Funds
Jungle Ventures backs Singapore's Klinify
Klinify, a Singapore-based electronic medical records management service provider, has received S$770,000 ($604,000) in seed funding round led by Jungle Ventures.
IDG, Ascent invest in India's Newgen, Headland exits
IDG Ventures India and Ascent Capital have acquired a minority stake in Newgen Software Technologies, a Dehli-based business management services provider, for INR1.1 billion ($17.6 million). The investment facilitates the exit of Headland Capital Partners.
Matrix India leads Series B for Mswipe
Mswipe Technologies, a Mumbai-based mobile payment services provider, has raised a Series B round of funding led by existing investor Matrix Partners India. Axis Bank and DSG Consumer Partners also participated.
India to allow LBOs for distressed assets
Indian banks will be allowed to support leveraged buyouts of distressed companies by “specialized entities” according to plans released by the Reserve Bank of India. Under a liberalized regulatory regime for asset sales, sector-specific private equity...
CVC hires Asia consumer sector specialist as advisor
CVC Capital Partners has appointed consumer sector veteran Jeremy Hobbins as a senior advisor to the pan Asia team.
CDH to close upsized Fund V at $2.55b
Speaking to AVCJ last year, Shangzhi Wu (pictured), chairman and managing partner of CDH Investments, addressed the issue of certain China managers’ fund sizes rising with each vintage. He put the phenomenon down to a combination of rising valuations,...
EQT’s new fund goes global
The acquisition of a 65% stake in Qinyuan Bakery in 2010 was EQT Partners’ debut food service sector investment in China. Yet the deal was familiar territory for the GP, which was able draw on previous portfolio investments in Europe, including Vaasan&Vassan,...
Ventureast leads $3m round in med-tech startup
OneBreath, which makes low-cost portable ventilators, has raised $3 million from the Ventureast Tenet Fund, Villgro, former OnMobile COO Rajiv Kuchhal and BVR Mohan Reddy, founder of Infotech Enterprises, among other investors.
Auda raises $332 million for third global secondaries fund
Auda International has announced a final close on its third global secondaries fund at $332 million, exceeding the initial target of $300 million. Existing Auda investors accounted for more than 60% of the capital raised.
IDG spin-out Banyan Capital raises $206m for China fund
Banyan Capital, a China-focused VC group that spun out from IDG Capital Partners, has closed its debut fund at $206 million. High net worth individuals – primarily the founders and CEOs of companies the team backed while at IDG – contributed more...
LP interview: Axiom Asia
Axiom Asia has followed a consistent approach in backing small to mid-market country funds in the Asia Pacific region. Chihtsung Lam, the firm’s co-founder and managing partner, explains the strategy
RedMart fills Singapore’s e-groceries void
When entrepreneur Steve Melhuish moved to Asia from the UK his wife was a prodigious online shopper, having grown accustomed to ordering her groceries from Ocado or Waitrose. While he made headway in Singapore’s internet space, launching realty portal...
VC firms back Irish start-ups in China
Led by the likes of Google, Facebook and LinkedIn, US tech companies have flocked to Ireland due to its EU access and business friendly policies, creating around 140,000 local jobs in the process. This has fostered spin-outs and serial entrepreneurs across...
Vertex backs FirstCry’s O2O e-commerce push
Indian baby and kids-focused e-commerce site FirstCry.com was not the first mover in its segment when it launched in 2010. Kalaari Capital-backed HushBabies and Babyoye, an Accel Partners and Tiger Global portfolio company, were among those already operating...
Tempting offers: Australian IPOs
Following a prolonged drought, Australia has seen a recent spike in private equity-backed IPOs. Is this a flash in the pan or are public market exits on the cusp of a sustained comeback?
Strategic imperative: Chinese corporates embrace PE
Corporate private equity arms are catching on in China as companies beyond the tech space develop an appetite for investment. What does it mean for the industry’s independent incumbents?
TAL Education invests $25m in VC-backed Babytree
TAL Education, a China-based after-school tutoring services provider, has acquired a minority stake in childcare website Babytree for RMB150 million ($25 million). The online baby nursing information provider secured previous investments from Matrix Partners,...
India's National Innovation Council launches $792m fund
India's National Innovation Council (NIC) and the Ministry of Micro, Small and Medium Enterprises (MMSME) have together launched a new venture fund targeting INR50 billion ($792 million).
Suning acquires VC-backed group buying site Manzuo
Suning Commerce, a Chinese home appliance retailer, has acquired group buying site Manzuo.com. Transaction terms were not disclosed but the investment was said to facilitate a full exit for VC backer KPCB China.
Hong Kong-listed A8 commits to tech-focused Qingsong Fund
A8 Digital Music Holdings, a Hong Kong-listed media corporation, has committed RMB20 million ($3 million) to acquire an approximately 6% interest in Qingsong Fund II.
Legend re-ups in US sports tech manufacturer Zepp
Legend Capital has re-upped in athlete training technology developer Zepp Labs, participating in a $15 million Series B round of funding led by GGV Capital. Bertelsmann and Cherubic Ventures also committed capital.
CICC, Qianhai Financial Holdings launch $3.3b PE fund
China International Capital Corporation (CICC) has teamed up with Qianhai Financial Holdings, a wholly-owned unit of the Administrative Bureau of Qianhai, to launch a private equity fund, targeting RMB20 billion ($3.3 billion).
ASA calls for Billabong delay over Oaktree, Centerbridge deal
The Australian Shareholders Association (ASA) has called on Australian surf wear company Billabong International to delay a shareholder vote on a decision that could give PE creditors Oaktree Capital Management and Centerbridge Partners as much as 40.8%...
Blume Ventures leads seed round for India’s Turtle Yogi
Blume Ventures has led a seed round of funding for Bangalore-based Turtle Yogi Technologies, which runs cloud-based video calling service 1Click.io. Chennai Angels member R. Narayanan and Shead Holdings are also investors in the round.