Funds
Deal focus: Olympus credit team spins out, gets OMERS backing
Olympus Capital Credit has rebranded as Orion Capital Asia, with OMERS replacing Olympus as the firm’s equity partner. The strategy is unchanged, with COVID-19 helping to drive deal flow
AVCJ Awards 2020: Fundraising of the Year - Large Cap: The Carlyle Group
With twice as much dry powder as in its previous Japan vintage, The Carlyle group expects mega-deals and private equity participation to increase
Fund focus: LPs flock to Lake Bleu’s late show
Lake Bleu Capital leveraged a lift in Chinese healthcare sentiment to raise $560 million for a fund that will target late-stage healthcare investments
Qiming raises $441m for its sixth renminbi fund
Qiming Venture Partners has closed its sixth renminbi-denominate vehicle at RMB2.85 billion ($441 million), taking the firm's total assets under management to $5.9 billion.
Hong Kong's E15 VC closes second fund at $32m
Hong Kong technology investor E15 VC, also known as E15 Ventures, has closed its second fund at $32 million with a $15 million contribution from Sun Hung Kai & Co (SHK).
Fund focus: Firstred's advisory angle
Firstred Capital has already completed six deals from its debut fund, making commitments that are flexible in structure to Chinese companies that need its M&A expertise
AVCJ Awards 2020: Fundraising of the Year - Mid Cap: Ascendent Capital Partners
A $500 million investment in Wumart is the exception rather than the rule for Ascendent Capital Partners’ third China fund, but the digital transformation theme is a constant
Fund focus: Novo Tellus closes second Southeast Asia fund at $250m
Although its second fund is considerably larger than its first, Novo Tellus Capital Partners expects to target the same kind of Southeast Asian industrial technology businesses that have succession and expansion issues
Tower Capital hits first close on Southeast Asia fund
Tower Capital, a Singapore-based GP that previously operated on a deal-by-deal basis, has achieved a first close of approximately $250 million on its first Southeast Asia-focused private equity fund.
Fund focus: Endiya sees India’s early-stage upside
Having scaled up in fund size to $75 million for its second vintage, Endiya Partners is looking for opportunities in an increasingly attractive yet competitive Indian start-up ecosystem
Pathway promotes head of Hong Kong office
Simon Lau, who has led the Asian operations at fund-of-funds Pathway Capital Management since 2012, has been promoted to managing director.
Lake Bleu raises $560m for Asia pre-IPO healthcare fund
Lake Bleu Capital, a Hong Kong-based private equity investor focused on healthcare, has raised $560 million for a pre-IPO fund targeting Asia with an emphasis on Greater China.
AVCJ Awards 2020: Fundraising of the Year - Venture Capital: Ince Capital Partners
A year after leaving Qiming Venture Partners, J.P. Gan raised $351.9 million for his debut fund at consumer internet-focused Ince Capital Partners
China's Firstred targets $500m US dollar fund
Firstred Capital, a Chinese private equity firm established by M&A veteran Xiaodan Liu, is looking to raise approximately $500 million for its debut US dollar-denominated fund.
SEAF hits first close on Southeast Asia women’s fund
The Southeast Asia division of US-headquartered impact private equity firm SEAF has reached a first close of at least $16 million for a women’s economic empowerment fund.
Fund focus: Oceanpine opens to external capital
Technology and healthcare-focused Oceanpine Capital sees the large GP commitment to its fund and the network of its founder as key differentiators in a competitive Chinese market
Silver Lake raises $20b for global tech fund
Silver Lake has closed its sixth global buyout fund at the hard cap of $20 billion as the US tech investor exhibits a growing appetite for mega-deals in Asia. Its prior vintage raised $15 billion in 2017.
Fund focus: Asian LPs amplify Mekong’s ambitions
Travel restrictions forced Mekong Capital to look closer to home when raising its latest fund, but the manager was already building out a more Asia-centric LP base
China’s CICC raises $650m for biomedical fund
CICC Capital has reached a second close of RMB4.2 billion ($650 million) on its latest healthcare fund - the first in China to receive fast-track approval for its role in addressing COVID-19.
Hong Kong's ORI hits first close on Fund II, exits Kymab
Hong Kong healthcare-focused VC firm ORI Capital has reached a first close of $112 million on its second fund and exited its largest investment, UK biotech developer Kymab, as part of a $1.1 billion deal.
Cathay closes second innovation fund $789m
Cathay Capital has raised EUR650 million ($789 million) for its second innovation fund, which supports start-ups in China, Europe, and North America.
Portfolio Advisors promotes Asia fundraiser
Portfolio Advisors has promoted Chris Choi, who is responsible for business development and client services in Asia, from senior vice president to managing director.
KKR closes Asia infrastructure fund at $3.9b
KKR has reached a final close on its first Asia Pacific-dedicated infrastructure fund at the hard cap of $3.9 billion. It is being called the largest pan-regional infrastructure fund ever raised.
China's Firstred closes debut renminbi fund on $1b
Firstred Capital, a Chinese growth and buyout investor in healthcare, consumer products and services, and industrial technology, has closed its debut fund with RMB6.8 billion ($1 billion) in commitments.