Investments
VC-backed Indian game developer bought by Swedish strategic
Indian game studio PlaySimple has been acquired for about $360 million by Sweden’s Modern Times Group (MTG), setting up exits for Elevation Capital and Chiratae Ventures.
Mekong backs Vietnam cosmetics retailer
Mekong Capital has invested in HSV Group, Vietnam’s largest cosmetics retailer with a network of 105 self-operated stores.
Deal focus: Indian cartoons poised for proliferation
NewQuest Capital’s acquisition of Cosmos-Maya from KKR-backed Emerald Media punctuates a crystallizing opportunity set in Indian animation. The next step is going global
Deal focus: LocoNav targets gap in fleet digitization
The rapidly modernizing fleet management industry has seen surprisingly little progress in terms of driver and dispatcher services. Global VCs see a solution in India’s LocoNav
China beauty: Traffic jam
The impact of China’s internet-oriented emerging consumer brands is arguably more pronounced in beauty than anywhere else. Gaining a foothold is one challenge, keeping it is another
Warburg Pincus targets China distressed real estate
Warburg Pincus is entering the distressed real estate space in China through a $600 million partnership with Wensheng, a local special situations manager.
Longreach buys pulp and paper industry supplier from Navis
The Longreach Group has acquired a majority interest in Amazon Papyrus Chemicals Holdings, a Hong Kong-headquartered chemical solutions provider to the pulp and paper industry, from Navis Capital Partners.
Temasek, Multiples lead $192m Series F for India's Licious
Temasek Holdings and Multiples Alternate Asset Management have led a $192 million Series F funding round for Licious, an India-based online retailer specializing in fresh meat and seafood.
Indian online gaming business Winzo raises $65m
Winzo, and Indian gaming platform focused on online pool, rummy, poker, and fantasy sports has raised a $65 million Series C round led by US-based Griffin Gaming Partners.
Hong Kong NFT player adds $50m to funding round
Hong Kong’s Animoca Brands, a gaming company focused on blockchain-based non-fungible tokens (NFTs), has raised $50 million from a group including Gobi Partners and a VC unit of Samsung.
Faering leads $200m round for India's Digit Insurance
Indian private equity firm Faering Capital has led a $200 million round for local insurance company Digit Insurance at a valuation of $3.5 billion.
Australia institutional investors buy 49% in Telstra's towers unit
Future Fund, Commonwealth Superannuation Corporation, and Sunsuper have agreed to buy a 49% interest in Telstra’s Australian mobile tower network at a valuation of A$5.9 billion ($4.4 billion).
Pacific Century's insurtech business closes $180m Series A
Bolttech, a one-year-old company controlled by Pacific Century Group, has raised $180 million at a valuation of $1 billion. It is being called the largest-ever Series A round in insurance technology.
Australian rocket developer gets $45m Series C
Australian rocket developer Gilmour Space Technologies has raised a A$61 million ($45 million) Series C round featuring local investors Blackbird Ventures and Main Sequence Ventures.
Partners Group backs China's Apex Logistics
Partners Group has acquired a 24.9% stake in China’s Apex Logistics from its majority owner Kuehne+Nagel for an undisclosed sum as part of an expansion plan.
Carlyle leads restructuring of Trans Maldivian Airways
The Carlyle Group’s credit platform has led a restructuring of Trans Maldivian Airways (TMA), a Bain Capital-owned seaplane operator whose fortunes are tied to those of the Maldives tourism industry.
Quadria backs India drug maker Encube Ethicals
A consortium led by healthcare-focused Quadria Capital has invested in Indian topical drugs maker Encube Ethicals, facilitating an exit for Multiples Alternate Asset Management.
Investcorp backs Hong Kong's Heritage Foods
Investcorp has made an investment of undisclosed size in Hong Kong-based Heritage Foods, which has a portfolio of condiment and sauce brands in Singapore, Malaysia, and Japan.
India auto software provider LocoNav raises $37m
LocoNav, an Indian vehicle fleet software provider, has raised $37 million in Series B funding from a group of investors including Sequoia Capital India.
NewQuest buys Cosmos-Maya from KKR's Emerald Media
Direct secondaries specialist NewQuest Capital has acquired Indian animation studio Cosmos-Maya from Emerald Media, an Asian media platform backed by KKR.
Deal focus: Carro prioritizes car financing as ecosystem enabler
Southeast Asia’s Carro has achieved critical mass as a used car trading platform, but the start-up regards financial services as the key growth area. It is now backed by SoftBank Vision Fund’s considerable heft
Deal focus: TR Capital doubles down on China tech
Secondaries specialist TR Capital has established a base in Shenzhen with a view to sourcing more deals in China’s red-hot technology sector. Online used car trading platform Bochewang is the latest example
China: A controversial ESOP
An employee stock ownership plan introduced alongside Hillhouse Capital’s 2019 investment in Gree Electric Appliances has raised questions about enrichment and alignment
China industrial robotics start-up raises $61m
Youshan Capital and China Merchants Capital have led a RMB395 million ($61 million) Series B round for Han's Robot, a China-based manufacturer of industrial robots.