Timeline: 2020 by numbers

$810m – VIG Partners closes its fourth Korea fund at $810 million

$207m – A private equity consortium backed by GP EMR Capital agrees a $207 million gold mine acquisition

4th – Baring Private Equity Asia closes its seventh fund at $6.5 billion. It is the fourth-largest pan-Asian PE vehicle ever raised

$3.4b – Australia’s AMP Capital closes its latest global infrastructure fund at $3.4 billion

$500m – ESR, an Asia-focused logistics platform, forms a joint venture with Singapore’s GIC to invest $500 million in China

8x – French GP Tikehau Capital exits Singapore workspace provider JustCo, achieving a net profit $20.5 million and an 8x return

$1b – Ascendent Capital Partners closes its third China fund with more than $1 billion in commitments

$350m – PE-backed Zomato buys Uber Eat’s Indian business for about $350 million

1st – BP makes its first investment in China’s artificial intelligence sector, backing R&B Technology through a VC arm

$6.2b – Ares Management agrees to buy Hong Kong’s SSG Capital, a credit and special situations manager with $6.2 billion in assets under management and $3.9 billion in dry powder

$920m – SBI Investment launches a tech vehicle targeting $920 million. It is set to be Japan’s largest fund focused on start-ups

4th – Korea’s Hahn & Company agrees to buy SK Chemicls for $322 million, its fourth carve-out from Korea’s SK Group

$1.3b – KKR closes its debut global impact investment fund at $1.3 billion. One third is earmarked for Asia

$1,770 – The Carlyle Group exits footwear brand Golden Goose to Permira for $1.4 billion. Its shoes cost up to $1,770 a pair

$3b – China’s Pony.ai, an autonomous driving supplier, raises a $462 million round led by Toyota at a $3 billion valuation

10% – Hong Kong’s $28 billion Future Fund makes a 10% allocation to direct investments that support the local economy

$10b – Japan’s Mitsubishi UFJ Financial Group and TIS Intec Group invest $856 million in Singapore’s Grab at a $10 billion valuation

1st – Lever VC invests Singapore’s TurtleTree Labs, which claims to be the world’s first company to synthesize cell-based milk

$950m – China’s CMC Capital Partners closes its third US dollar fund at $950 million

$650m – RTP Global, a Russian VC firm that invests in Asia, raises $650 million for Fund III

$324m – KKR agrees to sell its majority stake in Japan DJ equipment maker AlphaTheta Corporation for $324 million

$1.5b – CDH Investments closes its sixth flagship US dollar fund at $1.5 billion

$765m – Jafco, Japan’s largest venture capital investor, closes its sixth flagship fund at the hard cap of $765 million

$1.5b – India hotel platform Oyo closes a $1.5 billion Series F featuring SoftBank Vision Fund

$500m – Korea’s Mirae Asset Global Investments leads a $500 million round for food tech player Impossible Foods

$1.4b – Australia health services provider Healius rejects a $1.4 billion buyout offer from Partners Group

$2.3b – The Carlyle Group raises $2.3 billion for its fourth Japan buyout fund, more than doubling the size of the prior vintage

$1.4b – Li & Fung is privatized by its founders and GLP at a valuation of $1.4 billion

APRIL

$7.8b – China education start-up Yuanfudao sees its valuation hit $7.8 billion after a $1 billion round led by Hillhouse Capital

$1.1b – Qiming Venture Partners closes its seventh US dollar China fund at $1.1 billion

75% – PE-backed Luckin Coffee admits it fabricated $310 million worth of sales, prompting a 75% plunge in its stock price

$4.5b – CVC Capital Partners closes its fifth Asia fund at the hard cap of $4.5 billion

$1.5b – Lightspeed Venture Partners raises $4 billion across early and growth-stage funds, including $1.5 billion for a fund that will support breakout companies in markets like Asia

100% – Baring Private Equity Asia’s investment committee members commit 100% of their base salaries to a COVID-19 relief fund

$1.1b – CDH Investments closes its fifth China mezzanine fund at $1.1 billion. It is the largest vehicle of its kind solely targeting China

$1b – GIC Private and cloud services provider Equinix invest $1 billion in data centers in Japan.

