Exits
Centurium backs China logistics player
Centurium Capital has invested $300 million in ANE Logistics, one of the largest LTL (Less-than-truckload) operators in China.
AVCJ Awards 2019: Exit of the Year - IPO: Innovent Biologics
Innovent Biologics has set a new standard for Chinese biotech, securing an innovative drug development tie-up with Eli Lilly and then completing a successful Hong Kong listing
China's Danke raises $130m in scaled back IPO
Chinese apartment rental platform Danke raised about $130 million in a smaller-than-expected US IPO that was primarily underwritten by existing private equity investors.
Asia PE fundraising falls 28% in 2019
Capital committed to Asia-focused private equity managers fell 28% year-on-year to $104.4 billion in 2019, largely due to a drop-off in activity in the pan-regional buyout and venture capital segments. Investments and exits were also down on the previous...
China's I-Mab falls on US debut after $104m IPO
China-based I-Mab Biopharma traded as much as 12% lower than initial pricing following the private equity-backed company’s $104 million IPO in the US.
AVCJ Awards 2019: Exit of the Year - Small Cap: Gong Cha
Unison Capital took a Korean game plan global with the Gong Cha bubble tea chain. Attention to local tastes, however, was the key to the enterprise
China Feihe gains drive Morgan Stanley's investment revenue
Projected carried interest payments from Morgan Stanley Private Equity Asia’s (MSPEA) investment in Chinese dairy products company China Feihe were largely responsible for a near fivefold increase in annual investment revenue for the parent bank.
Fajr Capital exits Brunei bank
Fajr Capital, a Dubai-based private equity firm that makes investments in the Middle East and Southeast Asia, has exited its position in Bank Islam Brunei Darussalam (BIBD).
French GP exits Singapore's JustCo with 8x return
France-based GP Tikehau Capital has exited its stake in Singapore workspace provider JustCo, achieving a net profit of S$27.7 million ($20.5 million) and an 8x return multiple.
Riverside exits Malaysian chemicals business
The Riverside Company has exited one of its few remaining Asia Pacific investments outside of Australia with the sale of Malaysia-based specialty chemicals distributor DCM Asia.
SoftBank Vision Fund invests $275m in India's Lenskart
SoftBank Vision Fund has led a Series G round of more than $275 million for Lenskart, an Indian omnichannel eyewear retailer, facilitating exits for several early investors.
Timeline: 2019 by numbers
A selection of the key fundraising, investment and exit events - presented in chronological order - from the past 12 months
Carlyle backs Chinese apartment operator Anxin
The Carlyle Group has acquired a significant minority stake in Anxin Apartment, a Chinese serviced apartment operator that specializes in affordable housing for corporate clients.
Delivery Hero to buy Korea's Woowa Brothers for $4b
Food delivery start-up Delivery Hero has agreed to acquire Korean peer Woowa Brothers in a deal that values the target at $4 billion and will facilitate exits for several private equity investors.
Reliance buys majority stake in India's NowFloats
Indian conglomerate Reliance Industries has agreed to buy an 85% stake in local enterprise IT provider NowFloats for INR1.4 billion ($20 million). It positions several VCs to exit.
China’s largest co-working player Ucommune files for US IPO
Ucommune, China’s largest co-working space player which is considered the local equivalent to troubled US operator WeWork, has filed for a US IPO.
Chinese drone maker EHang raises $40m in US IPO
Chinese drone manufacturer EHang traded flat on its NASDAQ debut following a $40 million IPO that priced at the bottom end of the indicative range.
2019 in review: Falling short
Fundraising, investment and exits in Asia are unlikely to match last year as pan-regional funds take a back seat, large-cap buyouts remain in short supply, growth-stage tech loses its edge, and IPOs flounder
Pemba's exit from Australian insurance broker falls through
Australian insurance broker network AUB Group has terminated its agreement to acquire Pemba Capital Partners’ 49% stake in Coverforce Holdings, a transaction that was opposed by the company’s founder.
PSP buys Australian almond orchards, water rights
Schroder Adveq has sold 12,000 hectares of almond orchards in Australia to Canada’s Public Sector Pension Investment Board (PSP) for an undisclosed sum. The pension plan has also agreed to pay Olam International A$490 million ($332.5 million) for permanent...
CVC set to exit Indonesia's Link Net
CVC Capital Partners is poised to complete its exit from Indonesia broadband and cable TV provider Link Net – in which it has been an investor since 2011 – through a trade sale to MNC Vision Network.
FountainVest, Primavera invest $557m in China pharmacy chain
FountainVest Partners and Primavera Capital have paid $557 million for a 24.78% stake in Chinese pharmacy chain Laobaixing. It will provide a full exit for EQT Partners.
China’s Genetron secures $50m Series D, seeks US IPO
Genetron Holdings, a precision oncology technology developer in China, has raised a $50 million Series D round and filed for a US IPO.
Chinese bitcoin player completes $90m IPO, endures bumpy debut
Chinese bitcoin mining equipment manufacturer Canaan experienced a volatile first day of trading on NASDAQ after raising $90 million in a smaller-than-expected IPO.
