Investments
ShawKwei buys Australia beauty, healthcare company
ShawKwei & Partners has acquired Australia’s Rauxel, a beauty and healthcare industry supplier, for an undisclosed sum. It will be merged with existing portfolio company Icons Beauty Group.
Singapore parenting app raises $22m Series D
East Ventures has led a USD 22m round for Singapore’s Parentinc, which claims that its flagship brand, theAsianparent, is Southeast Asia’s largest parenting platform.
Japan's MPower backs pet devices maker
Japan’s MPower Partners, which was set up last year to make environmental, social, and governance (ESG) investments, has joined a USD 10.5m Series B round for local pet devices maker Rabo.
KKR buys minority stake in India's Shriram General Insurance
KKR has acquired a 9.99% stake in Shriram General Insurance, an Indian insurer backed by local conglomerate Shriram Group and African financial services group Sanlam, for an undisclosed sum.
ChrysCapital, GIC back $593m India asset management carve-out
ChrysCapital Partners and GIC have teamed up with Bandhan Financial Holdings – an Indian banking and financial services company – to acquire IDFC’s asset management business for INR 45bn (USD 593m).
Hosen closes $280m single asset continuation fund for Kilcoy
Hosen Capital, which makes investments in China’s consumer space, has closed a USD 280m single-asset continuation fund for Kilcoy Global Foods, a beef processing business it has owned since 2013.
China's METiS Pharmaceuticals raises $150m
METiS Pharmaceuticals, a Hangzhou-based drug formulation company has raised USD 150m through two funding rounds led by PICC Capital and China Life PE.
BGH continues fight for Australia's Virtus Health
BGH Capital is refusing to give up its pursuit of Australian fertility care business Virtus Health, tabling a revised buyout bid even after the company entered a binding agreement with CapVest Partners.
CPPIB leads $805m round for India's VerSe
Canada Pension Plan Investment Board (CPPIB) has led a USD 805m Series J round for India’s Verse Innovation, parent of media apps Dailyhunt and Josh. It is said to value the company at USD 5bn.
Deal focus: Nio Capital gets real with Nreal
Nio Capital invested in Nreal with a view to seeing the Chinese start-up’s augmented reality glasses feature in smart cockpits in next-generation cars. The company is now pushing for scale
Multiples leads $111m Series D for India NBFC
Multiples Private Equity has agreed to lead a INR 8.7bn (USD 111m) Series D round for India’s Kogta Financial, a non-bank financing company (NBFC) specialising in used vehicles and micro businesses.
Deal focus: India EV set for mass mobility boom
India’s EverSource Capital sees a fast track to auto industry electrification in the B2B fleet services of Lithium Urban Technologies. The company plans more than fivefold growth in the next few years
Carlyle sells Japan construction materials supplier to Lone Star
The Carlyle Group has sold Senqcia Corporation, a Japanese construction materials supplier formerly known as Hitachi Metals Techno, to Lone Star Funds for an undisclosed sum.
Bain buys minority stake in India's IIFL Wealth
Bain Capital has paid INR 33.8bn (USD 484m) for a 24.98% stake in India’s IIFL Wealth Management, taking out positions held by General Atlantic and Fairfax India Holdings.
Effissimo pledges to support Bain buyout of Toshiba
Bain Capital appears to be preparing a take-private bid for Toshiba Corporation, having secured the support of the company’s largest activist shareholder for a potential tender offer.
India's Games24x7 raises $75m, becomes unicorn
Malabar Investment has led a USD 75m funding round for Games 24x7, an India-based mobile games operator, at a valuation of USD 2.5bn.
China cybersecurity provider ThreatBook raises $47m
Beijing-based cybersecurity solutions provider ThreatBook has raised CNY 300m (USD 47m) in an extended Series E round led by CDH Investments, featuring existing investor Star Road Ventures.
China MSME financier raises $70m
Micro Connect, a China-based provider of financing to micro, small and medium-sized enterprises (MSMEs), has raised USD 70m in Series B funding.
Insight leads Series C for UK, India-based Builder.ai
Insight Partners has led a USD 100m Series C round for Builder.ai, a low-code/no-code app development platform that has a significant back-office presence in India.
Riverside backs Australia events software provider
The Riverside Company has invested an undisclosed sum in EventsAIR, an Australian events management software provider for in-person, virtual, and hybrid events.
CDH, Huaxing lead $120m Series B for China’s InnoRNA
CDH Investments and Huaxing Healthcare Fund have led a USD 120m Series B for InnoRNA, a China-based mRNA drug developer. Existing investors CPE and Fangyuan Capital re-upped.
China EV maker Eezi raises $78m
Shenzhen-based electronic vehicle (EV) manufacturer Eezi has raised a CNY 500m (USD 78m) pre-A round led by China Merchants Venture.
Paragon backs Indian caffeine-based personal care brand
Paragon Partners has led a INR 2.4bn (USD 31.7m) Series C round for mCaffeine, an India-based direct-to-consumer (D2C) personal care brand that specialises in caffeine-infused products.
GP profile: DCM
Investing in China, Japan, and the US out of a single global fund, DCM sticks to a formula of small funds, concentrated portfolios, early-stage deals, and collaborative cross-border teams