The chairman and largest shareholder in scandal-hit Chinese coffee shop chain Luckin Coffee has been removed at the second attempt. Representatives of several of the company’s private equity backers have also left the board.
Earlier this month, an internal investigation confirmed large-scale financial fraud at Luckin and a special committee recommended that Zhengyao Lu be replaced as chairman. He survived a shareholder vote...
Rocket Lab, a US-based space technology company that operates primarily in New Zealand, as agreed to merge with a special purpose acquisition company (SPAC) at an enterprise valuation of $4.1 billion.
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
See Fund, an investment firm established by the founder of Chinese artificial intelligence chip start-up DeePhi Technology, has raised RMB200 million ($31 million) for its debut fund.
India’s Oaks Asset Management has raised INR4 billion ($55 million) for its second mid-market consumer private equity fund. The overall target is INR5 billion.