Funds
MBK launches sixth North Asia fund, targets $7b
North Asia-focused buyout firm MBK Partners has set a target of USD 7bn for its sixth flagship fund, according to three sources familiar with the situation.
5Y seeks $700m for latest China VC fund
China-focused 5Y Capital has set a target of USD 700m for its latest venture capital fund – in line with what the manager raised in the previous vintage.
Korea's UCK Partners surpasses $770m on Fund III
UCK Partners, a South Korean private equity firm formerly known as Unison Capital Korea, has accumulated approximately KRW 1trn (USD 777m) across two incremental closes on its third fund.
Deal focus: Change at the margins for Proterra Asia
Proterra Asia has been investing in food and agriculture across the region for 13 years. This will continue, regardless of tweaks in management entity ownership and fund structure
India's Together seeks $150m for second VC fund
India’s Together Fund, an early-stage VC firm focused on artificial intelligence (AI) and software-as-a-service (SaaS), has reached a first close of undisclosed size on its second fund. The target is $150m.
Goodwater raises $1b across two funds
Goodwater Capital, a US-based VC firm with a presence in Korea and significant Asia exposure, has raised USD 1bn across two funds. It brings assets under management to USD 3.3bn.
Australia's Main Sequence hits $305m first close on Fund III
Australian deep tech VC firm Main Sequence has reached a AUD 450m (USD 305m) first close on its third fund, bringing overall funds under management to about AUD 1bn.
Mirae Asset PE arm seeks $200m for Fund II
Maps Capital, a private equity investment arm of Mirae Asset Financial Group, has launched its second US dollar-denominated fund with a target of USD 200m.
Japanese power producer Jera launches $300m VC unit
Japanese power producer and utility Jera has launched a USD 300m venture capital programme aimed at sustainability-themed technology start-ups and related funds.
Eurazeo draws on Asian support for $448m smart city fund
France-based GP Eurazeo won support from several Asian institutional investors for its latest smart city fund, which has closed on EUR 400m (USD 445m). The vehicle is also expected to deploy significantly in the region.
Asia fundraising frustrates in first half of 2023
Asia PE fundraising reached USD 60.3bn in the first half of 2023, down 7.6% year-on-year, but the total was still skewed upwards by activity in the renminbi-denominated space. Capital committed to US dollar funds alone was USD 21.8bn, down from USD 48.2bn....
Japan's Angel Bridge closes third fund on $72m
Japanese early-stage investor Angel Bridge has closed its third fund with JPY 10bn (USD 72m) in commitments from local investors.
China's Qiming appoints Qualcomm investor as venture partner
Qiming Venture Partners has appointed James Shen, previously a managing partner at Qualcomm Ventures, as a venture partner.
Fund focus: Australia's Next thrives under the radar
Next Capital claims to have relatively free rein in Australia’s underpenetrated lower middle market. Dedication to the opportunity set underpinned a painless fundraising process for its latest vehicle
Japan's 01Booster Capital closes debut fund
01Booster Capital, a Japanese accelerator and VC investor set up in 2012, has closed its debut fund at an undeclared size. It was launched in late 2021.
India's CapFort Ventures seeks $24m for debut VC fund
India’s CapFort Ventures, an early-stage VC firm set up this year by investors at local incubator Venture Catalysts, has launched its debut fund with a target of USD 24m.
Australia's Next Capital closes Fund V on $251m
Australia’s Next Capital has closed its fifth lower middle market buyout fund with AUD 375m (USD 251m) in commitments, beating a target of AUD 350m.
Hong Kong's VMS pursues institutional upgrade
VMS Group will reach out to fund-of-funds with China or regional mandates for its new flagship private equity fund, which is intended to mark the firm's transition from a platform that primarily serves Hong Kong family offices to one that is more institutional...
China's Principle Capital hits second close on dual-currency fund
Principle Capital, a Chinese private equity firm that has a strategic relationship with US-based Clayton, Dubilier & Rice (CD&R), has reached a second close of approximately USD 200m on its fifth fund.
China's FutureX closes Fund II on $150m
FutureX Capital, which makes growth-stage technology investments in China, has closed its second US dollar-denominated fund with commitments of approximately USD 150m.
500 Global backs debut fund from Singapore's First Move
500 Global has backed the debut fund raised by Singapore’s First Move, a pre-seed VC firm set up by former executives of Malaysian online-to-offline commerce services provider Fave.
Carlyle seeks up to $2.8bn for Japan fund
The Carlyle Group is looking to raise as much as JPY 400bn (USD 2.8bn) for its fifth Japan fund, a 55% increase on the previous vintage, in a move that underscores robust investor sentiment on the market.
Vertex China closes Fund V on $390m
Vertex Ventures China, an early-stage investor affiliated with Temasek Holdings-owned Vertex Holdings, has closed its fifth flagship fund with USD 390m in commitments.
Japan VC draws global attention - AVCJ Forum
Japan’s venture capital market is attracting increased international attention by virtue of its relatively stable returns and a start-up-friendly policy regime, investors told the AVCJ Private Equity & Venture Forum Japan 2023.