AVCJ

Weekly digest - May 04 2022

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04 May 2022
ASIA PRIVATE WEALTH: TALENT WAR
COVER STORY
A shortage of fundraisers familiar with the HNWI segment is being keenly felt in Asia as global GPs look to raise more capital through private bank channels.
LP INTERVIEW
BRITISH INTERNATIONAL INVESTMENT
BRITISH INTERNATIONAL INVESTMENTBritish International Investment, formerly CDC Group, is doubling down on an already massive Asia program as it heeds the call for climate action. Specialist funds are the priority.
Q&A
MICHAEL YAO OF ZWC PARTNERS
MICHAEL YAO OF ZWC PARTNERSMichael Yao, a partner at ZWC Partners, discusses valuations, exit obstacles, and artificial intelligence in China, as well as the scope for applying China knowledge in Southeast Asia.
FUND FOCUS
MASSMUTUAL VENTURES WIDENS REMIT
MASSMUTUAL VENTURES WIDENS REMITHaving started a Southeast Asia specialist, MassMutual Ventures has broadened its regional coverage to include everything outside of China. Europe is also part of the equation for Fund III.
DEAL FOCUS
LAIYE LEVERAGES EUROPEAN CONNECTIONS
LAIYE LEVERAGES EUROPEAN CONNECTIONSM&A helped Chinese artificial intelligence start-up Laiye develop its product and gain a foothold in Europe. With more than USD 160m in Series C funding, the company is aggressively targeting global expansion.
By the Numbers
AVCJ RESEARCH
AN ESTABLISHED SPECIALISM?
Three funds of USD 1bn or more have been raised for deployment in Asia’s healthcare sector. Two of them achieved final closes in the past 18 months: Lilly Asia Ventures (USD 1.35bn) and CBC Group (USD 1.67bn). Quadria Capital wants to join this select group, having said it will seek up to USD 1bn for its third fund. The firm, which invests across South Asia and Southeast Asia, raised USD 595m last time around. CBC could make it five, should its China healthcare infrastructure fund close on target at USD 1.5bn. Seven of the 15 largest Asia healthcare vehicles to reach partial or final closes since 2015 did so in the past two years. There are six from the 2021 vintage alone, suggesting that healthcare as a specialisation within private equity is gaining traction.
AN ESTABLISHED SPECIALISM?
All of the trends featured here were sourced from AVCJ's proprietary database, AVCJ Research, featuring comprehensive information on private equity deals, fundraises and exits.
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