Investments
Profile: CITIC Capital's Hanxi Zhao
CITIC Capital’s Hanxi Zhao cut her teeth with brands in China at Procter & Gamble more than 20 years ago. The market has since moved on, but the underlying message has not
WI Harper backs Hong Kong financial services player
WI Harper Group has led a $20 million Series B round for Hong Kong financial services provider EMQ.
CDH leads round for China community group buying player
Shihuituan, a China-based community group buying platform also known as Nice Tuan, has raised $80 million in the second tranche of a Series C round led by CDH Investments.
Eurazeo backs UK, Singapore-based Thought Machine
Eurazeo Growth, a joint venture between French GPs Eurazeo and Idinvest Partners, has joined a $125 million Series B round for UK and Singapore financial technology player Thought Machine.
Deal focus: Vedantu adds to war chest as rivals encroach
India's Vedantu has raised $100 million in funding to support its ongoing diversification into non-test preparation services. Other players in the online education space have similar plans
Asia online gaming: Game on
Videogaming has outgrown entertainment and media to become a sector unto itself, with new angles for exposure multiplying rapidly. E-sports is an area to watch
Permira buys China, Indonesia English tuition business
Permira has acquired a majority stake in EF Kids & Teens, an English language education provider that operates 288 schools in China and 79 in Indonesia.
Eurazeo commits $94m in debut Europe-China fund deal
French GP Eurazeo has made its debut investment from a newly launched Europe-China cross-border fund, committing EUR80 million ($94 million) to Dutch medical supplier DORC.
Korean travel app secures $36m funding round
MyRealTrip, a South Korean travel super app that positions itself as a one-stop-shop for bookings, has raised KRW43.2 billion ($36 million) in funding from the likes of Altos Ventures, IMM Investment, and Axiom Asia.
Chinese IT infrastructure player SmartX raises $28m
SmartX, a Chinese enterprise cloud services provider, has closed an extended tranche of its Series B round as well as a Series C round, raising RMB200 million ($28 million) in total.
Australia's Square Peg backs Singapore wealth manager
Australian VC firm Square Peg Capital has led a $16 million Series C round for StashAway, a Singapore-based digital financial services provider focused on retail wealth management.
Deal focus: DRX wants e-sports to surf the Korean wave
Investors are backing DRX to generate international buzz for e-sports in Korea, following in the footsteps of K-pop, K-food and K-beauty. Overseas interest is already mounting
SPACs: Flavor of the month
Special purpose acquisition companies (SPACs) are gaining popularity among private equity investors in Asia. While these structures have various attractive qualities, they aren't for everyone
Korean AI education start-up gets $41m pre-Series D
Korea Development Bank (KDB) and local private equity firms Nvestor, Intervest and IMM Investment have participated in a $41.8 million pre-Series D round for Riiid, a Korean online education platform.
Steadview backs India SaaS player Freshworks
Steadview Capital has invested $85 million in India and US-based cloud business software developer Freshworks through the purchase of shares from existing investors.
Warburg Pincus leads Series B for China's Haihe Pharmaceutical
Warburg Pincus has led a RMB1.2 billion ($171 million) Series B round for Haihe Pharmaceutical, a Chinese cancer drug developer that currently has four treatments in stage-three clinical trials or beyond.
CPE, GDS team up on China data center project
CPE - formerly CITIC Private Equity - and GDS Holdings have jointly acquired a greenfield data center project in China that will represent a RMB2.6 billion ($371 million) investment upon completion.
Korean strategic, financial investors back industrial AI start-up
MakinaRocks, a Korean artificial intelligence (AI) start-up that helps manufacturers achieve production efficiencies through the application of deep learning technology, has raised KRW12 billion ($10 million) in Series A funding.
Deal focus: AIpark keeps an eye on the streets
AIpark founder Jun Yan claims there are five million street parking spaces in China's 100 largest cities that could use his car parking management system. A Gaorong Capital-led Series C round will help him reach them
India payments player Pine Labs invests Malaysia's Fave
Pine Labs, an Indian payments start-up backed by MasterCard, PayPal, and Sequoia Capital India, has invested Fave, a Malaysian e-commerce platform also supported by Sequoia.
Eurazeo, Primavera-owned WorldStrides files for bankruptcy
WorldStrides, a US-based provider of study-abroad programs for high school and university students owned by Eurazeo and Chinese private equity firm Primavera, has filed for bankruptcy protection.
Singapore GPs lead round for Israeli drone scouting start-up
Taranis, an Israel drone-based crop monitoring solution provider for farms, has raised $30 million in a Series C round eyeing expansion opportunities in Asian markets.
OMERS acquires 20% stake in Australia's TransGrid
Canada’s Ontario Municipal Employees Retirement System (OMERS) has bought a 20% stake in Australian electricity network operator TransGrid for an undisclosed sum.
Q&A: Novo Holdings' Amit Kakar
Having spent the past three years on healthcare buy-and-build platform Everlife Asia, Amit Kakar’s is joining life sciences investor Novo Holdings as regional head. He explains why now is the time to bet big on Asia