An investor group led by NewQuest Capital Partners is calling for the removal of five directors of China Hydroelectric Corporation, citing strategic and operational issues at the company and the apparent lack of credibility and accountability on the board. The group has nominated four replacements. An extraordinary general meeting was scheduled for September 28.
In addition to NewQuest, which spun out from Bank of America Merrill Lynch last year and specializes in direct secondary transactions, the group comprises Swiss Re, Tsing Capital's China Environment Fund...
Chinese gene therapy specialist Exegenesis Bio has received $20 million in Series B funding led by Legend Capital. It will be used to support clinical development of the company’s drug portfolio.
Alibaba Group has led a $300 million round for Chinese electric vehicle (EV) manufacturer Xpeng Motors. It comes barely two weeks after the company closed an extended Series C round of $500 million.
EDBI, the investment arm of Singapore’s Economic Development Board, has invested in Vesta, a US-based fraud and payment technology start-up with ambitions to expand into Asia.
Hana Financial has invested KRW100 billion ($85 million) in a portfolio of Korean waste to energy (WTE) projects controlled by Global Infrastructure Partners (GIP).