Articles by Tim Burroughs
NLVC backs Chinese P2P lending platform Dianrong
Northern Light Venture Capital (NLVC) has led a Series A round of funding for Chinese P2P lending service Dianrong. The specific investment amount was not disclosed but the company said it was tens of millions of dollars.
China Media Capital to buy 21st Century Fox's Star TV stake
China Media Capital (CMC) has agreed to buy 21st Century Fox’s 47% stake in Star China TV in partnership with company management. The acquisition gives CMC full ownership of what was previously News Corporation’s China portfolio, having bought a majority...
PE-backed firms win approval for China listings
Five Chinese companies – at least two of which have private equity or venture capital backers – have won approval to list on mainland stock exchanges as the year-long IPO lockdown comes to a close.
Baidu, VCs provide $15m round for fashion site Yoka
Baidu has led a $15 million round of funding for Yoka, a Chinese fashion website. Fidelity Growth Partners also participated in the round alongside existing investors IDG Capital Partners, Matrix Partners and Hearst Corporation.
Intel Capital backs Sanjet's wearable video technology
Intel Capital has committed an undisclosed sum to Sanjet Technology Corp, a Taiwan-based manufacturer of portable multi-purpose video cameras. The funding will be used to support the development of cameras that can be worn on the body or placed inside...
Indonesia eases foreign investment restrictions
Foreign investors will be able to take larger stakes in Indonesia’s power, advertising and pharmaceuticals sectors as part of efforts to boost the country’s slowing economy. The changes require formal presidential endorsement before they can come...
Advent exits India’s CAMS as NSE buys 45% stake
Advent International has fully exited its stake in Computer Age Management Services (CAMS) after a subsidiary of India’s National Stock Exchange (NSE) bought a 45% stake in the company, which provides transaction processing and other back office services...
Hahn & Co to buy Hanjin’s bulk carrier business
Hahn & Co. will pay KRW400 billion ($380 million) for a 76% stake in Hanjin Shipping’s bulk carrier business. This is the South Korean private equity firm’s second foray into the shipping sector following an aborted attempt earlier this year to buy...
Longreach agrees Japan manufacturing carve-out
The Longreach Group has agreed to buy Sol-Plus Group, a Japanese plastics manufacturer with production facilities in Thailand, for an undisclosed sum.
HarbourVest's Asia secondaries head becomes managing director
Tim Flower, head of HarbourVest Partners’ secondary activities in Asia, has been promoted to managing director. The move comes just over three years since Flower relocated from London to Hong Kong and one year since he was elevated to principal.
VIDEO: Steve Koltes of CVC Capital Partners
CVC Capital Partners has completed two control deals in China in 2013 and Steve Koltes, the firm's co-founder and co-chairman, expects more to follow. This evolution of opportunities in existing markets - plus the opening up of new markets - will see...
Sprott, Woori win Korean mandate for $750m global resources fund
South Korea’s National Pension Service (NPS) will lead a consortium of institutional investors in putting up half the capital for a $750 million private equity fund to be managed by Canadian asset manager Sprott and Woori Asset Management. The 10-year...
Carlyle invests in India’s Global Health Private
The Carlyle Group has acquired a minority stake in India’s Global Health Private, owner and operator of Medanta – the Medicity, a super-specialty Medanta hospital in the National Capital Region (NCR) of Delhi. The transaction facilitates the exit...
AVCJ daily bulletin returns January 2
AVCJ's daily bulletin will take a short break next week for the festive holiday season. Publication will resume on January 2, while the weekly magazine's first issue of 2014 is released on January 7.
Secondaries specialist NewQuest reaches $215m first close on Fund II
NewQuest Capital Partners has reached a first close of $215 million on its second fund, which focuses on direct secondary opportunities in Asia. A final close of around $300 million – the hard cap is $330 million – is expected in the first half of...
Navis races to $860m first close on seventh Asia fund
Navis Capital Partners has reached a first close of $860 million on its seventh Asian fund after less than three months in the market.
China Cinda gains 26% on Hong Kong trading debut
China Cinda Asset Management saw its stock close up 26% on the IPO price for the biggest debut gain among large cap companies in Asia in more than two years.
PSERS, Louisiana Teachers commit to CVC's fourth Asia fund
CVC Capital Partners has received $175 million in commitments to its fourth Asia Pacific fund from Pennsylvania Public School Employees’ Retirement System (PSERS) and Teachers’ Retirement Systems of Louisiana (TRSL).
Warburg Pincus-backed e-Shang receives pre-IPO funding
Chinese warehousing developer and operator e-Shang, which was co-founded by Warburg Pincus and two local entrepreneurs in 2011, will receive $120 million in pre-IPO financing from Goldman Sachs. Warburg Pincus has also committed a third round of investment,...
GGV leads Series B for China mobile gaming platform Yodo1
GGV Capital has led a Series B round of funding worth $11 million for Yodo1, a Chinese mobile gaming platform. Existing investor Singtel Innov8 also participated alongside new entrants Pavillion Capital and Iris Capital.
South Korea’s Vogo raises $350m for Fund II
Vogo Investment has raised $350 million for its second South Korea-focused fund. A final close is expected early in 2014 once final negotiations on terms with a few LPs, including domestic heavyweight the National Pension Service, are completed.
Quadrant acquires Australian water dispensing business
Quadrant Private Equity has acquired a majority stake in Zip Industries, an Australian developer of small-scale hot water systems capable of delivering boiling water instantly. Its signature product the Zip HydroTap is popular domestically and exported...
2013: The year in numbers
A snapshot of the year's stand-out fundraising, investment and exit activity
Q&A: Bain Capital's Dwight Poler
Dwight Poler, managing director with Bain Capital in Europe, on the openings created by economic volatility in the euro zone and supporting portfolio companies that seek expansion in Asia