Investments
Australia's Perpetual rejects improved BPEA EQT, Regal bid
BPEA EQT – formerly Baring Private Equity Asia – and Regal Partners have increased their offer for Australia-based asset manager Perpetual only for the target company’s board to reject them once again.
Japan-based microfinance player gets $47m Series E
Gojo & Company, a Japan-headquartered microfinance institution that operates across Sri Lanka, Myanmar, Cambodia, India, and Tajikistan, has raised USD 47.6m in Series E funding.
Investcorp leads $66m round for India dental chain
Investcorp has led a INR 5.45bn (USD 66.7m) investment in Global Dental Services (GDS), an India-based dental clinic chain that claims to be the largest business of its type in Asia and one of the top 15 globally.
Local investors pump $54m into China's Rokid
Rokid, a China-based company specialising in augmented reality (AR) technology, has raised CNY384m（USD53mn）across two tranches, largely from state-linked investors.
China AR start-up with celebrity founder raises $55m
Meituan investment unit Dragonball Capital has led a CNY 400m (USD 55m) angel round for Thin Red Line, a China-based start-up that provides operating systems for augmented reality (AR) glasses.
Carlyle pursues take-private of Japan's Totoku Electric
The board of Japan-based electric wire manufacturer Totoku Electric has endorsed a tender offer from The Carlyle Group that values the company at approximately JPY 38.2bn (USD 261m).
China to Singapore: A VC invasion
Chinese venture capital firms are establishing and expanding operations in Singapore in response to challenges at home and to address the Southeast Asian market. Do they have staying power?
China battery maker WeLion secures $207m Series D
Beijing WeLion New Energy Technology, a China-based manufacturer of lithium-ion batteries, has raised CNY 1.5bn (USD 207m) in Series D funding led by Chengtong State-Owned Enterprises Mixed Ownership Reform Fund.
Hong Kong vs Singapore: No zero-sum game
Pandemic-related restrictions have dented confidence in Hong Kong as a private equity hub, while Singapore is on a roll. But gains for one don’t necessarily translate into losses for the other
GEF Capital backs India EV components supplier Electra EV
GEF Capital Partners, a spinout from Global Environment Fund, has invested USD 25m in Electra EV, an India-based electric vehicle (EV) components manufacturer controlled by Ratan Tata.
Investors endorse 'long Chinese' thesis - AVCJ webinar
The shift from “long China” to “long Chinese,” which has gained traction as a soundbite as investors look to back local entrepreneurs in overseas markets, was highlighted once again during AVCJ’s China Private Markets Outlook webinar.
Singapore digital family office platform raises $90m
Arta Finance, a digital family office start-up established by Caesar Sengupta, the Singapore-based former head of Google’s Next Billion Users initiative, has raised USD 90m in Series A funding.
Altos, Mirae join $85m round for Korea sneaker trading platform
Kream, a Korea-based sneaker reselling business controlled by domestic internet giant Naver, has announced plans to raise KRW 170bn (USD 84m) from Altos Ventures, Mirae Asset, and its parent company.
Australia's Perpetual rejects $1.1b bid from BPEA EQT, Regal
Australia-based asset manager Perpetual has rejected a buyout offer from BPEA EQT – formerly Baring Private Equity Asia – and listed alternatives manager Regal Partners that values the company at approximately AUD 1.7bn (USD 1.07bn).
Quadrant spins Australia car services business into continuation fund
Quadrant Private Equity has closed a AUD 255m (USD 165m) single asset continuation fund for MotorOne, an Australia-based automotive after-market services provider it has owned since 2016.
China used goods platform Plum gets $100m Series C
Plum, a China-based online retailer specialising in second-hand apparel and accessories, has raised USD 100m series C funding led by Zhuanzhuan Group, another used goods marketplace.
Australia recycling start-up Samsara Eco raises $34m
Samsara Eco, an Australia-based start-up that has developed enzymes capable of breaking down plastics into their core molecules so they can be reconstituted in new items, has raised AUD 54m (USD 34.6m) in Series A funding.
Q&A: China Creation Ventures’ Wei Zhou
Wei Zhou, founder of China Creation Ventures (CCV), on why local GPs are targeting Southeast Asia, working with Chinese entrepreneurs overseas, and the prospects for renminbi and US dollar funds
Deal focus: Reap looks beyond Hong Kong
Having proved its business model and build up a customer base in Hong Kong, small business credit specialist Reap will use part of its USD 40m Series A round to pursue international expansion
Deal focus: NSSK builds out drugstore empire
NSSK found a rare succession-driven special situations deal in Japan’s prosperous healthcare space with pharmacy operator Kraft. It is the eight-year-old private equity firm’s largest deal to date
BII leads $25m round for India's Kinara Capital
British International Investment (BII), a UK development finance institution, has led a USD 25m equity funding round for Kinara Capital, an Indian non-banking financial company (NBFC) that lends to micro, small, and medium-sized enterprises (MSMEs).
Warburg Pincus, Malabar commit $60m to India wearables brand
Warburg Pincus and Malabar Investments have injected USD 60m into boAT, an India-based manufacturer of wearables and other electronic devices that was previously on track for an IPO.
TPG completes buyout of Australia's iNova Pharmaceuticals
TPG has completed its acquisition of a majority stake in Australia-based prescription medicines business iNova Pharmaceuticals, facilitating exits for Pacific Equity Partners (PEP) and The Carlyle Group.
Hong Kong payments player Reap gets $40m Series A
Hong Kong-based financial technology company Reap has raised a USD 40m Series A - comprising equity and debt - led by Acorn Pacific Ventures, Arcadia Funds, and HashKey Capital.
