Investments
AVCJ Awards 2021: Operational Value Add: Best & Less Group
Allegro Funds plucked Australian baby and kids retailer Best & Less from its underperforming parent and defied pandemic-related uncertainty to complete a turnaround that culminated in an IPO
AVCJ Awards 2021: Deal of the Year – Large Cap: China Biologic
For Centurium Capital, China Biologic was no ordinary take-private. It was the culmination of a multi-year effort to tighten the company’s shareholding structure and root out management inefficiencies
Deal focus: Tapping a soft spot for Asian VCs
Investment professionals in Asia know on a personal level exactly what education technology provider Cialfo is doing and why the service is a big help. Now they’re taking it to the next level
L Catterton backs China pet food brand
L Catterton, a private equity firm specialising in consumer sector investments, has committed an undisclosed sum to Shanghai Enova Pet Products, owner of Chinese premium pet food brand Pure & Natural.
China’s Fenbeitong raises $140m
Chinese enterprise payment and expense management software provider Fenbeitong has raised USD 140m at a valuation of at least USD 1bn in an extended Series C round led by DST Global.
ADIA leads $210m Series E for India's DealShare
Abu Dhabi Investment Authority (ADIA) has contributed USD 45m to a USD 210m Series E round for Indian social e-commerce start-up DealShare at a valuation of USD 1.7bn.
Southeast Asia cosmetics brand Y.O.U raises $40m
Hidden Hill Capital - a private equity firm established by warehouse operator GLP - has led a USD 40m Series C round for Southeast Asian cosmetics brand Y.O.U.
Apax backs China tax SaaS player Yunzhangfang
Yunzhangfang, a China-based software-as-a-service (SaaS) provider specialising in corporate tax and financial management, has raised close to USD 100m in Series E funding from Apax Partners.
India's Uniphore raises $400m Series E
New Enterprise Associates (NEA) has led a USD 400m Series E round for Uniphore, an India and US-based artificial intelligence (AI) technology developer focused on speech recognition.
Vision Fund leads $144m round for Singapore lending platform
SoftBank Vision Fund 2 has led a USD 144m equity round for Singapore small business lending platform Funding Societies.
Silver Lake wins approval for New Zealand rugby deal
Silver Lake has won approval for a NZD 200m (USD 134m) investment in the commercial arm of New Zealand rugby, reflecting a recent upswing in global private equity involvement in sport in Asia.
New Zealand's Soul Machines raises $70m
SoftBank Vision Fund 2 has led a USD 70m round for New Zealand-based Soul Machines, which specialises in creating lifelike digital employees for customer engagement.
SE Asia commerce finance platform Akulaku gets $100m
Akulaku, an Indonesia-based digital finance platform backed by the likes of Qiming Venture Partners and Sequoia Capital India, has received a USD 100m investment from Thailand’s Siam Commercial Bank (SCB).
China truck smart devices manufacturer raises $200m
G7 Networks, a Chinese company that uses smart devices to track cargo trucks, has raised a USD 200m round led by Trustbridge Partners, and State Development & Investment Corporation (SDIC). Several existing investors re-upped.
Blackstone buys majority stake in Indian wealth manager
The Blackstone Group has acquired a majority stake in Indian wealth manager Ask Investment Managers, taking out positions held by Advent International and other investors.
Vision Fund leads Series D for China’s Sobot
SoftBank Vision Fund 2 has led a USD 100m Series D round for Sobot, a China-based customer service software provider. Other investors include GL Ventures, Yunqi Partners, and Mirae Asset Financial Group.
US GP invests $30m in Australia's Protecht
US venture capital and private equity firm Arrowroot Capital has invested AUD 42m (USD 30m) in Australian enterprise risk management software and services provider Protecht Group.
Singapore's Next Gen Foods raises $100m Series A
Singapore-based Next Gen Foods, maker of vegetarian chicken brand Tindle, has raised a USD 100m Series A round featuring GGV Capital and Temasek Holdings’ Asia Sustainable Foods Platform.
Deal focus: Proterra’s alternative take on incubation
Early-stage bets on oat milk and healthy beverages in Asia by Proterra Investment Partners reflect a willingness to back nascent brands, but in doing so, the firm believes it is dialling down the risk
Deal focus: Indonesia’s fintech plumber
Brick is developing backend digital infrastructure so that financial technology start-ups in Southeast Asia can provide seamless services. Priorities include deepening functionality and geographic expansion
AVCJ Awards 2021: Deal of the Year – Small Cap: Ajaib
Having spent more than a year perfecting its product, Ajaib turned Indonesia’s brokerage industry on its head in six months. Emphasis on product and customer engagement have paid dividends
AVCJ Awards 2021: Firm of the Year – Large Cap: Baring Private Equity Asia
Baring Private Equity Asia claims that a thematic approach to origination and flexibility on deal structure allow it to pursue opportunities with greater conviction in a high-valuation environment
SoftBank leads Series A for China cashier-less vendor
SoftBank Ventures Asia (SBVA) has led a CNY 300m (USD 47m) Series A for Feng1, a China-based cashier-less vendor start-up. CICC Capital and Shenzhen Capital Group also participated.
Korea's Shinsegae raises another $251m for e-commerce platform
SSG.com, the e-commerce platform of South Korean retailer Shinsegae Group, raised an additional KRW 300bn (USD 251m) from existing backers Affinity Equity Partners and BRV Capital Management.