Investments
Tencent backs China enterprise training start-up
Yunxuetang, a Chinese online corporate training services provider, has raised more than $100 million in the first tranche of Series E round led by Tencent Holdings.
Longreach sells Japanese jeweler to Integral
The Longreach Group has exited Primo Japan to Integral Corporation for an undisclosed sum. This makes Integral the jewelry retailer’s fourth consecutive private equity owner.
New Zealand's Oriens Capital acquires biosecurity specialist
New Zealand private equity firm Oriens Capital has agreed to acquire a 70% position in IVS Group, a local biosecurity services specialist, for an undisclosed sum.
China chip designer Memsic raises $155m
Memsic, a Chinese semiconductor design company that was privatized with support from IDG Capital in 2013, has raised more than RMB1 billion ($155 million) led by an industry fund under Hangzhou Fortuna Investment Management.
Deal focus: Olympus credit team spins out, gets OMERS backing
Olympus Capital Credit has rebranded as Orion Capital Asia, with OMERS replacing Olympus as the firm’s equity partner. The strategy is unchanged, with COVID-19 helping to drive deal flow
General Atlantic backs Indonesia biotech developer
General Atlantic has invested $55 million in Kalbe Genexine Biologics, an Indonesia-based drug developer focusing on Southeast Asia.
Aspex leads $200m Series E for Hong Kong's Klook
Aspex Management has led a $200 million Series E round for Klook as the Hong Kong travel app pivots to domestic holiday services during a freeze in international tourism.
Carlyle-backed consortium sweetens offer for Japan Asia Group
The Carlyle Group and the chairman of Japan Asia Group (JAG) have doubled the size of their tender offer for the Tokyo-listed company following pressure from an activist investor. The chairman is contributing most of the additional equity.
China online education: Class war
K-12 online education in China is a battle for market share that only the largest players can afford to play. Investors can either get comfortable with high-cash-burn or look for niche exposure
AVCJ Awards 2020: Operational Value Add: Nexus Day Hospitals
Having formed Australia-based Nexus Day Hospitals by merging two smaller operators, Mercury Capital led a wholesale expansion and professionalization of the business
Chinese medical robot maker raises $93m
Edge Medical, a China-based manufacturer of surgical robots, has raised a RMB600m ($93m) series B round led by Lyfe Capital and Hong Kong-listed Kangji Medical.
CITIC acquires China perfume brand
CITIC Capital has made an investment of undisclosed size in Shanghai Xiangmiao Trade, owner of Reclassified, a leading Chinese perfume and home fragrance brand.
AVCJ Awards 2020: Deal of the Year - Mid Cap: Perfect Diary
Perfect Diary’s $100 million Series D round came after the Chinese company proved itself with multiple hit color cosmetics brands and eight months ahead of a bumper US listing
Morgan Stanley backs India logistics provider
Morgan Stanley Infrastructure Fund has invested INR1.8 billion ($25 million) in Leap India, a supply chain services provider focused on cost reduction through pallet pooling.
China math tuition platform adds $150m to Series E
Huohua Siwei, a China-based children's online education platform specializing in mathematics and science, has raised $150 million in the third tranche of the Series E round, taking the overall total to $400 million.
China AI specialist 4Paradigm receives $700m Series D
Boyu Capital, Primavera Capital Group, and Hopu Investments have led a $700 million Series D round for 4Paradigm, a Chinese artificial intelligence (AI) technology developer that serves enterprise customers.
China e-sports business VSPN lifts Series B to $160m
VSPN, a Chinese e-sports broadcaster and events promoter backed by Temasek Holdings, has extended its Series B round to $160 million with a mix of VC and strategic investors.
4Q analysis: Growth spurt
Technology-enabled businesses in China and India are the beneficiaries of a resurgence in growth capital deal flow; Japan is the sole stand-out in fundraising; IPOs continue to shine as overall exits struggle
Chinese financial education start-up raises $100m
Erwan Technology, a China-based wealth management education platform, has secured nearly $100 million in funding across Series D and E rounds.
Singapore's iStox raises $50m Series A
A group of Japanese VC investors has backed a $50 million Series A round for Singapore’s iStox, a digital securities platform that deals in private markets.
Dimension leads $48m round for Japan's Nyle
Japanese VC firm Dimension has led a JPY5 billion ($48.3 million) round for local digital marketing and mobile media business Nyle.
Riverside to buy Australian insurance broker
The Riverside Group has agreed to acquire a controlling stake in Australian disability insurance broker Altius from Sydney-listed AUB Group for A$57 million ($44.3 million) in cash.
China's BangEr Orthopedic raises $46m
Chinese hospital chain operator BangEr Orthopedic has raised a RMB300 million ($46 million) Series D round led by Fortune Capital and Cenova Capital.
AVCJ Awards 2020: Deal of the Year - Small Cap: TaniGroup
Openspace Ventures played a key role in helping Indonesian agriculture technology start-up TaniGroup achieve critical mass as COVID-19 weeded out much of the competition