Articles by Tim Burroughs
India's Zupee closes Series B at $102m
Zupee, an Indian skill-based gaming platform, has raised a USD 72m Series B extension, taking the overall round to USD 102m. The company is now valued at USD 600m.
Japan's ACA buys Belgian football club
Japanese fund manager ACA Investments has created a football-focused unit under its Singapore-based subsidiary and acquired a club that competes in the second tier of the Belgian league.
AGIC exits healthcare business Ritedose to Novo Holdings
AGIC Capital, which specializes in cross-border deals along the China-Europe axis, has agreed to sell pharmaceutical manufacturing and packaging business Ritedose Corporation to Novo Holdings.
Singapore's Azalea raises second fund-of-funds
Temasek Holdings-owned Azalea Asset Management has raised USD 805m for a second fund-of-funds intended to broaden investor access to private equity.
Nexus co-founder Naren Gupta dies aged 73
Naren Gupta, a co-founder of Nexus Venture Partners who is acknowledged as one of the pioneers of venture capital in India, has died at the age of 73.
Premji Invest leads $111m round for India's GlobalBees
GlobalBees, an India-based platform that agglomerates technology-enabled emerging consumer brands, has raised USD 111.5m in Series B funding at a valuation of USD 1.1bn.
Korea's VIG makes first full exit from Fund III
VIG Partners has agreed to exit its 51% stake in eyewear brand Star Vision through a buyback by the South Korean company’s founder and current minority shareholder.
Northstar raises $590m for fifth Southeast Asia fund
Northstar Group has closed its fifth Southeast Asia-focused fund with $590 million in commitments. The target was $800 million.
PE consortium backs New Zealand fertility business
Pioneer Capital, New Zealand Superannuation Fund, and Comprador Holdings have together acquired a 70% stake in Fertility Associates, a New Zealand-based fertility treatment provider.
Alpha Wave leads $300m round for India's Cars24
Indian used car platform Cars24 has raised $400 million in funding – comprising $300 million in equity and $100 million in debt – at a valuation of $3.3 billion.
India's Razorpay closes $375m Series F at $7.5b valuation
Indian payments start-up Razorpay has seen its valuation more than double in eight months on closing a $375 million Series F led by Lone Pine Capital, Alkeon Capital Management, and TCV.
Vietnam's MoMo secures $200m Series E
Mizuho Bank has led a $200 million Series E round for MoMo, a Vietnam-based mobile wallet provider, at a valuation of more than $2 billion.
Anchor invests $210m in Korean grocery player Kurly
Anchor Equity Partners has committed KRW250 billion ($210 million) in pre-IPO funding to Kurly, a Korean grocery delivery platform that earlier this year said it would list locally rather than in the US.
Australia's PEP secures fourth exit in a fortnight
Pacific Equity Partners (PEP) has agreed on exits from two energy infrastructure-related businesses, taking the Australia-based private equity firm to four announced liquidity events within a fortnight.
India's OfBusiness achieves $5b valuation with Series G
OfBusiness, an India-based B2B platform focused on industrial supply chain and procurement services, has raised $325 million in Series G funding at a valuation of $5 billion.
Openspace promotes growth fund head to partner
Jessica Huang Pouleur, who was recruited by Openspace Ventures last year to lead the Southeast Asia-focused venture capital firm’s growth equity strategy, has been promoted to partner.
China's SenseTime perseveres with IPO despite blacklisting
Chinese artificial intelligence (AI) technology developer SenseTime has relaunched its IPO on the same terms, albeit excluding US investors, after being placed on another blacklist by the US government.
Hong Kong seeks compromise on local SPAC provisions
Hong Kong has compromised on several points of contention in its special purpose acquisition company (SPAC) guidelines, notably removing a requirement that investors can only redeem their shares post-merger if they vote against the deal.
NewQuest set for TPG windfall if Fund V hits $1.75b
The management team of Asia secondaries specialist NewQuest Capital Partners stands to receive a $10 million payout if the firm raises $1.75 billion for its fifth fund, as part of TPG’s acquisition agreement.
Carlyle agrees $419m exit from Japan healthcare business
The Carlyle Group has agreed to sell Sunsho Pharmaceuticals, a Japan-based contract manufacturer of dietary supplements, to Towa Pharmaceutical for JPY47.7 billion ($419.5 million).
KKR to buy Japan SME software provider from Orix
KKR has agreed to buy Yayoi, a Japan-based software developer that serves small and medium-sized enterprises (SMEs) from Orix Corporation.
Japan's Advantage raises renewables-focused SPAC
Advantage Partners has raised $150 million for a special purpose acquisition company (SPAC) that will target de-carbonization and renewable energy-related assets with a focus on Asia ex-China and Europe.
ADV backs Asia, North America flooring manufacturer
ADV Partners has acquired a significant minority interest in CFL Technologies, a flooring materials business with a presence in multiple locations in the US, China, and Vietnam.
AVCJ daily bulletin returns January 3
AVCJ's daily bulletin is taking a short break for the festive holiday season.