Funds
Sequoia raises $8.8b for China funds
Sequoia Capital has hit the hard cap on each of the four funds in its latest China vintage, accumulating USD 8.8bn for deployment in seed through late-growth rounds.
Joy sets modest target for China VC fund - update
Beijing-based Joy Capital has set a lower target for its latest US dollar-denominated fund than in the previous vintage and decided against raising a second accompanying growth vehicle.
Bertelsmann to invest $500m in India
Bertelsmann India Investments has earmarked USD 500m, provided by its eponymous German parent, for investment in local start-ups. The VC unit’s total deployment since its launch in 2013 is USD 285m.
Entrepreneur First raises $158m, targets SE Asia
UK-headquartered incubator Entrepreneur First (EF) has raised USD 158m, targeted in part at investment in Southeast Asian start-ups and expanding its reach in the region.
Fund focus: LGT eyes a buying opportunity
As LGT Capital Partners starts deploying its USD 1.65bn Asia fund-of-funds, it hopes that rationalising valuations and some consolidation of GP relationships will contribute to a strong vintage
Fund focus: Re-ups underpin FountainVest's Fund IV close
Despite headwinds that have afflicted all China-focused managers, FountainVest Partners closed its fourth fund just above target on USD 2.9bn. One-third of the corpus has already been deployed
India's Fundamental VC launches debut fund
Fundamental VC, an early-stage investor set up by two Indian angel investors and start-up ecosystem professionals, has launched its debut fund with a target of USD 130m.
Matrix seeks $450m for fourth India fund
Matrix Partners has launched its fourth India venture capital fund with a target of USD 450m.
LGT raises $1.65b for Asia fund-of-funds
LGT Capital Partners has closed its fifth Asia-focused fund-of-funds with USD 1.65bn in commitments, up from approximately USD 1bn in the previous vintage.
China's ZWC hits first close on debut renminbi fund
Chinese venture capital firm ZWC Partners has reached the first close of CNY 1bn (USD 149m) on its debut renminbi-denominated fund. The overall target is CNY 1.5bn.
Fund focus: LPs endorse Potentia’s software thesis
Potentia Capital took just four months to close its second fund on USD 438m, emphasizing the growing appeal of B2B technology opportunities in Australia and New Zealand
Legend axes consumer from latest China TMT fund
Legend Capital has excluded the consumer-facing segment from its latest China technology, media, and telecom (TMT) fund, reflecting a broader sense of uncertainty among local managers regarding the regulatory environment.
Japan's WiL raises USD 1bn
US-Japan cross-border investor World Innovation Lab (WiL) has raised USD 1bn across its third flagship fund and several other vehicles.
India's 8i Ventures seeks $50m for Fund II
8i Ventures, an India-based early-stage venture capital firm that recently made a partial exit from software supplier M2P Fintech with a 36x return, is targeting USD 50m for its second fund.
Sequoia raises $2.85b for India, Southeast Asia
Sequoia Capital has raised USD 2.85bn for its latest set of India and Southeast Asia-focused funds, which includes the firm’s first-ever dedicated Southeast Asia vehicle.
Australia’s Potentia closes Fund II on $438m
Australian technology-focused private equity firm Potentia Capital has achieved a first and final close of AUD 635m (USD 438m) on its second fund, hitting the hard cap and beating a target of AUD 500m.
Monad targets up to $150m for second China software fund
Monad Ventures, a China-based VC firm specialising in early-stage enterprise software investments, is looking to raise up to USD 150m for its second US dollar-denominated fund.
Silicon Valley-based Scale Asia Ventures raises $30m fund
Scale Asia Ventures (SAV), a Silicon Valley-based investor that aims to bridge the US and Asia start-up ecosystems, has raised USD 30m for its latest early-stage fund.
Korea's Hahn & Co targets $3.25b for Fund IV
Hahn & Company has set a target of USD 3.25bn for its fourth Korea-focused fund, which will include a co-investment sidecar of unspecified size.
Bain raises $2b for Asia special situations fund
Bain Capital has closed its second Asia special situations fund with more than USD 2bn in commitments. The firm described it as the largest vehicle in the region dedicated to the likes of direct lending, mezzanine debt, and distressed asset opportunities.
DCP hits $2.5b first close on second China fund
DCP Capital has already completed five investments from its second China fund, having completed a first close of USD 2.5bn in January.
India's Anicut Capital hits first close on VC fund
Indian early-stage investor Anicut Capital has achieved a first close of INR 1.1bn (USD 14.2m) on its latest VC fund, which is targeting INR 5bn. It coincides with the nomination of a new partner.
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
