Expansion
Local GPs commit $71m to China biotech player
EOC Pharma, a Chinese biotech developer focused on cancer treatments, has closed a RMB500 million ($71 million) Series C round raised from a group of local private equity investors.
China's Sailing exits as US GP backs Maldives resort chain
Chinese cross-border private equity firm Sailing Capital has exited its position in Soneva, a Thailand-based luxury hotel operator known for its Maldives resorts, following the sale of a significant minority stake to US-based KSL Capital Partners.
Singapore's FinAccel raises $90m Series C
Singapore-based financial technology provider FinAccel has raised a $90 million Series C round led by Australia’s Square Peg Capital and Korean investors Mirae Asset Capital and Naver.
TPG joins round for India’s Ess Kay Fincorp
TPG Capital, Norwest Venture Partners, and Evolvence India have jointly led a $33 million investment in Indian non-banking finance company Ess Kay Fincorp.
India start-ups: Land of the giants
Indian investors are savoring a rapid proliferation in billion-dollar technology start-ups, but as the unicorn heap gets bigger, an almost unrecognizable economy will pose new challenges
India's Paytm raises $1b
Indian mobile payment and e-commerce platform Paytm has raised a $1 billion Series G round led by T Rowe Price.
Cento leads $52m round for SE Asia payments player
Cento Ventures has led a $52 million round for 2C2P, a Singapore and Bangkok-based payments platform that claims to serve some 620 million customers across Southeast Asia.
Taiwan's Appier gets $80m Series D
Appier, a Taiwan-headquartered start-up that develops artificial intelligence-enabled platforms intended to help corporates optimize advertising campaigns, has raised $80 million in Series D funding.
Singapore's Carousell merges with Asia assets of Telenor
Singapore-based online consumer-to-consumer marketplace Carousell has merged with the Southeast Asia subsidiary of Norwegian telecommunications giant Telenor Group.
Vietnam's Sendo raises $61m Series C
Vietnamese e-commerce company Sendo has received $61 million in Series C funding from a group of investors including SBI Group and SoftBank Ventures Asia.
Japan's SmartNews secures $92m Series E
Japan-based news app SmartNews has closed its Series E round at $92 million with contributions from Japan Post Capital and Globis Capital Partners.
MBK, Mirae buy stake in Asia assets of Korea's CJ CGV
MBK Partners and Mirae Asset Daewoo Private Equity have agreed to pay KRW333.6 billion ($286 million) for a minority position in the China and Southeast Asia assets of Korean cinema chain operator CJ CGV.
GPs see more cross-border M&A within Asia – AVCJ Forum
The Asian M&A market, typically characterized by cross-border deals with Western entities, is seeing more intra-regional activity, industry participants told the AVCJ Forum.
India’s Sanaka Capital invests $44m in Edelweiss
Sanaka Capital, an Indian private equity firm established by Shankar Narayanan, formerly co-head of The Carlyle Group's Asia growth team, has agreed to invest $44 million in local financial conglomerate Edelweiss.
China electric car maker Xpeng closes $400m Series C
Xpeng Motors, a Chinese electric vehicle manufacturer established by Xiaopeng He, previously founder of web browser UCWeb and a senior executive at Alibaba Group, has raised $400 million in Series C funding.
PAG, Centurium win firm of the year prizes at AVCJ Awards
PAG Asia Capital and Centurium Capital secured the two firm of the year prizes at the 2019 AVCJ Private Equity & Venture Capital Awards, while Renuka Ramnath of India’s Multiples Alternative Asset Management won the AVCJ Special Achievement Award.
Chinese medical device start-up receives $100m
Chinese medical instrument provider Peijia Medical has raised a RMB700 million ($100 million) Series C round from a group including Matrix Partners China and Lilly Asia Ventures.
Alibaba invests $3.3b in logistics affiliate Cainiao
Alibaba Group has enlarged a controlling stake in its PE-backed shipping affiliate Cainiao Smart Logistics Network with a $3.3 billion investment.
TPG leads $32m round for India bank
TPG Capital has led a INR2.2 billion ($32 million) funding round for India's Jana Small Finance Bank, which focuses on financial inclusion through digital services.
Vietnam media platform Pops gets $30m
Korean investors Mirae Asset Capital, EastBridge Partners, and Naver have provided $30 million in growth capital to Vietnamese online entertainment broadcaster Pops.
SoftBank founder admits to lapses on WeWork
SoftBank founder Masayoshi Son admitted to a lapse in judgment on WeWork while disclosing that SoftBank Vision Fund and SoftBank Group have written down their positions in the beleaguered co-working space provider by a combined $7.7 billion.
PE & QSR: Going greenfield in India
Localization was the key for Everstone Group when rolling out Burger King in an India market that is both price-sensitive and not known for its appreciation of beef
Chinese fresh produce retailer raises $14m
Maison Capital has invested RMB100 million ($14 million) in Sungiven Foods, a Chinese fresh produce retailer looking to replicate the model of US-based Trader Joe's.
Japan's Paidy secures $143m in funding
Paidy, one of Japan’s largest financial technology start-ups, has confirmed $143 million in new funding, comprising an extended Series C round and debt financing.