Funds
IFC to back Mekong's latest Vietnam fund
IFC has proposed to invest up to $30 million in the latest fund from Vietnam-based private equity firm Mekong Capital.
China's Loyal Valley closes second US dollar fund at $465m
China’s Loyal Valley Capital has closed its second US dollar-denominated fund at $465 million. The target was $400 million with a hard cap of $440 million.
Vietnam's FEBE Ventures launches $25m fund
FEBE Ventures, a Vietnam-based early-stage investor set up earlier this year, has launched a $25 million for targeting local and cross-border technology start-ups.
Japan's J-Star closes fourth fund at $443m
Japanese private equity firm J-Star has closed its fourth middle-market fund at the hard cap of JPY48.5 billion ($433 million), up from JPY32.5 billion in the previous vintage.
Australia launches $365m fund to support SMEs
The Australian government has launched a A$540 million ($365 million) growth fund to support small and medium-sized enterprises (SMEs), with commitments coming from the country's largest banks.
India middle market: Polarization point
Increased deal flow towards the top end of India’s private equity market is stretching the capacity of mid-tier local managers. What are the implications for co-investment and fund size?
Chinese gas station platform raises $110m Series C
Newlinks Group, operator of the Chezhubang platform that helps drivers in China locate the best value gas stations, has raised a $110 million Series C round led by Joy Capital.
MBK sets $6.5b hard cap for fifth North Asia fund
MBK Partners is looking to become the sixth pan-Asian private equity manager to cross the $6 billion threshold, having set the hard cap for its fifth fund at $6.5 billion.
Chinese cancer database provider secures $140m
Medbanks, a Chinese oncology database platform, has raised around RMB1 billion ($140 million) in an extended Series D funding round led by Tencent Holdings and Wu Capital.
China's MSA Capital, Bahrain bank launch $50m VC fund
Beijing-based MSA Capital and Al Salam Bank-Bahrain have set up a $50 million VC fund that will target cross-border opportunities between China and the Middle East and North Africa (MENA) region.
China targets $7b security industry fund
China Reform Holdings, a state-owned fund manager with RMB700 billion ($100 billion) in assets under management, has launched a RMB50 billion fund that will make investments in the security industry, with a particular focus on technology-enabled services....
Chinese guidance fund secures $21b in LP commitments
China’s Ministry of Finance has rallied state-owned enterprises (SOEs) and local governments to support a RMB147.2 billion ($20.9 billion) fund that will drive a transformation of the country's manufacturing sector.
Profile: Jungle Ventures' Amit Anand
Across the checkered early stages of his career, Amit Anand intuitively gravitated toward the technological engine of developing Asia. This underpinned the creation of Jungle Ventures
Hamilton Lane appoints Asia investment heads
Hamilton Lane has named Mingchen Xia (pictured) and Collwyn Tan as co-heads of the firm’s investment business in Asia. They already cover fund investments and co-investments, respectively, in the region.
Norwest raises $2b for latest global VC fund
Norwest Venture Partners, a US-headquartered investor with a strong presence in India, has closed its latest global VC fund at $2 billion. It is the firm’s largest vehicle to date.
KKR targets $12.5b for fourth pan-Asian fund
KKR is looking to raise $12.5 billion for its fourth pan-Asian fund. It is likely to be the largest-ever Asia-focused, US dollar-denominated fundraise, surpassing Hillhouse Capital’s $10.6 billion close last year.
NewQuest collects $1b for Asia secondaries fund
NewQuest Capital Partners has closed its fourth secondaries fund at the revised hard cap of $1 billion, comfortably exceeding the $540 million raised in the previous vintage.
Keppel Capital takes 50% interest in Pierfront Capital
Singapore-based Keppel Corporation has agreed to buy a 50% interest in Pierfront Capital, an alternative credit investment fund manager controlled by Temasek Holdings.
Primavera raises $3.4b for third China fund
Primavera Capital Group has closed its third China fund at $3.4 billion, having extended the fundraising period by six months.
Indian Angel Network closes VC fund at $53m
Indian Angel Network (IAN) has closed its first venture capital fund with INR3.7 billion ($53 million) in commitments. The target was INR3.5 billion.
Singapore's Tembusu seeks $287m for China liquor fund
Singapore private equity firm Tembusu Partners has received a strategic commitment of up to RMB670 million ($96 million) for a RMB2 billion fund targeting the liquor industry in China’s Guizhou province.
CICC, AstraZeneca launch $1b China healthcare fund
China International Capital Corporation (CICC) and global pharmaceutical giant AstraZeneca are looking to raise $1 billion for a fund that will back Chinese healthcare companies as well as international players looking to enter the country.
Philippines-based Xurpas acquires Wavemaker Partners
Philippines consumer technology developer Xurpas has agreed to acquire the US operations of venture capital firm Wavemaker Partners.
SoftBank founder admits to lapses on WeWork
SoftBank founder Masayoshi Son admitted to a lapse in judgment on WeWork while disclosing that SoftBank Vision Fund and SoftBank Group have written down their positions in the beleaguered co-working space provider by a combined $7.7 billion.