Funds
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).
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.