Investments
VCs invest Singapore cell-based milk company
A group of US-based investors led by Lever VC has backed an early-stage round of undisclosed size for Singapore’s TurtleTree Labs, which creates milk from cells with no animal needed.
GGV leads $24m round for India's Vedantu
Indian online tutoring service Vedantu raised $24 million in an extended Series C round led by GGV Capital. It is the latest example of the primarily China-focused manager's push into India.
Chinese fashion design platform raises $14m
Linctex Digital, a Shanghai-based design services platform for the fashion industry, has raised RMB100 million ($14 million) in funding led by Gaorong Capital. Shunwei Capital, Vision Plus Capital, Baidu Ventures and Yinxinggu Capital also took part.
GrabWheels gets $30m for Southeast Asia EV rollout
GrabWheels, a unit of Singapore-based ride-hailing giant Grab, has received $30 million from Taiwanese motorcycle maker Kymco for electric vehicle (EV) development in Southeast Asia.
Portfolio: Unison Capital and CHCP
Through its Community Healthcare Coordination Platform, Unison Capital wants to bring efficiencies and economies of scale to parts of Japan’s healthcare sector that have been isolated from private markets
Chinese online insurance player raises $55m in US IPO
Huize Holding, a Shanghai-based insurance platform backed by SAIF Partners, has raised about $55 million in a US IPO.
Hamilton Lane backs Legend Capital fund restructuring
Hamilton Lane has led a $200 million restructuring of a VC fund managed by China-based Legend Capital, transferring 12 investments into a new vehicle as a means of extending the holding period.
EQT-backed Nexon announces trio of Australia bolt-ons
Nexon Asia Pacific, an Australian enterprise IT services provider controlled by EQT Partners, has acquired three local IT businesses.
Deal focus: Brookfield lends a helping hand
Brookfield Asset Management chose IndoStar Capital Finance as its way into India’s private lending space, putting faith in the non-banking finance company’s ability to diversify its business streams
Deal focus: Booktopia prepares for build-out
What was just a side business has become a successful one.
VC and age: No industry for old men
The trendy, shape-shifting world of venture capital is broadly seen as a young person’s game, although hard evidence to this effect remains in scarce supply
Quadrant acquires Australia enterprise IT business
Australia’s Quadrant Private Equity has agreed to acquire the enterprise services division of listed IT specialist Arq Group for A$35 million ($23.5 million).
Eight Roads invests in Indian mobile marketing platform
MoEngage, an India and US-focused business that helps corporate clients improve mobile engagement with consumers, has received $25 million in Series C funding led by Eight Roads.
China B2B platform Yijiupi raises new round, buys Zskuaixiao
Yijiupi, a Chinese B2B e-commerce platform that initially focused on liquor products, has acquired local B2B consumer goods distributor Zskuaixiao. It has also secured a new round of funding backed by several Zskuaixiao investors.
Kedaara invests $28m in Indian health insurer
Indian private equity firm Kedaara Capital invested INR2 billion ($28 million) to acquire a minority stake in the healthcare insurance unit of Religare Enterprises.
Warburg Pincus backs Singapore's Circles.Life
Warburg Pincus has invested an undisclosed sum in Circles.Life, a Singapore-based digital-only telecom operator.
EQT opens Australia office
EQT Partners has opened an Australia and New Zealand-focused office in Sydney as part of a broader Asia Pacific expansion agenda.
General Atlantic re-ups in India’s Byju’s
General Atlantic has made another investment in India-based online learning provider Byju’s.
Chinese medical imaging business secures $86m Series B
Shanghai-based Universal Medical Imaging, China’s largest independent imaging diagnosis company has raised a RMB600 million ($86 million) Series B round led by Cathay Capital, V Star Capital and CEC Capital.
India’s Lightbox invests in agritech player
Indian agritech startup WayCool Foods raised $32 million in a Series C funding round led by Lightbox Ventures.
Private credit: Untapped market
Recent industry feedback suggests middle-market companies across Asia will increasingly look to private credit to support future growth. Europe may offer clues as to how the expected uptake will unfold
Australian online book retailer gets $13m
Booktopia, an Australian online retailer specializing in books, has closed a Series A round of A$20 million ($13.4 million), after 16 years of self-funding.
Northstar joins $20m round for Indonesia education start-up
Northstar Group and Beenext have joined a $20 million Series A round for Indonesia’s Zenius Education.
Polaris pursues take-private of Japan's Sogo Medical
Polaris Capital Group has made an offer to privatize Sogo Medical Holdings, a Japanese pharmacy chain operator and B2B healthcare management platform, at a valuation of JPY76.3 billion ($694 million).