GPs & SPACs: Filthy lucre?
The global SPAC craze is percolating into Asia, with private equity firms among the sponsors. LPs aren’t necessarily comfortable with the development, but there’s only so much they can do about it
The communique to LPs hits all the right notes. It emphasizes how “this strategic initiative” will deliver an “immense structural advantage in the global technology landscape,” it dangles the promise...
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Ince leads $30m round for China’s PhiGent Robotics
Beijing-based autonomous driving solutions provider PhiGent Robotics has raised a USD30m Series A round led by Ince Capital. Previous investors such as Atypical Ventures, 5Y Capital, and GSR Ventures re-upped.
China's BlueRun $819m across US dollar, renminbi funds
China-based BlueRun Ventures has closed its third US dollar-denominated China fund and third renminbi vehicle with aggregate commitments of CNY 5.5bn (USD 819m).
Singapore's Azalea targets $754m PE-backed bond offering
Temasek Holdings-owned Azalea Investment Management is further expanding retail exposure to private equity through its latest issue of bonds – worth USD 754m in total – backed by LP interests in funds.
Hong Kong's Betatron hits $15m first close on VC fund
Hong Kong’s Betatron Venture Group has reached a first close of USD 15m on its latest fund, which will make early-stage investments across South and Southeast Asia. The target is USD 50m.