Expansion
Coatue leads $70m round for China, US-based Agora
Agora.io, a real-time voice and video communication platform established by Tony Zhao, formerly CTO of Chinese social networking player YY.com, has received $70 million in Series C funding led by Coatue Management.
Vision Fund invests $2b in Korea’s Coupang
SoftBank Vision Fund has committed $2 billion to South Korean e-commerce business Coupang, reportedly valuing the company at $9 billion.
Chinese financial education business receives $115m Series C
Golden Education, which claims to be China’s largest professional financial education provider, has received RMB800 million ($115 million) in Series C funding led by Hillhouse Capital and Morgan Stanley.
Australia's Future Fund leads $140m round for Rocket Lab
Australia’s Future Fund has led a $140 million Series E round for Rocket Lab, a US-based space technology company that operates primarily in New Zealand.
China’s Ucommune gets $200m in Series D round
Chinese co-working space operator Ucommune, formerly named UrWork, has raised $200 million in Series D funding led by All-Stars Investment, with participation from CEC Capital.
Hillhouse co-leads $93m Series B for US biotech firm
Hillhouse Capital and Quan Capital have led a $93 million Series B round for NextCure, a US-based biopharmaceutical company focused on cancer and other diseases.
EDBI joins $50m round for US-based WalkMe
Singapore’s EDBI has joined a $50 million Series F round for US-based enterprise software provider WalkMe that will drive an Asia Pacific expansion.
Permira invests in Taiwan aquatic feed business
Permira has acquired a 50% stake in Ye Cheng Industrial Products, a Taiwan-headquartered aquatic feed producer that operates under the Grobest brand.
China B2B plastics trading platform gets Series C funding
Kuaisuwang, a Chinese B2B trading platform for plastic products, has raised several millions of US dollars in a Series C round of funding from IRPC, a listed Thai petroleum and petrochemicals company.
EQT buys stake in Chinese wallpaper brand
EQT has acquired a 40% stake in Shanghai Artwall Environmental Technology, a Chinese wallpaper manufacturer, from the company’s founders for an undisclosed sum. Red Star Macalline, a domestic home furnishings retailer, also participated as a minority...
TEPCO invests in PE-backed Vietnam hydro project
Tokyo Electric Power (TEPCO) has invested in a Vietnam hydropower project in which Nexif Energy, a Southeast Asia-focused energy investment platform backed by Denham Capital, owns a majority stake.
L Catterton, Mitsui invest in Japanese eyewear retailer
L Catterton Asia has made its first investment in Japan, partnering Mitsui & Co. Principal Investments (MCPI) to support local eyewear retailer Owndays.
China PE outlook: End of the party
Growth stage technology deals have retained a strong following in 2018, but elsewhere in Chinese private equity the mood is more somber
Japan’s TEPCO invests in PE-backed Electrify
Electrify, a Singapore-based energy marketplace based on blockchain technology and backed by Japan’s Global Brain, has raised an investment of undisclosed size from TEPCO Frontier Partners, an incubator sponsored by Tokyo Electric Power (TEPCO).
Q&A: Warburg Pincus' Chip Kaye
Chip Kaye, co-CEO of Warburg Pincus, discusses market fluctuations, global dislocation, expanding into Southeast Asia, raising a companion fund for China, and innovation in the secondaries space
Asia private equity: Tipping point?
Asian PE appears to be entering a transitional period as an assortment of macro issues loom over the global economy. GPs anticipate an adjustment in valuations, but woe betide he who tries to call the cycle
Hyundai invests $250m in Southeast Asia's Grab
South Korean car maker Hyundai Motor Group has joined the latest funding round for Southeast Asia ride-hailing app Grab, committing $250 million to deepen the two companies’ existing relationship.
TPG Growth leads $144m round for China microlender
TPG Growth, the middle market investment platform of TPG Capital, has led a Series C round of about RMB1 billion ($144 million) for CFPA Microfinance Management, a microfinance institution (MFI) targeting rural China.
CLSA invests in Singapore e-commerce site
CLSA Capital Partners (CLSA CP) has invested an undisclosed sum in FortyTwo, a Singaporean e-commerce player focused on home furnishings.
India's Meesho raises $50m Series C
Meesho, an Indian e-commerce platform focused on small businesses and emerging brands, has raised a $50 million Series C round led by Shunwei Capital, RPS Ventures, and DST Partners.
Tiger Global leads round for China online music tuition business
VIP Peilian, a Chinese online music education platform, has raised $150 million in a Series C round of funding led by Tiger Global Management.
Indian NBFC Veritas raises $27m Series D
Norwest Venture Partners has led a INR2 billion ($27.4 million) Series D round for Veritas Finance, an Indian non-banking finance company (NBFC) focused on micro, small, and medium-sized enterprises (MSMEs).
TPG Growth leads $42m round for Indian NBFC
Ess Kay Fincorp, an Indian non-banking finance company (NBFC) focused on automotive and small business loans, has raised a $42 million round led by TPG Growth, the middle market investment platform of TPG Capital.
Deal focus: MOPE re-enters India’s automotive market
Having tracked India-based Happy Forgings for five years, Motilal Oswal Private Equity is now confident in the company's ability to build its presence in the domestic and export auto components markets