$2.1b – GLP, a PE-owned warehouse operator based in Singapore, closes its latest China logistics fund at $2.1 billion

$1.6b – China Internet Investment Fund backs chipmaker ASR Microelectronics at a valuation of $1.6 billion

$3.3b – The Startup Association of India calls on the government to bolster an existing state-backed VC fund with $3.3 billion

$2b – Korea Development Bank and Korea Growth Investment jointly commit $2 billion to the local VC ecosystem

$1b – Bain Capital submits a $1 buyout offer for Japan health services player Nichii Gakkan

$6.5b – MBK Partners closes its fifth North Asia fund at $6.5 billion. It is the joint third-largest PE vehicle targeting the region

$860m – Cathay Capital closes its second middle-market fund for China, Europe and North America at $860 million

$413m – IMM Private Equity agrees to acquire Korea Kolmar Holdings’ pharmaceutical services unit for $413 million

$300m – ADQ, a state investor in the United Arab Emirates, launches a $300 million for Asian start-ups targeting the Middle East

$1.2b – KKR supports a $1.2 billion debt package for auto parts supplier Marelli

$2b – Facebook and PayPal join a Series F round for Indonesia’s Gojek seeking $2 billion at a valuation of $9-10 billion

$19b – Ardian closes its eighth global secondaries fund at $19 billion. It is the largest-ever vehicle raised for the strategy

$500m – SoftBank’s second Vision Fund leads a $500 million round for the autonomous driving unit of China’s Didi Chuxing

88 – Japan’s Accordia Golf, which is owned by MBK Partners, agrees to buy a portfolio of 88 golf courses for $577 million

$1.1b – Baring Private Equity Asia offers to privatize India’s Hexaware Technologies at a valuation of $1.1 billion

$310m – China’s Everest Medicines raises $310 million in Series C funding across two tranches

$650m – A KKR-led consortium invests $650 million in Vinhomes, Vietnam’s leading integrated real estate developer

$8.7b – Chinese online marketplace 58.com agrees to be acquired by a PE consortium at a valuation of $8.7 billion

$341m – BGH Capital agrees to buy the primary care business of Australia’s Healius for an enterprise valuation of $341 million

49% – China’s VC-backed Burning Rock Biotech gained 49% on its trading debut after a $223 million US IPO.

$1.7b – Korea commits $1.7 billion to local start-ups in biotech and non-contact tech as part of a COVID-19 recovery plan

$750m – Matrix Partners China raises $750 million for its sixth early-stage VC fund

3x – Drug developer SinocellTech nearly trebled in value on its first day of trading on China’s Star Market after a $181 million IPO.

$6b – Australia graphic design platform Canva raises $60 million in VC funding, almost doubling its valuation to $6 billion

$750m – HQ Capital raises $750 million for its largest-ever global platform fund. The target was $600 million

$1b – ESR, an Asian logistics investor backed by Warburg Pincus, raises $1 billion for its second Korea fund

$750m – Fountainvest Partners and Tiger Global Management lead a $750 million round for China education platform Zuoyebang

1st – Bond Capital strikes its debut deal in India, backing education tech player Byju’s at a reported valuation of $10.5 billion

151% – Agora.io, a Chinese voice and video platform, gains 151% on its NASDAQ trading debut following a $350 million IPO

$5b – China launches a government guidance fund for small to mid-sized businesses with initial commitments of $5 billion

$400m – Hillhouse Capital takes a 4% interest in US-listed Chinese data center developer GDS Holdings for $400 million

JULY

$1.3b – Sequoia Capital closes its latest set of funds for India and Southeast Asia with $1.3 billion in commitments

$765m – Chinese VC-backed co-working business Ucommune is acquired by a US-listed special acquisition company for $765 million

$416m – KKR agrees to buy a 54% stake in Indian drug maker J.B. Chemicals & Pharmaceuticals for $416 million

47 – India bans 47 Chinese apps as bilateral tensions mount. It brings the total to 106, with another 275 under watch 

$820m – B Capital Group, a US-based VC a significant Asia portfolio, closes its second global fund at $820 million

$10b – Google announces a $10 billion fund that will increase the pace of digitization in India

$880m – DCM Ventures raises $880 million across two technology funds, with 70% of the capital earmarked for China

$1.4b – Global institutional investors pump an estimated $1.4 billion into Australia power company TransGrid

43% – Chinese PE-backed electric carmaker Li Auto closes up 43% on its first day of trading after a $1.1 billion US IPO

$1.5b – Hillhouse Capital invests $1.5 billion in Chinese electric car battery maker Contemporary Amperex Technology

$1.2b – Walmart leads a $1.2 billion round for Indian PE-backed retailer Flipkart

$20b – Google agrees to invest $4.5 billion in Jio Platforms, bringing total capital raised by the Indian company to $20 billion in a seven-month period

$1.4b – China’s Suzhou High-tech Zone launches a $1.4 billion integrated circuit fund

$495m – CICC Capital leads a $495 million round for Chinese online grocer Miss Fresh

