Funds
Hillhouse establishes China VC unit
Hillhouse Capital has launched a China venture capital arm under the name GL Ventures. The first fund will reportedly be RMB10 billion ($1.4 billion) in size.
CMC raises $950m for third China fund
CMC Capital Partners, a Chinese private equity firm set up by Ruigang Li (pictured), formerly president of Shanghai Media Group (SMG), has closed its third US dollar-denominated fund with more than $950 million in commitments.
Minnesota SBI backs KKR's Asia fund
Minnesota State Board of Investment (SBI) is looking to commit $150 million to KKR’s fourth pan-Asian fund. This represents a step up from the $100 million it put into the manager’s previous vehicle.
India’s Blume closes Fund III at $102m
Indian venture capital investor Blume ventures achieved a final close of $102m on Blume Ventures Fund III, its third early-stage fund.
Tata Opportunities Fund team targets spin-out
The Tata Opportunities Fund (TOF) team is poised to spin-out after Tata Capital – a wholly-owned unit of India’s Tata Group – decided it did not want to continue sponsoring the franchise for a second fund.
HighLight hits $300m first close on China healthcare fund
Chinese healthcare-focused GP HighLight Capital has reached the first close of $300 million on its third US dollar-denominated fund, but further progress is likely to be delayed by the coronavirus outbreak.
CICC raises $229m for China healthcare fund
China's CICC Capital has raised RMB1.6 billion ($229 million) for its first fund dedicated to the biopharmaceutical space.
India’s Inflexor seeks $100m for debut fund
Inflexor Ventures, a recently established venture capital firm, is looking to raise $100 million for its debut fund, which will focus on early-stage deals.
KKR raises $1.3b for global impact fund
KKR has closed its debut global impact investment fund with $1.3 billion in commitments. It will back companies that provide commercial solutions to environmental or social challenges, based on criteria set out in the UN sustainable development goals...
Hamilton Lane backs Legend Capital fund restructuring
Hamilton Lane has led a $200 million restructuring of a VC fund managed by China-based Legend Capital, transferring 12 investments into a new vehicle as a means of extending the holding period.
VC and age: No industry for old men
The trendy, shape-shifting world of venture capital is broadly seen as a young person’s game, although hard evidence to this effect remains in scarce supply
Sequoia seeks up to $1.35b for India, Southeast Asia
Sequoia Capital is looking to raise between $1.28 billion and $1.35 billion for its latest set of funds – comprising separate venture and growth vehicles – for deployment in India and Southeast Asia.
CDPQ, Piramal commit $300m to India private credit
Caisse de depot et placement du Quebec (CDPQ) and an asset management division of Piramal Enterprises have jointly committed $300 million to an Indian private credit platform.
Private credit: Untapped market
Recent industry feedback suggests middle-market companies across Asia will increasingly look to private credit to support future growth. Europe may offer clues as to how the expected uptake will unfold
Japan's SBI seeks $920m for technology fund
SBI Investment has launched a technology-focused VC fund, known as 4+5 Fund, with a target of JPY100 billion ($920 million).
Caldera signs up French anchor LP for Southeast Asia fund
Caldera Pacific, a consumer-focused Southeast Asian private equity firm, has secured $250 million in commitments for its debut fund, with France-based investor Argenthal coming in as an anchor LP.
AVCJ Awards 2019: Fundraising of the Year - Mid Cap: ChrysCapital Partners
ChrysCapital Partners completed a quickfire fundraise with the support of a handful of big-ticket LPs. The India-focused firm is now eyeing up bigger-ticket deals
ADB launches venture arm
The Asian Development Bank (ADB) has launched a VC arm focused on climate change-related technologies and women’s empowerment in the region.
Blackstone to launch second Asia fund in 2020
The Blackstone Group expects to return to market in 2020 with its second dedicated Asia private equity fund, less than two years after closing the debut vehicle.
India's JSW Ventures seeks $50m for second fund
A corporate venture capital unit of India's JSW Steel is looking to raise INR3.5 billion ($50 million) for its second fund, with a first close scheduled within a fortnight.
MBK wins US pension support for Asia fund
MBK Partners has picked up commitments from New York State Common Retirement Fund (NYSCRF), New York State Teachers’ Retirement System (NYSTRS), and Los Angeles County Employees Retirement Association (LACERA) for its fifth North Asia fund.
AVCJ Awards 2019: Fundraising of the Year - Venture Capital: A91 Partners
A91 Partners’ spinout from Sequoia Capital showcases the deepening networks of the Indian VC space and hints that more ecosystem growth is yet to come
Northstar seeks $800m for Southeast Asia fund
Northstar Group, a Southeast Asia-focused private equity firm that counts Indonesia as its core market, is looking to raise $800 million for its fifth fund, according to sources familiar with the situation.
Fund focus: Baring sees stability in scale
Jean Eric Salata, CEO of Baring Private Equity Asia, argues that a $6.5 billion fund is not too large for Asia – he wishes he’d raised more – and explains why size increasingly represents a competitive advantage