Articles by Tim Burroughs
Japan's Aspirant buys beauty brand John Masters Organics
Japanese middle-market private equity firm Aspirant Group has agreed to acquire John Masters Organics (JMO), a personal care brand with a sizeable presence in East Asia, for an undisclosed sum.
Tencent, Block join Series B for Indonesia's Flip
Indonesian consumer payments platform Flip has upsized its Series B round to more than USD 100m with the addition of Tencent Holdings and Block – formerly Square – to the investor roster and re-up from Insight Partners.
Sequoia raises $2.85b for India, Southeast Asia
Sequoia Capital has raised USD 2.85bn for its latest set of India and Southeast Asia-focused funds, which includes the firm’s first-ever dedicated Southeast Asia vehicle.
Deal focus: Hahn finds rich pickings in SK Group
Hahn & Company’s USD 1.3bn acquisition of an industrial materials unit from SKC is its fifth deal involving SK Group in four years. Being a good custodian is regarded as key to securing repeat business
Crypto: Something for everyone?
Traditional VCs are becoming more active in Asia’s blockchain and web3 space, despite structural and philosophical obstacles to participation. Can they withstand the crypto winter?
Circle buys VC-backed Taiwan crypto infrastructure platform
Cybavo, a Taiwan-based crypto technology player that provides platforms for digital asset custody and blockchain application development, has agreed to be acquired by US digital currency specialist Circle for an undisclosed sum.
New Zealand deep-tech VC Pacific Channel seeks co-investors
Pacific Channel, which claims to be the largest deep-tech specialist in New Zealand’s venture capital industry, is seeking co-investors to support maturing portfolio companies that require additional capital.
SPAC backed by Vision Knight founder makes Hong Kong debut
A special purpose acquisition company (SPAC) sponsored by David Wei, founder of Vision Knight Capital, has become the second structure of its kind to list in Hong Kong.
India beauty e-commerce player Purplle achieves unicorn status
India-focused beauty e-commerce platform Purplle has raised USD 33m in funding at a valuation of USD 1.1bn – nearly twice what it was worth about seven months ago.
Korea's Hahn & Co targets $3.25b for Fund IV
Hahn & Company has set a target of USD 3.25bn for its fourth Korea-focused fund, which will include a co-investment sidecar of unspecified size.
India edtech start-up gets unicorn status on Series A
PhysicsWallah, an India-based online education platform focused on engineering and medicine, has achieved unicorn status at the Series A stage after raising USD 100m at a post-deal valuation of USD 1.1bn.
Bain raises $2b for Asia special situations fund
Bain Capital has closed its second Asia special situations fund with more than USD 2bn in commitments. The firm described it as the largest vehicle in the region dedicated to the likes of direct lending, mezzanine debt, and distressed asset opportunities.
DCP hits $2.5b first close on second China fund
DCP Capital has already completed five investments from its second China fund, having completed a first close of USD 2.5bn in January.
LPs warm up to crypto strategies – survey
Two in five LPs regard crypto-enabling businesses as a legitimate investment target, according to Coller Capital’s latest private equity barometer survey, underlining the sector’s emergence as a mainstream target for PE and VC.
Malaysia's IHH Healthcare sells education arm to Rise Fund
A consortium led by The Rise Fund, TPG’s global impact investment platform, has agreed to acquire the medical education arm of Malaysia-headquartered IHH Healthcare for MYR 1.35bn (USD 306m).
China secondaries: Liquidity play
Under pressure to generate returns amid a challenging fundraising environment, Chinese GPs are beginning to revise pricing expectations to get traction with continuation funds
Temasek launches decarbonisation investment platform
Singapore’s Temasek Holdings has committed an initial SGD 5bn to a newly launched platform designed to make investments that accelerate decarbonisation globally.
Hong Kong's Saltagen targets $120m for biotech fund
Saltagen Ventures, a Hong Kong-based venture capital firm led by Canada’s trade representative to the Asia Pacific Economic Cooperation (APEC) forum, is looking to raise USD 120m for a global biotech fund.
Indonesia social commerce player Super raises $70m
NEA has led a USD 70m Series C round for Super, an Indonesia-based social commerce platform that targets the country’s lower-tier cities and rural areas.
India's Gupshup acquires VC-backed OneDirect
India-based B2C messaging services provider Gupshup has acquired OneDirect, a local customer service platform that previously received several rounds of funding from Sequoia Capital India.
Sequoia leads Series A extension for China's ProfoundBio
Sequoia Capital China has led a USD 70m extended Series A round for ProfoundBio, a Chinese drug developer with two cancer treatments entering phase-one clinical trials.
Affirma targets Korea private debt, secondaries
Affirma Capital is expanding its Korean coverage with the launch of dedicated private debt and secondaries businesses following a relaxation in local regulations.
Indonesia grocery delivery player Astro raises $60m
Indonesia-based on-demand grocery delivery platform Astro has secured USD 60m in Series B funding led by Accel Partners, Citius, and Tiger Global Management.
AVCJ daily bulletin returns June 6
AVCJ’s daily bulletin will not be published on June 3 due to a public holiday in Hong Kong.