Investments
Korea's MegazoneCloud raises $122m Series B
Korean enterprise cloud services provider MegazoneCloud has closed a $122 million Series B round featuring more than 20 investors, including at least eight private equity firms.
Asia travel & hospitality: Ready to board?
The outlook for international tourism remains uncertain, but this hasn’t stopped some private equity and venture capital investors targeting travel and hospitality assets in Asia. It pays to be selective
China retail SaaS provider Huice secures $100m Series C
Huice, a China-based provider of software for retailers, has raised nearly $100 million in Series C funding led by Singapore’s GIC. GL Ventures, Legend Capital and SoftBank Ventures Asia also participated in the round.
China's Snowball Finance raises $120m
Snowball Finance, a Chinese online financial information platform with wealth management ambitions, has raised $120 million Series E from Orchid Asia.
LPs anticipate PE portfolio restructuring - survey
A wave of portfolio restructuring is likely as LPs turn to the secondary market to reshape their private equity exposure, source new credit facilities or dispose of assets to remedy liquidity shortfalls, and review co-investment policies, Coller Capital’s...
Everstone buys Indian pharma ingredients player
Everstone Group has acquired a controlling stake in Calibre, an Indian ingredients supplier for the pharmaceutical and nutrition industries, for an undisclosed sum.
Anacacia makes another Australia e-commerce play
Australia’s Anacacia Capital has made its second foray into e-commerce in a fortnight with the acquisition of a majority interest in Mwave, an online video gaming and PC hardware retailer.
Deal focus: Speed pays off for Ince with Eeo
Ince Capital's $35 million investment in Eeo Education's Series B round is the largest from its debut fund. The GP has since re-upped in a $265 million Series C at twice the valuation
TPG, Northstar commit $236m to Japfa's SE Asia dairy business
TPG Capital and Northstar have agreed to pay $236 million for an 80% stake in the Southeast Asia consumer dairy operation of Singapore-listed agribusiness giant Japfa.
Deal focus: Huaxing gives overseas LPs taste of China medtech
In addition to raising $213 million for its latest renminbi-denominated fund, Huaxing Healthcare Capital sourced $230 million from co-investors for a succession deal in China’s orthopedics space
India's PhonePe spins out from Flipkart, raises $700m
PhonePe, the digital payments platform of Indian e-commerce marketplace Flipkart, has been spun out as a stand-alone entity and raised $700 million in funding at a post-money valuation of $5.5 billion.
Chinese EV maker Hozon raises $305m
Zhengjiang-based Electronic Vehicle (EV) start-up Hozon Auto has raised RMB2 billion ($305 million) from Huading Capital, a specialist EV investor.
MBK credit fund to join PE fund on CAR investor roster
MBK Partners has agreed to subscribe to $175 million in convertible bonds issued by China Auto Rental (CAR). It follows a large commitment and a take-private offer by MBK last month.
China's Chang Guang Satellite raises $376m
Chang Guang Satellite Technology, a China-based commercial satellite developer, has raised RMB2.46 billion ($376 million) in pre-IPO funding. It is the largest-ever funding round in China’s commercial aerospace industry.
CLSA sells Japan outsourcing business to Advantage
CLSA Capital Partners has sold Japan-based industrial sector human resources outsourcing business Qit to Advantage Partners for an undisclosed sum.
Deal focus: Cashfree targets merchants in India's payments boom
Apis Partners' support of India-based Cashfree is driven by a recognition that the democratization of digital payments is as much about empowering traditional merchants as unbanked consumers
China's Suning raises $912m for e-commerce services arm
Yunwang Wandian, the e-commerce services arm of Suning.com, one of China’s largest retailers, has raised a RMB6 billion ($912 million) Series A round led by Shenzhen Capital Group.
KV Asia exits Malaysian grocery retailer to ICG
Southeast Asia-focused private equity firm KV Asia Capital has exited TF Value Mart (TFVM), a Malaysia-based grocery retailer in which it has held a controlling stake since 2016, to Intermediate Capital Group (ICG).
3W leads $43m Series E for China's CANbridge
Hong Kong’s 3W Fund Management has led a $43 million Series E round for CANbridge Pharmaceuticals, a Beijing-based drug developer that focuses cancer and rare diseases.
The big C: China biotech start-ups get cutting edge on cancer
The evolution of cancer treatments in China is a bellwether for biotech development in the country and its capacity for genuine innovation. Most PE and VC investors aren’t shying away
NZ Super, OTPP buy New Zealand pathology business
New Zealand Superannuation Fund (NZ Super) and Ontario Teachers’ Pension Plan (OTPP) have completed a NZ$550 million ($387 million) carve-out of Healthscope’s New Zealand pathology services business.
Alibaba, Jeneration lead $196m round for China's Nice Tuan
Shihuituan, a China-based community group buying platform also known as Nice Tuan, has raised $196 million in the third tranche of a Series C round led by Alibaba Group and Jeneration Capital.
Roc buys Australia grain marketing business
Australia’s Roc Partners has agreed to acquire a 100% stake in local grain storage and handling company Emerald Grain from Japan’s Sumitomo Corp for an undisclosed sum.
Asia buyout returns: Spoilt for choice?
Fund managers believe the ability to finance and refinance deals on attractive terms, as well as a wider array of paths to liquidity, will underpin performance in Asia