Investments
India embraces e-payment
With established market leaders in India’s mainstream e-payment space, VCs are targeting opportunities in the unbanked and mobile payment markets
Morgan Stanley invests $210m in Continuum Wind Energy
Morgan Stanley Infrastructure Partners has agreed to buy a majority stake in Continuum Wind Energy for INR12 billion ($210 million). The Singapore-based company, which was set up Essar Group executive Vikas Saraf and investment banker Arvind Bansal, runs...
Billabong poised for takeover as share price tumbles
Australian surfwear retailer Billabong International saw its stock slump 36% when it resumed trading on Monday following a heavily discounted $225 million rights issue. The company is now worth less than one third of the value of TPG Capital’s A$841...
Baring increases its stake in Manappuram Finance to 5.94%
Baring India Private Equity has increased its stake in Manappuram Finance, a non-bank financial company (NBFC) specializing in loans based on gold.
ICICI Venture in second attempt to offload Updater Services
Indian investor ICICI Venture is attempting to exit its stake in Indian facilities management company Updater Services for the second time.
Milestone backs China restaurant chain IPO
Milestone Capital Partners has agreed to become a cornerstone investor in Chinese restaurant chain Xiao Nan Guo’s Hong Kong IPO. The company is looking to sell 341.25 million shares at HK$1.50 to raise HK$511.5 million ($65.9 million). A Milestone subsidiary...
Carlyle seeks $1.9b Coates Hire refinancing
The Carlyle Group is in negotiations with banks to refinance the A$1.9 billion ($1.9 billion) in leverage used to purchase Australian equipment hire company Coates Hire.
MBK named preferred bidder for Korea’s Hi-Mart
MBK Partners has been chosen as the preferred bidder for South Korean electronics retailer Hi-Mart. The company said in a statement to the Korean Stock Exchange that its largest shareholder, Eugene Corp, had made the decision.
KKR puts Bis Industries on the block
KKR has put its mining services and logistics business Bis Industries on the block. The Australian company has been valued at around $1.8 billion including debt.
IFC, Proparco, Mount Kellet invest in Educomp
Educomp Solutions, India’s largest education company, has received $155 million in financing from International Finance Corporation, French development finance institution Proparco, PE firm Mount Kellett and the company's own promoters.
Asiasons buys Australian pre-school show from CVC's Nine
Southeast Asian private equity firm Asiasons Group has acquired Australian pre-school television show Hi-5 from Nine Network Australia and Southern Star Entertainment. Nine Network is owned by the debt-laden Nine Entertainment Group, which is backed by...
Australian businesses don’t trust PE – PwC survey
Only 5% of small- to medium-sized enterprises (SMEs) in Australia that are currently seeking funding would consider private equity as a source of capital, according to a survey published by PricewaterhouseCoopers (PwC).
AVCJ China Awards: VC Deal of the Year – Dianping.com
As China’s leading restaurant reviews website, Dianping.com has developed a business model that is difficult for others to replicate. VC backers TrustBridge, Lightspeed, Sequoia and Qiming don’t expect this to change
AVCJ China Awards: PE Exit of the Year – Beijing Leader & Harvest
Much is made of the commercial implications of China’s clean energy drive. The government has pledged to reduce carbon dioxide emissions and energy intensity, promote industrial efficiency and minimize industrial pollution, protect forests, curb motor...
Unitas in timely bet on Korea’s outdoor market
As in most proprietary deals, timing was everything when it came to Unitas’ most recent investment. By fortuitous coincidence, the Asia-focused private equity firm approached Korean outdoor apparel and equipment manufacturer NEPA at the very moment...
VC players back $45m PubMatic mezz round
It is no exaggeration to say that real-time bidding (RBT) is transforming online display advertising. For years, customers bid for slots in bulk, paying a flat rate for each one; there was no way to improve cost efficiency by bidding for particular opportunities.
Growth capital mezzanine: The third way
Growth capital mezzanine players are still few in number in Asia. Will struggling equity markets and tighter credit conditions open up the market for these alternative capital providers?
Jacob Ballas supports Indian diagnostics chain
The $40 billion Indian healthcare market is growing rapidly and has seen numerous PE investments into hospital chains and pharmaceutical companies. However, the country’s diagnostic expertise and infrastructure still lag behind.
Rise of the China PIPE deal
It has taken Indian fund managers years to convince their LPs of the merits of PIPE deals, and efforts haven’t been wholly successful. The knee-jerk response, “Why should I pay you fees to invest in companies that I could just invest in myself?”...
CVC offloads $500m Formula One stake to Waddell & Reed
CVC Capital Partners has sold a $500 million stake in Formula One Group to Waddell & Reed. The move comes after the motor-sport franchise delayed its $3 billion Singapore IPO due to volatile market conditions.
KKR funds $22m Air Works bolt-on
KKR has provided Air Works India Engineering with INR1.2 billion ($22 million) of structured debt financing to help fund its acquisition of Dubai-based private aviation specialist Empire Aviation Group (EAG).
CVC leads investment in HK-listed Chinese shoe company
CVC Capital Partners has led a PIPE investment in Chinese footwear company C.banner. China Consumer Capital Partners and MouseeDragon also participated in the round.
Hopu sells 6% stake in Chinese dairy firm Mengniu
Hopu Investment Management has sold its 6% stake in Hong Kong-listed Chinese daiy company China Mengniu Dairy for DKK1.7 billion ($289 million) to Denmark's Arla Foods.
OneVentures backs Paloma Mobile with $1.5m
Australia-focused venture capital firm OneVentures has led a $1.5 million Series A round of funding for Paloma Mobile, a developer of smartphone services for emerging markets.