Funds
China Renaissance raises $446m for renminbi fund
Huaxing Growth Capital, the private equity division of China Renaissance, has achieved a CNY 3bn (USD 446m) first close on its fourth flagship renminbi-denominated fund.
East closes $550m in early-stage and growth funds
Indonesia’s East Ventures has closed two funds with a combined USD 550m in commitments for its early-stage and growth strategies.
Singapore’s Fullerton tokenises PE fund-of-funds
Singapore’s Fullerton Fund Management has tokenised its latest private equity fund-of-funds, allowing for a minimum commitment size of USD 10,000.
GD1 launches New Zealand's first crypto VC fund
New Zealand’s GD1 has launched what it calls the first dedicated crypto and Web3 VC fund in its home market less than a week after a similar claim by PAC Capital in Australia.
Fund focus: MassMutual Ventures widens remit
Having started a Southeast Asia specialist, MassMutual Ventures has broadened its regional coverage to include everything outside of China. Europe is also part of the equation for Fund III
Japan's J-Star closes fifth fund on $574m
Japanese lower middle-market private equity firm J-Star has closed its fifth flagship fund at the hard cap of JPY 75bn (USD 574m). The target was JPY 65m.
Venturi closes debut SE Asia, India consumer fund on $175m
Venturi Partners, a Singapore-based consumer-focused investment firm established by a former Verlinvest executive in the region, has closed its debut fund on USD 175m.
Quadria eyes $1b for Fund III, emphasizes health-tech
South and Southeast Asia healthcare specialist Quadria Capital is broadening its scope to include areas such as healthcare technology and digital health insurance for Fund III, which is expected to be up to USD 1bn in size.
MassMutual Ventures raises $300m for Asia, Europe
MassMutual Ventures (MMV), a global venture capital firm that counts US-based Massachusetts Mutual Life Insurance as its sole LP, has launched a USD 300m fund that will invest in Asia Pacific and Europe.
TPG Rise Climate closes on $7.3b
TPG has raised USD 7.3bn for a dedicated climate-focused strategy under its USD 14bn global impact investment platform.
Fund focus: Openspace begins growth story
Openspace Ventures has raised USD 200m for a fund that will primarily do follow-on rounds for existing portfolio companies. There is plenty of activity, but uncertainty lurks in the background
IFC looks to back Circulate Capital's second fund
The International Finance Corporation (IFC) has proposed a USD 10m commitment to Singapore-based Circulate Capital’s second fund dedicated to reducing plastics pollution.
GIC spinout seeks $750m for SE Asia growth deals
Growtheum Capital Partners, a private equity firm established by the former head of GIC’s direct private equity investment group in Southeast Asia, has achieved a first close of approximately USD 400m on its debut fund.
Australia's Mercury targets $595m for Fund IV
Australian mid-market private equity firm Mercury Capital is targeting AUD 800m (USD 595m) for its fourth fund.
Openspace closes SE Asia growth fund on $200m - update
Southeast Asia-focused Openspace Ventures closed its debut growth fund on target at USD 200m in the first quarter of 2022 and has already committed nearly half the corpus.
Creaegis targets $500m India fund
Creaegis, an India-based private equity firm established by Prakash Parthasarathy, formerly founding CIO and managing partner of PremjiInvest, is looking to raise USD 500m for its debut fund.
DSG hits first close on fourth India, SE Asia consumer fund
DSG Consumer Partners has reached a first close of approximately USD 63m on its fourth fund, which will make early-stage consumer sector investments in India and Southeast Asia.
Arkam secures $106m for debut India fund
Arkam Ventures, an Indian VC firm established by Rahul Chandra, formerly of Helion Venture Partners, has closed its debut fund on USD 106m.
Kotak targets $1.5b for second India special situations fund
Kotak Investment Advisors is looking to raise USD 1.5bn for its second India-focused special opportunities credit fund, up from about USD 1bn in the previous vintage.
Sequoia targets USD 7.1bn for latest China vintage
Sequoia Capital has defied a difficult China fundraising environment to set a target of USD 7.1bn for its latest set of funds, which include an expansion vehicle in addition to the existing growth strategy.
Fund focus: ASEAN finds new inroads to global tech
SeaX Ventures is ramping up its “corporate venture capital-as-a-service” with a significantly upsized second fund and sharpened strategy around deep tech demand in Southeast Asia
Elevation raises $670m for latest India VC fund
India-focused Elevation Capital has closed its latest early-stage fund on USD 670m on the back of a 100% increase in the firm’s pace of deployment in the past 12 months.
China’s XVC raises $274m for third US dollar fund
Beijing-based venture capital firm XVC has raised USD 274m for its third US dollar-denominated vehicle. It brings overall assets under management to USD 1.2bn.
SeaX wins Thai corporate support for $60m second fund
SeaX Ventures – or Southeast Asia Exponential Ventures – has closed its second early-stage fund on USD 60m, surpassing the USD 50m target.