Investments
New Horizon pursues legal action over Japan's Sagami
Japanese GP New Horizon Capital has initiated legal action against Sagami, a domestic clothing retailer which it had targeted for acquisition. It claims the company accepted a weaker offer from rival PE bidder Aspirant Group.
IDG, Accel invest $3m in India's Bizongo
IDG Ventures has led a $3 million Series A round for Indian business-to-business packaging marketplace Bizongo, with participation by existing investor Accel Partners.
Quadrant-backed UPG acquires Australia's Rockpool
Quadrant Private Equity has taken control of Australian restaurant operator Rockpool Group via a bolt-on acquisition by existing portfolio company Urban Purveyor Group (UPG).
Alibaba, Legend invest $20m in China seafood importer Gfresh
Gfresh, a China-based seafood importer and online marketplace operator, has raised $20 million from Riverhill Fund, an investment arm of Alibaba Group, and Legend Capital.
China-backed PE firm buy Lattice Semiconductor for $1.3b
Canyon Bridge Capital Partners, a newly-formed US-based buyout firm backed by Chinese LPs, has agreed to acquire NASDAQ-listed chip maker Lattice Semiconductor for $1.3 billion.
Alibaba-backed Lazada buys Singapore's RedMart
Lazada, a Southeast Asia-based e-commerce platform founded by Germany's Rocket Internet and recently acquired by Chinese e-commerce giant Alibaba Group, has bought Singapore-based online grocer RedMart.
Deal focus: J-Star helps Asiro bring law online
Asiro came into being as a means of addressing the demand-supply imbalance in Japan's legal services industry. New owner J-Star will help the company expand its platform
Q&A: Shoreline Capital's Xiaolin Zhang
Xiaolin Zhang, co-founder and managing partner at China-focused distress specialist Shoreline Capital, discusses the NPL opportunity and what private equity firms must do to address it
Southeast Asia dating app raises $32.5m round
Paktor, a Southeast Asia-focused mobile dating app, has received $32.5 million in new funding led by K2 Global – a venture capital firm that makes late-stage tech investments in Asia and the US – and Indonesia-based MNC Media Group.
EQT buys Australian aerospace business
EQT Partners has agreed to pay Australian logistics conglomerate Brambles $130 million for its aviation industry services unit, Chep Aerospace Solutions.
Sequoia leads $55m round for India, US-based Freshdesk
Sequoia Capital has led a $55 million Series F round of funding for India and US-based customer support platform provider Freshdesk.
Blockchain: Ethereal frontiers
As blockchain segments mature in Asia, private equity and venture capital investors will benefit from a range of new entry points. Pitfalls related to the technology’s obscure nature, however, will persist
China short-term rental site Xiaozhu raises $65m
Chinese short-term rental site Xiaozhu.com has collected a total of $65 million across two tranches from a group of China-focused VC investors.
IDG, Promethus invest $30m in China’s KR Space
IDG Capital Partners and Prometheus Capital have invested RMB200 million ($30 million) in an extended Series A round of funding for KR Space, a provider of collaborative workspaces for Chinese start-ups
PE-backed Yum China gains on US debut after spin-out
Yum China, the private equity-backed group that operates KFC, Pizza Hut and Taco Bell in the country, gained 8% on its US trading debut after completing its separation from parent Yum Brands.
Warburg Pincus, 21Vianet to create China data center platform
Warburg Pincus has agreed to partner US-listed Chinese internet services provider 21Vianet on a joint venture focused on developing and acquiring data centers in China.
Advent buys China mattress maker from CITIC Capital
Advent International has acquired a majority stake in Chinese mattress maker King Koil Shanghai Sleep System from CITIC Capital Partners for an undisclosed sum.
J-Star owned insurer makes bolt-on acquisition
J-Star will take control of Japanese insurance provider Hunel FEA through a bolt-on acquisition by existing portfolio company Nihon Hoken Service.
J-Star acquires Japan’s Asiro
J-Star has acquired Japan’s Asiro, an online marketing platform provider for lawyers, for an undisclosed sum.
Jungle leads $11m Series A for Thailand's Pomelo
Jungle Ventures has led an $11 million Series A round of funding for Thailand-based online fashion retailer Pomelo.
China smart home device maker Orvibo raises $16m
Orvibo, a Shenzhen-based smart home device maker, has secured a RMB110 million ($16 million) Series B round of funding led by A-share listed electronics manufacturer Topband.
India's Ather Energy raises $31m for electric motorcycles
Indian motorcycle giant Hero MotoCorp will invest about INR2 billion ($31 million) in domestic VC-backed electric vehicle (EV) start-up Ather Energy.
Corporate carve-outs: Who's selling?
Certain markets in Asia represent a target-rich environment for corporate carve-outs, but private equity firms must be patient in waiting for deals to emerge
Sequoia leads $6m round for India's KredX
Sequoia Capital India has led a $6.3 million Series A round for Indian online financing marketplace KredX.