Investments
TPG backs European jewelry brand with strong China focus
A TPG Capital-led consortium will acquire a 30% stake in APM Monaco, a jewelry brand that was established in Europe nearly 40 years ago and now has its largest retail footprint in China.
BlackRock leads $150m round in China’s Luckin Coffee
Chinese coffee shop chain Luckin Coffee has raised $150 million in an extended Series B round at a valuation of $2.9 billion. It was led by BlackRock, which committed $125 million to the deal.
Gaw Capital backs Chinese restaurant services platform
China-based Candao, which helps restaurants manage their online food delivery businesses, has raised RMB100 million ($14.9 million) in a Series A round led by Hong Kong-based Gaw Capital Partners and Beyond Ventures.
China early-stage investment round-up
Venture capital deals involving Pantera Capital, Third Rock Ventures, Hillhouse Capital, XVC, Angel Plus, SIG, Maxim Capital, Panda Capital, Baidu Ventures, and Matrix Partners China
Indonesia infrastructure: Forging frameworks
Indonesia has set the stage for more private sector involvement in a government-dominated and desperately underdeveloped infrastructure space. A range of intangibles could impede the integration
DCP closes debut China fund at $2.5b
DCP Capital – a PE firm established by David Liu (pictured) and Julian Wolhardt, who previously held leadership positions with KKR in China – has closed its debut fund with around $2.5 billion in commitments. It comprises a US dollar-denominated tranche...
Chinese new energy vehicle maker Enovate raises $298m
China-based Enovate, which designs and produces new energy-powered vehicles, has raised RMB2 billion ($298 million) in a Series A round.
TA invests in India fertility business
TA Associates has acquired a significant minority stake in Indira IVF, an India-based provider of infertility services.
Jade Invest acquires China's Pudow Water
Chinese mid-market private equity buyout firm Jade Invest has acquired a controlling stake in Shanghai-based water purification company Pudow Water for an undisclosed sum.
INCJ-backed Japan Display agrees $2.1b foreign bailout
Japan Display, an electronics supplier backed by Innovation Network Corporation of Japan (INCJ), has agreed a JPY232 billion ($2.1 billion) bailout, including an approximately $714 million investment from China’s Harvest Fund Management.
Legend leads round for Chinese self-driving tech specialist
China and US-based autonomous driving technology developer Black Sesame has completed its Series B round of funding, raising around $100 million led by Junhai Chuangxin, an investment vehicle under Legend Capital.
ADB, Kaizen back Philippines education business
The Asian Development Bank (ADB) and education-focused Kaizen Private Equity have invested PHP1.6 billion ($31.5 million) in Phinma Education Holdings, the tertiary education arm of Philippines-based conglomerate Phinma.
IDG, CDH back China cancer testing kits producer
IDG Capital Partners and CDH Investments have led an RMB300 million ($45 million) Series B round for China-based Creative Biosciences, a manufacturer of testing kits for colon cancer.
Japan's Astroscale expands Series D by $30m
Astroscale, a Japan-based space technology company focused on debris removal, has announced a $30 million extension to its Series D round, bringing the total raised to $80 million.
China’s Pony.ai to receive $50m from Beijing Kunlun Tech
China and US-based autonomous driving technology developer Pony.ai will receive $50 million from listed internet company Beijing Kunlun Tech in a deal that values the business at approximately $1.7 billion.
Sequoia China, HighLight back biotech player Cullgen
Sequoia Capital China and HighLight Capital have led a $16 million Series A round for Cullgen, a biotech company that develops treatments for cancer by targeting previously “undruggable” cellular proteins.
Deal focus: Efficiency by numbers
Chinese big data services provider MiningLamp Software has raised $298 million with a view to expanding into new verticals. The effort will leverage a strong foothold in police and surveillance work
INCJ leads $230m round for Japan's JOLED
Innovation Network Corporation of Japan (INCJ) has led a JPY25.5 billion ($230 million) round for domestic display screen manufacturer and technology developer JOLED.
AIGF backs Philippines co-working player
ASEAN Industrial Growth Fund (AIGF), a vehicle jointly managed by Malaysia’s CIMB Group and Japan’s Mitsubishi Corporation, has made an investment of undisclosed size in Philippines co-working space provider KMC.
Bain falls short in tender offer for Japan's Kosaido
The proposed JPY17.4 billion ($157 million) acquisition of Japanese printing and IT services provider Kosaido by Bain Capital has reached an impasse after the private equity firm’s tender offer failed to win sufficient shareholder support.
Rakuten Capital, EV Growth back Singapore's ShopBack
Rakuten Capital and EV Growth have joined a $45 million round for Singapore-based retail rewards platform operator ShopBack.
Singapore's TPG-backed AirTrunk raises $333m
TPG Capital and Goldman Sachs have joined a S$450 million ($332.6 million) investment in AirTrunk, a Singapore-based provider of data center services.
1Q analysis: China malaise
First quarter analysis: China uncertainty hits PE investment; public market instability holds back IPOs; distress strategies underpin India fundraising as commitments to China-focused managers plummet
Deal focus: Everstone revisits India’s hospitals
Everstone Group acquires Sahyadri Hospitals to serve as the seed asset for a planned national healthcare delivery strategy
