Articles by Alvina Yuen
SingTel's Amobee buys VC-backed ad startup
Singapore Telecommunications, Southeast Asia's largest telecoms company, has acquired AdJitsu, a VC-backed Silicon Valley startup in the mobile advertising sector. This is SingTel's second acquisition in two months.
JAFCO backs US-based pharma company in Series A funding
JAFCO has invested $10 million in the Series A financing of Eleven Biotherapeutics, a US-based biopharmaceutical company designing and engineering novel and differentiated protein-based biotherapeutics.
Goldstone Investment to launch PE fund
CITIC Securities’ direct investment arm, Goldstone Investment, has gained approval from the China Securities Regulatory Commission (CSRC) to set up a private equity fund. It makes CITIC Securities the second brokerage to win approval to raise and manage...
RMB partnership funds face tax trouble
The Chinese government is preparing legislation that clarifies how GPs and LPs are taxed on gains derived from local currency partnership funds. Clearer guidelines would help, but it likely means a larger tax bill
Starfish Ventures invests $2m in gaming start-up Scalify
Starfish Ventures has invested $2 million into Melbourne-based gaming start-up Scalify for an undisclosed stake. The capital will primarily be used for sales and marketing.
China securities regulator to rein in IPO pricing
The China Securities Regulatory Commission (CSRC) has revised guidelines on new share issuance, requiring the selling party to disclose additional and detailed information if it prices its IPO at a price-to-earnings (P/E) ratio 25% higher than the average...
Foreign RMB funds to be classified as overseas entities
China’s National Development and Reform Commission (NDRC) has decreed that all the capital in renminbi-denominated funds raised by foreign PE firms must come from local investors if they are to be considered domestic entities. Failure to comply means...
CBC sets up Chinese venture with Evernote
China Broadband Capital (CBC) is working with US-based app maker Evernote on a China joint venture. It comes after the PE player led a $70 million Series D investment in the company alongside Meritech Capital.
China to include private equity in QFII program
The China Securities Regulatory Commission (CSRC) is seeking to include private equity and hedge funds in the country’s Qualified Foreign Institutional Investor (QFII) program.
Dutch pension funds invest $122m in Lemon Tree Hotels
Dutch pension fund manager APG has invested INR6.5 billion ($122 million) in Lemon Tree Hotels, India's largest chain of upscale hotels and resorts.
Cleary Gottlieb adds Ling Huang as partner in Beijing office
Global law firm Cleary Gottlieb Steen & Hamilton announced Ling Huang will join the firm as a partner in its Beijing office.
Belgian, Chinese sovereign funds to launch joint vehicle
China Investment Corporation (CIC) is launching a small fund to help domestic companies make investments in Europe in partnership with Belgian Federal Holding Company and A Capital.
PAG buys portfolio companies from Harmony Capital
PAG has taken full ownership of Harmony Investment Fund, and its associated portfolio companies, from Singapore-based Harmony Capital Management, sources familiar with the development told AVCJ.
Hony to sell Elpida plant to SMIC if bid succeeds – report
Hony Capital plans to sell or outsource the operations at Elpida Memory's Hiroshima plant to China-based Semiconductor Manufacturing International Corp. (SMIC) if it wins the bid for the bankrupt Japanese chipmaker.
Hong Kong Exchange Fund doubles PE investment in 2011
Hong Kong’s Exchange Fund, the vehicle responsible for managing foreign-exchange reserves, has diversified its portfolio by doubling commitments to private equity and real estate.
India hospitals: Capital cure
Badly in need of consolidation and infrastructure investment, India’s hospital chains are an attractive target for private equity. But identifying suitable targets and getting them to scale up remains a challenge
Xander completes $40m buyout of Indian office site
Xander Real Estate Partners, the property-focused PE arm of global investment firm The Xander Group, has acquired a Grade A office park in Chennai for $40 million from Appaswamy Real Estates.
Russia, China confirm $4b joint investment fund
Russia and China have confirmed plans for a joint $4 billion investment fund, which will be backed by initial $1 billion contributions from their respective sovereign wealth vehicles. Progress on the fund was announced at an economic forum in Moscow attended...
China consider capital gains tax for PE funds
China's central government is planning to impose a 35-40% capital gains tax on investments made by private equity and venture capital funds, as part of the effort to streamline its taxation system for such vehicles.
BlackRock, CIC to launch fund – report
BlackRock and China Investment Corp (CIC) have reportedly agreed to launch a multi-billion dollar investment fund.
IDFC Project Equity to launch second infrastructure fund
IDFC Project Equity, a subsidiary of Infrastructure Development Finance Company (IDFC), will launch its second India infrastructure fund later this year.
Mitsui & Co. Global Investment establishes Indian arm
Mitsui & Co. Global Investment, the private equity arm of Japanese conglomerate Mitsui & Co., has established an India operation in Mumbai.
Qiming invests $15 million in TutorGroup
Qiming Venture Partners has invested $15 million in Chinese online language tutoring company TutorGroup. The capital will be used to expand the company's service delivery capacity throughout the country.
Taiwan's GVT Fund leads Series E round in LED Engin
Taiwan-based GVT Fund, which is sponsored by Industrial Technology Investment Company, has led a Series E funding round in LED Engin, a California-based solid-state lighting company specializing in LED components and optics.