Investments
Naspers to back Remitly expansion in India
Naspers has agreed to lead a Series D funding round of up to $115 million via its PayU unit to support an international expansion by US financial technology player Remitly, including a push into India.
Yunfeng leads $120m round for China's Xiaozhu.com
Chinese PE firm Yunfeng Capital has led a $120 million Series E round of funding for Xiaozhu.com, a Beijing-based short-term rentals platform.
Deal focus: GPs back Klook's tailored travel offering
Hong Kong-based Klook has won $60 million in funding to further its efforts to consolidate the fragmented travel activities space - in Asia and globally
Asian LPs and infrastructure: Rousing the giants
Infrastructure is shedding its reputation for being a sleepy sector as Asian investors join a global surge of interest in the asset class. Strategic angling for the best deals will now require a more nimble approach
Q&A: Samena Capital's Shirish Saraf
With its focus on Asia and the Middle East and a roster of big-name owner-shareholders, Samena Capital is a GP with a difference. Shirish Saraf, the firm’s founder and vice chairman, explains the strategy
J-Star acquires Forpets in latest pet bolt-on
Japan’s J-Star has acquired 100% of domestic veterinary services company Forpets as a bolt-on of existing portfolio company JVCC. It is JVCC’s third such transaction this year.
Thailand's Pomelo gets $19m Series B
Thailand-based clothing retailer Pomelo Fashion has received a $19 million investment from Provident Capital Partners, Lombard Investments and JD.com. It is said to be the largest Series B ever raised by a Thai company.
Canyon Bridge founder charged with insider trading
One of the founders of Canyon Bridge Capital Partners – a private equity firm backed by Chinese LPs that was blocked from buying US-based Lattice Semiconductor earlier this year – has been charged with insider trading.
China's Guazi raises additional $180m for Series B
Guazi, an online consumer-to-consumer (C2C) used car trading platform that spun out from US-listed Chinese classifieds site 58.com, has raised another $180 million to close its Series B round at $600 million.
Hony backs Chinese pharmacy management platform
Hony Capital has led a Series B round of funding for Quanyi Pharmacy Chain, an investment and operating platform that is intended to consolidate Chinese retail drug stores.
China used car auction player Tiantian Paiche closes Series C
Tiantian Paiche, a Chinese online used car trading platform, has raised $80 million from investors such as Industrial Bank of China to close its Series C round of funding at $180 million.
ClearVue, TAL lead $55m round for China's Changingedu
Consumer-focused GP ClearVue Partners and US-listed TAL Education Group have jointly led a $55 million Series D round for Changingedu, a China-based education platform that connects teachers and students.
Australia backs four healthcare tech start-ups in VC push
The CSIRO Innovation Fund, a venture program under the Australian government’s latest science development policy push, has invested in its first four local technology start-ups.
Asian GPs join $41m round for Wonder Workshop
Wonder Workshop, a US-based education robot maker with a strong presence in China, has raised a $41 million Series C round from a group of investors including Tencent Holdings, MindWorks Ventures and Softbank Korea.
Indonesia's Snapcart gets $10m Series A round
Vickers Venture Partners has led a $10 million Series A funding round for an international expansion push by Indonesian marketing data researcher Snapcart.
KKR invests $74m in Indonesian bread producer
KKR has paid around $74 million for a 12.64% stake in Nippon Indosari Corpindo, an Indonesian bakery business backed by local conglomerate Salim Group and best known for the Sari Roti brand.
Deal focus: GPs boost Prenetics' Asia genetics effort
Beyond Ventures and Alibaba Group have led a funding round that will support the Asia expansion of Hong Kong-based genetics healthcare start-up Prenetics
Hong Kong's Klook gets $60m Series C
Sequoia Capital China, Goldman Sachs and Matrix Partners have co-led a $60 million Series C funding round for Hong Kong-based travel services company Klook.
Toshiba shareholders approve $18b TMC sale to Bain consortium
The shareholders of Japanese conglomerate Toshiba Corporation have approved the sale of the company’s Nand flash memory unit Toshiba Memory Corporation (TMC) to a consortium led by Bain Capital for JPY2 trillion ($17.6 billion).
China M&A: Common ground
Chinese outbound M&A is stigmatized at the moment due to concerns about regulatory barriers both foreign and domestic, but buyers and sellers can reach mutually beneficial compromises
Deal focus: Vingoo to broaden its fresh offering
Chinese fresh orange juice vending machine maker Vingoo is planning national expansion with a Series B round led by Legend Capital and Joy Capital
Shaw Kwei acquires Singapore oil industry supplier for $50m
Shaw Kwei & Partners has agreed to acquire a 75.6% stake in Singapore-listed oil and gas industry equipment supplier Gaylin for S$68 million ($50 million).
GIP to buy Equis renewable energy portfolio for $5b
Global Infrastructure Partners (GIP) has agreed to acquire 100% of Equis Energy, a project platform of 180 assets under private equity investor Equis Funds Group, for $5 billion. It is said to be the world’s largest renewable energy generation acquisition...
Samsung, Ant Financial back China's DeePhi Tech
Samsung Electronics and Ant Financial have jointly led a $40 million extended Series A round for DeePhi Tech, a Chinese artificial intelligence (AI) technology developer. China Merchants Venture Capital and China Growth Capital also took part.