Articles by Tim Burroughs
China e-signature business raises $150m Series D
Shenzhen Capital Group, Evergrande High-tech Group and Fortune Capital have participated in a RMB1 billion ($150 million) Series D round for eSign, a China-based electronic signature service provider.
Carlyle targets Japan environmental business buyout - update
The Carlyle Group has launched a JPY37 billion ($355 million) buyout offer that would see it take control of Japan Asia Group, the Tokyo-listed holding company for several Japanese environment-related businesses, and two key subsidiaries.
Deal focus: Iron Pillar demonstrates conviction in FreshToHome
Social distancing is driving demand for FreshToHome's farm-to-fork fish and meat supply chain offering. The company's $121 million Series C will go towards expansion in India and the Middle East
LionRock acquires UK shoe brand, targets China expansion
LionRock Capital, an Asian private equity firm that invests in global consumer brands with a China growth angle, has agreed to acquire a majority stake in British shoe brand Clarks.
China's JW Therapeutics trades up after $300m Hong Kong IPO
JW Therapeutics, a private equity-backed Chinese drug developer specializing in CAR T-cell therapies that engineer immune cells to fight cancers, has raised HK$2.33 billion ($300 million) through a Hong Kong IPO.
Model behavior: China to Southeast Asia tech transplants
Plenty of internet start-ups in Southeast Asia have been inspired by Chinese forebears, but transplanting ideas from one market to another is often fraught with complications
Regulators halt Ant Group's Shanghai, Hong Kong IPO
Private equity-backed Ant Group’s bumper IPO in Hong Kong and Shanghai has been put on hold by Chinese regulators over a potential failure to meet listing qualifications or disclosure requirements.
Atul Phull rejoins Everstone in business development role
Atul Phull, who left Everstone Group in 2018 after a seven-year stint spent primarily on fundraising activities, has rejoined the India and Southeast Asia-focused private equity firm.
Flipkart buys India mobile gaming start-up Mech Mocha
Indian e-commerce marketplace Flipkart has bought Mech Mocha, a local mobile gaming start-up that has previously received VC funding from Blume Ventures, Accel Partners, and China’s Shunwei Capital.
Eight Roads adds healthcare partner in China
Eight Roads Ventures has recruited Xin Liu, formerly of Greater Pacific Capital, as a partner in its China team.
Ex-CEO of India's HDFC Bank takes advisory role at Carlyle
Aditya Puri, previously CEO of HDFC Bank, India’s largest private sector lender, has joined The Carlyle Group as a senior advisor in Asia.
Deal focus: Proterra whisks Asia supply chain for Eat Just
With China consuming more eggs per capita than its Western peers, Proterra Investment Partners sees strong growth potential for plant-based substitute Just Egg. The GP has committed $100 million to an Asia supply chain roll-out
Guy Hands buys Australian cattle business from Terra Firma
Guy Hands, chairman and CIO of Terra Firma, has acquired the UK-headquartered private equity firm’s position in Consolidated Pastoral (CPC), one of Australia’s largest cattle station operators, through his family office.
PE-backed Lufax follows $2.3b US IPO with weak debut
Online lending and wealth management platform Lufax raised $2.36 billion in the largest US IPO by a PE-backed Chinese company so far this year but endured a difficult first day of trading.
Ares bids for Australian financial services player AMP
Ares Management has submitted a non-binding offer of around A$6.4 billion ($4.5 billion) to acquire Australia’s AMP, continuing the recent private equity push into the country’s wealth management industry.
Carlyle Asia fund supports $2.3b Siemens carve-out
The Carlyle Group’s Asia buyout fund has joined its European counterpart in the EUR2 billion ($2.3 billion) acquisition of Flender, a Siemens subsidiary that manufactures mechanical and electrical drive systems commonly used in wind turbines and industrial...
Hong Kong's MindWorks seeks $150m for Fund IV
Hong Kong-headquartered VC firm MindWorks Capital expects to launch its fourth fund in the first half of next year with a target of $150 million.
China biotech player Gracell raises $100m Series C
Wellington Management, OrbiMed and Morningside Ventures have led a $100 million Series C round for Gracell Biotechnologies, a China-based developer of cancer treatments.
Fund focus: Secondaries drive Ping An unit’s transition
China Ping An Insurance Overseas Holdings has aspirations to manage assets for third-party investors. Spinning out part of the global private equity portfolio may help it get there
Japan fundraising: Middle-market machine
Buoyed by strong macro fundamentals and robust returns, Japan’s buyout managers continue to attract capital while most other strategies across Asia struggle. Will this popularity be sustained?
TCDRS backs trio of Hillhouse funds
Texas County & District Retirement System (TCDRS) has put $200 million towards Hillhouse Capital’s latest Asia fundraising effort, committing to three separate funds.
Infratil, Morrison bid $524m for Australia radiology business
New Zealand infrastructure investors Infratil and HRL Morrison have offered to acquire a 75% stake in Australia-based radiology business Qscan for an enterprise valuation of A$735 million ($524 million), facilitating an exit for Quadrant Private Equity.
Warburg Pincus tips Converge to sustain rapid growth
Philippines-based broadband provider Converge ICT has completed the country’s largest-ever IPO on the back of a tenfold expansion in the past four years as local consumers sign up to highspeed internet services previously unavailable to them.
Deal focus: Delta, Daiwa target Myanmar’s PET peeve
Commercial Plastics Holding - the target of a rare Myanmar private equity buyout - is being positioned as a leader in the country's plastic bottle recycling industry