Articles by Tim Burroughs
India’s VC-backed Zomato acquires US-based Urbanspoon
Zomato, a VC-backed restaurant search service based in India, has acquired US-based counterpart Urbanspoon as it seeks to accelerate growth in overseas markets.
China e-commerce player WoWo files for US IPO
WoWo, which came to prominence as operator of the 55tuan group-buying site before expanding into a broader entertainment and lifestyle-focused e-commerce platform, has filed for a US IPO.
Alibaba to invest in Indian e-commerce, payments platform
Alibaba Group has agreed to invest at least $550 million in One97 Communications, owner of India-based mobile commerce platform and payments solution provider Paytm, which has several venture capital backers.
EIG hires CIC’s oil and gas head to lead Hong Kong office
EIG Global Energy Partners has hired Yangyang Liu, formerly of China Investment Corporation (CIC) as managing director in its recently-established Hong Kong office.
Google Capital backs India real estate platform CommonFloor
Google Capital has provided a new round of funding for CommonFloor.com, an India-based property listings website.
Dentsu challenges take-private of China’s Charm Communications
The CMC Capital-backed privatization of Charm Communications is being challenged by Dentsu Aegis, which refused to accept the terms for the acquisition of its minority stake in the Chinese advertising agency.
DST, Iconiq join Series A round for Hong Kong P2P lender WeLab
DST Global founder Yuri Milner, Iconiq Capital and a joint venture between China Post and TOM Group have been added to Hong Kong-based internet finance start-up WeLab’s Series A round, taking the total raised to $20 million.
Xeraya, Spruce in $150m first close on second life sciences fund
Khazanah Nasional-controlled Xeraya Capital and Spruce Capital Partners have reached a first close of $150 million on MLS Capital Fund II, successor to the vintage Malaysian Life Sciences Capital Fund, which is now fully allocated.
KKR, GIC launch real estate-focused India NBFC
KKR has launched its second Indian non-banking financial company (NBFC), teaming up with Singapore’s GIC Private to focus on providing structured credit solutions for real estate developers.
Q&A: HarbourVest Partners' George Anson
George Anson, a London-based managing director with HarbourVest Partners, on the importance of customization, scale and diversification in creating a sustainable global fund-of-funds business
MSPEA enters the China hospital space
To Homer Sun, CIO at Morgan Stanley Private Equity Asia (MSPEA), the current climate in China’s hospital services space is reminiscent of pharmaceuticals circa 2008. Government policy was pushing the industry towards consolidation and MSPEA capitalized,...
China outbound: More haste, less speed
Much is expected of Chinese private equity firms in terms of cross-border acquisitions in Europe and the US. While broader economic dynamics point to more deal flow, the GPs themselves are moving with caution
December deals: A Christmas story
JKL Partners and a unit of South Korean conglomerate Harim Group were named by a local court as the preferred bidder for bankrupt shipper STX Pan Ocean on December 17. This was slightly more generous to those looking forward to a seasonal break than the...
Bull Capital in $200m first close for second China fund
Bull Capital Partners has reached a first close of $200 million on its second China fund. The GP has also completed its first investment from the vehicle, backing Shanghai-headquartered used car business CarKing.
Australian cancer drug developer raises $10m Series B round
Australian biopharmaceutical start-up EnGeneIC has received $10 million in a Series B round of funding led by Boston-based healthcare specialist GRT Capital Partners.
Rocket Internet, PLDT set up online payments platform
Rocket Internet and Philippine Long Distance Telephone (PLDT) have agreed to form a joint venture mobile payments platform with a focus on emerging markets.
CVC returns $2b to investors from Asia deals in 2014
CVC Capital Partners returned $2 billion to investors from Asia-based investments in 2014 after completing three full or partial exits – which contributed $1 billion of the proceeds – in December.
TPG, PAG consortium merges DTZ with Cassidy Turley
TPG Capital, PAG Asia Capital and their co-investor Ontario Teachers’ Pension Plan (OTPP) have followed up their acquisition of DTZ, the property services arm of Australia-listed UGL, with the purchase of US-based Cassidy Turley.
China's CDH exits CNinsure via share buy-back
CDH Investments is exiting CNinsure, a China-based distributor of insurance products, after members of the management team agreed to buy back its stake for $54.1 million.
L Capital Asia leads cornerstones for Asiaray Media’s HK IPO
L Capital Asia, is participating as a cornerstone investor in Greater China out-of-home advertising company Asiaray Media Group’s Hong Kong IPO, which is targeting up to HK$772.2 million ($99.5 million).
Japan’s Incubate Fund forms $92m Internet of Things vehicle
Tokyo-based early-stage VC firm Incubate Fund has raised JPY11 billion ($91.2 million) for a vehicle that will support Japanese companies involved in the Internet of Things (IoT).
Fosun consortium set to win battle for Club Med
A consortium led by Fosun International looks set to emerge victorious from the long-running battle for Club Méditerranée (Club Med) after rival bidder Global Resorts withdrew from the process.
NZ Super, Infratil agree buy RetireAustralia for $521m
New Zealand Superannuation Fund (NZ Super) and infrastructure investor Infratil have bought retirement village operator RetireAustralia for A$640.2 million ($521 million) from J.P. Morgan Special Opportunities Group and Morgan Stanley Real Estate.
MSPEA, Sihuan Pharma invest in Chinese hospitals - UPDATE
Morgan Stanley Private Equity Asia (MSPEA) has teamed up with Sihuan Pharmaceuticals – one of its portfolio companies – and that company’s chairman to invest RMB1.24 billion ($200 million) in two Chinese hospitals.