Funds
S3 Investment launches Redwood Fund for China
OTC-quoted S3 Investment Company, a US investment banking and financial advisory firm seeking to tap the PRC market, has announced the launch of its Redwood Asia Fund, a growth capital private equity fund targeting opportunities in China and Mongolia....
TSMC invests China VC fund
Taiwan Semiconductor Manufacturing Co (TSMC), one of Taiwan's largest listed chipmakers, said it has received a regulatory green light to invest $5 million in a new Chinese VC fund that targets chip design start-ups in the PRC semiconductor industry....
Iglesias, Humphreys, Fleming aim for Continuity
Ovidio Iglesias, Bill Humphreys and Grant Fleming, three of the senior fund management professionals most recently associated with Wilshire Private Markets, have announced their own independent vehicle, Continuity Capital Partners.
Nomura poaches Mount Kellett's Dayal
Nomura has hired Prasoon Dayal, hitherto with Mount Kellett Capital, to create an Asia Pacific primary private credits business.
Tata Capital gets Rajan as Managing Partner
Tata Capital, the financial services division of Indian conglomerate Tata Sons Ltd., has appointed Dr. Mukund Govind Rajan, hitherto MD of Tata Teleservices Maharashtra Ltd., as Managing Partner for its new private equity fund.
Barclays Capital arm backs Oz Hydra Energy
Barclays Natural Resource Investments, a division and co-investment partner of Barclays Capital, is backing the formation of Hydra Energy, a petrochemicals start-up seeking undeveloped or late-life oil and gas assets in Australia.
Queensland biotech fund gets Eli Lilly backing
The government of the Australian state of Queensland has partnered with pharmaceutical giant Eli Lilly & Co. to launch a $250 million biotech and life sciences VC fund.
Blackstone opens Oz office
The Blackstone Group has announced the opening of an office in Australia to capitalize on local LBO opportunities.
Edelweiss, Elephant join Axis Private Equity bidding
Two more bidders for Axis Private Equity, the private equity arm of Axis Bank, have been identified as Mumbai financial services group and special situations investor Edelweiss Capital and AIM-listed private equity firm Elephant Capital.
IL&FS plans $300-350 million growth fund
Leading Indian private equity investor IL&FS Investment Managers Ltd. is targeting $300-350 million for a new growth equity fund, to commence raising at end 2010.
CX closes on $515 million
CX Partners, the Indian private equity firm headed by former CVC International India head Ajay Relan, has closed its debut fund at $515 million.
IL&FS, Darby, others bid for Axis Private Equity
Six bidders, including veteran Indian private equity firm IL&FS Investment Managers and Darby Private Equity, as well as Aditya Birla Private Equity and Shapoorji Pallonji Group, are apparently bidding for Axis Private Equity, following parent Axis Bank's...
IDFC Project Equity appoints Aggarwal MD Investments
Leading Indian infrastructure investor IDFC Project Equity has announced the internal promotion of a senior member of its energy team, Aditya Aggarwal, to the post of managing director in charge of investments.
GE, CNOOC plan JV fund
PRC petrochemicals giant China National Offshore Oil Corp. (CNOOC) and General Electric Co. are in discussion to create a 50:50 JV private equity fund in the RMB3 billion ($440 million) range, according to PRC press reports.
Goodman and CPPIB launch joint fund
Goodman Group, Australia's largest industrial property trust, and the Canada Pension Plan Investment Board (CPPIB) announced the formation of a joint Australia-focused fund with with a target gross asset value of around A$400 million ($350 million).
SAIF eyes June close, major RMB fund
SAIF Partners is close to the long-anticipated $1 billion close of its SAIF Partners IV fund, expecting a result by end June, and is planning its biggest RMB fund to date as a follow-on, according to reports.
Russell appoints new Oz real estate research senior
Russell Investments, the US-headquartered global investment advisor, has appointed Samantha Steele as a senior research analyst in Australia, focusing on real estate and private equity manager research in Asia and Australasia.
Shenzhen Oriental Fortune Capital raising its debut fund
Shenzhen Oriental Fortune Capital, a Chinese VC firm, is reportedly raising its first $100 million fund.
Celaya made fundraising head for IFC AM
Haydee Celaya, the former Director of the Private Equity and Investment Funds Department at the International Finance Corporation (IFC), has been appointed Head of Fund Raising and Marketing for IFC Asset Management Company, the IFC subsidiary managing...
Clearwater ups Sayaji Hotels stake
Clearwater Capital Partners has raised its stake in Indian hotel chain Sayaji Hotels from just under 8.5% to 32.87% through convertible bonds, and is due to launch an open offer for a further 20%.
Industry Q&A: Myo Capital
Justin Ferrier and Geoff Lee, founding Managing Directors at Hong Kong-based distressed and special situations firm Myo Capital, spoke to AVCJ soon after receiving a $150 million anchor commitment from DBS.
Keeping LPs happy
The due diligence process has always played an important role for LPs when choosing funds to back.
Sequoia invests Axtria
Sequoia Capital India has led a $2.5 million Series A funding round into Axtria Inc., a business analytics provider founded by serial entrepreneurs Jaswinder S Chadha and Navdeep S Chadha.
Quam Suzhou RMB fund makes first deal
The Suzhou QUAM-SND Venture Capital Enterprise, an RMB VC fund formed by a unit of Hong Kong-listed financial services group Quam Ltd., has announced its first investment, an RMB50 million ($7.3 million) growth capital commitment to PET bottle manufacturer...