Funds
China’s two largest VC-backed taxi-booking apps to merge
Didi Dache and Kuaidi Dache, China's two largest venture capital-backed taxi-booking app start-ups, are planning to merge to create one of the largest companies of its kind in the world.
Unison to exit Japan wine retailer Enoteca to Asahi
Japanese mid-market GP Unison Capital has agreed to exit wine retailer Enoteca to brewing giant Asahi Group. The terms of the deal were not disclosed.
Unitas Capital's Korea team to spin out
Unitas Capital's Eugene Suh and Jay Lee will spin out to raise a Korea-focused fund. They will take the four-person Seoul-based team with them.
Australia drafts new rules for VC investor visa scheme
The Australian government plans to change the current rules for its Significant Investor Visa (SIV) program as part of efforts to boost the availability of capital for local start-ups.
Sequoia, Matrix commit $30m to Indian doctor search site
Sequoia Capital India and Matrix Partners have invested $30 million in a Series B round of funding for Practo Technologies, an Indian start-up that provides a search portal matching patients and doctors.
Australia's QIC raises an initial $528m for global infrastructure fund
QIC, an investment manager controlled by the Queensland government, has secured initial commitments of $528 million from four institutional investors for a global infrastructure fund.
Club Med battle ends with Fosun consortium victory
Shareholders in French vacation resort operator Club Méditerranée (Club Med) have accepted a EUR939 million ($1.1 billion) takeover offer from a consortium led by China's Fosun International, bringing the longest takeover battle in French history to...
NSI Ventures leads round for Singapore insurance marketplace
NSI Ventures, the VC unit of Northstar Group, has led Series A round of funding worth $8 million for Asian insurance and wellness marketplace CXA, alongside consumer and technology fund F&H and healthcare investor BioVeda.
Japanese app monetization platform raises $36m Series C round
Metaps, a Japanese start-up that provides an app monetization platform using artificial intelligence (AI), has raised a $36 million Series C round of funding.
Greenhill to buy secondaries advisor Cogent
Boutique investment bank Greenhill & Co. has agreed to buy Cogent Partners, a global financial advisor specializing in the private equity secondary market, for up to $97.6 million.
KIP leads $10m Series A round for China cosmetics review app
Korean Investment Partners (KIP), South Korea’s biggest venture capital firm, has led a $10 million Series A round of investment for Cosmeapp, a Chinese mobile app that provides cosmetics reviews.
Equis in $1.7b fundraising bonanza
Equis Funds Group's first foray into Japan’s solar energy sector was at least 18 months in the making. The energy and infrastructure-focused GP mapped the entire region in terms of solar power potential and regulatory factors then, working with Partners...
China B2B platform targets supply chain disruption
Chinese B2B trading platforms Zhaogang.com and Zhaosuliao.com share more than just a desire to bring about technology-enabled disruption of inefficient offline industry supply chains. They also have several backers in common: IDG Capital Partners, Matrix...
Singapore start-ups: Another option
The Singapore Exchange and Clearbridge Accelerator are launching a capital-raising platform for Asian start-ups. Does it represent a much-needed stepping stone between private and public markets?
Profile: Lunar Capital's Derek Sulger
In 1999, Derek Sulger turned his back on a career with Goldman Sachs to start a company in China. Fifteen years on, having founded mid-market consumer buyout firm Lunar Capital, he has no regrets.
China’s Heaven-Sent Capital invests $32m in media enterprise
Chinese private equity firm Heaven-Sent Capital has invested RMB200 million ($32 million) in Great Wall Movie and Television, a Shenzhen-listed television and movie producer.
SAIF, Innovation Works back China healthcare start-up
SAIF Partners and Innovation Works have provided a Series A round of funding for Beijing Dnurse Technology, a Chinese company that develops technology used to track sugar levels in the body.
Japan messaging app Line launches $42m investment fund
Japanese messaging app developer Line Corporation has launched a JPY5 billion ($42 million) investment fund to invest in start-ups.
Equis raises $1.7b for Asia energy, infrastructure investments
Asia-focused energy and infrastructure GP Equis Funds Group has closed its second fund at $1 billion and also raised $300 million for a follow-on vehicle to Fund I and $400 million for two existing platform investments.
UK's Amadeus picks Bhavani Rana to lead new India office
UK tech-focused VC firm Amadeus Capital Partners hired Intel Capital's Bhavanipratap (Bhavani) Rana as partner and head of India operations as it opens a new office in Bangalore.
India mobile recharge platform FreeCharge raises $80m
Two hedge funds, San Francisco-based Valiant Capital Management and Hong Kong’s Tybourne Capital Management, have participated in an $80 million Series C round for Indian mobile top-up platform FreeCharge.
Renren backs China used car platform Cheyipai
Chinese social networking platform Renren has led $110 million Series D round of funding for Cheyipai, a Chinese second-hand car trading platform.
Sequoia leads $60m round for China construction site
Sequoia Capital has led a $60 million funding round for Wangzhu Corporation, an online construction services provider controlled by Chinese property developer Greentown Group.
Japanese mobile games developer MyNet raises $6.2m
MyNet, a Japanese mobile games developer, has raised JPY730 million ($6.2 million) from a slew of investors including B Dash Ventures, SMBC Venture Capital, Shinsei Corporate Investment, and Sumitomo Mitsui Bank.