Investments
Deal focus: Spinny aims to be more than a marketplace
Spinny - alongside industry peer Truebil - has taken the used car sales model that works for Carvana in the US and applied it to India. Combining online reach with offline legitimacy is the key
Deal focus: 51CTO’s prescient training pivot
Chinese IT platform 51CTO switched from online media to online training five years ago and hasn't looked back. With $20 million in Series C funding, the company wants to sustain its rise
Lightstone leads $50m Series B for Indian debt marketplace
LGT Lightstone Aspada has led a $50 million Series B round for Vivriti Capital, which operates CredAvenue, an Indian platform that helps companies raise debt.
Chinese drug developer RemeGen raises $100m
RemeGen, a Chinese drug developer, has raised a $100 million round led by Lilly Asia Ventures and Lake Bleu Capital.
Anchor invests in entertainment unit of Korea's Kakao
Anchor Equity Partners is paying KRW209.8 billion ($163 million) for an approximately 13% stake in the music and entertainment division of Korean internet giant Kakao.
PE targets sensual wellness: Good vibrations
A recent commitment by China’s CDH Investments to Wow Tech underlines how sensual health products such as vibrators are moving from the margins to the mainstream, globally and in Asia
Chinese insurtech player Insgeek gets $25m Series C
SIG and China Renaissance New Economy Fund have co-led a $25 million Series C round for Insgeek, a Chinese insurance technology specialist.
Grab launches Singapore-Vietnam accelerator
Singapore-based ride-hailing app Grab has teamed up with the local technology regulator to launch a start-up accelerator focused on facilitating business expansions into Vietnam.
Everest leads $24m round for China's Cloudwise
Chinese enterprise digital solutions provider Cloudwise has raised $24 million in an extended Series D round led by Everest Venture Capital. Sequoia Capital China, WestSummit Capital, ASG and Koala Fund also participated.
Korea's Mirae leads $500m round for Impossible Foods
Korea’s Mirae Asset Global Investments has led a $500 million Series F round for Impossible Foods, a US-based food technology supplier pursuing an Asia expansion.
Singapore's Gateway invests $100m in TVS Supply Chain Solutions
Gateway Partners, an emerging markets-focused private equity firm based in Singapore, has invested $100 million in TVS Supply Chain Solutions (TVS SCS), an Indian supply chain management services company.
Sequoia leads $30m Series B in Chinese RPA player
Encoo Technology, a Chinese robot process automation (RPA) service provider, has raised a $30 million Series B round led by Sequoia Capital China. GSR Ventures and Future Capital re-upped, while Shenzhen Venture Capital came in as a new investor.
Partners Group rebuffed in pursuit of Australia's Healius
Australian healthcare services provider Healius has rejected a A$2.1 billion ($1.4 billion) buyout offer from Partners Group, saying it doesn’t reflect the fundamental value of the company.
China's Harbour BioMed gets $75m Series B extension
China-based biotech developer Harbour BioMed has closed an extended Series B round with a fresh $75 million commitment from a group of VCs. It initially raised $85 million in 2018.
ByteDance invests $26m in Chinese talent manager
Chinese celebrity management agency Mountain Top has closed a RMB180 million ($26 million) Serie B funding round provided by ByteDance Technology, operator of the Toutiao news aggregation and TikTok short video platforms.
Temasek leads extended round for Singapore's ShopBack
ShopBack, a Singapore-based rewards platform that generates sales for online and offline retailers, has completed a $75 million extended round of funding led by Temasek Holdings.
VC-backed Chinese driverless delivery start-up gets $28m
Addor Capital and Chinese electric vehicle manufacturer Lixiang Automotive have led a RMB200 million ($28 million) in an extended Series A round for Neolix, a domestic unmanned distribution start-up.
Indian payment network for teens raises $4.7m
A group of investors including Y Combinator, Sequoia Capital India and angel investors have contributed $4.7 million in funding to FamPay, a social network for Indian teenagers centered on a parent-supervised payment service.
UK strategic acquires China's VC-backed Yimian Data
UK-based enterprise IT services provider Ascential has acquired Yimian Data, a Chinese e-commerce analytics business backed by local VC firms ZhenFund and Legend Star.
Deal focus: UTEC positions Tricog for Japan expansion
University of Tokyo Edge Capital built an unusual bridge between the start-up worlds of Japan and India when backed Tricog's artificial intelligence-enabled healthcare solution
Meituan-Dianping invests $87m in China food supply chain player
Shenzhen-based agricultural products distributor Wangjiahuan has raised RMB600 million ($87 million) in Series B funding led by Meituan-Dianping. Existing backer Hidden Hill Capital - a PE firm established by warehouse operator GLP - also took part.
VCs back Chinese expense management start-up
Fenbeitong, an enterprise payment and expense management services provider based in Beijing, has raised $36 million in an extended Series B round led by Ribbit Capital, Eight Roads Ventures and Glade Brook Capital.
Coronavirus intensifies Asia exit, performance concerns - Bain
Asian private equity investors face considerable challenges in 2020 with the coronavirus outbreak likely to exacerbate existing concerns around an impending global downturn, a drop-off in exits and dwindling deal-making activity in China, according to...
US GP Jaguar acquires China logistics player
US private equity investor Jaguar Growth Partners has launched its first Asia fund with the acquisition of Chinese logistics operator Brilliant.