Funds
Accel raises $650m for seventh India fund
Accel Partners has raised USD 650m for its seventh India VC fund, which will also make early-stage investments in Southeast Asia. The firm’s total assets under management in the region now top USD 2bn.
China's Qiming recruits partner from LACERA
David Chu, formerly of Los Angeles County Employees Retirement Association (LACERA), has become a partner at China-based Qiming Venture Partners with responsibility for fundraising and investor relations.
Australia's BGH closes Fund II on $2.6b
BGH Capital has closed its second fund on approximately AUD 3.6bn (USD 2.6bn) after fewer than six months in the market. It represents the largest-ever private equity vehicle raised for deployment in Australia and New Zealand.
AVCJ Awards 2021: Fundraise of the Year – Large Cap: KKR
Working around travel restrictions and reaching into the high-net-worth segment were key themes as KKR raised USD 15bn for its fourth pan-Asia fund, the largest vehicle of its kind to date
Q&A: Sylvan Group’s Gerald Leong
Gerald Leong, a 25-year veteran of Asian private equity, believes returns-focused impact investment is the future of the industry. His new firm, Singapore-based Sylvan Group, will attempt to prove it
Australia VC: An ideal match?
Having backed Australian VCs for Hostplus, Neil Stanford is now raising a fund-of-funds with a view to catalysing a state-wide start-up ecosystem. A preferred return structure is being used to lure LPs
Hong Kong's Future Fund to set up tech investment pool
A HKD 5bn (USD 640m) strategic tech fund will be established under Hong Kong’s Future Fund as part of an initiative to make direct investments that underpin the territory’s status as a hub for finance, commerce, and innovation as well as generate...
Crescendo closes third Korea fund on $910m
Korean middle-market private equity firm Crescendo Equity Partners has confirmed a final close of USD 910m on its third flagship fund, beating a target of USD 700m.
Investcorp seeks $400m for India private equity fund
Investcorp is targeting USD 400m for its third India private equity fund as part of efforts to quadruple its assets under management (AUM) in the country to USD 2bn within six years.
India's IvyCap secures foreign LP backing for Fund III first close
India’s IvyCap Ventures is progressing on efforts to diversify its LP base, with 15% of the first close commitments in Fund III coming from international investors, while many of its domestic institutional backers re-upped.
Ex-Hostplus PE head launches state-level early-stage fund
V-Ignite, an investment firm established by the former PE and VC head at Australian superannuation fund Hostplus, is looking to raise AUD 120m (USD 86m) for a fund-of-funds that will support managers in the state of Victoria.
PEP targets $742m for second Australia secure assets fund
Australia’s Pacific Equity Partners (PEP) is preparing to launch its second secured assets with an AUD 1bn (USD 724m) target while planning to spin out one of the top-performing Fund I investments into a single-asset continuation vehicle.
CLSA launches $500m China growth fund
CLSA Capital Partners (CLSA CP) has launched a China growth fund focused on healthcare, smart manufacturing, renewable energy, tech-enabled media. The target is USD 500m.
GP profile: Creador
Creador claims to be Southeast Asia’s only middle-market GP with on-the-ground capacities across the region. But in-house post-deal support and nimble deal sourcing are its key differentiators
Huaxing Growth hits $800m second close on China fund
Huaxing Growth Capital, the private equity division of China Renaissance, has achieved a USD 800m second close on its fourth flagship US dollar-denominated fund.
IFM's decarbonisation credentials attract Australian LPs
Australia’s Clean Energy Finance Corporation (CEFC) has committed AUD 80m (USD 57.5m) to IFM Investors’ mid-market growth fund, which achieved a second close of AUD 380m at the end of 2021.
India's Chiratae seeks USD 700m for VC, growth funds
Chiratae Ventures is looking to raise USD 700m for deployment in India’s technology sector with the addition of an opportunity fund – to participate in mid to late-stage rounds – alongside its core VC vehicle.
Singapore's Sylvan buys four local healthcare companies
Sylvan Group, a Singaporean private equity firm set up by Hyundai scion Kyungsun Chung, has acquired majority stakes in four local healthcare companies for USD 140.5m. These represent its first investments.
Australia impact GP hits $48m first close on debut fund
Australian impact investment firm For Purpose Investment Partners (FPIP) has reached a first close of AUD 67m (USD 48m) on its debut fund, which has an overall target of AUD 250m.
LP interview: Adams Street Partners
Adams Street Partners believes having a close-knit Asia team, which cuts across geographies, sectors, and stages, informs a big-picture view that enables it to look beyond near-term dislocations
Fund focus: Ion Pacific goes institutional
Pitching a niche VC capital secondaries strategy with a meaningful focus on Asia isn’t easy, but Ion Pacific raised nearly 4x more than last time with large family offices well-represented in the LP base
KKR to raise Asia growth fund in 2022
KKR expects to raise a growth-stage fund in Asia – first flagged more than two years ago – in 2022 as part of ongoing efforts to boost its presence in the region across multiple strategies.
Altara raises $130m for Southeast Asia VC fund
Altara Ventures, a Singapore-based firm set up in 2020 by Boon Hwee Koh, former chairman of Singapore Airlines, Singapore Telecom, and DBS Bank, has closed its debut fund at USD 130m.
Coller secures $1.4b for global credit secondaries fund
Coller Capital has raised approximately USD 1.4bn for its debut global private credit secondaries fund, said to be the largest pool of capital dedicated to the strategy.