Articles by Tim Burroughs
Alibaba Cloud to invest $1b in Asia start-ups
Alibaba Cloud, the cloud computing and artificial intelligence unit of the eponymous Chinese internet giant, has pledged to invest $1 billion in Asia Pacific start-ups over the next three years.
GP profile: Hosen Capital
From renminbi funds to US dollar funds and from growth equity to buyouts, Hosen Capital has been through several evolutions in its first decade. Meeting China’s food needs remains a constant
Carried interest: Safe in Hong Kong?
Tax treatment of carried interest has been an issue of contention in Hong Kong for several years. Just when it seemed to be resolved, draft implementation guidelines are causing disquiet
Primavera buys Reckitt’s China formula business for $2.2b
Primavera Capital Group has agreed to acquire UK-headquartered multinational Reckitt Benckiser’s China infant formula and child nutrition business for an enterprise value of $2.2 billion.
Australia's CPE exits Cell Care to US strategic
Australian middle-market private equity firm CPE has agreed to sell cord blood banking business Cell Care to Generate Life Sciences, a US-based provider of cellular services for fertility and therapeutic purposes.
HarbourVest opens in Singapore, boosts Asia investment team
HarbourVest Partners has expanded its Asia footprint by adding an office in Singapore and strengthened its Hong Kong team with the recruitment of Lydia Hao from Neuberger Berman.
China mRNA specialist Stemirna gets $200m in funding
Stemirna Therapeutics, which claims to be the first biotech company to bring an mRNA therapeutics and nanomedicine platform to China, has raised $200 million in funding.
Singapore's Heritas hits first close on Asia impact fund
Heritas Capital, a Singapore-based private equity firm sponsored by industrial conglomerate IMC Group, has reached a first close of $60 million on a pan-Asia impact investment fund.
TA raises $12.5b for 14th flagship fund
TA Associates, a global growth-oriented investor with a presence in Asia, has closed its 14th flagship fund at the hard cap of $12.5 billion.
Thailand's Flash Express secures $150m in new funding
Thailand-based express delivery company Flash Express has raised $150 million across an extended Series D round and a Series E round. It has now raised approximately $550 million to date and claims to be Thailand’s first unicorn.
KKR, Tiga acquire Hong Kong's The Executive Centre
KKR and Tiga Investments have agreed to acquire Hong Kong office space provider The Executive Centre (TEC), facilitating exits for HPEF Capital Partners and CVC Capital Partners.
Deal focus: NiKang pursues hard-to-drug targets
With big pharma scaling back early-stage discovery, CBC Group is keen to incubate biotech start-ups developing drugs from scratch. NiKang Therapeutics is the first to secure wider investor attention
Deal focus: Hahn embarks on Korea dairy turnaround
Beleaguered by a string of scandals and unable to turn the tide of negative publicity, the family owner of Namyang Dairy Products opted to sell to private equity. His first call was to Hahn & Company
Ex-Goldman Japan strategist launches ESG VC fund
Kathy Matsui, formerly vice chair and chief Japan strategist at Goldman Sachs, has launched what is described as Japan’s first global venture capital fund focused on environment, social and governance (ESG).
PE-backed PropertyGuru buys Malaysia, Thailand assets from REA
PropertyGuru, a Singapore-based real estate portal backed by the likes of TPG Capital and KKR, has acquired REA Group’s property technology assets in Malaysia and Thailand.
China trucking platform Manbang files for US IPO
Manbang, a China trucking business that claims to be the world’s largest digital freight platform, has filed for a US IPO. The company achieved a valuation of $12 billion in its most recent funding round six months ago.
LPs look for signs of maturity in Vietnam PE - AVCJ Forum
Institutional investors are encouraged by the progress Vietnam has made in terms of macroeconomic stability and ease of doing business, but they are still waiting for the local private equity ecosystem to reach its next level of maturity.
PE-backed JD Logistics raises $3.2b in Hong Kong IPO
JD Logistics, a supply chain solutions and logistics provider that spun out from Chinese online retailer JD.com, gained 3.3% on its Hong Kong trading debut following a HK$24.6 billion ($3.2 billion) IPO.
Netease to spin out PE-backed music streaming business
Cloud Village, a music streaming business controlled by Chinese internet and gaming giant NetEase and backed by the likes of General Atlantic, Boyu Capital, and Yunfeng Capital, has filed for a Hong Kong IPO.
KKR bids for Australia conveyancing business
KKR is seeking to become the largest shareholder in Pexa, an Australia-based electronic settlement network for property deals, having offered to take out Link Administration Holdings at an enterprise valuation of A$3 billion ($2.3 billion).
Stride seeks $137m for second India venture debt fund
India venture debt provider Stride Ventures has launched its second fund with a target of INR10 billion ($137.5 million), with a greenshoe option that could see the corpus rise to INR18.7 billion.
Australia fintech start-up raises $19m Series A
Australian payments technology platform mx51 has raised A$25 million ($19.4 million) in Series A funding led by Acorn Capital, Artesian, Commencer Capital, and Mastercard.
TR, Shenzhen Capital back renminbi continuation fund
TR Capital and Shenzhen Capital Group have backed the spin-out of six healthcare assets held by China focused GP Huagai Capital into a RMB800 million ($125 million) renminbi-denominated continuation fund.
Profile: Adamantem Capital’s Rob Koczkar
After swapping a career in private equity for a role in philanthropy, Rob Koczkar returned to the asset class with Adamantem Capital – but brought strong beliefs on sustainability and inclusion with him