FountainVest Partners has set a target of $2.8 billion for its fourth China-focused fund, with a first close of more than $1 billion expected as soon as this week.
The GP has set the hard cap at $3.2 billion, according to sources familiar with the situation. Existing investors account for the bulk of the first close, though there is some new money as well. FountainVest...
Yunwang Wandian, the e-commerce services arm of Suning.com, one of China’s largest retailers, has raised a RMB6 billion ($912 million) Series A round led by Shenzhen Capital Group.
Southeast Asia-focused private equity firm KV Asia Capital has exited TF Value Mart (TFVM), a Malaysia-based grocery retailer in which it has held a controlling stake since 2016, to Intermediate Capital Group (ICG).
NextGen Funds Management, a newly established GP in Australia, has launched what it is calling the country’s first dedicated artificial intelligence (AI) fund.
Hong Kong’s 3W Fund Management has led a $43 million Series E round for CANbridge Pharmaceuticals, a Beijing-based drug developer that focuses cancer and rare diseases.