Funds
Goldman commits $20m in China biotech firm
Goldman Sachs has committed $20 million in a Series B round of funding to Ascletis, a Hangzhou-based biotechnology company.
Zhejiang Century Huatong to buy China PE-backed gaming assets
Shenzhen-listed Zhejiang Century Huatong Group will acquire game developers China Mobile Games & Entertainment Group (CMGE) and DianDian Interactive for a combined RMB13.5 billion ($2.1 billion), facilitating exits for several PE investors.
Adams Street names Yar-Ping Soo Asia investment team head
Yar-Ping Soo, a partner with Adams Street Partners, has been appointed head of the firm’s Asian investment team, succeeding Piau-Voon Wang, who will become a senior advisor.
China social networking app for runners secures $18m
Joyrun, a Chinese social networking app that targets recreational runners, has completed a $18 million Series B round of funding led by Arena Capital, a local sport-focused venture capital firm.
NGP leads $10m round in China’s Sensoro
Nokia Growth Partners (NGP) has led a $10 million round of funding for Sensoro, a Chinese developer of mobile internet data networks based in the US and China.
VC secondaries: How early?
Assessing venture capital secondaries – on a direct or LP interest basis – presents a different set of challenges to private equity transactions. The key factors are transparency and timing of entry
VC top-up funds: Extra ordinance
A growing number of Chinese VC firms are raising top-up funds so they can continue supporting portfolio companies through ever larger growth rounds. Has the fundraising landscape changed forever?
Profile: Upshot's Huoy-Ming Yeh
Driven by a combination of professional ambition and family considerations, Huoy-Ming Yeh has experienced the start-up space in China and the US. She now wants to put this to good use with Upshot
China P2P car rental app Atzuche raises $47m
Atzuche, a Shanghai-based peer-to-peer (P2P) car rental start-up, has raised a RMB300 million ($47 million) Series B round of funding from China Pacific Insurance, Ivy Capital, Hearst Capital, Matrix Partners and Ceyuan Ventures.
Highlight provides Series A for China’s eDoctor
Highlight Capital has led a Series A round of funding for eDoctor Healthcare Communications, a Chinese start-up specializing in pharmaceutical marketing solutions.
Japan skills platform gets $4.4m in funding
Coconala, a Japanese skills marketplace formerly known as WelSelf, has raised JPY540 million ($4.4 million) in funding from Jafco, Nissay Capital, SMBC Venture Capital and Voyage Ventures.
Australia-based Simon Moore to leave Carlyle - report
Simon Moore, a managing director with The Carlyle Group’s Asia buyout team in Sydney, will reportedly not stay with the firm beyond the life of the current fund.
China Communications, NSSF set up infrastructure fund
China Communications Construction Company (CCCC) and the National Council for Social Security Fund (NSSF) have established a RMB15 billion ($2.3 billion) infrastructure fund.
Ping An, Adamas launch $500m China SME-focused fund
Adamas Asset Management and Ping An Trust have launched a joint venture fund with a target of $500 million to invest in growth-focused Chinese small and medium enterprises (SMEs).
SoftBank leads $120m round for India's Grofers
Indian hyperlocal delivery service Grofers has raised $120 million in Series C funding led by SoftBank Corp.
Allianz, Baidu, Hillhouse form Chinese insurance JV
Chinese search giant Baidu, German insurer Allianz and China-based Hillhouse Capital have formed an internet insurance company to distribute insurance products in China.
China’s Renren leads $22m round for US job search platform
China’s social networking platform Renren has led a $22 million Series B round of funding for Shiftgig, a US mobile marketplace for short-term jobs.
Global Brain, Dentsu, Mitsui in $6.1m round for Japan's Kabuku
Japan-based Kabuku, manager of 3-D printing service Rinkak, has closed a JPY750 million ($6.1 million) Series A round with participation by Global Brain, Dentsu Digital Holdings and Mitsui Sumitomo Insurance Venture Capital.
Northstar closes PE fund at $810m, VC fund at $89m
Northstar Group has reached a final close of $810 million on its fourth fund, which targets Southeast Asia, with a particular focus on Indonesia. Meanwhile, the firm’s VC unit, NSI Ventures, has closed its debut fund at $89 million.
China’s Weibo leads $200m round for video app maker
Chinese social media platform Weibo Corporation has led a $200 million Series D round of funding for Yixia Technology, a Beijing-based mobile video app developer.
Mitsui commits $52m to India's Naaptol
Mitsui & Co. Global Investment, the VC arm of Japanese conglomerate Mitsui, has invested another INR3.4 billion ($52 million) in Indian TV shopping and e-commerce platform Naaptol.
Lufax, China private funds to launch online products
Shanghai Lujiazui International Financial Asset Exchange (Lufax), a Chinese online financial platform controlled by Ping An Insurance Group, has signed agreements with 30 domestic private investment fund managers that will see their products distributed...
Q&A: IDFC Alternatives' MK Sinha
M.K. Sinha, CEO of IDFC Alternatives, explains how the firm has been focusing on private equity exits, gradual accumulation of assets in infrastructure, and opportunistic openings in real estate
India tech M&A: Treading water
India’s internet giants are becoming more acquisitive, but they still play a minor role in VC firms’ planning. To raise their influence these companies first need to stabilize their own operations