Articles by Tim Burroughs
China's Didi to delist in New York
China ride-hailing platform Didi, which has traded poorly ever since being targeted by regulators in the wake of its IPO in June, plans to delist from the New York Stock Exchange and relist in Hong Kong.
Bain leads $63m Series C for Korea's PeopleFund
Bain Capital has led a KRW75.9 billion ($64.5 million) Series C round for PeopleFund, a Korean lending platform. It is described as the largest funding round in the country’s P2P finance industry.
KKR hires Asia growth equity head
KKR has appointed Mukul Chawla, formerly of Temasek Holdings, to the newly created position of partner and head of growth equity for Asia Pacific.
Wise Road buys semiconductor assets from Taiwan's ASE
Wise Road Capital, a China-based private equity firm that focuses on high-tech investments, has agreed to buy a package of assets from Taiwan-listed semiconductor business ASE Technology Holding for $1.46 billion.
Grab completes SPAC merger, sees volatile trading debut
Southeast Asia ride-hailing platform turned super app Grab experienced a tumultuous first day of trading on NASDAQ following the completion of its merger with a US-listed special purpose acquisition company (SPAC) at an enterprise valuation of $30.4 billion.
Vision Fund leads $188m investment in Naver's metaverse
SoftBank Vision Fund 2 is the largest participant in a KRW223.6 billion ($187 million) investment in Naver Z, the metaverse platform unit of Korean internet giant Naver Corporation.
STIC commits $840m to Korea's Iljin Materials
STIC Investments has led a KRW1 trillion ($840 million) investment in Iljin Materials, a Korean producer of electric foils used in lithium batteries and consumer electronics, to support the international expansion of its manufacturing footprint.
Vision Fund joins $300m round for China vaccine developer
SoftBank Vision Fund 2 and 5Y Capital have led a $300 million Series C extension for Suzhou Abogen Biosciences, a Chinese vaccine developer focused on mRNA products, including one for COVID-19.
Deal focus: Permira passes Tricor baton to Baring
Permira helped Tricor Group consolidate its position in Asian corporate services and upgrade its product offering. Under Baring Private Equity Asia’s ownership, the CEO wants to build a $10 billion company
Fund focus: A91 basks in India afterglow
Having increased its Fund II hard cap to $550 million in response to investor demand, the Indian manager is ready to address an Indian market that is increasingly digital, VC-exposed, and expensive
Deal focus: Serving biryani at scale
With biryani the dish of choice on India’s food delivery apps, Biryani By Kilo is looking to build out a standardized cloud kitchen model. It has $35 million in Series B funding to pursue this ambition
Australia deal-by-deal player Alceon sees investment uptick
Australia-based deal-by-deal investor Alceon Private Equity expects to complete four investments this year, having expanded its scope from consumer and retail to include healthcare, childcare, and IT services.
DCP leads $235m round for China's Datong Insurance
DCP Capital Partners has become the largest institutional shareholder in Datong Insurance Service, one of China’s leading insurance brokerages, after leading a RMB1.5 billion ($235 million) round.
PE investors wary of inflation in 2022 - AVCJ Forum
Inflation is top of mind for Asia-focused private equity investors as they assess the various uncertainties facing the industry in 2022, the AVCJ Private Equity & Venture Forum heard.
Legend hits first close on healthcare fund, launches TMT vehicle
Legend Capital has reached a first close of $177 million on its third US dollar-denominated China healthcare fund. It is one of five vehicles the GP has in the market, including its recently launched ninth flagship technology, media, and telecom (TMT)...
Japan space debris start-up Astroscale gets $109m Series F
Astroscale, a Japanese space tech start-up dedicated to cleaning up orbital debris, has raised $109 million in Series F funding from investors including London-listed Seraphim Space Investment Trust, Japan Growth Capital Investment, and Axa Life Insurance.
HESTA backs PEP-owned Australia software business
HESTA has acquired a A$120 million ($85 million) equity stake in Australian enterprise software and IT services provider Citadel, following its merger with medical practice software specialist Genie Solutions.
CVC exits Malaysia snacks business to Universal Robina
CVC Capital Partners has agreed to sell Malaysia-based snack foods producer Munchy Food Industries to Universal Robina Corporation (URC) – a branded consumer food and beverage business in the Philippines – for MYR1.93 billion ($454 million).
Secondaries supply-demand mismatch most extreme in Asia - AVCJ Forum
There is not enough capital in Asia to address the number of secondary opportunities – mirroring the situation globally – with investors claiming to have more transaction choices than ever before.
China biotech IPOs in Hong Kong to stay strong - AVCJ Forum
The frenzy for Chinese biotech developers listing in Hong Kong is expected to continue well into 2022, industry participants told the AVCJ Private Equity & Venture Forum.
Bain leads $69m Series C for Japan's Linc'well
Bain Capital has led a JPY8 billion ($69 million) Series C round for Linc’well, a Japan-based software-as-a-service (SaaS) provider that caters to medical institutions.
KKR backs Southeast Asia K-12 schools business
KKR has acquired a minority interest in the K-12 schools business of Taylor’s Education Group (TEG), one of the largest private education providers in Malaysia.
RedBird joins $840m round for India's Dream Sports
RedBird Capital Partners, a US investment firm that has extensive sport exposure and several months ago picked up a stake in an Indian Premier League (IPL) franchise, has co-led a $840 million round for local fantasy sports platform Dream Sports.
India's NoBroker joins unicorn club
General Atlantic, Tiger Global Management, and Moore Strategic Ventures have participated in a $210 million Series E round for Indian real estate marketplace NoBroker at a valuation of $1 billion.