Investments
Fund focus: 9 Basil targets Thai distress
9 Basil's predictions of distress in Southeast Asia have been realized faster than anticipated due to COVID-19. The Thai manager is now gauging the likely impact of social unrest
Southeast Asia start-ups: Trials of leadership
COVID-19 has forced start-ups founders in Southeast Asia – many of whom have never experienced a crisis before – to make tough decisions. For investors, it represents a key test of management credentials
Proterra supports plant-based egg start-up's Asia rollout
A consortium led by Proterra Investment Partners has committed $100 million to the establishment of an Asian unit of Eat Just, the company behind the US vegan egg substitute brand Just Egg.
China's Yuanfudao hits record valuation with $2.2b round
Yuanfudao, a Chinese education start-up that targets the K-12 segment, has raised $2.2 billion in Series G funding at a valuation of $15.5 billion, nearly double the valuation of its previous round, which closed in April.
Deal focus: Lyre's opts for science instead of a still
Australia-founded beverages maker Lyre’s has raised $11.5 million in seed funding with a view to helping non-alcoholic spirits follow in the footsteps of alternative protein
China O2O medicine platform raises $150m
Chinese online-to-offline (O2O) medicine retailer Dingdang Kuaiyao has raised RMB1 billion ($150 million) in an extended Series B round featuring Dragon Gate Investment Partners.
Sequoia joins $22.5m round for Bangladesh's ShopUp
Sequoia Capital India and US-based Flourish Ventures have led a $22.5 million Series A round for Bangladesh B2B platform ShopUp. It is both firms’ first investment in the country.
CPE leads $224m round for China cancer diagnostics business
3D Diagnostic, a diagnostics spinout from Chinese tumor immunotherapy specialist 3D Medicines, has raised RMB1.5 billion ($224 million) in funding led by CPE, formerly known as CITIC Private Equity.
OTPP leads $360m round for Asia data center business
Ontario Teachers’ Pension Plan (OTPP) has led a $360 million equity investment in Singapore-based data center developer Princeton Digital Group (PDG).
Australia's V2Food raises $55m Series B
Australian alternative protein producer V2Food has raised a A$77 million ($55 million) Series B round featuring Sequoia Capital China and Temasek Holdings.
Ping An gives third-party investors exposure to PE portfolio
The international investment and asset management arm of China’s Ping An Insurance has raised $875 million through a secondary sale of part of its private equity portfolio.
Cenova leads $37m round for China's Nanyan Insurtech
Chinese insurance platform Nanyan Insurtech has raised a RMB250 million ($37 million) Series C round led by Cenova Ventures. SIG China and BlueRun Ventures both re-upped.
Singapore auto marketplace Carro raises $110m
Singapore used car marketplace Carro has raised S$150 million ($110 million) in debt and equity, including an unspecified equity contribution from Japan’s MS&AD Insurance and Mitsubishi Corp.
China EV maker Enovate raises $742m
Enovate, a Chinese new energy vehicle manufacturer, has raised RMB5 billion ($742 million) in a funding round led by local government industry guidance funds and state-owned banks.
Vision Knight leads Series B for China education app
Shaonian Dedao, a Chinese education app for teenagers led by former CCTV host Quanlin Zhang, has raised RMB200 million ($29 million) in a Series B funding round led by Vision Knight Capital.
Swedish GP buys Singapore biotech supplier, SBI exits
Swedish private equity firm Summa Equity has acquired a controlling stake in Singapore-based biotech developer Sengenics for an undisclosed sum, setting up an exit for Japan’s SBI Holdings.
3H Health leads $67m Series B for China's EdiGene
China’s 3H Health Investment has led a RMB450 million ($67 million) Series B round for local genetics-based drug discovery and therapeutics developer EdiGene.
China cybersecurity provider BambooCloud raises $44m
Shenzhen-based cybersecurity company BambooCloud has raised a RMB300 million ($44 million) Series C round featuring Sequoia Capital China.
Japan space debris start-up raises $191m Series E
Astroscale, a Japanese space tech start-up dedicated to cleaning up orbital debris, has closed its Series E round at $191 million with support from local investors aStart and Sparx Group.
Deal focus: VR gaming comes of age
Japanese videogame publishing company Thirdverse believes the time is right to bring virtual reality entertainment to the masses. VCs with expertise in the sector are beginning to agree
Delta, Daiwa back Myanmar plastic recycler
Delta Capital Myanmar, formerly PMM Partners, and Daiwa Securities Group have invested $12.6 million in Myanmar recycling business Commercial Plastics Holding (CPC).
3Q analysis: Guarded reengagement
Fundraising focus shifts to China venture, but it’s the same polarization story; upturn in trade and secondary sales suggests the COVID-19 freeze is thawing; healthcare retains its investment appeal
BGH, OTPP sweeten deal for New Zealand's Abano
BGH Capital and Ontario Teachers’ Pension Plan (OTPP) have improved their take-private offer for New Zealand dentistry chain Abano, reflecting a relatively strong business recovery.
Walmart, Flipkart re-up in India's Ninjacart
US retailer Walmart and Flipkart, its India-based e-commerce platform, have made an additional investment in local fresh produce delivery business Ninjacart.