Funds
HarbourVest promotes three in Asia Pacific team
Tim Flower, who moved to Hong Kong in 2010 to head up HarbourVest Partners’ secondary investments in Asia, has been promoted to principal. Two other Asia-based executives, Kelvin Yap and Maggie Chan, have been named vice presidents.
H&Q to launch first renminbi fund
H&Q Asia Pacific is looking to tap Chinese institutions and individuals as LPs for its first renminbi-denominated fund.
Smartphone maker Xiaomi secures $90m in VC funding
Chinese smartphone startup Xiaomi Technology has raised $90 million in funding, which values the company at $1 billion. Existing investors Morningside Technologies, Qiming Ventures and IDG Ventures participated in the financing round as well as new participants...
Qiming leads $10m Series A round for Appconomy
Qiming Ventures has led a $10 million Series A round of equity and debt funding in mobile application developer Appconomy. The funds will be used to accelerate the firm’s expansion in China.
Morgan Stanley to invest $125m in Indian real estate project - sources
Morgan Stanley’s global real estate fund is reportedly in negotiations with Mumbai’s Sheth Developers to invest $100 million to $125 million in a local residential project.
Archer Capital closes fifth fund at $1.5b
Australia’s Archer Capital has closed its fifth fund at A$1.5 billion ($1.52 billion), having spent less than four months in the market. The vehicle, which counts domestic and international institutions among its investors, was significantly oversubscribed....
Accel takes stake in Trivone Digital
Venture capital firm Accel Partners has invested an undisclosed amount for a minority stake in Bangalore-based digital media content provider Trivone Digital.
Venture fund to target India's neglected Dalit people
The Dalits, a group that faced years of prejudice at the bottom of India’s caste system, are set to benefit from the country’s first ever venture capital fund focusing solely on Dalit-owned enterprises. It plans to support a combination of start-ups and...
IDG-Accel China Growth Fund invests $10m in BlueSprig
San Francisco-based software application provider BlueSprig has received a $10 million Series A round of funding from IDG-Accel’s China Growth Fund. The vehicle, managed by IDG Capital Partners, invests in consumer tech companies with a link to China....
TPG acquires 20% of MediaWorks' senior debt for $54m
TPG has acquired NZ$70 million ($54.1 million) worth of debt in New Zealand-based MediaWorks from lender Commonwealth Bank of Australia (CBA), accounting for approximately 20% of the company’s full debt load.
Southern Cross to run Australian state-backed VC fund
VC firm Southern Cross Venture Partners has secured the mandate to run the Australian government’s first renewable energy venture fund, the REVCF.
The year that was
Asia’s private equity industry began 2011 on a high. With the recession apparently in the tail view mirror, Asian investors were rearing to invest and raise – as were global investors, who were energized by the prospects of the region’s top markets, growth...
BVP India invests in Indian dialysis clinics
Many entrepreneurs within growth-stage firms claim to live and breathe their business propositions. One company founder, Kamah Shah, takes this adage to the next level, however, as his reliance on kidney dialysis machines sees him undergoing the treatment...
Kotak Realty raises $98.2m for properties fund
Kotak Realty Fund has raised INR5.23 billion ($98.2 million) from domestic LPs for a fund that will provide high-yield debt instruments to real estate developers.
TPG considers investment into Takefuji - report
TPG may be considering making a much-needed investment into debt-ridden Japanese consumer lender Takefuji, coming as the latest effort to prevent the firm from liquidating.
Sequoia, Zhenfund team up to launch $30m VC fund
Sequoia Capital China and angel investor Zhenfund have teamed up to launch a RMB200 million ($30 million) venture fund, aimed at providing seed funding to start ups.
CVC said to offer Nine's creditors second refinancing plan
CVC Asia Pacific has reportedly offered creditors another refinancing plan for the A$2.6 billion ($2.7 billion) of debt held by its Australian portfolio company, Nine Entertainment, coming after lenders rejected CVC’s proposal of granting the firm a two-and-a-half-year...
Pencarrow fund holds first close on $59m
New Zealand-based Pencarrow Private Equity has held a first close of its fourth private equity fund on NZ$77 million ($59 million).
Shanghai announces initiatives to foster VC tech investment
Shanghai’s local government has unveiled a multi-tiered plan aimed at encouraging venture capital investment into early stage, locally based technology companies.
Nine's creditors reject debt restructure plan
The creditors of Australian media group Nine Entertainment have rejected a proposal to restructure the company’s A$2.6 billion ($2.59 billion) of senior debt, potentially jamming Nine’s private equity owner, CVC Asia Pacific, with nearly $2 billion in...
IIF program to invest $102m in Australian venture
The Australian government has announced plans to provide venture capital funds with up to A$100 million ($102 million) of capital via its Innovation Investment Fund (IIF) program.
The Founders Fund plans Australian startup fund
US venture capital firm The Founders Fund is reportedly planning to create a vehicle which will invest in Australia-based startup companies.
NZVIF to invest $6m in start-ups
The New Zealand Venture Investment Fund (NZVIF) is making plans to invest up to NZ$8 million ($6 million) in New Zealand-based start-up firms.
Ex-Temasek exec launches Kedaara Capital with CD&R
Manish Kejriwal, the former head of Temasek India, is said to be counting Clayton, Dubilier and Rice (CD&R) among the investors of his new fund manager, Kedaara Capital.