Investments
Thailand's Pomelo gets $52m Series C
Thailand-based fashion retailer Pomelo has raised a $52 million Series C round from a group including Hong Kong’s Provident Growth. It is being called the first-ever Series C for a Thai start-up.
Tencent, Sequoia lead $100m Series C for China’s Smart Fabric
Smart Fabric, a start-up that seeks to digitize China’s textile industry, has received a $100 million Series C round jointly led by Tencent Holdings and Sequoia Capital China.
Deal focus: Jingling seeks to stand out from the crowd
China’s Jingling contemplates an expansion of its social e-commerce strategy after securing a $100 million Series C round and de-risking its business model
Tencent joins $300 million round for second-hand trading platform
Tencent Holdings has joined a $300 million Series B round for Zhuanzhuan, a Chinese second-hand goods trading platform controlled by US-listed online classifieds marketplace 58.com.
Hong Kong's WHub launches crowdfunding platform
WHub, a Hong Kong-based start-up services provider and accelerator, has launched the territory’s first licensed equity crowdfunding platform for technology entrepreneurs.
PAG commits $300m to China's LexinFintech
PAG has agreed to invest $300 million in LexinFintech, a US-listed financial technology platform provider based in China.
Mithril Capital invests $45m in India's Glance
Mithril Capital, a US-based VC firm launched by PayPal co-founder Peter Thiel, has invested $45 million in Glance, an Indian smart phone media service provider.
GIC leads $500m investment in Vietnam's VCM Services
A consortium led by Singapore’s GIC Private has agreed to invest $500 million in VCM Services, a consumer retail division of Vingroup, Vietnam’s largest conglomerate.
China secondaries: Curious conversions
An exit lag and difficulties raising money for renminbi funds in China has created a novel opening for secondaries investors comfortable moving assets from one currency to another
Advent to buy control of Indian snacks producer DFM
Advent International has agreed to acquire a 67.9% stake in Indian snacks manufacturer DFM Foods from investors including WestBridge Capital for INR8.52 billion ($118.7 million). It has made an open offer to buy a further 26% of the company for INR3.26...
CPPIB confirms $115m investment in India's Delhivery
Canada Pension Plan Investment Board (CPPIB) has confirmed it has invested $115 million in Indian e-commerce logistics services provider Delhivery.
Partners Group finds proxy for China sports boom
From Adidas to Li Ning, sportswear brands are expanding aggressively in China. Recent Partners Group acquisition BCR Group is among the leaders in a $2 billion industry that furnishes new stores
Legend leads round for Chinese community group buying business
Legend Capital has led a $100 million investment in Tongcheng Life, a social e-commerce business incubated by Hong Kong-listed online travel agency Tongcheng-Elong.
Alibaba, Yunfeng invest $700m in NetEase Cloud Music
NetEase Cloud Music, one of China's largest music streaming platforms, has secured a $700 million investment from Alibaba Group and Yunfeng Capital, a private equity firm established by Alibaba founder Jack Ma.
Quadrant to acquire Australia's Love To Dream
Australia’s Quadrant Private Equity has agreed to acquire a majority interest Love To Dream, a domestic baby care brand focused on swaddles and sleepwear.
Tencent invests $120m in Chinese CRM provider
Tencent Holdings has committed $120m in Series E funding to Xiaoshouyi, a Chinese customer relationship management (CRM) software provider that has several VC backers.
QIC to acquire Australian marine logistics player
Queensland Investment Corporation (QIC) has agreed to acquire 100% of Australian marine logistics provider Sea Swift, facilitating exits for CHAMP Ventures and HarbourVest Partners.
PE investors compete for minority stake in China's Gree
Consortiums led by Hopu Investment and Hillhouse Capital are competing for a 15% interest in Gree Electric Appliances against a backdrop of tensions between the Chinese company's CEO and its state-owned parent.
Profile: CCV's Wei Zhou
Wei Zhou, founder of China Creation Ventures, turned a mid-career pitstop and a fateful encounter in the US into a bridge between his early work as a technologist and his ultimate calling as an investor
PAG buys control of China biotech player for $532m
PAG has agreed to pay RMB3.8 billion ($532 million) for a 58% stake in a biotech unit of Zhejiang Hisun Pharmaceutical. It is being called the largest PE investment in China’s biotech space to date.
Permira positions Topcast as pan-Asian roll-up play
Permira bought aircraft parts distributor Topcast Aviation Suppliers in expectation of robust business growth as Asian fleets increase in size and age. Further upside could come through consolidation
Partners for Growth seals debut Indonesia venture debt deal
US venture debt provider Partners for Growth (PFC) has completed its first deal in Indonesia – and one of its largest in Asia Pacific – by extending a $20 million credit line to digital credit start-up Kredivo.
PE-backed data center platform makes Asia investments
Princeton Digital Group, a Singapore-based data center developer backed by Warburg Pincus, has confirmed three project acquisitions across Asia as part of a $500 million regional expansion.
Sequoia leads $82m Series E for Australia’s Culture Amp
Sequoia Capital China has led an $82 million Series E round for Culture Amp, an Australian enterprise technology provider focused on human resources (HR).