AUGUST

$12.6b – China raises an initial $12.6 billion for the first dedicated environmental fund launched by the central government

$1.8b – Pacific Equity Partners closes its sixth Australia and New Zealand buyout fund at the hard cap of $1.8 billion

41% – Shares in Chinese electric vehicle maker Xpeng gain 41% after raising $1.5 billion in an upsized US IPO

$543m – BGH Capital agrees to acquire Australia cinema and theme park operator Village Roadshow for $543 million

$800m – Alibaba Group leads a $300 million round for Chinese electric vehicle maker Xpeng two weeks after a $500 million Series C

$748m – CanSino Biologics, a VC-backed COVID-19 vaccine developer, raises $748 million in an IPO on Shanghai’s Star Market

$357m – Australia’s Blackbird Ventures raises $357 million for Fund IV, putting assets under management at $1.2 billion

1st – The Blackstone Group agrees its first Japan carve-out, buying a Takeda Pharmaceutical portfolio for $2.3 billion

$500m – MDI Ventures, the corporate VC arm of state-owned Telkom Indonesia, closes its latest fund at $500 million

$830m – Hillhouse Capital commits $830 million to JD Health, a unit of Chinese e-commerce giant JD.com

35% – A private equity consortium axes its offer for New Zealand dentistry chain Abano, citing COVID-19. It will later bid again, proposing a 35% lower price

$300m – PAG acquires a 51% stake in the wealth management business of India’s Edelweiss Group for $300 million

$350m – Ontario Teachers’ Pension Plan commits $350 million to the credit unit India’s Edelweiss Group

$600m – China Renaissance closes the third US dollar fund under its Huaxing Growth Capital platform at $600 million

$6.4b – Silver Lake puts $1 billion into India’s Reliance Retail, kicking off a round that will close at $6.4 billion in two months

$438m – Vertex China, a VC firm affiliated with Temasek Holdings, closes its first renminbi fund at $438 million

$433m – Navis Capital Partners sells the Australia and Southeast Asia assets of education business Modern Star to Pacific Equity Partners at a valuation of $433 million

3.3x – Kimberly-Clark agrees to buy Softex Indonesia for $1.2 billion, setting up a 3.3x exit for CVC Capital Partners

$418m – China’s PE-backed I-Mab Biopharma, which listed in the US in January, raises $418 million via private placement

$5.6b – DCP Capital Partners offers to privatize China recruitment platform 51job at a valuation of $5.6 billion

$516m – Evergrande New Energy Vehicle raises $516 million from a group including Sequoia Capital China and Yunfeng Capital

14.7x – Pacific Equity Partners agrees to buy Australia IT player Citadel for $367 million, signifying an EBITDA multiple of 14.7x

$374m – Bain Capital agrees to acquire Japan pharmacy operator Kirindo in a deal that values the business at $374 million

$2b – TPG Capital joins a consortium looking to acquire the Singapore business of UK insurance giant Aviva for $2 billion

$2b – GGV Capital returns to market with its latest set of China and US-focused funds, seeking to raise $2 billion in total

$500m – Ascendent Capital Partners makes its largest investment ever, committing $500 million to Chinese supermarket Wumart

$1b – Japan mobile gaming start-up Playco raises a $100 million Series A round at a valuation of $1 billion

$450m – CLSA Capital Partners closes its fourth Japan mid-market fund at $450 million after three months in the market

$1.5b – PE-backed electric vehicle maker WM Motor raises $1.5 billion. It is called the largest single round in China’s EV space

$450m – Chinese VC firm M31 Capital raises $450 million for its debut US dollar fund, beating a target of $400 million

$319m – China and US-based drug developer XtalPi raises a $319 million round featuring SoftBank Vision Fund

$308m – CITIC Capital and SF Holdings, the parent company of Chinese courier SF Express, launch a $308 million logistics fund

$946m – Bain Capital launches its first dedicated  Japan fund with a target of $946 million

$372m – PE-backed Genor Biopharma raises $372 million through a Hong Kong IPO

$13.1b – KKR gathers commitments of $13.1 billion for its fourth Asia buyout fund. A final close is expected in early 2021

36% – Shares in CBC Group-backed Everest Medicines gain 36% in early trading following a $451 million Hong Kong IPO

$680m – Warburg Pincus-backed broadband provider Converge ICT raises $680 million in the Philippines’ largest-ever IPO

$608m – Chinese low-cost retailer Miniso raises $608 million in a US IPO. Hillhouse Capital is the company’s largest external shareholder

$742m – China electric carmaker Enovate raises $742 million from government guidance funds and state-owned banks

$1.1b – China’s Gaorong Capital closes its fifth US dollar fund at $1.1 billion, bringing assets under management to $4 billion

$524m – Australia radiology business Qscan receives $524 million acquisition offer, setting up an exit for Quadrant Private Equity

$15.5b – China education start-up Yuanfudao raises $2.2 billion at a valuation of $15.5 billion, nearly double its valuation in April

$1b – Sinovation Ventures targets $1 billion for a fund that will introduce artificial intelligence to traditional industries.

