IPO
Waterman set for $140m windfall from My Food Bag IPO
New Zealand’s Waterman Capital will realize up to NZ$193.9 million ($140 million) through the IPO of My Food Bag, a home delivery service that provides customers with ingredients and recipes to cook their own meals.
Korean e-commerce player Coupang set for US listing
Coupang, a Korean e-commerce business that has secured approximately $3.5 billion in private funding over the past decade, has filed for an IPO in the US.
Deal focus: CPE backs MicroPort's medical devices agenda
CPE has backed a string of spinouts from Chinese medical device manufacturer MicroPort Medical. MicroPort CardioFlow Medtech’s Hong Kong IPO represents its first liquidity event
China's Cloopen, Adagene complete strong US IPOs
Cloud services provider Cloopen and biotech developer Adagene, both backed by Sequoia Capital China, have raised a combined $460 million in their US IPOs.
China robotics: Automation nation
China is a global leader in robot manufacturing, but only in areas characterized by high volumes and low technology value. Can more start-ups climb from medium-tech to hard-tech?
China's Kuaishou surges on debut after $5.4b Hong Kong IPO
Kuaishou, a Chinese video-sharing and social networking platform backed by Tencent Holdings, 5Y Capital and DST Global, started trading at nearly three times its IPO price following a Hong Kong IPO that valued the company at HK$1.1 trillion ($142 billion).
Ravi Thakran's SPAC plans merger with aviation business
A special purpose acquisition company (SPAC) launched by Ravi Thakran, formerly head of L Catterton’s Asia operation, plans to merge with Wheels Up – a US-based aviation business described as Uber for private jets – at a valuation of $2.1 billion.
AVCJ Awards 2020: Exit of the Year - IPO: SBI Card
The Carlyle Group helps SBI Card win its place in the ongoing rise of digital India before realizing a landmark domestic IPO. Coordination with State Bank of India has been crucial
Sideline SPACs: Competing priorities?
Ties between private equity firms and special purpose acquisition companies are not uniform – some are direct relationships, while others involve certain individuals. But proliferation is likely to attract more LP scrutiny
PE-owned Aadhar Housing Finance files for India IPO
Aadhar Housing Finance, an Indian affordable housing lender acquired by The Blackstone Group in 2019, is looking to raise up to INR73 billion ($1 billion) through a domestic IPO.
Hopu founder backs China healthcare-focused SPAC
Fenglei Fang, founder and chairman of Chinese private equity firm Hopu Investments, is looking to raise $300 million for a special purpose acquisition company (SPAC) that will target healthcare companies with a China focus or expansion prospects in the...
AVCJ Awards 2020: Exit of the Year - Small Cap: China Feihe
The secret to Morgan Stanley Private Equity Asia’s 148x return on dairy producer China Feihe was having faith both in the baby care industry and in a quality domestic brand
Asia PE investment ends 2020 on a tear
A fourth-quarter surge in growth-stage deal-making took Asia private equity investment to $198.5 billion in 2020, comfortably surpassing the previous year’s total despite the strictures of COVID-19.
Chinese-owned gaming business completes $1.9b IPO
Playtika, an Israel-headquartered social and mobile games company that was acquired by a PE-backed Chinese consortium in 2016, gained 17% on its US trading debut following a $1.88 billion IPO.
Olympus-sponsored SPAC raises $130m
Olympus Capital has raised $130 million for a special purpose acquisition company (SPAC), which it is sponsoring via its fifth pan-Asian fund.
AVCJ Awards 2020: Firm of the Year - Large Cap: Warburg Pincus
Whether it is building a logistics platform, backing a take-private or anchoring a growth round for a tech start-up, Warburg Pincus prioritizes local partnerships in Asia
Ascendent founder sponsors SPAC targeting global deals
A special purpose acquisition company (SPAC) sponsored by Liang Meng, founding managing partner of China’s Ascendent Capital Partners, has raised $300 million for global consumer technology investments.
Singapore bourse to consider SPAC listings
The Singapore Exchange (SGX) will consider allowing listings by special purpose acquisition companies (SPACs) on the back of a spike in fundraising activity for these structures in the US.
China's Primavera launches consumer-focused SPAC
Primavera Capital Group has joined the trickle of Asia-based private equity investors launching special purpose acquisition companies (SPACs) in the US, targeting a $300 million capital raise for consumer deals.
Thiel, Pacific Century launch second Southeast Asia SPAC
Peter Thiel (pictured), co-founder of PayPal, Palantir Technologies and Founders Fund, and Richard Li, son of Hong Kong billionaire Li Ka-shing, are launching another special purpose acquisition vehicle (SPAC) that will target new economy assets in Southeast...
VC-backed Chinese e-cigarette company targets US IPO
Relx Technology, a Chinese e-cigarette producer backed by Source Code Capital and Sequoia Capital China, has filed for an IPO in the US.
PE-backed WealthNavi soars on Tokyo debut
Japanese financial technology start-up WealthNavi gained 100% on its trading debut following a JPY17.9 billion ($172.9 million) IPO that facilitated partial exits for Gree Ventures, Infinity Venture Partners, and Global Brain.
2020 in review: Surprise guest
The coronavirus pandemic has played havoc with Asian private equity, contributing to a resurgence in IPOs, increased bifurcation in fundraising, a rush for healthcare, and a generally staggered revival
PE-backed Pop Mart posts strong gain after $674m HK IPO
Pop Mart International Group, China’s largest fashion toy retailer, gained 79% on its Hong Kong trading debut following a HK$5.22 billion ($674 million) IPO.