Vietnam-based Mekong Capital has exited its stake in Asia Chemical Corporation (ACC), a domestic industrial supplier, for $8.9 million, generating a gross return multiple of 2.6x and a gross IRR of 15.1%.
The private equity firm initially invested $3.8 million in the company in 2011. ACC was the tenth and final investment for the firm’s Mekong Enterprise Fund II (MEF II). It was also the final divestment...
The Blackstone Group has agreed to invest $400 million in YiChang HEC Changjiang Pharmaceutical (HEC Pharm), a Chinese drug developer listed in Hong Kong, through a convertible bond issuance.
Silicon Valley-based seed-stage accelerator Y Combinator (YC) has chosen Qi Lu, the former group president and COO of search giant Baidu, as the founding CEO of its China branch, YC China.
Singapore’s Golden Equator has launched an accelerator in Brunei aimed at helping local small to medium-sized enterprises (SME) expand across Southeast Asia.
Clobotics, a China and US-based computer vision start-up backed by a number of venture capital firms, has raised $11 million in Series A funding.