Exits
KKR explores sale of Australia's MYOB to ANZ
Australia and New Zealand Banking Group (ANZ) has confirmed it is in negotiations with KKR over the potential acquisition of Australia-based accounting software provider MYOB.
2Q analysis: Substituting China?
India and Southeast Asia come to the fore as China demonstrates weakness in both growth-stage investment and fundraising; exits continue to struggle amid reluctance from strategic buyers
Southeast Asia tech: Resilient with an asterisk
Southeast Asia’s booming tech space no longer lends itself to an easy narrative. As start-up fever cools globally, the region charges forward. Cracks are beginning to show but so are counterintuitive bright spots
India fintech player Cred closes $140m Series F
Cred, an India-based credit card rewards provider, has closed a USD 140m Series F round that includes a secondary component intended to facilitate exits for existing investors.
Korea's Kakao considers partial divestment of mobility spin-out
South Korean internet giant Kakao has indicated it may sell around 10% of Kakao Mobility, its transportation division, which has several private equity backers.
Quadrant exits Australia underwear brand to Swedish strategic
Quadrant Private Equity has exited Australian hygiene apparel brand Modibodi to Swedish strategic Essity for AUD 140m (USD 96m).
Navis exits Hong Kong's Texon to global strategic
Navis Capital Partners has exited its entire controlling position in Hong Kong footwear components supplier Texon to UK-listed Coats Group for an enterprise value of USD 237m.
Deal focus: India’s Shubham sees opening to accelerate
Shubham believes its long-curated datasets and institutional memory differentiate it from a growing pack of low-income housing lenders. Global impact investors appear convinced
Deal focus: CDH plays Asia wellness card
CDH Investments turned The Better Health Company from a New Zealand-only player into a brand with regional recognition. COVID-19 proved a minor obstacle to an ultimately successful trade sale
Baring Asia exits Cath Kidston to UK turnaround investor
Baring Private Equity Asia (BPEA) has exited Cath Kidston, a UK lifestyle retailer that underwent a restructuring during the initial phase of COVID-19, to turnaround investor Hilco Capital.
India affordable housing player raises $112m
Indian lower-income mortgage lender Shubham has raised USD 112m led by British International Investment (BII). It facilitates exits for Elevar Equity and Motilal Oswal Private Equity (MOPE).
CDH exits New Zealand supplements brand to Nestle
CDH Investments has agreed to sell New Zealand-based supplements manufacturer The Better Health Company (TBHC) to Nestlé Health Science for an undisclosed sum.
China biotech: End of the boom
PE investment in China biotech has collapsed amid failed IPO processes and disputed valuations. Pockets of activity remain, though questions around commercialisation have yet to be answered
India's Pine Labs buys VC-backed Setu
Indian financial technology company Pine Labs, which has raised more than USD 1.5bn in private funding, has acquired VC-backed counterpart Setu.
India's Zomato buys PE-backed Blinkit for $567m
India-based online food services platform Zomato has agreed to acquire Blinkit – a private equity-backed quick commerce start-up formerly known as Grofers – for INR 44.5bn (USD 567m).
PE-backed Gogox sinks on debut after $98m Hong Kong IPO
Gogox, a last-mile logistics company formed through the merger of Hong Kong's GoGoVan and an affiliate of mainland China-based 58.com, fell 22% on its Hong Kong trading debut following a HKD 771.4 (USD 98.3m) IPO.
PAG's Hong Kong IPO on hold amid weak market
Asia-focused private equity firm PAG has put its Hong Kong IPO on hold, three sources familiar with the situation told Mergermarket, AVCJ’s sister title.
Circle buys VC-backed Taiwan crypto infrastructure platform
Cybavo, a Taiwan-based crypto technology player that provides platforms for digital asset custody and blockchain application development, has agreed to be acquired by US digital currency specialist Circle for an undisclosed sum.
SPAC backed by Vision Knight founder makes Hong Kong debut
A special purpose acquisition company (SPAC) sponsored by David Wei, founder of Vision Knight Capital, has become the second structure of its kind to list in Hong Kong.
Q&A: Jungle Ventures’ Amit Anand
Singapore’s Jungle Ventures has closed its fourth early-stage tech fund on USD 600m, shattering an initial target of USD 350m. Amit Anand, a founding partner at the firm, unpacks the achievement
China secondaries: Liquidity play
Under pressure to generate returns amid a challenging fundraising environment, Chinese GPs are beginning to revise pricing expectations to get traction with continuation funds
India's Gupshup acquires VC-backed OneDirect
India-based B2C messaging services provider Gupshup has acquired OneDirect, a local customer service platform that previously received several rounds of funding from Sequoia Capital India.
Singapore's VC-backed One Animation acquired by UK strategic
One Animation, a VC-backed, Singapore-based cartoon studio, has been acquired by Moonbug Entertainment of the UK for an undisclosed sum.
India's Delhivery completes $674m IPO
Indian e-commerce logistics provider Delhivery raised INR 52.4bn (USD 674m) in a domestic IPO but was unable to sustain first-day price gains with the stock sliding towards the offering price by May 26.