Exits
MBK exits China's Apex International
MBK Partners has agreed to sell Apex International, China’s second-largest air freight forwarder, to Swiss logistics giant Kuehne + Nagel.
B Capital launches SPAC
B Capital Group, a US-based venture capital firm with a presence in Singapore and a significant Asia portfolio, is looking to raise $300 million for a special purpose acquisition company (SPAC).
China cancer screening business gains on Hong Kong debut
New Horizon Health, a China-based and venture capital-backed cancer early screening company, rose 215% on its trading debut following a HK$2 billion ($258 million) Hong Kong IPO.
China's CITIC sells US dental business
CITIC Capital Partners has exited US-based dental business DDS Lab – the private equity firm’s first acquisition in the US as a lead investor – to RoundTable Healthcare Partners for an undisclosed sum.
PE-backed JD Logistics set for Hong Kong listing
JD Logistics, a supply chain solutions and logistics provider that spun-out from Chinese online retailer JD.com, has filed for a Hong Kong IPO. The company has received $2.57 billion in private funding.
Bharti Airtel to buy back stake in DTH business from Warburg Pincus
Warburg Pincus has agreed to exit its stake in Bharti Telemedia, the direct-to-home (DTH) satellite television services arm of Indian telecom services provider Bharti Airtel, through a share buyback worth INR31.3 billion ($429.5 million) in cash and shares.
China teahouse chain Nayuki pursues Hong Kong IPO
Nayuki, a private equity-backed Chinese teahouse chain also known as Naixuecha, has filed for a Hong Kong IPO. It comes on the heels of a $100 million Series C round.
PE-backed Arohan Financial Services files for India IPO
Arohan Financial Services, an Indian microfinance institution (MFI) that was acquired by Aavishkaar Group in 2012 and went on to receive funding from several other PE investors, has filed for a domestic 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.
Deal focus: Potentia exits Ascender, closes debut fund
Potentia Capital's debut fundraise was given extra impetus by an impending exit from Australia-based software provider Ascender, which delivered a 30x return
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.
New Frontier to privatize US-listed China hospital business
The New Frontier Group-led consortium that acquired Chinese hospital operator United Family Healthcare (UFH) through a special purpose acquisition company (SPAC) in 2019 is now looking to take the US-listed business private at a valuation of around $1.6...
Match buys VC-backed Korean social platform for $1.7b
Hyperconnect, a Korean social media platform backed by Altos Ventures and SoftBank Ventures Korea, has agreed to an acquisition by online dating giant Match Group for $1.73 billion in cash and stock.
Advent buys majority stake in India's ZCL, MSPEA exits
Advent International has agreed to acquire Indian pharmaceuticals supplier ZCL Chemicals, setting up a minority exit for Morgan Stanley Private Equity Asia (MSPEA).
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).
CDH exits Singapore equipment rental business
Japanese conglomerate Sumitomo Corporation has acquired Singapore-based construction equipment rental business Aver Asia, facilitating a full exit for CDH Investments.
AVCJ Awards 2020: Exit of the Year - Large Cap: Velocity Frequent Flyer
Building a core competence in data analytics and a broader array of loyalty options underpinned Affinity Equity Partners’ 3.6x return on Velocity Frequent Flyer
India's Moonfrog Labs acquired by Swedish gaming studio
Swedish free-to-play gaming studio Stillfront has agreed to acquire 100% of Indian mobile games developer Moonfrog Labs, setting up exits for Tiger Global Management and Sequoia Capital India.
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.
US strategic to buy PE-backed Australia payroll business
Ceridian, a US-based human resources technology provider has agreed to acquire Australian payroll software specialist Ascender, setting up exits for Potentia Capital and Five V Capital.
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
