snacks producer The Arnott’s Group under its long-dated strategy, KKR hopes to make an enduring impact on sustainable sourcing and energy conservation
Energy transition case study: Beyonics
Precision manufacturer Beyonics has cut back on truck journeys, switched to gas-fired power, and automated its factories – in the pursuit of efficiencies rather than as part of a specific energy agenda
Energy transition case study: Towngas Smart Energy
Towngas Smart Energy wants to offer solar and energy management solutions to its existing piped gas customers across China’s industrial parks. Affinity Equity Partners is supporting the rollout
Partners Group appoints Japan private equity head
Partners Group has initiated full-scale coverage of Japan’s private equity market with the recruitment of Tatsuya Ochi to lead local operations for the asset class.