The Carlyle Group has sold approximately one-quarter of its remaining 15.8% stake in SBI Cards & Payment Services – a year after the Indian company’s IPO – for INR39.4 billion ($543 million).
The Carlyle Group has completed a full exit from Japanese enterprise software developer WingArc1st via the company’s JPY19.4 billion ($179 million) IPO.
Openspace Ventures launched its $200 million third fund comfortable in the knowledge that the first two were top-quartile performers. IPOs, trade sales and partial secondary exits have all played a role
Canada’s Lightspeed POS, a global technology supplier for consumer-facing businesses, has agreed to buy New Zealand retail software player Vend for $350 million. It sets up several VC exits.
Energy Monster, China’s largest mobile device charging service provider by gross revenue, has filed for a US IPO.
Accel-KKR, a private equity firm created by Accel Partners and KKR, is set to exit New Zealand engineering software provider Seequent to a US strategic in a deal worth $1 billion.
Several Asian stock exchanges will consider allowing SPAC offerings, but implementation may run contrary to their regulatory ethos – and there is no guarantee of a strong market response
L Catterton Asia has raised $250 million for a special purpose acquisition company (SPAC) that will focus on high-growth consumer technology assets within the region.
BlackRock Private Equity Partners received proceeds of $936 million through a partial exit from Korean e-commerce business Coupang, which raised $4.55 billion in its US IPO. The stock gained 41% on debut.
Temasek Holdings-owned Azalea Asset Management plans to sell S$250 million ($186 million) worth of bonds – backed by LP interests in private equity funds – to retail investors in Singapore.
Australian mid-market private equity firm CPE Capital has agreed to sell Gourmet Food Holdings (GFH) – a local producer of crackers and biscuits – to US-based food multinational Mondelēz International.
Recent regulatory reforms suggest that China will not let the growth of large technology companies go unchecked. The implications could be far-reaching, not least for VC investors and start-ups
My Food Bag, a cook-your-own meal kit delivery service backed by Waterman Capital, has raised NZ$342.2 million ($245.5 million) in New Zealand’s largest IPO since 2014.
Jianwei Li, founding and managing partner of Chinese venture capital firm Zhencheng Capital and previously CIO at ZhenFund, has launched a special purpose acquisition company (SPAC).
SciClone Pharmaceuticals, a Chinese drug developer privatized by a PE consortium at a valuation of $605 million in 2017, has relisted in Hong Kong and ended its first day of trading with a market capitalization of HK$12.7 billion ($1.64 billion).
US-based Platinum Equity has exited its control position in Sensis, best known as the operator of Australia’s White Pages and Yellow Pages directories, in a deal worth $200 million.
Baring Private Equity Asia has agreed to sell the surgical devices business of Lumenis, an Israel-headquartered company that counts Asia as its largest market, to Boston Scientific for $1.07 billion in cash.
Rocket Lab, a US-based space technology company that operates primarily in New Zealand, as agreed to merge with a special purpose acquisition company (SPAC) at an enterprise valuation of $4.1 billion.
The global SPAC craze is percolating into Asia, with private equity firms among the sponsors. LPs aren’t necessarily comfortable with the development, but there’s only so much they can do about it
Tuya, a Chinese software platform for internet-of-things (IoT) systems that mainly offers platform-as-a-service (PaaS) products is pursuing a US IPO.
FountainVest Partners has agreed to acquire a majority stake in China-based CJ Rokin Logistics from Korea’s CJ Logistics for KRW733.8 billion ($661.3 million).
Everstone Capital has exited Indian bread brand Modern Foods to a local subsidiary of Grupo Bimbo, a global strategic headquartered in Mexico, for an undisclosed sum.
Appier, a Taiwan-based advertising technology provider, has filed for a JPY26.4 billion ($250 million) Japan IPO. It sets up exits for several VC investors, including Sequoia Capital.
MBK Partners has agreed to sell Apex International, China’s second-largest air freight forwarder, to Swiss logistics giant Kuehne + Nagel.