Funds
China B2B steel-trading platform raises $153m
Zhaogang.com, a Chinese B2B steel-trading platform backed by several VC investors, has completed a Series E round of funding worth RMB1 billion ($153 million).
Japan’s Skyland raises $10m VC fund
Tokyo-based early-stage investor Skyland Ventures has raised JYP1.2 billion ($10 million) for its second VC fund.
Fuji Startup Ventures backs Japan's The Bridge
Fuji Startup Ventures (FSV), the VC arm of Japan's Fuji TV network, has committed an undisclosed amount of funding to Tokyo-based start-up news site The Bridge, alongside public relations company PR Times.
Sequoia leads $6m round for Indian brewer
Sequoia Capital has led a INR400 million ($6 million) round for Indian brewer B9 Beverages, the makers of the craft beer brand Bira 91.
Chinese regulator halts GP listings on New Third Board
China’s securities regulator has suspended listings and fundraising by domestic private equity firms on the National Equities Exchange and Quotation (NEEQ) system, also known as the New Third Board.
Fenox commits Series D to Japan's Geniee
Fenox Venture Capital has committed an undisclosed amount of Series D funding to Japan-based adtech start-up Geniee.
China Everbright launches renminbi fund-of-funds
China Everbright has established a fund-of-funds with initial capital of RMB5 billion ($769 million) and a full target of RMB10 billion.
China online food retailer Benlai raises $100m
Benlai.com, a Chinese B2C-focused online grocer, has raised approximately $100 million in a Series C round of funding.
Tsinghua Holdings reaches first close on China fund-of-funds
Redbud Capital, a VC fund-of-funds investment unit under Tsinghua Holdings, has reached a first close of RMB1 billion ($154 million) on its latest China-focused fund.
Indonesia to tighten rules for foreign venture capital
Indonesia's financial regulators will introduce tighter rules for foreign venture capital investors doing business in the country.
Three partners to leave India VC firm Helion
Three of the six partners at India-focused VC firm Helion Venture Partners will depart to pursue other opportunities.
Blume Ventures in $30m first close on second India fund
Blume Ventures has reached a first close of more than $30 million on its second India early-stage fund. The vehicle has a full target of $60 million.
Bain closes third Asian fund at hard cap
Bain Capital has closed its third Asian fund at the hard cap of $3 billion plus a GP commitment of at least $250 million. The fundraising process has taken approximately seven months.
China cloud-computing provider UnitedStack raises Series C
UnitedStack, which claims to be the first OpenStack-enabled cloud computing provider in China, has received a Series C round of funding of undisclosed size from Sequoia Capital.
China online ticketing sites Weiying Times, Gewara to merge
Chinese movie ticket-booking platforms Beijing Weiying Times Technology and Gewara – both of which have received several rounds of funding from VC and strategic investors – have agreed to merge.
IFM agrees sale of Pacific Hydro to China's SPIC
IFM Investors has agreed to sell Australia-headquartered renewable energy platform Pacific Hydro to China’s State Power Investment Corporation (SPIC).
Fund focus: Plugging the innovation gap
First State Super teams up with local VC player H2 Ventures to back Australia financial technology start-ups
2015 in review: Capital in abundance
Ample liquidity and a tech boom drive up investment activity; venture takes center stage in a relatively quiet fundraising environment; exits do not disappoint, but fail to match the highs of 2014.
Five trends for 2016
What do the next 12 months have in store? AVCJ has some ideas, but first here is a review of the predictions made for 2015…
China's Cowin Capital to exit jewelry retailer Myray
Shenzhen Cowin Capital is poised to exit jewelry retailer Myray to Gansu Gangtai Holdings following the Shanghai-listed company's agreement to buy a further 36.96% of Myray for RMB170 million ($26 million).
China Phoenix TV’s online finance platform secures $80m
Fengjr.com, an online finance platform created by Chinese television broadcaster Phoenix Satellite TV, has raised an $80 million Series A round led by CITIC Asset Management and CASH Capital – the VC arm of the state-owned Chinese Academy of Sciences...
WuXi Healthcare closes second Sino-US VC fund at $290m
WuXi Healthcare Ventures, a corporate venture arm owned by China-based WuXi PharmaTech, has closed its second early-stage healthcare fund at $290 million, exceeding the target of $200 million.
Formation 8 leads round for Korea's Yello Mobile
Formation 8 has re-upped in South Korean mobile internet company Yello Mobile, leading a $47.2 million financing round. The capital will be used to strengthen the company’s business domestically and across Asia.
Blackstone raises $18b for latest global fund
The Blackstone Group has reached a final close on its latest global private equity fund at $18 billion, with demand said to be well in excess of the $17.5 billion hard cap.