Funds
BRI reaches first close on Indonesia fund
BRI Ventures, a unit of Bank Rakyat Indonesia has reached the first close of IDR150 billion ($11 million) on its locally incorporated tech venture fund.
MDI, Finch launch $40m ASEAN fund
MDI Ventures, the corporate VC arm of state-controlled Telkom Indonesia, has teamed up with financial technology investor Finch Capital to form a $40 million fund targeting early-stage investments in Southeast Asia.
CDH hits first close on China data center fund
CDH Investments has reached the first close of RMB1.5 billion ($228 million) on a data center industry fund. Part of the Chinese GP's mezzanine strategy, the vehicle has a full target of RMB2 billion.
COVID-19 credit strategies must be flexible – AVCJ Forum
COVID-19 has emphasized the need for patience and mandate flexibility in private credit, industry participants told the AVCJ Forum.
Warburg Pincus, Advantage honored at AVCJ Awards
Warburg Pincus and Advantage Partners triumphed in the firm of the year categories at the 2020 AVCJ Private Equity & Venture Capital Awards, with The Carlyle Group and Affinity Equity Partners also among the winners with two trophies apiece.
Large LPs willing to explore riskier growth options – AVCJ Forum
Institutional investors looking to diversify their growth portfolios are increasingly turning to technology and emerging managers, the AVCJ Forum heard.
Asia buyout managers see no shift in return targets - AVCJ Forum
Asia-focused buyout managers do not expect an economic downturn to impact the returns underwritten into investments at the portfolio level as long as leveraged financing remains competitively priced and new paths to liquidity continue to emerge.
Fund focus: Future Capital looks forward
Cloud-based infrastructure, logistics technology, mobility solutions and the internet of things are key themes for Future Capital as it begins to deploy its latest China-focused early-stage technology fund
China's Yingke raises $1.5b technology, healthcare fund
Shanghai-based Yingke Private Equity has raised RMB10 billion ($1.5 billion) for a fund that will focus on core technology and biomedical science assets in China.
Ascent closes debut Myanmar fund at $88m
Ascent Capital has closed its debut Myanmar growth fund with $88 million in commitments. It is said to be the largest private equity fund dedicated to the country.
China distressed asset manager DCL raises $455m
DCL Investments, one of China’s first private equity firms to focus on distressed assets, has raised RMB3 billion ($455 million) for its latest renminbi-denominated vehicle.
Hony closes debut China VC fund at $130m
Chinese private equity firm Hony Capital has closed its first venture capital fund at $130 million after approximately four months in the market.
Polaris hits hard cap on fifth Japan fund, prepares for final close
Polaris Capital Group has reached the hard cap of JPY150 billion ($1.4 billion) for its fifth Japan buyout fund and expects to announce a final close later this month, according to CEO Yuji Kimura.
IFM backs Australia SaaS player Zuuse
Australia’s IFM Investors has invested about A$50 million ($36 million) in local industrial software-as-a-service (SaaS) start-up Zuuse.
SSIAM, Daiwa hit first close on Vietnam fund
Hanoi-based SSI Asset Management (SSIAM) and Japan’s Daiwa Securities Group have reached a first close of undisclosed size on their third joint Vietnam private equity fund. The target is $100 million.
China's Bits x Bites hits first close on second food tech fund
Chinese food and agriculture technology investor Bits x Bites has reached a first close of $30 million on its second VC fund. The target is $70 million.
Lombard targets $250m for fifth Asia fund
Southeast Asia-focused private equity firm Lombard Investments has launched its fifth flagship growth capital fund with a target of $250 million.
Hong Kong's MindWorks seeks $150m for Fund IV
Hong Kong-headquartered VC firm MindWorks Capital expects to launch its fourth fund in the first half of next year with a target of $150 million.
Fund focus: Secondaries drive Ping An unit's transition
China Ping An Insurance Overseas Holdings has aspirations to manage assets for third-party investors. Spinning out part of the global private equity portfolio may help it get there
Japan fundraising: Middle-market machine
Buoyed by strong macro fundamentals and robust returns, Japan’s buyout managers continue to attract capital while most other strategies across Asia struggle. Will this popularity be sustained?
TCDRS backs trio of Hillhouse funds
Texas County & District Retirement System (TCDRS) has put $200 million towards Hillhouse Capital’s latest Asia fundraising effort, committing to three separate funds.
Legend Star raises $119m for fourth renminbi fund
Legend Star, the early-stage investment arm of China’s Legend Holdings, has raised RMB800 million ($119 million) for its fourth renminbi-denominated fund.
Japan's Genesia Ventures closes second fund at $75m
Japanese early-stage investor Genesia Ventures has reached a final close of $75 million for its second fund, doubling the size of the previous vintage.
India's Taxmantra launches Singapore VC unit, $100m fund
Indian tax and legal services firm Taxmantra Global has launched a Singapore-based VC unit called ProfitBoard Ventures and established a debut fund with $100 million in commitments.