Funds
FountainVest poised for first close on latest China fund
FountainVest Partners has set a target of $2.8 billion for its fourth China-focused fund, with a first close of more than $1 billion expected as soon as this week.
Asia fundraising: Be prepared
LPs are becoming more flexible in their due diligence, in certain cases backing managers where there has been no face-to-face interaction, but COVID-19 has underlined the importance of pre-fundraise engagement
Japan's Drone Fund secures anchor LPs for third vintage
Japan’s Drone Fund has reached a first close of undisclosed size on its third VC fund, with SMBC Nikko Securities and NTT Docomo coming in as anchor LPs. The target is JPY10 billion ($95 million).
Japan's aStart launches second dedicated space tech fund
Japanese VC investor aStart has raised JPY3.8 billion ($36 million) for its second fund dedicated to space tech. The vehicle remains open.
Hillhouse targets $12b for separate buyout, growth funds
China's Hillhouse Capital has split its current fundraising effort into separate buyout and growth strategies – having raised a single pool in the previous vintage – and is seeking $12 billion across the two funds.
Thailand multi-family office launches PE platform
Thailand-based multi-family office Blueprint Forest has committed $120 million to the debut fund of 9 Basil, a private equity firm it set up last year.
Polaris wins PSERS support for $1.4b Japan fund
Polaris Capital Group has won support from Pennsylvania Public School Employees’ Retirement System (PSERS) for a Japan buyout fund of up to JPY150 billion ($1.4 billion), twice the size of its 2016 vintage predecessor.
China's Gaorong closes Fund V at $1.1b
Gaorong Capital has closed its fifth US dollar-denominated fund with commitments of $1.15 billion. It brings the Chinese venture capital firm's assets under management to about $4 billion.
Indonesia's AC Ventures hits first close on debut fund
AC Ventures, a recent merger of Indonesia’s Agaeti Ventures and Convergence Ventures, has reached a first close of $56 million for its debut fund as a combined group. The target is $80 million.
Fund focus: BA Capital backs youth
ByteDance spinout BA Capital has raised $147 million for its second renminbi-denominated fund and is also raising a US dollar vehicle. Backing consumer brands that resonate with young people underpins the investment thesis
Fund focus: CCV raises $300m for China fund
China Creation Ventures secures $300 million for Fund II, having found that some LPs are holding back on China commitments while others are even more willing to engage
Q&A: Unison Capital's Tatsuo Kawasaki
Tatsuo Kawasaki, a partner at Unison Capital, on supporting existing investments and making new ones, expectations of distress in Japan, and why a platform approach makes sense for healthcare
SBI, Sygnum launch digital assets fund
SBI Ven Capital, an investment arm of Japan's SBI Group, has teamed up with digital asset bank Sygnum Group and launched an early-stage fund investing in digital assets across Southeast Asia and Europe.
SAIF launches fourth India VC fund
SAIF Partners India has launched its fourth VC fund with a target of $400 million.
Bain launches Japan fund
Bain Capital has launched a dedicated Japan fund with a target of JPY100 billion ($946 million) as local and foreign managers ready themselves for a much-anticipated rise in buyout deal flow in the country.
ESG & secondaries: Finer filters
Rising sustainability standards pose unique challenges for investors that prefer buying into existing portfolios. Interestingly, increasingly complex deal structures are making it easier
KKR beats target in ongoing Asia fundraise
KKR has surpassed the $12.5 billion target for its fourth pan-Asian buyout fund, with a final close expected at the end of this year or early in 2021.
GP profile: Redpoint China Ventures
Redpoint China Ventures spun out from its US parent in 2016, but the knowledge it retained – and the communication that remains – has been key to moving early on enterprise technology
Linear raises $200m for China VC fund
Chinese venture capital firm Linear Capital has closed its fourth US dollar-denominated fund at nearly $200 million, taking its overall assets under management to $400 million.
China's M31 Capital closes debut fund at $450m
Chinese Venture Capital firm M31 Capital has raised $450 million for its debut US dollar-denominated fund, beating a target of $400 million.
HarbourVest backs IDG renminbi fund restructuring
IDG Capital has completed a renminbi fund restructuring in which assets have been transferred from one local currency vehicle to another backed by offshore investors. It is the first secondary deal of its kind to use the Qualified Foreign Limited Partner...
Gaorong seeks $1b for China VC fund
Chinese venture capital firm Gaorong Capital is targeting $1 billion for its fifth US dollar-denominated fund – twice the amount raised in the previous vintage.
Southeast Asia VC: Knowledge transfers
When venture capital firms move into Southeast Asia, they often use existing operations in China or India as a launching pad. Different lessons can be learned from these two markets
CITIC, SF Holdings raise $308m China logistics fund
CITIC Capital and SF Holdings – the parent company of SF Express, China’s second-largest courier company – have launched a RMB2.1 billion ($308 million) fund that will invest in logistics properties.
