Articles by Tim Burroughs
Future Fund promotes private equity head to deputy CIO
Alicia Gregory, head of private equity at Australia’s Future Fund, has been promoted to deputy CIO with responsibility for private markets.
PE-backed Gogox sinks on debut after $98m Hong Kong IPO
Gogox, a last-mile logistics company formed through the merger of Hong Kong's GoGoVan and an affiliate of mainland China-based 58.com, fell 22% on its Hong Kong trading debut following a HKD 771.4 (USD 98.3m) IPO.
Fund focus: Re-ups underpin FountainVest's Fund IV close
Despite headwinds that have afflicted all China-focused managers, FountainVest Partners closed its fourth fund just above target on USD 2.9bn. One-third of the corpus has already been deployed
PAG's Hong Kong IPO on hold amid weak market
Asia-focused private equity firm PAG has put its Hong Kong IPO on hold, three sources familiar with the situation told Mergermarket, AVCJ’s sister title.
GPs must adapt to raise capital from HNWIs - AVCJ Forum
Australia’s high net worth individuals (HNWIs) are becoming a more important source of capital for mid-market private equity firms as superannuation funds face minimum cheque size constraints, but tapping this fundraising channel requires understanding...
LGT raises $1.65b for Asia fund-of-funds
LGT Capital Partners has closed its fifth Asia-focused fund-of-funds with USD 1.65bn in commitments, up from approximately USD 1bn in the previous vintage.
Platinum Equity buys Hong Kong lingerie business Hop Lun
US-based private equity firm Platinum Equity has agreed to acquire Hop Lun, a Hong Kong-headquartered producer of fashion lingerie and swimwear that serves a global client base.
India-focused neobank Stashfin raises $270m
Stashfin, a Singapore-based neobank that primarily operates in India, has raised USD 70m in equity funding – and secured a further USD 200m in debt – as part of a Series C round.
L Catterton seals $360m Asia strip sale
A Hamilton Lane-led consortium has agreed to support a USD 360m continuation fund comprising structured minority interests in investments held by consumer sector specialist L Catterton’s third Asian fund.
Deal focus: Software Combined sees sense in aggregation
Backed by majority owner Navis Capital Partners, Australia-based Software Combined wants to reach up to USD 35m of EBITDA within three years through acquisitions of smaller B2B players
Deal focus: Pakistan's Dastgyr aspires to emulate Alibaba
SOSV sees parallels between the e-commerce awakenings in Pakistan and China, though 20 years apart. Dastgyr has positioned itself at the fore, but it wants to be asset-light rather than asset-heavy
Fund focus: LPs endorse Potentia's software thesis
Potentia Capital took just four months to close its second fund on USD 438m, emphasizing the growing appeal of B2B technology opportunities in Australia and New Zealand
Infrastructure funds move towards software - Infralogic Forum
Software providers are set to become targets for infrastructure investors, provided companies can demonstrate sufficient customer stickiness to underpin consistent revenue streams, the Australia Infralogic Investors Forum heard.
Legend axes consumer from latest China TMT fund
Legend Capital has excluded the consumer-facing segment from its latest China technology, media, and telecom (TMT) fund, reflecting a broader sense of uncertainty among local managers regarding the regulatory environment.
Clifford Chance poaches Asia funds partner from Kirkland
Clifford Chance has bolstered its Asia private funds offering with the recruitment of Liyong Xing, formerly a partner at Kirkland & Ellis.
India payments player Innoviti expands Series D to $22m
India-based financial technology start-up Innoviti Payment Solutions has doubled the size of its ongoing Series D round to more than INR 1.6bn (USD 22.5m). The overall target is USD 3bn.
India's 8i Ventures seeks $50m for Fund II
8i Ventures, an India-based early-stage venture capital firm that recently made a partial exit from software supplier M2P Fintech with a 36x return, is targeting USD 50m for its second fund.
Pakistan B2B marketplace Dastgyr secures $37m Series A
Dastgyr, a Pakistan-based B2B e-commerce marketplace, has raised USD 37m in Series A funding led by Veon, an Amsterdam-listed telecom provider that owns Pakistan’s largest mobile network.
Japan's Aspirant buys beauty brand John Masters Organics
Japanese middle-market private equity firm Aspirant Group has agreed to acquire John Masters Organics (JMO), a personal care brand with a sizeable presence in East Asia, for an undisclosed sum.
Tencent, Block join Series B for Indonesia's Flip
Indonesian consumer payments platform Flip has upsized its Series B round to more than USD 100m with the addition of Tencent Holdings and Block – formerly Square – to the investor roster and re-up from Insight Partners.
Sequoia raises $2.85b for India, Southeast Asia
Sequoia Capital has raised USD 2.85bn for its latest set of India and Southeast Asia-focused funds, which includes the firm’s first-ever dedicated Southeast Asia vehicle.
Deal focus: Hahn finds rich pickings in SK Group
Hahn & Company’s USD 1.3bn acquisition of an industrial materials unit from SKC is its fifth deal involving SK Group in four years. Being a good custodian is regarded as key to securing repeat business
Crypto: Something for everyone?
Traditional VCs are becoming more active in Asia’s blockchain and web3 space, despite structural and philosophical obstacles to participation. Can they withstand the crypto winter?
Circle buys VC-backed Taiwan crypto infrastructure platform
Cybavo, a Taiwan-based crypto technology player that provides platforms for digital asset custody and blockchain application development, has agreed to be acquired by US digital currency specialist Circle for an undisclosed sum.