Investments
Japan e-scooter maker raises $33.7m
Japanese e-scooter maker and urban shared micro-mobility developer Luup has raised a JPY 4.5bn round led by local VC firm Spiral Capital.
Eight Roads leads $38m round for China biotech player Adcentrx
China and US-based biotech company Adcentrx has raised USD38m in an extended Series A round led by Eight Roads Ventures, with participation from F-Prime Capital, ABio-X, Delta Capital, and Trinity Innovation Fund.
BPEA EQT, Nord Anglia buy sports education brand
BPEA EQT and Nord Anglia Education, one of its portfolio companies, have agreed to acquire IMG Academy – originally known as Nick Bollettieri Tennis Academy – for an enterprise valuation of USD 1.25bn.
Valuation stalemates stall SE Asia exits – M&A Forum
Private equity investors at the Mergermarket M&A Forum Southeast Asia sensed that something has to give in a deadlocked regional exit market, where the bid-ask divide could break in either direction.
Deal focus: CBC gets counterintuitive in China
CBC Group has helped multiple start-ups move from in-licensing to drug development to commercialisation. With China’s Hasten, it is navigating this tried-and-tested journey in reverse
Deal focus: Chamlion leaves its mark on 3D printing
The dental industry was one of few areas in which China’s army of 3D printing start-ups found sufficient addressable demand. Chamlion has risen to the top of the pile by virtue of a timely services pivot
Deal focus: Excavating the lithosphere
Australia’s Investible is helping lithium processor Novalith clean up one of the dirtiest links in the electric vehicle supply chain. The science appears sound, but can it stay clean as it scales?
V Fund backs China treasury management software player
V Fund Management, a Beijing-based PE firm founded by a group of former Goldman Sachs bankers, has led a Series C round amounting to hundreds of millions of renminbi for Sikulifang, a local software-as-a-service (SaaS) provider specialising in treasury...
China intelligent chassis supplier raises $58m
Global Technology, a China-based provider of intelligent chassis, has raised a Series C round of CNY 400m (USD 58m) from CICC Capital, Shenzhen Investment Holdings Capital, Qingyan Capital, and Huosen H&S.
TPG abandons bid for Australian funeral services provider
TPG Capital has withdrawn its AUD 1.8bn (USD 1.2bn) unsolicited takeover bid for Invocare, a listed Australian provider of funeral services and operator of memorial parks and crematoria.
CTC Capital leads $72m round for China substrates specialist
Chinese semiconductor industry investor CTC Capital has led a first tranche of Series A funding of more than CNY 500m (USD 72.5m) for AaltoSemi, a local manufacturer of chip packaging substrates.
Japan VCs back hair colouring chain
A group of Japanese VC investors including Global Brain have provided JPY 1.1bn (USD 8.4m) in Series A funding to Fast Beauty, operator of hair colouring shop chain Fufu.
GL Capital leads $290m investment in China's Sangon Biotech
Chinese healthcare-focused private equity firm GL Capital has led a CNY2bn (USD 290m) investment in local life sciences company Sangon Biotech.
CBC, Mubadala lead $315m round for China's Hasten Biopharma
Specialist healthcare investor CBC Group and Mubadala Investment have led a USD 315m round for China-based Hasten Biopharmaceutic, with participation from other undisclosed institutional investors.
Creador moves stake in Malaysia's CTOS between funds
Creador has rolled over a 14.7% stake in Malaysia-listed credit bureau CTOS Digital, one of its key investments, from its second fund to its fifth fund.
China energy storage battery maker Rongke raises $145m
Legend Capital has led a CNY 1bn (USD 145m) Series B funding round for China-based energy storage battery developer Rongke Power.
China dental 3D printing company raises $34m
Chinese dental 3D printing company Chamlion Technology has raised CNY 236m (USD 34m) in Series B funding from Vertex Ventures, 3H Health Investment, and Zhencheng Investment.
Platinum buys Australian building products supplier
Platinum Equity has agreed to carve out the Australasia business of global building products manufacturer Jeld-Wen Holding for approximately AUD 688m (USD 461m).
US, India cybersecurity player gets $50m Series B
US and India-based cyber risk management software-as-a-service platform Safe Security has closed a USD 50m Series B round led by Sorenson Capital.
J-Star invests in Japan IT provider
Japanese private equity firm J-Star has invested an undisclosed sum in local IT staffing services provider Miraie in an apparent consolidation play.
Coller closes first deal for debut renminbi fund
Coller Capital has completed the first deal from its debut renminbi-denominated secondaries fund, participating in a CNY 315m (USD 46m) GP-led transaction involving healthcare assets held by Chinese VC firm Legend Capital.
US climate VC leads round for Australia lithium player
Lowercarbon Capital, a US-based VC firm specialising in climate, has led a AUD 23m (USD 15.5m) Series A round for Australian lithium production services company Novalith Technologies.
1Q analysis: Barely disguised weakness
Government guidance funds in China and Toshiba Corporation in Japan papered over obvious cracks in Asia private equity fundraising and investment. Nothing could hide the pain around exits
Asia fundraising: To the grindstone
As macro uncertainties add red tape to fundraising processes and oblige some managers to operate on a deal-by-deal basis, the improvisational, survivalist nature of Asian private equity is on display