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Tim Burroughs

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Articles by Tim Burroughs

seed-funding-venture-money-plant-03
MDI merges SE Asia programmes, launches $200m fund

MDI Ventures, an investment firm supported by Telkom Indonesia, has merged two existing programmes to form Ascent Venture Group, which is looking to raise USD 200m for deployment in Southeast Asia.

  • Southeast Asia
  • 14 September 2023
ecommerce-online-shopping-8
Jungle, Openspace back Singapore e-commerce services player

Singapore-based e-commerce services provider Amp, which was founded by the team behind inventory and order management platform TradeGecko, has raised USD 18.5m in Series A funding.

  • Southeast Asia
  • 14 September 2023
insurance-health-travel-life-car-home
Japanese insurer ups stake in PE-backed Singapore Life

Sumitomo Life will become the largest shareholder in Singapore Life (Singlife) – an insurer also backed by TPG Capital – having agreed to acquire Aviva’s 25.9% stake in the business for GBP 800m (USD 999m).

  • Southeast Asia
  • 14 September 2023
avcj-china-2023-private-equity
China GPs seek global angles as domestic deployment slows - AVCJ Forum

Global expansion remains a bright spot in China’s investment landscape as private equity firms slow deployment domestically in favour of supporting China-related entrepreneurs or business concepts in other markets, the AVCJ Private Equity & Venture...

  • Greater China
  • 13 September 2023
southeast-asia-map
Vertex raises $541m for Southeast Asia, India

Vertex Ventures Southeast Asia and India (VVSEAI), an early-stage investor affiliated with Temasek Holdings-owned Vertex Holdings, has closed its fifth fund with USD 541m in commitments.

  • Southeast Asia
  • 13 September 2023
dollar-money-bills-table
Hong Kong's C Capital secures $250m for latest PE fund

C Capital, an investment firm established by Adrian Cheng, scion of Hong Kong’s New World Development, has closed its latest private equity fund with around USD 250m in commitments.

  • Greater China
  • 13 September 2023
juan-delgado-moreira-hamilton-lane
Juan Delgado-Moreira named co-CEO of Hamilton Lane

Juan Delgado-Moreira, currently a Hong Kong-based vice chair at private markets specialist Hamilton Lane, has been promoted to co-CEO of the firm.

  • LPs
  • 13 September 2023
khailee-ng-500-2
Fund focus: 500 Global scales up in Southeast Asia

By investing early and building a diversified portfolio, 500 Global emerged from the technology valuation corrections somewhat unscathed. This gave the firm impetus when raising its third Southeast Asia fund

  • Southeast Asia
  • 13 September 2023
china-usa-blocks
Deal focus: ShawKwei delivers US deal flow

ShawKwei & Partners found its niche in Asia-based industrials businesses with relative cost advantages. Thanks to geopolitics and shifting growth patterns, the GP is now targeting assets in North America

  • North America
  • 12 September 2023
education-test-maths
Portfolio: Gaja Capital and India’s Educational Initiatives

Educational Initiatives was not part of India’s pandemic-driven ed-tech explosion. The PE-owned company emerged from the chaos having reaffirmed its sustainable, school-facing business model

  • South Asia
  • 12 September 2023
avcj-china-2023-consumer
Investors bullish on China consumer - AVCJ Forum

China’s consumer sector is poised for one of its most lucrative vintages with investors able to take advantage of falling valuations, the AVCJ Private Equity & Venture Forum China 2023 heard.

  • Greater China
  • 12 September 2023
protege-ventures-smu
Singapore student-run VC programme launches new fund

Protégé Ventures (PV), a student-run venture fund programme set up by the Singapore Management University Institute of Innovation & Entrepreneurship (SMU IIE) has launched a second fund of SGD 500,000 (USD 367,000).

  • Southeast Asia
  • 12 September 2023
veterinary-clinic-pet
L Catterton enters Japan's veterinary services space

L Catterton’s interest in Asian pet food and services has stretched from China to India and now Japan with a commitment of undisclosed size to Withmal, a Japanese veterinary services group.

  • North Asia
  • 12 September 2023
consumer-retail-shopping-grocery
KKR commits an additional $250m to India's Reliance Retail

KKR has agreed to re-up in India’s Reliance Retail, committing another INR 20.6bn (USD 250m) on top of the INR 55bn it put into the neighbourhood store-to-supermarket operator three years ago.

  • South Asia
  • 12 September 2023
avcj-china-2023-healthcare
Innovation can end China's healthcare downcycle - AVCJ Forum

Investors in Chinese healthcare are looking for innovators with global competencies to lead an industry recovery following a challenging past 12 months, the AVCJ Private Equity & Venture Forum China 2023 heard.

  • Greater China
  • 11 September 2023
healthcare-lab-pharma-drug-biotech
CICC leads $60m Series B for China's Grit Biotechnology

CICC Capital had led a USD 60m Series B round for Grit Biotechnology, a Shanghai-based drug developer that is working on pioneering cancer treatments involving tumour-infiltrating lymphocytes (LIT).

  • Greater China
  • 11 September 2023
energy-use-map-electricity
IFM backs New Zealand energy SaaS platform Tally

IFM Investors has committed approximately NZD 50m (USD 29m) to New Zealand-based energy sector software provider Tally Group alongside existing investors SilverTree Equity and Pioneer Capital.

  • Australasia
  • 11 September 2023
steel
PE-backed Zhaogang to list via Hong Kong SPAC merger

Zhaogang, a private equity-backed Chinese B2B steel-trading platform, is on course to become the first company to list in Hong Kong through a merger with a special purpose acquisition company (SPAC).

  • Greater China
  • 08 September 2023
worker-hard-hat-safety-construction
Apollo continues to trim stake in Australia's Ventia

Apollo Global Management has made its third partial exit this year from Australia-based Ventia Services Group – a maintenance services business carved out from Leighton Holdings in 2014 – with approximately AUD 240m (USD 153m) in proceeds.

  • Australasia
  • 08 September 2023
pills-drugs-pharma-2
KKR agrees China pharmacy acquisition

KKR has agreed to acquire a majority stake in Chinese pharmacy chain Ruirentang Pharmaceutical Group, according to a filing by a local regulator.

  • Greater China
  • 07 September 2023
mcdonalds-china
Carlyle, Trustar pursue partial exit, rollover of McDonald's China

The Carlyle Group and Trustar Capital, private equity owners of McDonald’s China, are poised to abandon plans for a single asset continuation fund in favour of exiting part of their holdings and rolling over the rest into other funds.

  • Greater China
  • 07 September 2023
semiconductor-chip-pcb-circuit-board
China's GTA Semiconductor raises $1.85b

GTA Semiconductor, a China-based semiconductor foundry specialising in chips for the automotive industry, has raised CNY 13.5bn (USD 1.85bn) in funding from unnamed investors.

  • Greater China
  • 07 September 2023
australia-globe-map
Australia's The Growth Fund expected to disband

The Growth Fund, an Australian mid-market private equity (PE) firm, is expected to manage out its current portfolio and then disband

  • Australasia
  • 07 September 2023
dollar-bills-print-money
500 Global raises $143m for Southeast Asia

500 Global has raised USD 100m for its third Southeast Asia-focused early-stage fund and USD 43m for a vehicle that will target growth-stage start-ups in the region.

  • Southeast Asia
  • 06 September 2023
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