Investments
KKR, GIC to invest $680m in Philippines hospital operator
A KKR-led consortium has agreed to invest PHP35.3 billion ($680 million) in Metro Pacific Hospital Holdings (MPHH), prompting the Philippines-based hospital operator to abandon immediate plans for an IPO.
Korea's ACE Equity buys stake in semiconductor testing player
ACE Equity Partners, a Korean private equity firm that operates on a project fund basis, has agreed to invest KRW205 billion ($174 million) in local semiconductor testing specialist Tesna.
VCs set for exit as Alibaba buys China cybersecurity start-up
Alibaba Cloud, a subsidiary of Alibaba Group, has agreed to acquire Chaitin Technology, a Chinese cybersecurity start-up backed by Matrix Partners and Qiming Venture Partners.
China's Club Factory raises $100m Series D
Club Factory, a China-based e-commerce platform focused on India has raised a $100 million Series D round led by Qiming Venture Partners. Existing investors Bertelsmann Asia Investment and Frees Fund re-upped.
Lakeshore secures 2.75x return on Bangkok steakhouse deal
Thailand-based Lakeshore Capital has exited Bangkok area steakhouse chain Santa Fe to Singha Corporation for $50 million, generating a 2.75x return.
Deal focus: CDC gets comfortable in Bangladesh
Backing small business lender BRAC Bank and establishing an office in Dhaka is part of CDC Group's wider plan to more than double its exposure to Bangladesh over the next three years
Deal focus: Udaan signals India's digital progress
B2B marketplace Udaan has achieved unicorn status faster than any of its illustrious Indian forbears. A readymade national broadband infrastructure certainly helped
VinaCapital invests Vietnam industrial supplier
A VinaCapital-led consortium will invest $21.4 million in Ngoc Nghia, a Vietnam-based plastics supplier that claims to be the largest local packaging materials producer of its kind.
Chinese online property marketplace set for IPO
Fangdd Network, a Chinese online real estate marketplace backed by the likes of FountainVest Partners and CDH Investments, has filed to list in the US.
Globis, WiL, Japan Post back Series B for AI Medical
AI Medical Service, a Japanese healthcare technology start-up working on what it claims is the world’s first artificial intelligence-enabled endoscopic diagnosis system, has raised JPY4.6 billion ($43 million) in Series B funding.
Creador leads Series C for India's Kogta Financial
Creador has led a INR3 billion ($42 million) Series C round for Kogta Financial, a non-banking finance company (NBFC) looking to deepen its penetration in India’s central and western states.
India's Oyo raises $700m in ongoing Series F
Indian hotel platform Oyo has raised $700 million from RA Hospitality Holdings, an entity controlled by founder and CEO Ritesh Agarwal, as part of a Series F round targeting $1.5 billion.
No easy answers in Philippines' sluggish VC market – AVCJ Forum
Industry participants at the AVCJ Philippines Forum were hard-pressed to explain a disappointing lag in local venture capital ecosystem development.
Deal focus: Avataar seeds India SaaS portfolio
Having won support from HarbourVest Partners to spin out a portfolio from his former employer, Norwest Venture Partners, Mohan Kumar is taking aim at India's underdeveloped enterprise software space
US tech regulation: Green card or red card?
Compliance with US regulations on foreign investment in critical technologies is forcing Chinese VC players to examine their fund structure and governance as well as their deployment strategies
Chinese fresh produce retailer Benlai raises $200m
Chinese online fresh produce retailer Benlai Group has raised $200 million in the first tranche of a Series D round led by Mingde Holding. Existing investors Gaorong Capital and CDH investments re-upped.
Navis buys Malaysian durian producer
Navis Capital Partners has acquired Malaysian durian products exporter Hernan Corporation with a view to leveraging strong demand for the fruit in China and in Chinese communities globally.
Tencent injects $150m into China's VIPKid
VIPKid, China-based English language learning platform, has announced the completion of a Series E funding round led by Tencent Holdings.
Family offices: The IT crowd
Asia's family offices have benefited by going big on growth capital and venture, leveraging technology trends in the region. However, not all family money is smart money
Deal focus: Darwinbox prioritizes Southeast Asia
Human resources software provider Darwinbox is among the Indian business services players leading the charge into Southeast Asia
Anacacia backs Australian industrial consulting business
Anacacia Capital has invested in Root Partnerships, which claims to be one of Australia’s largest independent infrastructure advisory and project management firms.
Southeast Asia's internet economy to be worth $100b in 2019
The gross merchandise value (GMV) of Southeast Asia’s internet economy will surpass $100 billion this year and hit $300 billion by 2025, according to a report by Google, Temasek Holdings, and Bain & Company.
Co-Stone leads $28m Series B for Chinese gene sequencer
Gene+ Technology, a Chinese provider of gene sequencing services used to support cancer diagnoses, has raised RMB200 million ($28 million) in a Series B round led by Co-Stone Asset Management.
India's Udaan closes Series D at $585m
India’s Udaan has closed its Series D round at $585 million, with the latest contribution featuring Tencent Holdings and the VC arm of Citi. It values the B2B online marketplace at $2.5-3 billion.