Investments
Primavera pursues China online education take-private
Primavera Capital Group has submitted a $33.3 million take-private bid for Liulishuo, a China-based operator of an English language learning app. The company's stock has struggled following a recent crackdown on online education platforms in China.
Affirma invests $77m in Korean steelmakers
Affirma Capital has acquired a majority stake in two steel manufacturing subsidiaries of Korea-based industrial conglomerate SeAH Group for $76.9 million.
India's BharatPe achieves $2.8b valuation on $370m Series E
Indian payments player BharatPe has raised $370 million in Series E funding led by Tiger Global Management. The $2.85 valuation means the company joins the country’s fast-growing collection of tech unicorns.
Japan's iSpace raises $46m Series C
Japan’s Incubate Fund has led a JPY5.1 billion ($46.5 million) Series C round for iSpace, a local lunar exploration technology developer firming up an ambitious calendar of missions.
China AI drug developer BioMap raises $100m
GGV Capital has led a $100 million Series A round for BioMap, a China-based biological computing platform. It marks the first time the company has sought external funding.
PE-backed Policybazaar, Nykaa file for India IPOs
Insurance portal PolicyBazaar and online-offline cosmetics retailer Nykaa are the latest PE-backed businesses to file for India IPOs in a groundswell domestic public market support for tech start-ups.
Accel-KKR buys majority stake in New Zealand's Unimarket
Accel-KKR, a PE firm created by Accel Partners and KKR, has acquired a majority stake in New Zealand’s Unimarket, a diversified procurement marketplace, for an undisclosed sum.
Activist target Japan Asia Group agrees asset sale to Carlyle
Japan Asia Group (JAG) has revived plans to sell stakes in two key subsidiaries to The Carlyle Group, six months after a similar transaction was abandoned in the face of opposition from activist investors. The deal is worth JPY58.5 billion ($534 million).
Coller spins out credit fund interests from Ping An subsidiary
A Coller Capital-led consortium has acquired interests in four global credit funds – worth a combined $680 million – from China Ping An Insurance’s overseas investment platform.
China autonomous driving start-up Inceptio raises $270m
Inceptio, a Chinese autonomous driving technology provider focusing on line-haul trucking, has raised a $270 million Series B round led by JD Logistics, Meituan, and PAG.
Tiger Global leads $125m Series D for India's Infra.market
Tiger Global Management has led a $125 million Series D round for Indian construction marketplace Infra.market at a valuation of $2.5 billion. The same investor led a $100 million Series C in February at a valuation of $1 billion.
Deal focus: ShareChat makes hay in TikTok’s absence
The Indian social networking platform has seen its valuation grow more than fourfold in the past year, helped in no small part by the rise of short video offering Moj as an alternative to TikTok
Deal focus: Chiratae sees 43x return on gaming start-up
India’s Chiratae Ventures has realized its largest-ever exit in terms of multiple with a zero-to-one leap of faith for local gaming studio PlaySimple
Deal focus: MyGlamm leverages brand awareness
The Indian direct-to-consumer beauty brand claims to stand out from the competition thanks to broad product coverage and a content-driven customer acquisition engine. Its Series C investors appear to agree
Asia digital assets platform Matrixport hits $1b valuation
Matrixport, a two-year-old crypto financial services platform based in Singapore, has closed a $100 million Series C round at a valuation of $1 billion.
GA, Dragoneer lead $250m Series B for Vietnam's VNLife
General Atlantic and Dragoneer Investment Group have led a $250 million Series B round for Vietnamese financial technology provider VNLife.
Ofbusiness becomes India's 18th unicorn of 2021
SoftBank Vision Fund 2 has led $160 million Series E funding round for OfBusiness, an India-based B2B platform focused on industrial supply chain and procurement services, at a valuation of $1.5 billion.
India education platform Unacademy raises $440m
India-based education platform Unacademy has closed a $440 million funding round – at a valuation of $3.44 billion – led by Temasek Holdings.
EQT pursues $2.2b Australia software take-private
Iress, an Australia-listed software developer that serves the financial services sector, has invited EQT to conduct further due diligence following receipt of a take-private offer worth up to A$3 billion ($2.2 billion).
CMC invests $93m in China liquor brand
Forty-Nine Union, a Chinese liquor brand, has raised a Series B round of RMB600 million ($93 million) from CMC Capital Group. There were no other participants in the round.
India crypto platform raises $25m Series A
Indian cryptocurrency borrowing and lending platform Vauld has raised a $25 million Series A round led by Valar Ventures, a firm co-founded by PayPal co-founder Peter Thiel.
Navis raises $900m for Fund VIII, closes Fund VI continuation
Navis Capital Partners has closed its eighth regional fund at $900 million, while also securing $450 million for a continuation vehicle that features five companies from its sixth fund.
Sequoia China leads $100m Series B for Bota Biosciences
Sequoia Capital China had led a $100 million Series B round for Bota Biosciences, a China-based biotech company that has developed a next-generation platform for manufacturing high-performing industrial compounds.
TDM, Sequoia lead Series F for Australia's Culture Amp
Culture Amp, an Australia-headquartered enterprise technology provider specializing in human resources (HR), has $100 million in Series F funding at a valuation of $1.5 billion.