Articles by Tim Burroughs
China's TuSimple trades flat after $1.3b US IPO
TuSimple, a China and US-based developer of autonomous driving technology for trucks, traded flat on debut following a $1.35 billion IPO at a market capitalization of $8.5 billion.
Alpha JWC seeks $250m for third Indonesia VC fund
Alpha JWC Ventures is targeting $250 million for its third Indonesia-focused venture capital fund, with the International Finance Corporation (IFC) proposing a commitment of up to $20 million.
Kakao spins out online fashion unit, buys VC-backed Zigzag
Korean internet company Kakao Corporation has spun out its fashion e-commerce business as an independent entity and merged it with Zigzag, a VC-backed local fashion marketplace.
Australia's Quadrant loses growth fund head
Justin Ryan, a managing partner at Quadrant Private Equity and latterly head of the Australian firm’s growth strategy, is stepping back from day-to-day investment activity.
KKR joins $61m round for Japan's Netstars
KKR has contributed JPY4 billion ($37 million) to a JPY6.6 billion funding round for Netstars, a Japanese QR code payment gateway operator. SIG and Lun Partners, a Hong Kong-based global financial technology investor, also took part.
Southeast Asia's Grab to merge with SPAC at $30.4b valuation
Southeast Asia-focused ride hailing and local services platform Grab has agreed to go public in the US through a merger with a special purpose acquisition vehicle (SPAC) at an enterprise valuation of $30.4 billion.
1Q analysis: American dreams
New York makes an unexpected reappearance as the preferred IPO destination for Asian companies; the growth-stage tech investment revival continues; KKR lights up lackluster fundraising environment
Korea retail: Digital or dead?
Coupang’s bumper IPO has underlined the appeal of a Korean e-commerce industry characterized by chaebols playing catch-up and PE and VC investors looking to profit at the margins
Affirma hits first close on Korea fund, backs SK mapping spinout
Affirma Capital has reached a first close of KRW443 billion ($403 million) on its fifth Korea-focused fund, while simultaneously announcing a $181 million investment in SK Telecom’s mobility business.
PE-backed Brii Bioscience pursues Hong Kong listing
Brii Biosciences, a three-year-old Chinese biotech start-up that has raised approximately $415 million in private funding from the likes of Sequoia Capital China, Boyu Capital, and Yunfeng Capital, has filed for a Hong Kong IPO.
Tiger Global leads $100m round for India's Gupshup
Gupshup, an India-based messaging services provider that helps corporate customers execute marketing strategies, has raised $100 million in funding at a valuation of $1.4 billion.
Indonesia e-commerce platform Orami sold to local strategic
Orami, an Indonesian mother-and-baby-focused e-commerce platform backed by numerous venture capital investors, has been acquired by Sirclo, a local e-commerce enabler. Financial details were not disclosed.
Baring Asia invests $100m in Hutchison China MediTech
Baring Private Equity Asia has invested $100 million in Hutchison China MediTech (HutchMed), a US and London-listed drug discovery business that has two fully commercialized oncology products in China.
Hosen raises $800m for latest China food fund
China-based food and agriculture specialist Hosen Capital has closed its third US dollar-denominated fund above target at $800 million.
Vision Fund, BlackRock lead Series D for Singapore's Trax
Trax, a Singapore-headquartered start-up that uses computer vision technology to help retailers link sales to in-store and on-shelf positioning, has secured $640 million in Series E funding led by SoftBank Vision Fund 2 and BlackRock.
CVC proposes acquisition of Japan's Toshiba
Toshiba Corporation has confirmed it received a buyout offer from CVC Capital Partners. Based on a reported valuation of $20 billion, it would be the largest acquisition by a private equity firm in Asia.
Creador exits Indian pharma player to ChrysCapital
Creador has completed a third exit – with a 3.7x multiple and a 32% IRR – from its third South and Southeast Asia-focused fund, selling a minority position in Indian pharmaceutical company Corona Remedies to ChrysCapital.
L Catterton invests $182m in Japanese healthcare business
L Catterton has invested JPY20 billion ($182 million) in PHC Holdings Corporation, a Japanese healthcare business – formerly known as Panasonic Healthcare – backed by KKR.
KKR reaches $15b final close on fourth Asian fund
KKR has closed its fourth pan-Asian fund at $15 billion – the largest US dollar-denominated private equity vehicle ever raised for the region and the largest raised by KKR globally by number of LPs.
China's Source Code confirms $1b close on US dollar funds
Source Code Capital has confirmed a final close of $1 billion on its latest set of US dollar-denominated funds, which takes the Chinese venture capital firm’s total assets under management to $2.5 billion.
Japan payments start-up Paidy closes $120m Series D
Japanese payments start-up Paidy has raised $120 million in Series D funding from JS Capital Management, Soros Capital Management, Tybourne Capital Management, and Wellington Management.
FountainVest, ClearVue back China self-driving truck player
FountainVest Partners and ClearVue Partners have led a $220 million funding round for Plus, a China-based autonomous driving technology developer that specializes in trucks.
Trustar to launch China growth strategy
Trustar Capital, a Chinese middle-market private equity firm until recently known as CITIC Capital, is complementing its flagship buyout strategy with a growth capital-oriented fund.
Qingsong raises $153m for fourth China VC fund
Qingsong Fund, a Chinese venture capital firm formed by Xiaosong Liu, an angel investor and co-founder of Tencent Holdings, has closed its fourth renminbi-denominated fund with RMB1 billion ($153 million).