Investments
EQT faces legal action after scrapping NZ aged care deal
New Zealand retirement village operator Metlifecare has filed legal action aimed at forcing EQT Partners to fulfill an acquisition that it decided to terminate due to COVID-19.
Zentalis raises $20m for China drug development venture
Zentalis Pharmaceuticals, a US cancer treatment specialist that raised $165 million in an IPO last month, has secured $20 million in funding to establish a China-based joint venture.
Deal focus: Validus takes holistic approach to SME financing
Singapore peer-to-peer lender employs algorithm-based credit assessment tools and an unorthodox approach to origination as it seeks to address inefficiencies in Southeast Asian supply chain finance
Chinese smart car wash business closes $84m Series C
1km, China’s largest car wash company, has raised RMB600 million ($84 million) in Series C funding across three tranches. The most recent - worth $30 million - was led by ClearVue Partners.
B Capital leads Series B for Indian bookkeeping start-up
B Capital has led a $60 million Series B round for Khatabook, a digital ledger software provider for micro, small and medium-sized enterprises (MSMEs) in India.
Australia workforce training start-up Go1 gets $40m
Australian workforce training services start-up Go1 has raised a $40 million Series C round led by local strategic Seek and US-based Madrona Venture Group.
Bangladesh-focused VC makes debut investment
Anchorless Bangladesh, a New York-headquartered VC firm dedicated to the country, has made its debut investment in a local logistics start-up.
Deal focus: KKR's Colonial First State breakthrough
Divestments of non-core assets by Australia's big four banks are keenly tracked by strategic players and financial sponsors. KKR's investment in Colonial First State represents the first PE deal of this nature
China mezzanine: Not the norm
China’s local currency mezzanine capital space is underpenetrated, underpopulated and different to comparable strategies elsewhere. A handful of domestic GPs have begun to get traction. Will others follow?
Chinese home fitness app raises $80m Series E
Keep, a Chinese mobile app that provides fitness training programs, has raised $80 million in Series E funding led by Jeneration Capital.
Optum, Health Catalyst back Singapore's Holmusk
US investors Optum Ventures and Health Catalyst Capital have co-led a $21.5 million Series A round for Singapore-based healthcare technology developer Holmusk.
BGH submits revised offer for Australia's Village Roadshow
BGH Capital has been granted a four-week period of exclusive due diligence by Village Roadshow, having submitted a revised bid for the Australian cinema and theme park operator that is 40% lower than its original offer.
China's JD.com raises $230m for MRO unit
JD MRO, a subsidiary of Chinese e-commerce giant JD.com that specializes in industrial maintenance, repair and operations (MRO), has raised $230 million in Series A funding led by GGV Capital.
General Atlantic joins PE backers of Reliance's India app platform
General Atlantic has agreed to invest INR65.98 billion ($870 million) in Jio Platforms, becoming the fourth investor in the holding company for Indian conglomerate Reliance Industries' internet and telecom assets.
TA backs Australia's Honan Insurance
TA Associates has confirmed a growth investment of undisclosed size in Australian corporate insurance provider Honan Insurance.
Jio Platforms: India's giant in waiting
From Silver Lake to Vista Equity Partners to Facebook, international investors are flocking to Reliance Industries' internet and telecom platform. But can the business deliver on its undoubted potential?
Deal focus: Pop Mart dominates China's dolls
Best known in China for the Molly series of fashion dolls, Pop Mart emerged as a leader before many others recognized the market potential. The Loyal Valley Capital-backed company is now preparing for an IPO
China robotics, AI player Data Ground raises $35m
Data Ground, a Chinese robotics and artificial intelligence (AI) technology developer, has raised RMB270 million ($35 million) in an extended Series B round led by Shenzhen Venture Capital.
ADV backs China postgraduate, vocational training specialist
ADV Partners has completed its investment in Universal Education Holdings, a China-based online provider of postgraduate test preparation and vocational training under the Wanxue brand.
Tencent, Sequoia invest $244m in property manager Shimao
Shimao Services, the property management arm of Hong Kong-listed Shimao Property, has raised $244 million from Tencent Holdings and Sequoia Capital China.
Tencent invests in PE-backed Tim Hortons China expansion
Tencent Holdings has invested in the China franchise of coffee-and-donut chain Tim Hortons, which operates as a joint venture between Restaurant Brands International (RBI) and Cartesian Capital Group.
Japan biotech player raises $25m Series B
Japanese biotech developer Modulus Discovery has raised $25.5 million in Series B funding from a group of local VCs including SBI Investment.
Indian agtech start-up raises $5.9m Series A
Indian agricultural technology start-up Intello Labs has raised $5.9 million in a Series A funding round led by Saama Capital, Singapore’s Grow and SVG Ventures-Thrive.
Gaorong leads Series A for Chinese gene sequencing player
Qitan Technology, a Chinese gene sequencing company, has raised RMB100 million ($14 million) in Series A funding led by Gaorong Capital. Other backers include Yinxinggu Capital and Yahui Preision Medical Fund.