Articles by Tim Burroughs
Hong Kong seeks to address carried interest concerns
The Hong Kong government has pledged to resolve uncertainty within the private equity industry on the taxation of carried interest as part of efforts to make the territory more attractive to fund managers.
AVCJ Awards 2019: Firm of the Year - Large Cap: PAG
China’s private consumption story continues to be a driving force for PAG Asia Capital. The GP also won prizes for Deal of the Year - Large Cap and Fundraising of the Year - Large Cap
FountainVest backs China online ticketing player Maoyan
FountainVest Partners has acquired a significant minority stake in Maoyan Entertainment, a Chinese online ticketing business that completed an IPO in Hong Kong last February.
Hony commits capital to its Hong Kong-listed restaurant platform
Hony Capital has injected HK$780 million ($100 million) into Best Food Holdings, the Hong Kong-listed platform it established in 2016 to make investments in China’s food and beverage industry.
China PE: Tipping point?
Uncertainty continued to weigh on China private equity deal flow last year, leaving plenty of capital sitting on the sidelines waiting to reengage. GPs see diversification as an antidote to competition
KKR pumps $150m into its India credit business
KKR has committed an additional $150 million in funding to its India-based non-banking financial company (NBFC), citing strong growth prospects for credit investment in the country.
Fajr Capital exits Brunei bank
Fajr Capital, a Dubai-based private equity firm that makes investments in the Middle East and Southeast Asia, has exited its position in Bank Islam Brunei Darussalam (BIBD).
Fund focus: Unicorn prepares for turbulence in China's VC space
China-focused venture capital fund-of-funds Unicorn Capital Partners, which has raised $350 million for its latest vehicle, expects consolidation in the tech investment space as underperforming GPs flounder
China's Qiming names Grace Lee as COO
Grace Lee (pictured), has been appointed COO at Qiming Venture Partners, in addition to her existing roles as a partner and CFO – one of several people moves within the Chinese venture capital firm.
Ascendent surpasses $1b for latest China fund
Ascendent Capital Partners has closed its third China fund with more than $1 billion in commitments, having increased the hard cap.
Zhiyun raises $144m for chronic disease management platform
Zhiyun Health, a Chinese online healthcare services provider, has raised more than RMB1 billion ($144 million) across two rounds. It describes the investment as the largest private funding event globally in the chronic disease management space.
China's Transcenta secures $100m funding round
Transcenta Holding, a Chinese biotech company formed last year through the merger of MabSpace Bioscience and Hangzhou Just Biotherapeutics (HJB), has raised $100 million in an extended Series B funding round.
Chinese drug developer wins General Atlantic backing
General Atlantic has led a $69 million Series D round of funding for Adagene, a Chinese drug developer with one cancer treatment currently in phase one clinical trials in China and the US.
TA promotes India-based Sharma to principal
Aditya Sharma, who makes investments in India for TA Associates, has been promoted from senior vice president to principal.
Longreach buys another Japanese coffee shop chain
The Longreach Group has made its second foray into Japan’s coffee shop space with an agreement to acquire Chat Noir, operator of more than 190 stores nationwide, primarily under the Caffe Veloce brand.
Riverside exits Malaysian chemicals business
The Riverside Company has exited one of its few remaining Asia Pacific investments outside of Australia with the sale of Malaysia-based specialty chemicals distributor DCM Asia.
Everstone backs US, India-based generics developer
The Everstone Group has agreed to invest $50 million in Slayback Pharma, a developer of generic and specialty drugs with a presence in India and the US.
India's True North makes $75m biosimilars bet
True North has invested INR5.36 billion ($74.6 million) in the biosimilars business of India-listed pharmaceuticals giant Biocon.
VIG reaches $810m final close on fourth Korean fund
VIG Partners has closed its fourth Korea-focused fund at $810 million, with approximately half the commitments coming from international investors. This compares to 30% for Fund III, which closed at $600 million in 2017.
To pastures new: Asia PE people moves
A selection of the transfers, promotions, arrivals and departures in the private equity community in 2019
Talking points: 2019 in quotes
What industry participants had to say at AVCJ events on co-investment, technology opportunities in Vietnam, what LPs want to hear from GPs, Indian buyouts, long-dated funds, and late-stage deals in China deployment during times of uncertainty, responding...
SoftBank Vision Fund invests $275m in India's Lenskart
SoftBank Vision Fund has led a Series G round of more than $275 million for Lenskart, an Indian omnichannel eyewear retailer, facilitating exits for several early investors.
Timeline: 2019 by numbers
A selection of the key fundraising, investment and exit events - presented in chronological order - from the past 12 months
China's Hua Capital buys chip unit from US-listed Synaptics
Hua Capital, a Chinese investment firm that primarily focuses on the semiconductor industry, has agreed to acquire an Asia-based mobile LCD chip business from US-listed Synaptics for $120 million in cash.