Expansion
SoftBank invests in India's Paytm
SoftBank Group has invested in One97 Communications, the parent company of Indian online payments and e-commerce platform Paytm.
Cross-border e-commerce site Wish raises new round
Wish, a San Francisco-based cross-border e-commerce app backed by several Asian investors, has completed a Series F round led by Everbright-IDG Industrial Fund.
IFC proposes $75m investment in India’s Max Healthcare
The International Finance Corporation (IFC), the investment arm of the World Bank, is considering an investment of up to $75 million in Indian hospital chain Max Healthcare.
Vietnam SOEs: Shifting ground
Vietnam’s state-owned enterprise (SOE) privatization initiative continues to produce investment opportunities, but private equity firms must be prepared for a hard sell when negotiating
Vietnam renewables: Good vibrations
A palpable new enthusiasm has permeated Vietnam’s sluggish renewable energy sector as rising electricity demand prompts regulatory reform. Private equity is one of the key players
Vietnam investment: Familiar faces
Regional private equity firms are refocusing on Vietnam, widening the exit options for local GPs that specialize in bringing companies to scale. But sizeable deals are scarce and valuations are rising
CPPIB commits $500m to India logistics joint venture
Canada Pension Plan Investment Board (CPPIB) has committed $500 million to IndoSpace Core, a joint venture focused on acquiring and developing logistics facilities in India.
Mekong backs Vietnam express delivery business
Mekong Capital has invested in Nhat Tin Investment Trading Development, a Vietnam-based express delivery company founded by a team that previously exited a similar business to Kerry Logistics.
Hillhouse leads $55m round for China AI developer Yitu
Hillhouse Capital has led a RMB380 million ($55 million) Series C round of funding for Yitu Technology, a Shanghai-based artificial intelligence (AI) technology developer.
CDB Capital leads $42m round for China fintech firm Wacai
CDB Capital, the fund management arm of China Development Bank, has led a $42 million round for Wacai, a Chinese finance management mobile app developer.
SoftBank confirms $5b investment in Didi's $5.5b round
SoftBank Group contributed $5 billion of the $5.5 billion funding round announced at the end of last month by China-based ride-hailing app operator Didi Chuxing – almost certainly the largest single investment in a Chinese internet company.
IFC proposes $100m investment in India's MMFSL
The International Finance Corporation (IFC), the investment arm of the World Bank, is considering a $100 million investment in India-listed non-banking financial company (NBFC) Mahindra & Mahindra Financial Services (MMFSL).
Deal focus: Huochebang brings order to trucking chaos
Huochebang has raised $270 million in the last five months with a view to using its sharing economy solution to make China's trucking industry more efficient and less fragmented
China flexible display developer Royole raises $58m
Royole Corporation, a China-based flexible display technology developer, has received RMB400 million ($58 million) in Series D funding from a domestic GP Beijing Zhongtai Chuanghui Equity Investment Fund.
Deal focus: WuXi NextCode eyes mass-market genomics
By acquiring NextCode Health in 2015, WuXi Pharmatech combined its gene sequencing capabilities with one of the world's largest genome datasets. PE investors are backing the business to sell genomic testing services to Chinese patients
CMB PE unit leads round for Shanghai pop group developer
Shanghai Star48 Culture & Media, a media agency that developed Chinese female pop group SNH48, has raised a Series C round of funding led by CMB International Capital, a private equity unit of China Merchants Bank.
Tencent backs US music app Smule in Asia push
Chinese internet giant Tencent Holdings has led a $54 million funding round for Smule, a US-based social media music company, to support its expansion in Asia.
BOCI leads Series C for Chinese online gold trading platform
An investment unit of Bank of China International (BOCI) has led a RMB200 million ($29 million) Series C round for G-banker, a Chinese online gold trading platform that has several venture capital backers.
CDIB Capital backs World Gym Taiwan
CDIB Capital, the PE arm of Taiwan's China Development Financial, has acquired a minority stake in World Gym Taiwan, the largest fitness center chain in Taiwan, alongside several co-investors. Financial terms were not disclosed.
IFC proposes $40m investment in India's Aavas Financiers
The International Finance Corporation (IFC) is considering an investment of up to $40 million in debt in Aavas Financiers, a housing finance business that Partners Group and Kedaara Capital bought last year from non-banking financial company (NBFC) Au...
Singapore’s Garena rebrands as Sea, raises $550 million
Singapore-headquartered mobile internet and gaming platform Garena has rebranded as Sea and raised $550 million from a group of investors including existing backer Global Digital Prima (GDP) Venture of Indonesia.
Tencent leads $34m round for VC-backed cloud player
Tencent Holding has led a RMB235 million ($34 million) funding round for Transwarp Technology, a Chinese big data technology developer backed by a string of venture capital investors.
India's Ola raises $104m
Indian ride-hailing operator Ola has raised INR6.7 billion ($104 million) from Falcon Edge Capital and RNT Capital Advisors, a VC fund backed by Ratan Tata, chairman emeritus of the company that controls Tata Group.
TPG to invest $50m in India's Dodla Dairy, Proterra to exit
TPG Capital’s growth investment arm has agreed to pay $50 million for a significant minority stake in Indian dairy firm Dodla Dairy. AVCJ understands the deal will provide a full exit for Proterra Investment Partners.