Growth
SOSV raises $100m growth fund
Early-stage investor SOSV – known for accelerator programs such as China-based HAX and Chinaccelerator – has raised $100 million for its first growth fund designed to invest in Series B rounds and beyond.
Kotak hits $185m first close on India pre-IPO fund
India’s Kotak Investment Advisors has achieved a first close of INR13.9 billion ($185 million) for a pre-IPO fund.
China's Qiming targets listed healthcare businesses
Qiming Venture Partners is mobilizing its newly launched public equities unit – and $500 million fund – to participate as an anchor investor in Hong Kong IPOs by Chinese healthcare companies.
New Zealand's Oriens hits $56m Fund II target
New Zealand private equity firm Oriens Capital has hit the NZ$80 million ($56 million) target for its second fund and is now seeking NZ$20 million in oversubscriptions.
Orchid Asia reaches $1.1b first close on Fund VIII
Orchid Asia has achieved a first close of $1.1 billion on its eighth fund, five months after launching the vehicle with a full target of $1.6 billion.
KV Asia hits $100m first close on Fund II
KV Asia Capital has reached a first close of $100 million for its second Southeast Asia private equity fund. The vehicle, which focuses on the lower middle market, has a target of $300 million.
Singapore's Heritas hits first close on Asia impact fund
Heritas Capital, a Singapore-based private equity firm sponsored by industrial conglomerate IMC Group, has reached a first close of $60 million on a pan-Asia impact investment fund.
TA raises $12.5b for 14th flagship fund
TA Associates, a global growth-oriented investor with a presence in Asia, has closed its 14th flagship fund at the hard cap of $12.5 billion.
China's Yingke closes renminbi, US dollar funds
Shanghai-based Yingke Private Equity has raised RMB10 billion ($1.57 billion) for its latest renminbi-denominated fund as well as an undisclosed sum for a third US dollar vehicle.
Paddy Sinha joins India government infrastructure fund
Paddy Sinha, formerly managing partner of Tata Opportunities Fund, has become executive director and CIO for private equity at India’s National Investment & Infrastructure Fund (NIIFL).
LG Chem to anchor IMM's Korea battery fund
IMM Private Equity’s recently established credit unit has launched a KRW400 billion ($353 million) Korea-focused fund that will invest in components for electric vehicle (EV) batteries and other environmentally friendly industrial materials.
DFIs help Nepal impact fund to $40m first close
Development finance institutions (DFIs) featured prominently in a $40 million first close for the second impact fund from Nepal-focused Dolma Fund Management. The target is $75 million.
Fund focus: Lakeshore remains one of Thailand’s few
Thailand is hardly a hotbed of private equity activity in Asia, but Lakeshore Capital has demonstrated an ability to deploy and return capital. It now has a $150 million second fund to put to work
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.