3 – SAIF Partners India closes its fourth fund at $400 million three weeks after launch and rebrands as Elevation Capital

$360m – Ontario Teachers’ Pension Plan leads a $360 million investment in Singapore data center developer Princeton Digital Group

$567m – China’s Source Code Capital closes its fourth renminbi fund at $567 million, taking assets under management to $2.8 billion

20% – Bain Capital-owned data center operator Chindata gains 20% on its US trading debut following a $540 million IPO

$315m – China-based Zhenkunhang, a distribution platform for industrial products, raises a $315 million in a Series E funding round led by YF Capital

$2b – China’s Dmall raises a $419 million Series C at a valuation of $2 billion

$2.6b – Financial services platform Lufax raises $2.36 billion in the largest US IPO by a PE-backed Chinese company this year

$5.3b – Ontario Teachers’ Pension Plan Board backs China autonomous driving supplier Pony.ai at a post-money valuation of $5.3 billion.

$1.4b – Polaris Capital Group nears a final close on its fifth Japan buyout fund after hitting the hard cap of $1.4 billion

$1.6b – KKR agrees to acquire Walmart’s Japan supermarket chain Seiyu at a valuation of $1.6 billion

$1.2b – Asia-focus renewable energy owner-operator Equis Development raises $1.2 billion for a corporate vehicle rather than a traditional fund

$1.5b – China’s Yingke Private Equity raises $1.5 billion for a tech and biomedicine fund

$1.1b – MBK Partners offers to privatize China Auto Rental at a valuation of 1.1 billion.

$455m – DCL Investments, one of China’s first distress-focused PE firms, raises $455 million for its latest renminbi vehicle.

75% – China cosmetics brand Perfect Diary gains 75% on debut after a $617 million US IPO. Backers include Hillhouse Capital and Gaorong Capital

$1.8b – Axiom Asia closes its sixth regional fund-of-funds at the hard cap of $1.8 billion

$2b – Tiger Global Management and Dragoneer Investment back India’s Unacademy at a valuation of $2 billion

$1.7b – SoftBank, Sequoia Capital China, Permira, and Fidelity lead a $1.7 billion round for Manbang, China’s “Uber for trucks”

$3.5b – China’s JD Health, which has received $1.9 billion from private funding, raises $3.5 billion in an IPO. It is the largest PE-backed offering in Hong Kong in two years

$387m – NZ Super and Ontario Teachers’ Pension Plan carve out Healthscope’s New Zealand pathology business for $387 million

$459m – China Everbright reaches a first close of $459 million on an environment-focused fund targeting Belt and Road markets

$5.5b – PhonePe, the payments platform of India’s Flipkart, spins out and raises $700 million at a post-money valuation of $5.5 billion

$376m – Chang Guang Satellite Technology raises $376 million, the largest round yet in China’s commercial aerospace industry

$912m – Yunwang Wandian, the e-commerce arm of China’s Suning, raises $912 million Series A led by Shenzhen Capital Group

164,550 – GIC leads a $100 million round for China’s Huice, an e-commerce enabler that can process 164,550 orders per second

$1.1b – Square Peg Capital closes its third fund at $450 million becoming the best capitalized VC in Australia with $1.1 billion under management

$1b – The Blackstone Group agrees to buy India’s Piramal Glass for an enterprise valuation of $1 billion

79% – China toymaker Pop Mart gains 79% on its Hong Kong debut after a $674 million IPO. Sequoia Capital China holds a 4.4% stake

$700m – CVC Capital Partners agrees to buy Myanmar’s Irrawaddy Green Towers at a reportedly $700 million valuation

$3.8b – New Zealand infrastructure investor Infratil rejects $3.8 billion takeover offer from AustralianSuper

$1.2b – Japan’s Integral Corp closes its fourth buyout fund at the hard cap of $1.2 billion

$400m – China VC firm ZWC Partners completes a first close of $400 million on its second US dollar fund

$450m – Everstone Group agrees to sell outsourcing player Everise to Brookfield Asset Management for an estimated $450 million

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