Articles by Tim Burroughs
Australia VC player Blackbird closes $647m fund
Blackbird Ventures has raised AUD 1bn (USD 647m) for its latest fund, which will invest in “generational” technology companies in Australia and New Zealand. It is the largest ever VC fund raised by an Australia-based manager.
Quadrant spins Australia car services business into continuation fund
Quadrant Private Equity has closed a AUD 255m (USD 165m) single asset continuation fund for MotorOne, an Australia-based automotive after-market services provider it has owned since 2016.
Sport investment: Into the value chain
Investors are increasingly drawn to the structural nuances, sticky customer bases, and long tail of ancillary opportunities that exist around professional sports. Asia’s role is small but growing
Bain makes $179m partial exit from India's Axis Bank
Bain Capital has generated proceeds of INR 14.9bn (USD 179.7m) through a partial exit from Axis Bank, a listed Indian lender it first backed five years ago.
Australia recycling start-up Samsara Eco raises $34m
Samsara Eco, an Australia-based start-up that has developed enzymes capable of breaking down plastics into their core molecules so they can be reconstituted in new items, has raised AUD 54m (USD 34.6m) in Series A funding.
BII leads $25m round for India's Kinara Capital
British International Investment (BII), a UK development finance institution, has led a USD 25m equity funding round for Kinara Capital, an Indian non-banking financial company (NBFC) that lends to micro, small, and medium-sized enterprises (MSMEs).
Warburg Pincus, Malabar commit $60m to India wearables brand
Warburg Pincus and Malabar Investments have injected USD 60m into boAT, an India-based manufacturer of wearables and other electronic devices that was previously on track for an IPO.
TPG completes buyout of Australia's iNova Pharmaceuticals
TPG has completed its acquisition of a majority stake in Australia-based prescription medicines business iNova Pharmaceuticals, facilitating exits for Pacific Equity Partners (PEP) and The Carlyle Group.
Fund focus: BPEA Credit spins out, closes Fund III on $475m
Baring Private Equity Asia's credit unit has entered a new phase as an independent manager with a fund more than three times larger than the previous vintage
BGH, Sixth Street agree $933m buyout of New Zealand's PushPay
BGH Capital and Sixth Street Partners have agreed to acquire PushPay, a New Zealand and Australia-listed payments business specialising in donor management, for an enterprise value of NZD 1.54bn (USD 933m).
Axiom, Pavilion back Japan climate tech start-up Asuene
Axiom Asia and Temasek Holdings-controlled Pavilion Capital have joined a USD 20m Series B round for Asuene, a Japan-based climate technology start-up that helps companies track carbon emissions.
KKR buys Next Digital Engineering from Rohatyn
KKR has agreed to buy Ness Digital Engineering, a US-based provider of digital transformation services that has a significant back-end service delivery presence in India, for an undisclosed sum.
Australia's Elmo Software agrees take-private with US GP
K1 Investment, a US-based private equity that focuses exclusively on enterprise software companies, has agreed to acquire Australia-listed Elmo Software at a valuation of AUD 483m (USD 313m).
Bain-led consortium closes tender for Japan's Hitachi Metals
A Bain Capital-led consortium has completed its tender offer for Hitachi Metals – at a valuation of JPY 816.8bn (USD 5.6bn) – 18 months after first submitting a bid for the Japan-based industrial components manufacturer.
Deal focus: Elevation makes Korea healthcare debut
Adverse fundraising conditions didn’t deter deal-by-deal player Elevation Private Equity from investing in Korea healthcare turnaround, and by extension, aligning with a key domestic partner
Deal focus: Gamurs gears up for M&A boom
Gamurs claims to have carved a niche as the largest gaming news publisher in the English-speaking world on the back of 39 acquisitions in seven years. Its Series A will go towards more purchases
KKR, Mubadala form $1b Asia credit partnership
KKR and Mubadala Investment – a sovereign investor controlled by the government of Abu Dhabi – have established a partnership through which they will co-invest in performing credit opportunities across Asia Pacific.
Sofina leads $46m round for India agtech player DeHaat
Sofina, a Belgium-headquartered holding company and an active investor in Asia-based start-ups, has led a INR 3.66bn (USD 45.8m) Series E round for Indian agricultural technology platform DeHaat at a valuation of USD 695m.
PE investors commit $500m to India agribusiness giant UPL
India-headquartered UPL, which claims to be the world’s fifth-largest agrochemicals company, has announced a restructuring that will see KKR, TPG, Brookfield Asset Management, and Abu Dhabi Investment Authority (ADIA) invest INR 40.4bn (USD 500m) across...
Carlyle poaches Morrison's Australia, New Zealand co-head
The Carlyle Group has appointed Geoff Hutchinson, formerly of Morrison & Co. and Pacific Equity Partners (PEP) as a managing director and head of private equity for Australia and New Zealand.
Permira shuts down Japan office
Permira is closing its Japan office, 17 years after establishing its first Asian foothold in Tokyo.
Saudi Arabia's Sidra targets Asia, teams up with BlackRock
Sidra Capital, a Saudi Arabia-based alternative asset manager, has teamed up with BlackRock to offer shariah-compliant private equity opportunities in Asia Pacific.
Permira recruits India head from Warburg Pincus
Permira has established a presence in India and recruited Siddharth Narayan, who previously spent a decade at Warburg Pincus, as country head.
China energy storage player Hithium gets $276m Series B
Xiamen Hithium Energy Storage Technology, a China-based battery manufacturer, has secured CNY 2bn (USD 276m) in Series B funding led by ABC International.