Funds
VC-backed Forgame targets $222m Hong Kong IPO
Forgame Holdings, a Guangzhou-based mobile game developer backed by several VC firms, plans to raise at least $222 million through an IPO in Hong Kong.
GGV invests in China LED producer's pre-IPO round
GGV Capital has made a pre-IPO investment in Sichuan Sunfor Light, a Chinese light emitting diode (LED) manufacturer. Terms of transaction were not disclosed.
Japan Private Equity holds $30m first close on Fund IV
Japan Private Equity (JPE) has held a JPY3 billion ($30 million) first close on its fourth buyout fund, JPE Private Equity No.4.
Australia’s Ironbridge offers LPs secondary exit route
Ironbridge Capital has launched a hybrid structure for its latest fundraising, with investors in the Australian GP’s first two funds being given the opportunity to exit their positions or roll over into a new vehicle that will continue to manage the...
New Zealand's Pencarrow acquires Bell Tea & Coffee
Pencarrow Private Equity has bought Bell Tea & Coffee Company (BTCC), New Zealand’s oldest tea enterprise, from supermarket chain Foodstuffs. Accident Compensation Corporation (ACC) is coming in as a significant co-investor, while BTCC’s senior management...
Chinese authorities detain ex-CDH executive Gongquan Wang
Gongquan Wang, founder of CDH Venture Capital, has been detained by Chinese authorities for alleged involvement of New Citizen’s Movement, a civil rights group advocating greater transparency in government. Wang left CDH two years ago.
KKR's Kravis bullish on Asia private equity, credit
Henry Kravis, co-founder of KKR, believes that Asia’s macro headwinds have created an attractive environment for private equity investment, although the asset class is just one of several strategies that feature in his longer-term outlook for the development...
WuXi PharmaTech-backed Foundation Medicine sets terms for $75m IPO
US cancer diagnostics firm Foundation Medicine, which counts the corporate venture fund of Shanghai-headquarted WuXi PharmaTech among its backers, has announced the terms for its US IPO.
Hong Kong investors contemplate "Silicon Harbour"
Hong Kong has the potential to become an innovation center for Asia, say industry participants, but not quite in the mold of Silicon Valley.
Intel Capital, AsiaVest to make partial exits from China's Montage via US IPO
Intel Capital and AsiaVest Partners will make partial exits from Montage Technology Group when the China-based semiconductor manufacturer completes its NASDAQ IPO.
Sequoia leads Series B round in China menstruation-tracking app
Sequoia Capital China has led a Series B round of founding for Dayima.com, a menstruation cycle-tracking mobile app. Existing backer Bertelsmann Asia Investments also participated in the round.
Affordable healthcare chain Glocal gets $4m from SIDBI VC
SIDBI Venture Capital has invested INR250 million ($3.93 million) in Glocal Healthcare Systems, which operates multi-specialty hospitals in semi-rural parts of East India.
Cogent adds to Shanghai team
Cogent Partners has appointed Dominik Woessner as a director in its Shanghai office. He has relocated from the secondary market-focused firm’s London office as part of ongoing efforts to develop its footprint in Asia.
Shunwei backs China child education app
Beijing Shunwei Venture Capital, founded by super angel investor Lei Jun, has committed a Series A round of funding for Babybus.com, which develops educational apps for children. Details of transaction were not disclosed but the investment size is said...
Australia's Wolseley targets $279m for Fund III
Wolseley Private Equity is targeting A$300 million ($279 million) for its third fund, which will invest in small to mid-size privately-owned businesses in Australia and New Zealand. The GP expects to see considerable opportunities in this space as founders...
Secondaries: Bifurcation point
More LP interests in Asian funds are coming onto the secondary market, but the region remains the industry’s future rather than its present. Which investors will be around to witness it coming to bloom?
RMB fund-of-funds: Patience is a virtue
As some global fund-of-funds struggle to raise funds, their renminbi counterparts are struggling to find a purpose – government-backed vehicles excepted. A more mature LP base should bring more demand
China Fortune Link to set up RMB VC fund in Qinghai province
China Fortune Link Fund Management has rolled out a RMB100 million ($16.3 million) venture capital fund to invest in Qinghai, a province located in China's far northwest.
Sequoia invests $10m in China personal finance site
Sequoia Capital has committed a total of $10 million across two rounds of funding for Feidee.com, a Beijing-based personal finance management website.
Indonesia flight booking service gets Series A round from Samwer brothers
Global Founders Capital (GFC) a VC firm co-founded by Rocket Internet’s Samwer brothers, has made its first Asia investment - committing an undisclosed sum to Indonesian flight search engine Traveloka.
Australia's BlueChilli targets $10m for angel fund
Australian venture firm BlueChilli is looking to raise a $10 million angel fund for early-stage tech investments.
CHAMP, Headland seek full acquisition of Miclyn Express Offshore
CHAMP Private Equity and Hong Kong's Headland Capital Partners have offered to buy the 24.8% of oil and gas services group Miclyn Express Offshore (MEO) they do not own for around A$150 million ($137 million).
Patni Brothers set up incubator for India big data start-ups
The co-founders of Nirvana Venture Advisors, brothers Arihant and Amit Patni, have set up Hive Technologies to help launch and fund Indian big data start-ups.
Hamilton Lane closes third secondaries fund at $900m hard cap
Hamilton Lane has held a final close of $900 million on its Hamilton Lane Secondary Fund III, surpassing the original target of $650 million.