Investments
Goldman leads $900m stapled secondary for Baring Asia
Baring Private Equity Asia (BPEA) has completed a stapled secondary of nearly USD 900m, which saw an investor consortium commit capital to its eighth fund and take out positions in two earlier vehicles.
CBC strikes China's first royalty-based biomedicine deal
R-Bridge Fund, a credit vehicle established by healthcare-focused private equity firm CBC Group, has completed what it claims is the first royalty-backed investment in China’s biomedicine space.
Liverpool Partners buys Australian fertility business
Australian healthcare player Healius has agreed to divest another asset to private equity, with the sale of its fertility business to Liverpool Partners for AUD 30.5m (USD 23m).
A91 leads $35m Series C for India beauty brand
A91 Partners has led a USD 35m Series C round for Plum, an India-based direct-to-consumer (D2C) personal care brand. Existing investors Unilever Ventures and Faering Capital also participated.
China enterprise AR specialist Rokid raises $160m
Rokid, a China-based company specialising in augmented reality (AR) technology applications, has raised USD 160m in Series C funding across two tranches.
India's Ofbusiness secures $200m round for lending unit
OfBusiness, an India-based B2B platform focused on industrial supply chain and procurement services, has raised USD 200m in Series A funding for its lending unit.
India's EverSource acquires local EV fleet operator
India’s EverSource Capital has acquired a majority stake in Lithium Urban Technologies, a local electric vehicle (EV) fleet and charging infrastructure operator, for an undisclosed sum.
China AI start-up Aibee joins unicorn club
China-based artificial intelligence start-up Aibee has achieved a valuation of more than USD 1bn on closing a new funding round led by smartphone brand Xiaomi and featuring China Merchants Capital.
EQT buys China pest control business
EQT Private Equity Asia has acquired majority stake in Guardian Hygiene Service, China’s largest domestic pest control company, for an undisclosed sum. It facilitates a full exit for Jade Invest.
Deal focus: Zeller makes its presence felt
Less than a year after launching its digital payments-led product suite, Australia-based Zeller has accumulated 11,000 merchant customers, raised over USD 100m, and achieved a USD 750m valuation
Leveraged finance: ESG sells
Private equity firms in Asia are increasingly willing to consider sustainability-linked credit facilities, and banks are generally happy to provide them. Speed is currently delaying standardisation
Deal focus: Bazaar, Zayn encapsulate Pakistan's breakout moment
Bazaar, a B2B logistics and financial services start-up, is putting Pakistan on the map for brand-name global VC investors for the first time. One of its key local backers, Zayn Capital, is doing the same
Deal focus: Medilink chases global ADC opportunity
The Medilink Therapeutics team spun out from Kelun-Biotech to develop antibody drug conjugates capable of competing with the world’s best. Its USD 70m Series B will support the pursuit of this goal
Trustar buys China condiments supplier
Trustar Capital, formerly known as CITIC Capital Partners, has acquired China-based food condiments supplier Beijing Salion Foods for an undisclosed sum.
Brookfield buys Australia non-bank lender for $1.1b
Brookfield Asset Management has agreed to acquire Australian non-bank lender and asset manager La Trobe Financial for about USD 1.1bn, facilitating an exit for The Blackstone Group.
China smart projector brand JMGO raises $158m
IDG Capital and Chinese smartphone brand Oppo have invested CNY 1bn (USD 158m) in JMGO, a local manufacturer of smart projection equipment developer JMGO that also goes by the name Holatek.
Japan mobile banking player Kyash gets $41m Series C
Altos Ventures, Goodwater Capital, Greyhound Capital, and StepStone Group are part of an investor group that has committed JPY 4.9bn (USD 41m) in Series D funding to Tokyo-based mobile banking start-up Kyash.
Index, Coatue lead $110m round for Australia's Linktree
Index Ventures and Coatue Management have led a USD 110m round for Linktree, an Australian social media platform that drives audience engagement, at a valuation of USD 1.3bn.
India media tech supplier Amagi secures $95m
Amagi, an India-based broadcasting industry technology provider that claims an audience of more than 2bn people, has raised a USD 95m round led by Accel Partners at a valuation of at least USD 1bn.
Livingbridge gets ESG-linked credit facility in Australia from Ares
Livingbridge has secured AUD 280m (USD 206m) in sustainability-linked credit facilities from Ares Management to support its acquisition of Australia-based waste management services provider Waste Services Group (WSG).
Genesis leads Series A extension for China's Nutshell Therapeutics
Nutshell Therapeutics, a China-based specialist in protein-focused drugs, has raised USD 40m in an extended Series A led by Genesis Capital.
India gaming, e-sports player Loco raises $43m
Indian game streaming and e-sports start-up Loco has raised INR 3.3bn (USD 43.3m) in Series A funding led by Korean blockchain specialist Hashed Ventures.
Baring Asia to merge with EQT
EQT has agreed a EUR 6.8bn (USD 7.5bn) acquisition of Baring Private Equity Asia (BPEA), having decided that organic expansion would unlikely deliver the Asia platform it desires to create a truly global business.
Lyfe, Qiming lead Series B for China ADC player Medilink
Suzhou Medilink Therapeutics, a Chinese biotech company specializing in antibody-drug conjugates (ADCs) commonly used as targeted therapies for treating cancer, has raised a USD 70m Series B led by Lyfe Capital and Qiming Venture Partners.