Growth
Thailand’s Lakeshore closes second fund at $150m
Lakeshore Capital, a mid-market private equity firm focused on Thailand and the Greater Mekong region, has closed its second fund oversubscribed at the hard cap of $150 million.
Affirma hits first close on Korea fund, backs SK mapping spinout
Affirma Capital has reached a first close of KRW443 billion ($403 million) on its fifth Korea-focused fund, while simultaneously announcing a $181 million investment in SK Telecom’s mobility business.
Hosen raises $800m for latest China food fund
China-based food and agriculture specialist Hosen Capital has closed its third US dollar-denominated fund above target at $800 million.
Trustar to launch China growth strategy
Trustar Capital, a Chinese middle-market private equity firm until recently known as CITIC Capital, is complementing its flagship buyout strategy with a growth capital-oriented fund.
PE topples advisory as China Renaissance's key business
Fund management has become China Renaissance’s largest source of revenue, seven years after the firm – best known for providing private placement and M&A advisory services to Chinese internet companies – entered the private equity business.
IFC to invest $25m in Gaja’s fourth India fund
The International Finance Corporation (IFC) has proposed a $25 million commitment to the fourth private equity fund from India’s Gaja Capital. The target corpus is $400 million.
India's Edelweiss targets $686m for pre-IPO fund
Edelweiss Wealth Management (EWM) is looking to raise INR50 billion ($686 million) for its third fund focusing on late-stage growth and pre-IPO investments in India.
India's Oaks raises $55m for consumer PE fund
India’s Oaks Asset Management has raised INR4 billion ($55 million) for its second mid-market consumer private equity fund. The overall target is INR5 billion.
OrbiMed raises $800m for Asia life sciences fund
OrbiMed has closed its latest Asia life sciences fund, which primarily invests in China and India, with $800 million in commitments.
Fund focus: LPs endorse Ocean Link's China tourism, tech thesis
Ocean Link has raised $580 million for a second fund targeting China travel, tourism and consumer technology assets, but the firm believes co-investment could take aggregate deployment to $1.4 billion
India's Avataar raises $100m top-up fund
Avataar Ventures, an India-based enterprise software investor that spun out from Norwest Venture Partners in 2019, has raised a $100 million opportunities fund that will do follow-on rounds for existing portfolio companies and make some new investments.
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
Eastern Bell seeks $600m for second US dollar fund
Eastern Bell Capital, a Chinese private equity firm that focuses on supply chains and logistics businesses, has set a target of $600 million for its second US dollar-denominated fund.
NZ Super to back Pioneer's fourth fund
Auckland-based private equity firm Pioneer Capital has received a cornerstone commitment of NZ$100 million ($72 million) for its fourth fund from New Zealand Superannuation Fund (NZ Super).
Southeast Asia's shadow capital: Out of the darkness
Shadow capital – non-traditional pools of money held by sovereigns and corporates – has become a fixture in Southeast Asia’s tech space. Start-ups stand to benefit, but they must pick partners with care
Lilly Asia Ventures raises $1.35b for healthcare funds
Lilly Asia Ventures (LAV) has raised $1.35 billion for its latest healthcare fund, having introduced a $450 million opportunity vehicle that sits alongside a core pool of $900 million.
Fund focus: LPs flock to Lake Bleu’s late show
Lake Bleu Capital leveraged a lift in Chinese healthcare sentiment to raise $560 million for a fund that will target late-stage healthcare investments
AVCJ Awards 2020: Fundraising of the Year - Mid Cap: Ascendent Capital Partners
A $500 million investment in Wumart is the exception rather than the rule for Ascendent Capital Partners’ third China fund, but the digital transformation theme is a constant
Fund focus: Novo Tellus closes second Southeast Asia fund at $250m
Although its second fund is considerably larger than its first, Novo Tellus Capital Partners expects to target the same kind of Southeast Asian industrial technology businesses that have succession and expansion issues
Lake Bleu raises $560m for Asia pre-IPO healthcare fund
Lake Bleu Capital, a Hong Kong-based private equity investor focused on healthcare, has raised $560 million for a pre-IPO fund targeting Asia with an emphasis on Greater China.
China's Firstred targets $500m US dollar fund
Firstred Capital, a Chinese private equity firm established by M&A veteran Xiaodan Liu, is looking to raise approximately $500 million for its debut US dollar-denominated fund.
Silver Lake raises $20b for global tech fund
Silver Lake has closed its sixth global buyout fund at the hard cap of $20 billion as the US tech investor exhibits a growing appetite for mega-deals in Asia. Its prior vintage raised $15 billion in 2017.
China’s CICC raises $650m for biomedical fund
CICC Capital has reached a second close of RMB4.2 billion ($650 million) on its latest healthcare fund - the first in China to receive fast-track approval for its role in addressing COVID-19.
Cathay closes second innovation fund $789m
Cathay Capital has raised EUR650 million ($789 million) for its second innovation fund, which supports start-ups in China, Europe, and North America.
