Articles by Tim Burroughs
Japan's Sumitomo Mitsui commits $1.5bn to Apollo
Japan’s Sumitomo Mitsui Trust Holdings has signed up to an alternatives co-investment program run by Apollo Global Management, taking the total capital raised from Asia-based LPs to more than USD 5bn.
Korean GP backs $1.5b buyout of US-listed Meridian Bioscience
SJL Partners, a Korea-based private equity firm that specialises in cross-border transactions, has teamed up with domestic in vitro diagnostics business SD Biosensor to acquire US-listed peer Meridian Bioscience for USD 1.53bn.
Korea's Kakao considers partial divestment of mobility spin-out
South Korean internet giant Kakao has indicated it may sell around 10% of Kakao Mobility, its transportation division, which has several private equity backers.
Accel-KKR targets Australia-listed SaaS player Damstra
Damstra Technology, a listed Australian software-as-a-service (SaaS) provider specialising in worker safety and risk management, has received an unsolicited buyout proposal from Accel-KKR.
Blackstone backs Australia, US clean commodities platform
The Blackstone Group has led a USD 400m investment in Xpansiv, an Australia and US-based marketplace for trading clean commodities such as carbon offsets, renewable energy credits (RECs), and low-carbon fuels.
Australian start-up wins backing for spider venom drug
Infensa Bioscience, a newly established Brisbane-based drug developer, has raised AUD 23m (USD 15.6m) in funding to support the licensing of a nascent treatment that uses spider venom to mitigate heart attacks and strokes.
Asia's Emerald Hill makes top 10 in global fund-of-funds ranking
Emerald Hill Capital Partners, which closed its last fund in 2014 and decided against raising a successor vehicle several years ago, is the sole Asian representative in the top 10 of a global fund-of-funds performance ranking compiled by business school...
Deal focus: CDH plays Asia wellness card
CDH Investments turned The Better Health Company from a New Zealand-only player into a brand with regional recognition. COVID-19 proved a minor obstacle to an ultimately successful trade sale
Australia tech: Valuation conundrum
Valuation adjustments and down rounds are expected to proliferate in Australia’s technology sector in the next 12 months. Investors are busy scrutinising business models for signs of vulnerability
Sequoia raises $8.8b for China funds
Sequoia Capital has hit the hard cap on each of the four funds in its latest China vintage, accumulating USD 8.8bn for deployment in seed through late-growth rounds.
India start-up financier GetVantage raises $36m
GetVantage, a provider of revenue-based financing to Indian start-ups, has secured USD 36m in funding led by Varanium Nexgen Fintech Fund, DMI Sparkle Fund, Chiratae Ventures, and Dream Incubator Japan.
Baring Asia exits Cath Kidston to UK turnaround investor
Baring Private Equity Asia (BPEA) has exited Cath Kidston, a UK lifestyle retailer that underwent a restructuring during the initial phase of COVID-19, to turnaround investor Hilco Capital.
Tough funding terms can hinder start-up growth - forum
Imposing punitive terms on founders in response to governance concerns can prove counterproductive to long-term growth as start-ups move through funding rounds and stipulations intensify, a Singapore Venture Capital & Private Equity Association (SVCA)...
Singapore-based Timothy Zee leaves PAG
Timothy Zee, a Singapore-based managing director with PAG whose primary responsibilities included deal sourcing and business development, has left the firm after 10 years.
CDH exits New Zealand supplements brand to Nestle
CDH Investments has agreed to sell New Zealand-based supplements manufacturer The Better Health Company (TBHC) to Nestlé Health Science for an undisclosed sum.
Panthera hits first close on India, Southeast Asia fund
India and Southeast Asia-focused Panthera Growth Partners has reached a first close on its second fund with commitments amounting to more than half the overall target of USD 250m.
Karthik Prabhakar to leave India's Chiratae Ventures
Karthik Prabhakar, who joined Chiratae Ventures – then IDG Ventures India – as a senior analyst in 2011 and rose to the level of managing director and head of global fundraising, has announced his departure from the firm.
AVCJ daily bulletin returns July 4
AVCJ’s daily bulletin will not be published on July 1 due to a public holiday marking the establishment of the Hong Kong Special Administrative Region.
Portfolio: Welkin Capital and Shawya
Shawya is a fast-rising Chinese direct-to-consumer brand that takes a technology-driven approach to skincare. Welkin Capital is helping it address growing pains around talent and omnichannel capabilities
KKR's Greater China head transitions to advisor role
Paul Yang, KKR’s Greater China head, is moving to an advisory role as the private equity firm looks to appoint a replacement based full-time in mainland China.
Carlyle makes growth investment in India's Varmora Granito
The Carlyle Group has acquired a significant minority stake in Varmora Granito, an India-based manufacturer of tiles, bathware, and sanitaryware products, for an undisclosed sum.
Fund focus: LGT eyes a buying opportunity
As LGT Capital Partners starts deploying its USD 1.65bn Asia fund-of-funds, it hopes that rationalising valuations and some consolidation of GP relationships will contribute to a strong vintage
Southeast Asia logistics player Deliveree raises $80m
Gobi Partners and SPIL Ventures – the corporate venture capital arm of shipping business Salam Pacific Indonesia Lines – have led a USD 70m Series C round for Southeast Asia-focused logistics marketplace Deliveree.
India's Zomato buys PE-backed Blinkit for $567m
India-based online food services platform Zomato has agreed to acquire Blinkit – a private equity-backed quick commerce start-up formerly known as Grofers – for INR 44.5bn (USD 567m).