Investments
Naver leads $80m round for Singapore's Carousell
Korean internet conglomerate Naver has led an $80 million round for Singapore’s Carousell, a mobile classifieds marketplace, at a valuation of $900 million.
CLSA acquires Japan fitness club operator
CLSA Capital Partners (CLSA CP) has acquired Japanese 24-hour fitness club operator Worldplus for an undisclosed sum.
Deal focus: Affinity, Baring leverage market dislocation
Seeing Korean banks trading at discounted valuations and believing in the long-term health of the industry, some private equity investors have taken the opportunity to buy in the public markets
Coronavirus & infrastructure: Trial by fire
Conservative investors who trust infrastructure for its stability have received a rude awakening with COVID-19. With appetite for the asset class unchanged, it’s time to get smart about risk
GPs join $516m investment in Evergrande's EV unit
Evergrande New Energy Vehicle (NEV), a subsidiary of Chinese real estate developer Evergrande Group, has raised HK$4 billion ($516 million) from investors including Tencent Holdings, Sequoia Capital China, Yunfeng Capital, and Didi Chuxing.
Investcorp increases focus on China healthcare
Investcorp has acquired minority stakes in two Chinese healthcare companies – hospital operator Lu Daopei Medical Group and telemedicine platform WeDoctor – paying undisclosed sums.
India fantasy sports platform raises $225m
TPG – acting through its tech adjacencies strategy – Tiger Global Management, ChrysCapital Partners, and Footpath Ventures have led a $225 million round for Dream Sports, operator of India’s largest fantasy sports platform.
PEP to buy Australian software player for $367m
Australia’s Pacific Equity Partners (PEP) has agreed to acquire 100% of Sydney-listed enterprise software and IT services provider Citadel for A$503 million ($367.5 million).
GL Ventures leads $58m Series B in China's GemPharmatech
GemPharmatech, a Chinese company that provides genetically-modified mice for use in drug tests, has raised RMB400 million ($58.6 million) Series B led by GL Ventures, the VC arm of Hillhouse Capital.
Bain pursues $374m acquisition of Japan pharmacy business
Bain Capital has agreed to acquire Japanese pharmacy chain store operator Kirindo Holdings through a tender offer that values the business at JPY39.7 billion ($374 million).
Sequoia joins $30m Series C for India's Groww
Groww, a financial technology start-up considered the largest retail brokerage in India, has closed a $30 million Series C round with support from Sequoia Capital India.
TPG backs $2b carve-out of Aviva Singapore
TPG Capital has joined a consortium led by Singapore Life (Singlife) that has agreed to acquire the Singapore business of UK insurance giant Aviva for S$2.7 billion ($2 billion).
Baring to buy IT outsourcing player Virtusa for $2b
Baring Private Equity Asia has agreed to buy Virtusa, a global business consulting and IT outsourcing company with major delivery centers in India and Sri Lanka, for approximately $2 billion.
China fresh produce retail: Changing channels
From online grocers to group buying platforms, capital is pouring into China’s fresh produce space as e-commerce finally makes it mark. Which business model will prevail?
DCP invests $283m in Chinese diabetes treatment player
DCP Capital Partners has acquired a 9% stake in Tonghua Dongbao Pharmaceutical, a Chinese pharmaceutical company specializing in diabetes treatment, for RMB1.94 billion ($283.7 million).
Q&A: Starquest Capital's Frankie Fang
Frankie Fang, founding managing partner of China-focused fund-of-funds Starquest Capital, discusses early-stage valuations, specialization among domestic managers, and renminbi fundraising
Tiger, Temasek commit $160m to India's Zomato
Tiger Global Management and Temasek Holdings have contributed $160 million to an ongoing Series J round for India-based food delivery company Zomato.
China autonomous driving: Dimension jump
There are no arguments about the transformational potential of autonomous driving in China, but investors have different ideas about where to find value
China's LandSpace raises $175m Series C
Chinese commercial rocket developer LandSpace has raised RMB1.2 billion ($175 million) in a Series C extension co-led by Sequoia Capital China, the VC arm of property developer Country Garden, Matrix Partners China and Co-Stone Capital.
EV Growth, Jungle lead round for Indonesia's Waresix
Indonesian logistics technology provider Waresix has secured about $75 million in Series B funding led by existing backers EV Growth and Jungle Ventures.
Cool Japan leads $40m Series C for Taiwan's Vpon
Cool Japan Fund has led a $40 million Series C round for Vpon, a Taiwan-based big data and advertising services provider.
Korean AI drug developer secures $14m Series B
Oncocross, a South Korean drug developer that uses artificial intelligence (AI) to identify new applications for treatments already in clinical trials, has raised KRW16.5 billion ($14 million) in Series B funding led by Smilegate Investment and GNTech...
Silver Lake invests $1b in India's Reliance Retail
Silver Lake has made its second big bet on India in a week – and its third in four months – with a $1 billion commitment to the retail unit of Reliance Industries.
China apps going global: Empires on hold
China’s data-driven consumer apps are having a harder time keeping politics out of business as they become increasingly competitive in global markets. Lessons are plentiful; solutions are not