Articles by Tim Burroughs
Fund focus: Qiming picks its moment
China’s Qiming Venture Partners more than doubled its fund size from the previous vintage, having launched the vehicle prior to the recent chaos and leveraged LP demand for the familiar
LP interview: MetLife Investment Management
A preference for control-oriented strategies has left MetLife Investment Management with an Asia portfolio split equally between developed and emerging markets. There are no plans to upset the balance
Indonesia B2B agriculture marketplace gets $35m Series A
AgriAku, an Indonesia-based B2B marketplace that looks to improve agriculture supply chain efficiency for retailers of agricultural inputs, has raised USD 35m in Series A funding led by Alpha JWC Ventures.
Prosus leads $25m Series B for India's Vegrow
Prosus Ventures, a technology investment business controlled by Naspers, has led a USD 25m Series B round for Vegrow, an India-based marketplace that helps farmers sell their fruit crops into organised distribution channels.
Brett Sutton to leave role as CVC's Australia chair
Brett Sutton, a former partner at Affinity Equity Partners who was recruited by CVC Capital Partners last August to oversee the reestablishment of its Australia presence, will leave the firm at the end of the year.
Qiming raises $3.2b across dollar, renminbi funds
China-focused VC firm Qiming Venture Partners has closed its eighth US dollar-denominated fund at the hard cap of USD 2.5bn – more than twice the size of the previous vintage – and raised CNY 4.7bn (USD 701m) for its latest renminbi vehicle.
Japan's Sumitomo Mitsui commits $1.5bn to Apollo
Japan’s Sumitomo Mitsui Trust Holdings has signed up to an alternatives co-investment program run by Apollo Global Management, taking the total capital raised from Asia-based LPs to more than USD 5bn.
Korean GP backs $1.5b buyout of US-listed Meridian Bioscience
SJL Partners, a Korea-based private equity firm that specialises in cross-border transactions, has teamed up with domestic in vitro diagnostics business SD Biosensor to acquire US-listed peer Meridian Bioscience for USD 1.53bn.
Korea's Kakao considers partial divestment of mobility spin-out
South Korean internet giant Kakao has indicated it may sell around 10% of Kakao Mobility, its transportation division, which has several private equity backers.
Accel-KKR targets Australia-listed SaaS player Damstra
Damstra Technology, a listed Australian software-as-a-service (SaaS) provider specialising in worker safety and risk management, has received an unsolicited buyout proposal from Accel-KKR.
Blackstone backs Australia, US clean commodities platform
The Blackstone Group has led a USD 400m investment in Xpansiv, an Australia and US-based marketplace for trading clean commodities such as carbon offsets, renewable energy credits (RECs), and low-carbon fuels.
Australian start-up wins backing for spider venom drug
Infensa Bioscience, a newly established Brisbane-based drug developer, has raised AUD 23m (USD 15.6m) in funding to support the licensing of a nascent treatment that uses spider venom to mitigate heart attacks and strokes.
Asia's Emerald Hill makes top 10 in global fund-of-funds ranking
Emerald Hill Capital Partners, which closed its last fund in 2014 and decided against raising a successor vehicle several years ago, is the sole Asian representative in the top 10 of a global fund-of-funds performance ranking compiled by business school...
Deal focus: CDH plays Asia wellness card
CDH Investments turned The Better Health Company from a New Zealand-only player into a brand with regional recognition. COVID-19 proved a minor obstacle to an ultimately successful trade sale
Australia tech: Valuation conundrum
Valuation adjustments and down rounds are expected to proliferate in Australia’s technology sector in the next 12 months. Investors are busy scrutinising business models for signs of vulnerability
Sequoia raises $8.8b for China funds
Sequoia Capital has hit the hard cap on each of the four funds in its latest China vintage, accumulating USD 8.8bn for deployment in seed through late-growth rounds.
India start-up financier GetVantage raises $36m
GetVantage, a provider of revenue-based financing to Indian start-ups, has secured USD 36m in funding led by Varanium Nexgen Fintech Fund, DMI Sparkle Fund, Chiratae Ventures, and Dream Incubator Japan.
Baring Asia exits Cath Kidston to UK turnaround investor
Baring Private Equity Asia (BPEA) has exited Cath Kidston, a UK lifestyle retailer that underwent a restructuring during the initial phase of COVID-19, to turnaround investor Hilco Capital.
Tough funding terms can hinder start-up growth - forum
Imposing punitive terms on founders in response to governance concerns can prove counterproductive to long-term growth as start-ups move through funding rounds and stipulations intensify, a Singapore Venture Capital & Private Equity Association (SVCA)...
Singapore-based Timothy Zee leaves PAG
Timothy Zee, a Singapore-based managing director with PAG whose primary responsibilities included deal sourcing and business development, has left the firm after 10 years.
CDH exits New Zealand supplements brand to Nestle
CDH Investments has agreed to sell New Zealand-based supplements manufacturer The Better Health Company (TBHC) to Nestlé Health Science for an undisclosed sum.
Panthera hits first close on India, Southeast Asia fund
India and Southeast Asia-focused Panthera Growth Partners has reached a first close on its second fund with commitments amounting to more than half the overall target of USD 250m.
Karthik Prabhakar to leave India's Chiratae Ventures
Karthik Prabhakar, who joined Chiratae Ventures – then IDG Ventures India – as a senior analyst in 2011 and rose to the level of managing director and head of global fundraising, has announced his departure from the firm.
AVCJ daily bulletin returns July 4
AVCJ’s daily bulletin will not be published on July 1 due to a public holiday marking the establishment of the Hong Kong Special Administrative Region.