Growth
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.
Vietnam’s Mekong closes Fund IV at $246m
Vietnamese private equity firm Mekong Capital has closed its fourth flagship middle-market fund at $246 million, more than twice the size of its predecessor vehicle.
UOB, Credit Suisse hit $60m first close on Asia impact fund
UOB Venture Management (UOBVM) and Credit Suisse have raised approximately $60 million in a first closing on their second Asia impact investment fund.
Large LPs willing to explore riskier growth options – AVCJ Forum
Institutional investors looking to diversify their growth portfolios are increasingly turning to technology and emerging managers, the AVCJ Forum heard.
Ascent closes debut Myanmar fund at $88m
Ascent Capital has closed its debut Myanmar growth fund with $88 million in commitments. It is said to be the largest private equity fund dedicated to the country.
IFM backs Australia SaaS player Zuuse
Australia’s IFM Investors has invested about A$50 million ($36 million) in local industrial software-as-a-service (SaaS) start-up Zuuse.
SSIAM, Daiwa hit first close on Vietnam fund
Hanoi-based SSI Asset Management (SSIAM) and Japan’s Daiwa Securities Group have reached a first close of undisclosed size on their third joint Vietnam private equity fund. The target is $100 million.
Lombard targets $250m for fifth Asia fund
Southeast Asia-focused private equity firm Lombard Investments has launched its fifth flagship growth capital fund with a target of $250 million.
TCDRS backs trio of Hillhouse funds
Texas County & District Retirement System (TCDRS) has put $200 million towards Hillhouse Capital’s latest Asia fundraising effort, committing to three separate funds.
Sinovation seeks $1b for China AI fund
Sinovation Ventures is looking to raise $1 billion for a growth-stage private equity fund that will focus on introducing artificial intelligence technologies (AI) to traditional industries.
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.
Fund focus: A window of opportunity
With $600 million in dry powder in its third Huaxing Growth Capital US dollar-denominated fund, China Renaissance has demonstrated a willingness to deploy while others hold back
India fundraising: Speed matters
Kedaara Capital's fundraise is expected to move quickly by Indian private equity standards, but the GP will need to answer the same questions as its peers on timing and re-ups
Sequoia scales up for China growth deals
Sequoia Capital China’s recent $3.68 billion fundraising effort has significantly expanded its scope to participate in later-stage deals. The three funds include a growth vehicle of $2.8 billion, a 55% increase on the previous vintage.
Q&A: Navegar's Honorio Poblador
Honorio Poblador, co-founder at Philippines-based Navegar, explains how his firm is positioning its second fund – newly closed at $197 million – in the face of the COVID-19 downturn
Navegar closes second Philippines fund at $197m
Manila-based private equity firm Navegar has closed its second Philippines fund with $197 million in commitments. The initial target was $150 million.
Ashva raises $60m for India SME, start-up fund
Singapore-headquartered investment firm Blue Ashva Capital has secured a first close of INR4.5 billion ($60 million) for an India-domiciled fund that will invest in small and medium-sized enterprises (SMEs) and start-ups.
Fund focus: B Capital begins second innings
Growth capital investor B Capital expects enterprise services to feature prominently in its Fund II portfolio as technology ecosystems in Southeast Asia and India continue to develop
Fund focus: Cathay taps strategic expertise in energy
Cathay Capital Private Equity is raising what it claims is China's first-ever smart energy fund, relying on contributions from LPs that offer strategic as well as financial support
Coronavirus dislocation funds: Runway watchers
Southeast Asia has emerged as a hotspot for VC funds targeting COVID-19 dislocation. They are flirting with strategies requiring private equity and short-term value investing skills
Cathay Capital raises $120m for China smart energy fund
Cathay Capital Private Equity has raised RMB820 million ($120 million) for its debut China smart energy fund, securing commitments from ALIAD, the venture capital arm of French industrial gases producer Air Liquide Group, among other investors.
Lakeshore seeks $125m for second Thailand fund
Lakeshore Capital Asia is looking to raise $125 million for its second Thailand-focused fund and has won backing from the International Finance Corporation (IFC).
