Investments
Multiples leads $145m round for India's Veritas Finance
Veritas Finance, an Indian non-banking finance company (NBFC) that issues loans to micro, small and medium-sized enterprises (MSMEs), has raised INR 12bn (USD 145m) in funding led by Multiples Alternate Asset Management.
US GP backs Australia skin tanning products brand
Gauge Capital, a US private equity firm with experience in the Australian health and beauty space, has invested in local tanning cream brand Loving Tan. Financial terms were not disclosed.
China's Hithium Energy Storage raises $622m
Xiamen Hithium Energy Storage Technology, a China-based battery manufacturer, has raised a Series C round of CNY 4.5bn (USD 622m) led by Beijing Financial Street Capital and China Life Insurance's private equity unit.
Amara backs Cambodian hotpot restaurant chain
Cambodian private equity investor Amara Capital has invested an undisclosed sum in local hotpot restaurant operator KFK Holdings.
China red envelope marketing start-up raises $28m
Saoyasao, a Chinese digital commerce service provider best known for using "red envelopes" to attract customers to offline stores, has raised a CNY 200m (USD 28m) Series A round from two local investors.
Danish fund invests $24m in India's Arohan Financial
Indian microfinancier Arohan Financial Services has received DKK 166m (USD 24.3m) from the government of Denmark’s Investment Fund for Developing Countries (IFU).
Japan VC draws global attention - AVCJ Forum
Japan’s venture capital market is attracting increased international attention by virtue of its relatively stable returns and a start-up-friendly policy regime, investors told the AVCJ Private Equity & Venture Forum Japan 2023.
Paine Schwartz pursues take-private of Australia's Costa
Paine Schwartz Partners has submitted a AUD 1.6bn (USD 1.07bn) buyout offer for listed Australian fresh fruit and vegetables supplier Costa Group – eight years after it took the business public.
Deal focus: Gitee aspires to be more than China’s Github
FutureX Capital got onto Gitee’s shareholder register by suggesting a separation from Baidu. Now, FutureX is backing the company to leverage its status as China’s dominant open-source software player
Japan M&A: Go digital, go global
Panasonic moved from hardware to software with the acquisition of Blue Yonder, a path that other Japanese corporates are expected to follow. PE investors can sell to them or work with them
Deal focus: Nothing’s swift evolution into something
A global brand developed by a European-Chinese founder, Nothing has made its presence felt on the idiosyncratic edges of the smart phone market. Investors have responded positively
Geely's China eVTOL unit gets Series A funding
Aerofugia, a subsidiary of Chinese automaker Geely that focuses on electric vertical take-off and landing (eVTOL) vehicles, has raised a Series A round of CNY 100m (USD 13.8m) led by Tsinghua Holdings Capital.
India’s A91 invests $30m in digital consultancy
Indian VC firm A91 Partners has invested USD 30m in KaarTech, a local digital transformation consultancy looking to expand in the Middle East, EU, and North America.
Korean battery materials supplier raises $302m
IMM Investment and Premier Partners are the largest participants in a KRW 400bn (USD 302.7m) funding round for EcoPro Innovation, a battery materials business of KOSDAQ-listed EcoPro.
Brookfield commits $1bn to Indian energy platform Avaada
Brookfield Asset Management has invested about USD 1bn in Indian energy platform Avaada as part of a newly closed USD 1.3bn funding round.
Hong Kong's OneDegree upsizes Series B to $55m
Hong Kong insurance start-up OneDegree has raised USD 27m from a group including Gobi Partners. It is billed as an extension to a Series B round from 2021, bringing the overall total to USD 55m.
China's GitHub substitute raises $107m
Gitee, a China-based open-source platform regarded as a domestic substitute for GitHub, has raised an extended Series B of CNY 775m (USD 107m) led by FutureX Capital.
Allegro buys PwC's Australia government consulting business
Turnaround specialist Allegro Funds has agreed to acquire PwC’s public consulting business in Australia, which is dealing with the fallout from a tax leak scandal. The sale price is AUD 1 (USD 0.66).
Monument joins forces with secondaries advisor Mozaic
Placement agent Monument Group has merged with Mozaic Capital Advisors, a US-based boutique advisory firm focused on secondary transactions, following an eight-year strategic partnership.
Creador buys 40% stake in Malaysia's Pet World, COPE exits
Malaysia-based Creador has acquired a 40% stake in prominent local pet food maker and brand owner Pet World, setting up an exit for COPE Private Equity.
China EV battery solutions provider raises $229m
Sunwoda Electric Vehicle Battery (EVB), a subsidiary of lithium-ion battery maker Sunwoda Electronic, has raised a CNY 1.65bn (USD 229m) Series B round from domestic investors.
Warburg Pincus buys majority stake in India bath fittings brand
Warburg Pincus has acquired a majority stake in India’s Watertec, an affordable bath fittings brand with a nationwide footprint.
Singapore T-cell therapist gets China government funding
Singaporean T-cell immunotherapy company Lion TCR has raised USD 40m in its second tranche of Series B funding. Guangzhou Industrial Investment and Capital Operation Holding Group led the round.
Advanced computing: Niche or indispensable?
Investors are wary of rising data processing challenges in a rapidly digitising world. They must make do with the imperfect solutions of today without failing to embrace frontier technologies