Investments
TPG, OTPP return with full buyout offer for Australia's Fairfax
TPG Capital and Ontario Teachers’ Pension Plan (OTTP) have revised their bid for Australia’s Fairfax Media to a full buyout that values the business at approximately A$2.75 billion ($2 billion).
IDG, DHFL invest $4m in India's EarlySalary
Indian financial technology platform EarlySalary has raised a $4 million funding round from IDG Ventures and Dewan Housing Finance (DHFL).
China retail: Engagement factors
Hillhouse Capital's efforts in using technology to support Kidswant may offer pointers regarding its plans for buyout target Belle International. But is it enough to turnaround the fortunes of one of China's largest retailers?
Qiming leads $17m round for China data storage software developer
Qiming Venture Partners has led a RMB120 million ($17 million) Series B round for XSKY Beijing Data Technology Corporation, a China-based data storage software services provider.
Local-led consortium pays $5.6b for Australia's Endeavour Energy
An Australian-led consortium that includes Macquarie and AMP Capital has agreed to pay A$7.6 billion ($5.6 billion) for a majority stake in Endeavour Energy, which owns and operates part of the New South Wales (NSW) electricity distribution network.
Maison leads round for Sino-Indonesia e-commerce site
China-focused GP Maison Capital has led a RMB150 million ($22 million) Series B round of funding for Wook, a cross-border B2B e-commerce platform that focuses on China and Indonesia markets.
Deal focus: Huochebang brings order to trucking chaos
Huochebang has raised $270 million in the last five months with a view to using its sharing economy solution to make China's trucking industry more efficient and less fragmented
China flexible display developer Royole raises $58m
Royole Corporation, a China-based flexible display technology developer, has received RMB400 million ($58 million) in Series D funding from a domestic GP Beijing Zhongtai Chuanghui Equity Investment Fund.
Endeavour United to buy Pizza Hut Japan
Endeavour United, a GP established by the team behind turnaround investor Phoenix Capital, has agreed to buy Pizza Hut Japan and Phoenix Foods from Mitsubishi Corporation-controlled KFC Holdings Japan.
Hong Kong's AID Partners buys Israel's GeneSort
Hong Kong-listed private equity firm AID Partners has acquired Israel-based molecular diagnostics company GeneSort for $23 million.
Pagoda leads Series A for China smart sensing player
China-focused VC firm Pagoda Investment has led a RMB110 million ($16 million) Series A round of funding for Hesai, a Shanghai-based company that develops smart sensing technology solutions.
Deal focus: WuXi NextCode eyes mass-market genomics
By acquiring NextCode Health in 2015, WuXi Pharmatech combined its gene sequencing capabilities with one of the world's largest genome datasets. PE investors are backing the business to sell genomic testing services to Chinese patients
CMB PE unit leads round for Shanghai pop group developer
Shanghai Star48 Culture & Media, a media agency that developed Chinese female pop group SNH48, has raised a Series C round of funding led by CMB International Capital, a private equity unit of China Merchants Bank.
Tencent backs US music app Smule in Asia push
Chinese internet giant Tencent Holdings has led a $54 million funding round for Smule, a US-based social media music company, to support its expansion in Asia.
BOCI leads Series C for Chinese online gold trading platform
An investment unit of Bank of China International (BOCI) has led a RMB200 million ($29 million) Series C round for G-banker, a Chinese online gold trading platform that has several venture capital backers.
CDIB Capital backs World Gym Taiwan
CDIB Capital, the PE arm of Taiwan's China Development Financial, has acquired a minority stake in World Gym Taiwan, the largest fitness center chain in Taiwan, alongside several co-investors. Financial terms were not disclosed.
Hewlett Packard Enterprise to launch Singapore incubator
Hewlett Packard Enterprise (HPE) will launch an incubator program in collaboration with Singapore’s Economic Development Board (EDB) as part of plans to invest $140 million in the city state over the next five years.
China serviced apartment operator gets $43m
Anxin Apartment, a China-based serviced apartment operator, has raised RMB300 million ($43 million) in a Series B round spread across two tranches.
IFC proposes $40m investment in India's Aavas Financiers
The International Finance Corporation (IFC) is considering an investment of up to $40 million in debt in Aavas Financiers, a housing finance business that Partners Group and Kedaara Capital bought last year from non-banking financial company (NBFC) Au...
Sequoia, Banyan lead $51m round for China's Xiaodian
Sequoia Capital China and Banyan Capital have led a RMB350 million ($51 million) Series B round of funding for Xiaodian, a Beijing-based power bank rental company.
Singapore's Garena rebrands as Sea, raises $550 million
Singapore-headquartered mobile internet and gaming platform Garena has rebranded as Sea and raised $550 million from a group of investors including existing backer Global Digital Prima (GDP) Venture of Indonesia.
TPG, OTPP pursue carve-up of Australia's Fairfax Media
TPG Capital and Ontario Teachers’ Pension Plan (OTTP) have submitted a buyout offer for Fairfax Media that would see them assume control of certain assets – including newspapers The Sydney Morning Herald, The Age and The Australian Financial Review –...
Tencent leads $34m round for VC-backed cloud player
Tencent Holding has led a RMB235 million ($34 million) funding round for Transwarp Technology, a Chinese big data technology developer backed by a string of venture capital investors.
China Creation leads $16m for credit evaluation specialist
China Creation Ventures, a VC firm recently launched by Wei Zhou, formerly a managing partner at KPCB China, has led a Series A round of funding worth RMB110 million ($16 million) for credit evaluation business IceKredit.