Investments
Korea's CJ CheilJedang brings Bain into Schwan's deal
Korean consumer conglomerate CJ CheilJedang Corporation has agreed to sell a 27% stake in CJ Foods America – a vehicle established for the acquisition of US frozen foods provider Schwan’s – to Bain Capital for $320 million.
Deal focus: CITIC sees resilience in beauty
CITIC Capital has secured a carve-out of marketing and e-commerce services player UCO Cosmetics. It exploits an overall slowdown in China’s economy but also relative sturdiness in the local beauty industry
Temasek-owned Azalea targets $600m from PE-backed bonds
Temasek Holdings-owned Azalea Asset Management is once again offering Singapore retail investors the opportunity to participate in private equity with plans to raise around $600 million through the sale of bonds backed by LP interests in funds.
Creador invests $18m in India's iValue
Creador has acquired a minority stake in iValue InfoSolutions, an India-based provider of cybersecurity services, for INR1.25 billion ($18 million).
India used car marketplace raises $13m Series A
SAIF Partners and Accel Partners have led a $13.2 million Series A round for Indian online used car marketplace Spinny, with participation by existing investors Blume Ventures and Simile Ventures.
Tencent leads $250m round for Chinese travel platform Mafengwo
Chinese travel platform Mafengwo has raised $250 million in a round of funding led by Tencent Holdings.
Deal focus: Archipelago makes Philippines banking play
Archipelago Capital Partners takes a minority stake in One Network Bank to support its parent's plans to lead the country's rural banking sector
Hong Kong's KaiOS gets $50m Series B
Hong Kong-based smart phone operating system provider KaiOs Technologies has raised a $50 million Series B round led by Cathay Innovation, a VC affiliate of Cathay Capital Private Equity.
Deal focus: Grofers returns to growth with Series F
Grofers is emerging from a rough patch in its mission to leverage India’s online grocery boom with an overhauled business model and a $200 million Series F round led by SoftBank Vision Fund
Sequoia, MassMutual lead Series B for Singapore's Biofourmis
Sequoia Capital India and MassMutual Ventures have led a $35 million Series B round of funding for Singapore-based Biofourmis, operator of a health analytics platform that tracks how patients are responding to treatment.
Deal focus: Clearing up Southeast Asia’s currency chaos
Investors see opportunity in bringing a promising currency exchange-focused fintech model from Europe into Southeast Asia. Singapore-focused YouTrip is the region’s first mover in this niche
China online education: Passing the test?
Capital has poured into China’s online education sector in recent years, but with losses mounting and valuations called into question, investors are finding that not all business models are created equal
China restaurant industry supplier gets $14m Series A
China-based Zuodashi, which provides digital solutions and food accompaniments to restaurant delivery businesses, has raised RMB100 million ($14 million) in Series A round led by Hua Gai Capital.
Australia’s Canva raises $70m at $2.5b valuation
Australian graphic design start-up Canva has raised $70 million from investors including US-based General Catalyst and Bond Capital, the new vehicle of Silicon Valley veteran Mary Meeker. It values Canva at $2.5 billion.
Wu Capital leads round for Chinese vocational training business
Sanjieke, a China-based vocational training services provider, has raised an RMB130 million ($19 million) in a Series B round of funding led by Wu Capital.
ADV to buy heavy vehicles unit from India's Tata
ADV Partners has agreed to acquire heavy vehicles producer Dutch Lanka Trailer Manufacturers (DLT), a Sri Lanka-based subsidiary of Indian conglomerate Tata Group, for INR3.05 billion ($43.7 million).
Archipelago completes investment in Philippines bank
Southeast Asia-focused GP Archipelago Capital Partners has completed its investment in One Network Bank (ONB), the rural subsidiary of Philippines-listed financial services provider BDO Unibank.
New Zealand agtech player gets $6.7m
BioLumic, a New Zealand-based start-up that develops ultraviolet (UV) crop yield enhancement systems, has raised a $6.7 million Series A led by US agricultural technology VC firm Finistere Ventures.
Impact investment faces tricky path to standardization
Impact investing has reached a “fundamental inflection point” in terms of the availability of investment opportunities and interest from LPs, but the institutionalization process is not straightforward.
GA, Värde cancel planned investment in India's PNB
General Atlantic and Värde Partners have terminated a planned INR18.5 billion ($267 million) investment in PNB Housing Finance, the publicly listed mortgage subsidiary of India’s Punjab National Bank (PNB).
Qiming leads Series B for Chinese hospital chain operator
Qiming Venture Partners has led a Series B round of nearly RMB100 million ($14 million) for Shanghai-based private hospital chain operator SinoUnited Health.
Vietnam inbound investment: Regional rivals
Strategic interest in Vietnam is growing, especially among companies within Asia looking to tap growth no longer available at home. PE investors see them as partners – and sometimes as competitors
SoftBank leads $200m round for India's Grofers
Indian online grocer Grofers has raised more than $200 million in a Series F funding round led by SoftBank Vision Fund.
Chinese IT equipment rental company raises Series B
China-based Little Bear Rental, which provides IT equipment services to corporates, has raised hundreds of millions of renminbi (over $14 million) in a Series B round of funding led by the Small & Medium-Sized Enterprises Development Fund - a government...