Articles by Tim Burroughs
PE-backed Abbisko trades up after $225m Hong Kong IPO
China-based oncology drug developer Abbisko Therapeutics gained nearly 10% on its Hong Kong trading debut following a HK$1.75 billion ($225 million) IPO.
Hillhouse upsizes growth fund to $5.2b
Hillhouse Investment, the buyout and growth capital unit of Asia-focused Hillhouse Group, has raised $5.2 billion for a growth equity fund, more than twice the original target.
Baring Asia creates sustainability-linked credit facility
Baring Private Equity Asia (BPEA) has secured a $3.2 billion loan to support its private equity platform with interest rate reductions linked to performance against a series of sustainability metrics.
Anchor raises $1.6b for Korea, North Asia
Anchor Equity Partners has closed its fourth Korea and North Asia-focused fund with $1.6 billion in commitments after approximately five months in the market.
Rise Climate, ADQ commit $994m to Tata Motors EV unit
TPG Rise Climate, a climate-focused strategy under TPG’s global impact investment platform, has agreed to invest INR75 billion ($994 million) in the electric vehicle (EV) unit of India’s Tata Motors.
AVCJ daily bulletin returns October 15
AVCJ’s daily bulletin will not be published on October 14 due to a public holiday in Hong Kong.
Vision Fund: Big is beautiful?
Previously the sole elephant in Asia’s growth-stage technology space, SoftBank’s Vision Fund program is now one of a herd. Prevailing amid increased competition may prove its thesis once and for all
3Q analysis: India advances
India technology investment continues to ramp up as China flatlines; international payments M&A drives Asia trade sale revival, but IPOs slump; fundraising remains slow
Q&A: Glow Capital Partners' Justin Ryan
Having teamed up with the founder of Adore Beauty to launch Glow Capital Partners, Justin Ryan discusses life after Quadrant Private Equity, growth-stage investment in Australia, and gender balance
Stonebridge Ventures targets Korea IPO
Stonebridge Ventures, a Korean venture capital firm with more than KRW700 billion ($595 million) in assets under management, has filed to list on KOSDAQ.
KKR announces CEO succession
Joe Bae, who was responsible for establishing KKR’s Asian operation, has been named co-CEO of the firm as co-founders Henry Kravis and George Roberts complete the handover to the next generation.
China in six trends
Key themes in China private equity fundraising, investment, and exits
PE-backed MicroTech Medical targets $254m Hong Kong IPO
MicroTech Medical, a China-based manufacturer of insulin pumps for diabetes sufferers that counts Lilly Asia Ventures (LAV) and Qiming Venture Partners among its investors, is looking to raise up to HK$1.98 billion ($254 million) in a Hong Kong IPO.
Australian Business Growth Fund seals debut deal
The Australia Business Growth Fund (ABGF) has made its first investment, committing A$15 million ($11 million) to local lithium-ion battery manufacturer 3ME Technology.
East, Vulcan lead $15m Series A for Singapore's Qapita
Qapita, a Singapore-based provider of software used by start-ups to manage cap tables and employee stock ownership plans (ESOP), has raised $15 million in Series A funding.
Allegro sells New Zealand retailer to Pencarrow
Australian turnaround investor Allegro Funds has sold The Interiors Group – a New Zealand-based home interiors retailer formerly known as Carpet Court – to Pencarrow Private Equity.
India cloud kitchen player Rebel Foods raises $175m
India-based cloud kitchen operator Rebel Foods has raised $175 million in Series F funding, led by Qatar Investment Authority (QIA), at a valuation of $1.4 billion.
India's Licious secures $52m Series G
Licious, an India-based online retailer specializing in fresh meat and seafood, claims to have become the country’s first direct-to-consumer (D2C) unicorn following a $52 million Series G round.
Ribbit Capital backs Indonesia's Bank Jago
Global financial technology investor Ribbit Capital has thrown its weight behind Bank Jago, an Indonesia-based digital lender established by local private equity firm Northstar Group.
China biotech: Going global
A gradual shift in focus from sourcing assets from overseas for application in China to bringing China-made treatments to the world is challenging the notion of what constitutes a local biotech start-up
Q&A: Poema Global’s Homer Sun
Morgan Stanley Private Equity Asia’s former CIO explains why he likes special purpose acquisition companies (SPACs) and what drew him to electric scooter and mobility technology player Gogoro
PE-backed Oyo targets $1.1b India IPO
Oyo, an India-focused budget hotel platform backed by the likes of SoftBank Vision Fund, is looking to raise up to INR84.3 billion ($1.1 billion) through a domestic IPO.
Goodwin strengthens Asia fund formation team
Goodwin has recruited Phil Culhane and Elyn Xing, who previously worked together at Simpson Thacher, as Asia-based partners in its private investment funds practice.
India PE stalwart Ajay Relan dies aged 67
Ajay Relan, one of the pioneers of private equity in India, has died at the age of 67.