Investments
Google commits $10b for India digitization effort
Google will launch a INR750 billion ($10 billion) fund to make equity, operational, infrastructure and ecosystem investments that seek to increase the pace of digitization in India.
Large-cap vehicles support PE fundraising revival in second quarter
Asia private equity fundraising rebounded from a seven-year low in the first quarter of the year to reach $24 billion for April through June, but commitments were concentrated on a handful of managers.
Quan leads $80m Series A for China biotech player
Healthcare-focused VC firm Quan Capital has led an $80 million Series A round for Citrine Medicine, a Chinese biotech developer set up by Eight Roads, F-Prime Capital, and Vivo Capital.
Qualcomm Ventures invests $97m in India’s Jio Platforms
Qualcomm Ventures has agreed to invest INR7.3 billion ($97 million) in India’s Jio Platforms, the holding company for various internet and telecom assets owned by Reliance Industries.
Deal focus: Cortina goes natural for debut Australia deal
Cross-border PE investor Cortina Capital has backed Australian nutritional supplements producer ATP Science with an eye to China expansion. But establishing brand recognition at home is the first step
China's Newlink raises $128m Series D
Newlink Group, operator of a platform that helps drivers in China locate the best value gas stations, has raised a RMB900 million ($128 million) Series D round led by CICC Capital. Xiaomi Corporation also participated.
China’s Harbour BioMed raises $103m Series C
Chinese biotech start-up Harbour BioMed has raised $102.8 million in Series C funding. It comes four months after it closed an extended Series B round of $75 million.
Deal focus: J-Star maneuvers Japan’s restaurant lull
J-Star's acquisition of Pepper Lunch is driven by a willingness to look past COVID-19 dislocations and focus on the long-term fundamentals of the fast-casual dining space in Japan
Chinese online art tutoring platform secures $40m
Meishubao, China’s leading online art education platform, has raised $40 million in an extended Series C round led by Tencent Holdings.
Sequoia leads $100m Series C for China's Kuaidian
Kuaidian, a Chinese interactive content provider, has raised close to $100 million in Series C funding led by Sequoia Capital China. Existing investors GGV Capital and Morningside Venture Capital re-upped.
CLSA looks to connect wealthy investors with unicorns
CLSA, the international arm of China-based brokerage CITIC Securities, has launched a strategy to offer high net worth clients investment opportunities in late-stage private companies in Asia.
Investcorp leads $56m round for India co-living operator
Investcorp has led a $56 million Series C round for Indian managed co-living accommodation platform operator Zolo.
Corporate VC in Asia: Moment of truth
Cutting non-core operations is the standard corporate response to an economic downturn. Companies in Asia must decide whether the long-term benefits of exposure to new technologies outweighs short-term pain
Baidu Capital leads Series D for China logistics platform
FineEx, a Shanghai-based logistics provider specializing in e-commerce, has raised RMB500 million ($71 million) in a Series D round of funding led by Baidu Capital.
Indonesia's Social Bella raises $58m Series E
Social Bella, an Indonesian online services provider for the beauty and personal care industry, has raised $58 million in Series E funding.
EQT revises offer for New Zealand’s Metlifecare
EQT has submitted a revised offer to acquire New Zealand retirement village player Metlifecare at a lower valuation after facing a legal challenge over its attempt to terminate a previously agreed deal.
Chinese online-plus-offline retailer KK Group raises $42m
Chinese retailer KK Group - formerly known as KK Guan - has raised RMB1 billion ($41.6 million) in funding led by CMC Capital. BA Capital and Ince Capital Partners also participated.
Japan's J-Star acquires Pepper Lunch
Japanese private equity firm J-Star has acquired regional restaurant chain Pepper Lunch for an undisclosed sum.
TA Associates invests in Indian stock exchange
TA Associates has invested an undisclosed sum in the National Stock Exchange of India (NSE).
Intel Capital to invest $250m in India’s Jio Platforms
Intel Capital has agreed to invest INR18.9 billion ($250 million) in India’s Jio Platforms marking the company’s 12th investment in 11 weeks.
Software vs non-software: Digital distractions
Venture capital investors gravitate towards software start-ups, attracted by dynamic founding teams and readily scalable propositions. But should they be devoting more time and resources to hardware and biotech?
China data storage provider XSKY raises $45m
China-based data storage software services provider XSKY has raised a RMB320 million ($45 million) Series D led by China's State Owned Venture Capital Fund.
China's CF PharmTech raises $50m Series F
CF PharmTech, a Chinese medical devices maker focused on innovative respiratory products, has raised a $50 million Series F round with support from CICC Capital.
China's Gan & Lee Pharmaceuticals gains after A-share debut
Chinese insulin manufacturer Gan & Lee Pharmaceuticals, which counts Qiming Venture Partners and Goldman Sachs among its investors, raised RMB2.5 billion ($354 million) through an A-share IPO.