Funds
India's SMS GupShup shop gets $12 million VC investment
Globespan Captial Partners, a US IT-focused firm, Charles River Ventures, a US early stage venture firm and Helion Venture Partners, an India-focused venture firm, jointly injected $12 million into SMS GupShup, India's largest social network operator....
Istithmar's Jackson resigns
David Jackson, hitherto CEO of Dubai World investment division Istithmar World, has stepped down, with Istithmar CIO Andy Watson taking his place.
To market, to market, to market we go
Last year, in the first half of 2009, private equity fundraising fell 60-70% according to various estimates. This year, executives in private equity all seem to be racking up the air miles, on a mission to convince LPs around the world that they have...
Darby Overseas invests $33.5 million in PECH
Darby Overseas Investments, the private equity and mezzanine arm of Franklin Templeton Investments, has provided a $ $33.5 million senior secured convertible loan to PECH Holdings, a PRC alternator maker.
PEP powers up control
At first glance, Australian private equity major Pacific Equity Partners’ (PEP) determined takeover bid for Australian renewable energy company Energy Developments (ENE) – even though it has recently expanded its shareholding to more than 50% after buying...
Cohen at the gates of the China Club
One of the iconic figures of private equity’s LBO glory days in the 1980s, and co-star of Barbarians At The Gates, Peter A. Cohen, former chairman and CEO of Shearson Lehman Hutton, was in Hong Kong this week on behalf of his new firm, Cowen Group, and...
Carlyle's BJ RMB MOU breaks cover
The Carlyle Group’s recent announcement of its MOU with the Beijing Municipal Bureau of Financial Work, a division of the Beijing municipal government, to form a Beijing-based RMB fund, the Carlyle Asia Partners RMB Fund, has attracted considerable attention...
Carlyle promotes for prospects in Asia
The Carlyle Group has made a number of key senior promotions in its Asia Pacific team, part of a global round of 33 elevations across the group announced this month.
Mount Kellett said retrenching
Mount Kellett Capital Management, the special situations fund founded by former Goldman Sachs proprietary investment star Mark McGoldrick, has reportedly cut the headcount in its 30-person Hong Kong office by up to one third, with most or all of these...
Japan's venture market depressed
The Japan Venture Capital Association has reported that venture capital investment made in 2009 fell by about 40% to ￥37.8 billion ($417 million) over 472 deals from one year ago, an even more marked sharp drop compared with 2007, when VCs invested about...
Aditya Birla makes $248m first fund close
Mumbai-based Aditya Birla Private Equity, a subsidiary of Indian multinational conglomerate Aditya Birla Group, has raised INR6.75 billion ($148 million) for the first close of its debut fund from domestic LPs, as well as $100 million from its parent...
Carlyle to get Buy The Way?
The Carlyle Group has emerged as one of the potential bidders in the final round of the auction of Buy The Way, a South Korean convenience store chain owned by Asia-focused private equity fund Unitas Capital.
Chongqing fund hits hot sector in China – education
Chinese investment firm Huiou (Chongqing) Equity Investment Co. has launched the Education Equity Investment Fund, claimed to be China’s first education-focused fund, aiming to raise RMB5 billion ($735 million) for pre-IPO investments in the sector.
Ant seeks foreign LPS
Japanese private equity firm Ant Capital Partners is aiming to raise ￥20 billion ($219 million) for its new buyout fund Catalyzer series No.4, from overseas as well as local LPs.
Lunar Capital triples up
Shanghai-headquartered private equity firm Lunar Capital Management has raised $150 million for its third fund, Lunar Capital Partners III, after fundraising started last autumn.
Korean government backs local venture
Korea Venture Investment Corporation (KVIC), a South Korean government-backed fund of funds, and Korea’s Small & Medium Business Administration, have jointly raised KRW200 billion ($178 million) for their new vehicle, first launched a year ago.
ARC partners with Westly for RMB cleantech
California-based venture firm Westly Group is partnering with ARC China Holdings, a Hong Kong-based fund manager, to launch an RMB-denominated private equity fund, in the continuing trend to create RMB partnerships between Greater China funds and foreign...
Venture Q&A: Peter Wagner
Rebecca Fannin recently chatted with Accel Partners’ Peter Wagner, who heads up the investment firm’s strategy in India.
CDH fund oversubscription reports denied
Leading PRC alternative assets fund manager CDH Investments, according to media reports, was said to be collecting up to $1.6 billion for its CDH China Fund IV, well above the putative c.$1.4 billion target.
Sequoia stimulates Chinese men's fashion interest
Leading VC Sequoia Capital China Fund has reportedly made another Chinese e-commerce investment following OkayBuy.com, this time in high-end online menswear retail brand Masa Maso.
Carlyle announces Beijing RMB fund
The Carlyle Group has announced an MOU to form a Beijing-based RMB fund in partnership with the Beijing Municipal Bureau of Financial Work.
Venture bounces back – for some
Amid all the gloom and despondency over fundraising, especially in once-favored sectors like venture capital, it’s good to see an outsize success – especially when the firm in question is a long-time Asia investor.
NEA kicks the slump
The world’s largest VC firm, New Enterprise Associates, has announced the final close of its latest global fund, New Enterprise Associates XIII, at just under $2.5 billion, bringing its total committed capital to some $11 billion.
Rebecca Xu of Asia Alternatives on China
Rebecca Xu, one of the three co-founding MDs of independent fund of funds Asia Alternatives Management, describes her firm's edge in the PRC market and her assessment of the opportunities and developments there.