Investments
Bain seeks delisting of Chindata within three years of listing
Bain Capital has submitted a USD 2.9bn take-private bid for Chindata Group, a largely China-focused data centre operator that it assembled through a buy-and-build and took public in October 2020.
Japan's J-Star buys freight forwarding company
Japan’s J-Star has acquired local freight forwarding business Japan Trust Holdings for an undisclosed sum as part of a transportation services consolidation play.
PAG invests $200m in India's RK Pharma
PAG has invested USD 200m in RK Pharma, a US-headquartered generic drug maker with significant operations in India.
India’s HealthifyMe raises $30m
LeapFrog Investments and Khosla Ventures have led a USD 30m pre-Series D round for India-based mobile health and fitness app HealthifyMe.
CDH leads $52m round for China's Boss Digital
The venture-growth unit of China's CDH Investments has led a CNY 370m (USD 52m) round for Boss Digital Procurement Technology Development, a subsidiary of Shenzhen-listed Fujian Boss Software.
Bain boosts take-private offer for Australia's Estia
Bain Capital has increased its take-private offer for Australia-listed aged care provider Estia Health – to a point where the business is valued at about AUD 826.8m (USD 550m) – after an earlier bid was rejected.
NewQuest, GIC back Everbridge's South Asia continuation fund
NewQuest Capital Partners and GIC have supported a USD 267m continuation fund for Capital Group Private Markets spinout Everbridge Partners, two years after a larger deal involving some of the same assets failed to close amid portfolio volatility.
Nuvama leads $53m round for India's Course5
India’s Nuvama Asset Management, formerly Edelweiss Wealth Management, has led a USD 53m investment in local data analytics start-up Course5 Intelligence.
China AI player Mobvoi files for Hong Kong IPO
Mobvoi, which claims to be China’s largest revenue-generating artificial intelligence (AI) company focusing on content generation, has filed for a Hong Kong IPO.
Deal focus: Atomberg basks in consumer breakthrough
Home appliances manufacturer Atomberg defied the naysayers in building a hardware-focused consumer brand out of India. Its USD 86m Series C will support product and capacity expansion
Deal focus: Prosperity7 supports gradual ascent to L4
Saudi Aramco-owned Prosperity7 Ventures has made two investments in Hyperview this year, based on appreciation for the company’s commercially oriented approach to autonomous driving
Japan buyouts: Bucking the trend
Japan remains a private equity hotspot despite muted buyout activity elsewhere in Asia. Take-private and sponsor-to-sponsor opportunities make for a more textured local market
Deal focus: Evermos extends impact to social commerce
Indonesia’s Evermos has more than doubled its total funding as investors see promise in a social commerce model that prioritises cottage industries and underemployed women
Q&A: Jafco Asia’s Shahan Sud
Singapore’s Jafco Asia, a division of Japanese VC mainstay Jafco, hired Shahan Sud last year as its first in-country investment director for India. He explains a cross-border bridge long in the making
Praxis invests $170m in Korea's Beyond Music
Korean private equity firm Praxis Capital has led a USD 170m investment in local music rights investment and management company Beyond Music.
EMIA backs Cambodia logistics provider
Singapore-based private equity investor Emerging Markets Investors Alliance (EMIA) has confirmed an investment of undisclosed size in Cambodia’s FWF Full Well and Nisshin Logistics.
India satellite imaging player Pixxel gets $36m Series B
Google is one of several new investors in a USD 36m Series B round for Pixxel, an India-based satellite imaging provider targeting climate change use cases. The company has now raised USD 71m in private funding to date.
Little Red Book invests in PE-backed Chinese coffee chain
M Stand - a China-based coffee shop chain with ambitions to become the Starbucks for China's younger generation - has raised an extended Series B round of several hundred million renminbi led by local social commerce platform Little Red Book.
DCP agrees carve-out of Cargill's China poultry unit
DCP Capital has agreed to buy the China-based poultry business of US-headquartered food and agriculture corporation Cargill for an undisclosed sum.
Singapore’s Capillary Technologies gets $45m Series D
India-founded and Singapore-headquartered retail industry software-as-a-service (SaaS) provider Capillary Technologies has raised a USD 45m Series D round featuring India’s Avaatar Ventures.
Australia's GenesisCare files for US bankruptcy protection
GenesisCare, an Australia-headquartered cancer care provider in which KKR holds a minority stake, has filed for bankruptcy protection in the US and announced a restructuring that will separate US operations from those in Australia, Spain, and the UK.
Investor caution, bid-ask spreads hold back China secondaries
Secondaries investors see a lot of potential GP-led deal flow coming out of China, but completion rates are being held back by caution among buyers and a reluctance among sellers to compromise on valuations.
Australia’s Real Pet Food taps investors for equity injection
Hosen Capital, New Hope Group, and Temasek Holdings have led a AUD 248m (USD 161.2m) equity injection into Australia-based chilled pet food supplier Real Pet Food to pay down debt and support growth.
China energy storage player Fox ESS raises $141m
Fox ESS, a China-based energy storage company also known as Maitian Energy, has raised CNY 1bn (USD 141m) in a pre-IPO round led by Ori-mind Capital at a post-money valuation of more than CNY 10bn.
