Articles by Tim Burroughs
India B2C messaging start-up Gupshup raises $240m
Gupshup, an India-based messaging services provider, has received $240 million from Fidelity, Think Investments, Malabar Investments, Harbor Spring Capital, Neuberger Berman, and White Oak.
Accel leads Series C top-up for India's MyGlamm
Accel has led a Series C top-up for MyGlamm, an India-based direct-to-consumer (DTC) beauty products marketplace, taking the overall round to INR5.3 billion ($71.1 million).
Deal focus: IMM sees structural change in home decor
Having agreed to provide a succession solution to the founder of Korean furniture retailer and interior designer Hanssem, IMM Private Equity wants to harness growth through demographics and differentiation
India IPOs: A pleasant surprise
The lack of a reliable IPO channel is a longstanding exit obstacle for venture capital investors in India. Domestic listings may, unexpectedly, prove to be the answer
Allegro-owned retailer completes $44m Australia IPO
Best & Less Group (BLG), an Australian baby, kids and womenswear retailer, has raised A$60 million ($44 million) through a domestic IPO, facilitating a partial exit for majority owner Allegro Funds Group.
PAG acquires Indian CDMO Acme for $145m
PAG has acquired a controlling stake in Acme Formulation Private, an India-based contract development and manufacturing organization (CDMO), for approximately $145 million.
Asia Partners, Falcon Edge back Indonesia's GudangAda
Asia Partners and Falcon Eduge Capital have led a $100 million Series B round for GudangAda, an Indonesian online marketplace that targets wholesale and small-scale retailers.
Singapore's PropertyGuru set for $1.35b SPAC merger
PropertyGuru, a PE-backed Southeast Asia real estate portal, has agreed to merge with a special purpose acquisition company (SPAC) established by Peter Thiel and Richard Li, son of Hong Kong billionaire Li-ka Shing, for an enterprise valuation of $1.35...
Hong Kong sees rush of VC-backed biotech IPO filings
Five VC-backed pre-revenue Chinese biotech companies have filed to list in Hong Kong over the past two weeks, doubling the size of the IPO pipeline in this category.
J-GIA carves out furniture business from Japan's Seven & i
Japan Growth Investments Alliance (J-GIA) has agreed to buy a majority stake in furniture and home décor business Francfranc – which has stores in Japan and Hong Kong – from Seven & i Holdings, the parent of 7-Eleven.
Hong Kong-based crypto exchange FTX raises $900m
FTX, a Hong Kong-headquartered cryptocurrency exchange, has raised $900 million in Series B funding at a valuation of $18 billion, up from $1.2 billion on closing the Series A last year.
Ince hits $450m first close on second China VC fund
Ince Capital, a Chinese venture capital firm established by J.P. Gan, formerly a managing partner at Qiming Venture Partners, has achieved a first close of approximately $450 million on its second fund.
India's HealthifyMe closes $75m Series C
LeapFrong Investments and Khosla Ventures have led a $75 million Series C round for HealthifyMe, a mobile health and fitness app operator with a presence in India and Southeast Asia.
Tiger Global, Avenir lead $108m round for India's Spinny
Spinny, an Indian online used car marketplace, has raised $108 million in Series D funding led by Tiger Global Management and US-based investor Avenir Growth.
Vision Fund, Prosus lead $1.25b round for India's Swiggy
SoftBank Vision Fund 2 and Prosus Ventures have led a $1.25 billion funding round for Swiggy, an India-based on-demand delivery platform.
Australia LPs: Revert to the mean
Engagement, efficiency, and accountability are the driving forces behind reforms to Australia’s superannuation system. But could private equity lose out in a race to the middle on returns?
PatPat raises $510m across Series C, D rounds
PatPat, a Chinese-founded children’s wear brand that claims to be the world’s largest direct-to-consumer (DTC) player in its segment, has raised $510 million across two rounds of funding.
Tech investment surges in India, SE Asia as China plummets
A drop-off in PE and VC technology investment in China in the second quarter of 2021 – widely linked to a multi-faceted regulatory crackdown on the sector – was to some extent counterbalanced by record levels of activity in India and Southeast Asia.
Sherpa Healthcare leads Series A for Paq Therapeutics
Sherpa Healthcare Partners has led a $30 million Series A for Paq Therapeutics, a Chinese-founded biotech company specializing in treatments based on molecules that enhance the degradation of disease-causing entities.
Creador hits $500m first close on Fund V
Creador has reached a first close of $500 million on its fifth South and Southeast Asia-focused fund, with the first three investments set for completion in August.
Vision Fund commits $1.7b to Korean travel start-up Yanolja
Yanolja, which claims to be South Korea’s only travel industry unicorn, has received $1.7 billion from SoftBank Vision Fund 2. There are no other investors in the round.
Hong Kong last-mile delivery player Gogox raises $100m
Gogox, a Hong Kong-headquartered last-mile logistics company formerly known as GoGoVan, has raised $100 million in funding led by the international arm of China Bank of Communications and Cyberport Macro Fund.
VC-backed Mobikwik files for India IPO
Indian digital payments provider Mobikwik is looking to raise up to INR19 billion ($255 million) through a domestic IPO that would facilitate partial exits for a string of investors.
Boyu stands out in weak quarter for private equity fundraising
A quickfire fundraise by Boyu Capital – which saw $6 billion collected across two pools of capital in the space of a few months – accounted for more than one-quarter of all capital committed to Asia-focused private equity managers between April and June....