Funds
Ex-Baidu executive raises $29m China business services fund
Longzhong Xinyi, a venture capital firm established by Hailong Xiang (pictured), formerly a senior executive at Baidu, has raised RMB200 million ($29 million) for its debut fund.
Lightspeed, Bosch lead $173m round for China's Hesai
Chinese smart sensor maker Hesai Technology has raised a $173 million Series C round led by Germany’s Bosch Group and existing investor Lightspeed China Partners.
VIG reaches $810m final close on fourth Korean fund
VIG Partners has closed its fourth Korea-focused fund at $810 million, with approximately half the commitments coming from international investors. This compares to 30% for Fund III, which closed at $600 million in 2017.
Timeline: 2019 by numbers
A selection of the key fundraising, investment and exit events - presented in chronological order - from the past 12 months
CPPIB to invest $225m in Bain, Piramal India distress fund
Canada Pension Plan Investment Board (CPPIB) has committed $225 million to India Resurgence Fund (India RF), a distressed assets investment platform established by Bain Capital Credit and Piramal Enterprises.
Indonesia's Alpha JWC Ventures closes second fund at $123m
Indonesia-based early-stage investor Alpha JWC Ventures has closed its second fund oversubscribed at $123 million.
AIIB backs two energy, infrastructure funds
China-headquartered Asian Infrastructure Investment Bank (AIIB) is set to anchor two private equity funds, including an energy-focused vehicle, with a total commitment of $125 million.
Australia's Blackbird completes Fund I strip sale
Australia’s Blackbird Ventures has completed a GP-led secondary transaction whereby StepStone Global and HESTA have acquired interests from its debut fund for approximately A$100 million ($69 million).
China's KeChow Pharma gets $45m Series C
Shanghai Kechow Pharma, a Chinese small molecule targeted drug developer, has raised a $45 million Series C round led by Decheng Capital.
China fabrics platform Baibu raises $300m
Baibu, a Chinese B2B trading and services platform for the textiles and fabrics industry, has raised a $300 million Series D round led by DST Global.
Fund focus: Azalea embraces equity with fund-of-funds offering
Temasek Holdings-owned Azalea Asset Management previously used debt structures to give high net worth investors PE exposure. Its $650 million fund-of-funds is the firm’s first direct equity offering
GP profile: CPE Capital
CHAMP Private Equity became CPE Capital earlier this year, following a leadership transition. The Australian GP has also refined its middle market investment strategy, emphasizing functional expertise
3one4 closes India venture, seed funds
India’s 3one4 Capital has closed its latest venture capital fund with INR4 billion ($57 million) in commitments and raised INR450 million for seed investment vehicle.
Chinese space launch provider get $71m Series C
Chinese commercial space launch service provider LandSpace has raised a RMB500 million ($71 million) Series C led by the VC arm of Hong Kong-listed property developer Country Garden.
China-Australia biotech fund raises $31m
UniSA Ventures, a tech commercialization unit of the University of South Australia, has secured A$45 million ($31 million) from a group of Chinese investors for an Australia-focused biotechnology fund.
Singapore's Vertex receives $180m for global fund-of-funds
Vertex Ventures, a VC arm of Singapore’s Temasek Holdings, has received commitments of $180 million from Japanese investors for a fund-of-funds that will support its global portfolio of VC vehicles.
Centurium seeks $2.5b for second China fund
China-focused private equity firm Centurium Capital is back in the market looking to raise $2.5 billion for its second US dollar-denominated fund, barely six months after reaching a final close on its first.
Apis closes Fund II at revised hard cap of $563m
Apis Partners has closed its second emerging markets-focused financial services and technology fund at the revised hard cap of $563 million. The initial target was $400 million.
CPPIB commits $600m to state-backed Indian infrastructure fund
Canada Pension Plan Investment Board (CPPIB) has agreed to invest up to $600 million in NIIF Master Fund, a rupee-denominated infrastructure vehicle anchored by the Indian government.
Circulate hits first close on Asian ocean protection fund
Circulate Capital, a Singapore-based investor dedicated to stemming plastic waste pollution in South and Southeast Asia, has reached a first close of $106 million for an ocean protection fund.
Prologis launches $1.7b China logistics fund
US-based logistics and supply chain investor Prologis has established a $1.7 billion China fund as part of a broader country expansion.
AIIB, Clifford Capital launch $2b infrastructure platform
The Asian Infrastructure Investment Bank (AIIB) and Clifford Capital, a Singaporean infrastructure investor, have jointly launched an approximately $2 billion debt platform.
Accel closes sixth India VC fund at $550m
Accel Partners has closed its sixth early-stage India venture capital fund with $550 million in commitments.
GLP launches $2.1b China logistics fund
GLP, a private equity-owned warehouse operator based in Singapore, has set up a China logistics fund at RMB15 billion ($2.1 billion).