Malaysian government-backed private equity firm Ekuinas has exited its entire majority holdings in local healthcare players MediExpress and PMCare to Japan’s Sumitomo Corporation.
Ekuinas said it would generate an IRR of 39% from the divestment of a 60% stake in each company. The firm acquired both positions in late 2015 for MYR79.8 million ($19.5 million). It was Ekuinas’ first...
Trax, a Singapore-based developer of retail computer vision and analytics solutions with several private equity backers, has acquired US-based shopping rewards app developer Shopkick for an undisclosed amount.
Chinese art education platform Yiqi Technology Group has raised $40 million in the first tranche of a Series C round led by Tencent Holdings. It is said to be the largest-ever funding round for a start-up in this space.
Australia’s Square Peg has secured two new superannuation fund backers for its second fund, which has closed at A$340 million ($237 million).
JD Logistics, the delivery unit of Chinese e-commerce giant JD.com, has reached a first close on a renminbi-denominated fund that invests in smart logistics and related technologies. The full target for the vehicle is RMB1.5 billion ($218 million).