Funds
Nokia Growth leads Series B for India's Indix
Nokia Growth Partners has led a $15 million Series B round for Indian cloud-based analytics start-up Indix. Existing investors Nexus Venture Partners and Avalon Ventures took part in the round as well.
Chinese tutor app Changingedu.com raises $100m
TAL Education Group, a US-listed K-12 after-school tutoring service provider, has led a $100 million Series C round for Changingedu.com, a China-based platform that connects private teachers with students.
VCs commit $20m to China logistics cloud solution provider
IDG Capital Partners, Matrix Partners and Yunqi Ventures have provided $20 million in Series A funding to Olymtech Corporation, a Chinese cloud solutions specialist that focuses on the logistics industry.
Allegro closes Australia distress fund at $139m
Australian turnaround specialist Allegro Funds has closed its second vehicle at A$180 million ($139 million) and expects to see plenty of deal flow from domestic banks seeking alternative solutions to pushing distressed companies into insolvency.
Former Matrix China director launches RMB VC fund
Roger Hu, a director at Matrix Partners China, has teamed up with Yi Zheng, formerly vice president at Chinese dating app Momo, to launch a renminbi-denominated early-stage fund.
Morningside, IDG provide Series B round for China's AllMobilize
Morningside Technologies and IDG Capital Partners have invested in a Series B round of funding for AllMobilize, a Chinese start-up that helps companies create websites that are adaptive to mobile devices.
Sequoia, Kae lead round for India logistics marketplace
Sequoia Capital and Kae Capital have led a INR350 million ($5.5 million) Series A round for Indian online logistics marketplace Porter, with participation from three strategic angel investors.
Alibaba, Ant Financial form JV to invest in China's O2O service
Alibaba Group and its financial affiliate Ant Financial plan to invest nearly $1 billion in a joint venture that will tap into China’s local online-to-offline (O2O) services market, initially focusing on the food and beverage segment.
Matrix, SAIF back India-based hotel start-up
Treebo, an Indian online budget hotel chain, has raised a $6 million Series A round led by Matrix Partners India and SAIF Partners.
Hamilton Lane raises $1.5b for global co-investment fund
Hamilton Lane has reached a final close of $1.5 billion for its third co-investment fund, exceeding the $1 billion target.
Deal focus: Qiming sees Tuhu as agent of disruption
When it comes to using technology to disrupt China’s auto industry, private equity and venture capital funding appears to have targeted almost every corner of the space.
Fund focus: InnoSpring builds cross-border bridges
San Francisco's Artisan State faced the classic start-up dilemma: a great idea with no way to make it happen. The firm knew there was demand for professional-quality photo books at affordable prices, but it didn’t have the facilities to produce them....
Fund focus: Shoreline rides the China credit cycle
Ben Fanger, co-founder and managing director at China distress specialist Shoreline Capital, divides credit cycles into four phases: a credit boom or misallocated lending; decelerating growth or credit tightening; the recognition that someone has to take...
Renminbi secondaries: An underpenetrated market
Plenty of Chinese high net worth individuals want to sell LP interests in renminbi funds. Local and foreign secondaries managers would like to take advantage, but they are held back by an immature market
Onshore IPOs and China VIEs: Replacement capital?
With Chinese entrepreneurs considering domestic IPOs, foreign VCs face the prospect of having to sell off investments in restricted industries. But the trend can only be sustained as long as valuations remain high
Blue Sky reaches $11.5m first close on Australia VC fund
Australia-based alternatives investor Blue Sky has reached a first close of A$15 million ($11.5 million) on its second venture capital fund. The vehicle has a full target of A$30 million.
Legend-owned third-party payment platform raises $242m
Lakala, a Chinese offline third-party payment service provider owned by Legend Holdings, has raised RMB1.45 billion ($242 million) in its latest financing round, giving the company a valuation of more than RMB10 billion.
Singapore's Temasek, CVC agree $2b deal for US generic drug firm
Singapore's Temasek Holdings is a member of a CVC Capital Partners-led consortium that has agreed to buy a controlling stake in US-based generic drug manufacturer Alvogen. The deal is said to value the company at $2 billion.
Apollo exits 4.4% stake in India's Dish TV
Apollo Global Management has exited a 4.4% stake in India-based direct-to-home (DTH) service provider Dish TV, selling about INR4.86 billion ($76.6 million) worth of shares via the open market.
Shenzhen Fortune invests $48m in Focus Media
Fortune Capital has invested RMB300 million ($48 million) in Focus Media, a PE-backed Chinese outdoor advertising firm on course for a $7.37 billion backdoor listing in Shenzhen.
China regulator allows 100% foreign ownership in e-commerce
China's Ministry of Industry and Information Technology (MIIT) has permitted foreign investors to fully own and operate e-commerce companies operating within the country.
Faering leads $11m Series C for FundsIndia
Faering Capital has led a INR700 million ($11 million) Series C round for Wealth India Financial Services, the parent company of online financial services platform FundsIndia.
Japan to lead boom in Asia restructuring activity - survey
Corporate restructuring activity in Japan should lead to a broader rise in the number of distress opportunities in Asia, as a result of both regulatory change and added pressure from investors.
Dianping leads $30m round for China's Farmlink
Farmlink, which operates a digital platform through which small and medium-sized restaurants in China can order food supplies, has received a $30 million in Series B funding led by listings and group-buying specialist Dianping.