Funds
Fund focus: China's Xiang He hits $425m hard cap on Fund II
Baidu spin-out Xiang He Capital draws on networks and experience from the corporate sphere to differentiate itself in China’s VC market. It has $425 million in dry powder to put this proposition to the test
Hosen targets $750m for fourth China fund
China-based food and agriculture specialist Hosen Capital is looking to raise $750 million for its fourth fund.
Lok seeks $150m for fourth India fund
Indian venture capital firm Lok Capital is targeting $150 million for its fourth fund, which will invest in growth-stage companies with a potential for positive social impact.
Bain expands India credit presence
Bain Capital is setting up a team to invest in credit and special situations opportunities in India, and has hired a former executive at Aion Capital to serve as its head.
LGT acquires India impact investor
LGT Group has acquired a majority stake in Indian impact investor Aspada from an investment arm of Open Society Foundations, a George Soros-founded charitable institute.
DSG exceeds target for third India, Southeast Asia fund
DSG Consumer Partners has reached a final close of $65 million on its third fund focused on early-stage consumer opportunities in India and Southeast Asia, beating its hard cap of $60 million.
Korean carve-outs: Network effects
Chaebol carve-outs have historically been elusive for global firms operating in Korea. A growing appreciation of their value-add capabilities could be the catalyst needed to direct more deals their way
AVCJ Awards 2019 - Nominations have closed
Nominations for the 2019 AVCJ Private Equity & Venture Capital Awards is September 26. Many thanks to all who participated. The voting stage will commence within a fortnight.
Qiming's J.P. Gan reaches first close on spin-out fund
J.P. Gan (pictured), who spent 12 years with Qiming Venture Partners before striking out on his own earlier this year, has reached a first close of $163 million on his debut China fund.
Fund focus: CITIC Capital eyes divestment opportunity
CITIC Capital has scaled up for its latest China fund, raising 75% more capital than in the previous vintage. The buyout-focused GP expects tighter liquidity to drive more corporate carve-outs
Singapore-based Play closes debut gaming fund at $40m
Play Ventures, a Singapore-based VC firm focused on gaming start-ups in Europe, Asia, and North America, has closed its debut fund at $40 million.
GP profile: Legend Capital
Legend Capital has absorbed lessons from its corporate sponsor to build a diversified investment business across the US dollar and renminbi spaces. It is now trying to take LP relations to a new level
East Ventures closes sixth fund at $75m
East Ventures has closed its sixth fund for early-stage Southeast Asian start-ups at $75 million. It had initially targeted $30 million.
Vulcan Capital expands into Asia
Vulcan Capital, a US-based venture investor set up by Microsoft co-founder Paul Allen, has opened a Singapore office and earmarked $100 million for investment in Southeast Asia.
Fund focus: Kotak exploits distressed assets edge
Kotak Mahindra Group hopes his longstanding experience in financial services will serve as a differentiator as it looks for deals in India's increasingly popular distressed space
Fund focus: China's 01VC pursues industrial upgrade strategy
01VC has secured institutional LP support for its second fund, which closed at $100 million. The early-stage investor plans to deploy it across industrial and enterprise deals in China and Southeast Asia
SSG targets wider array of distressed sellers for Fund V
SSG Capital Partners expects to source distressed assets from a wider variety of sellers – including other alternative investment firms and investment banks – during the life of its fifth Asia fund, which is on track to exceed its target of $1.5 billion....
Kotak closes India distressed asset fund at $1b
The Kotak Special Situations Fund, which is sponsored by an alternative assets arm of Kotak Mahindra Group focused on Indian non-performing loans (NPLs), has reached a final close of $1 billion.
China's 01VC closes second early-stage fund at $100m
China’s 01 Venture Capital (01VC) has closed its second US dollar-denominated fund for early-stage investments with $100 million in commitments.
Former CIC PE head joins China Renaissance
Ou Wang, the former head of private equity for China Investment Corporation (CIC), has joined China Renaissance Holdings as a strategy consultant. He has also joined the board of Huajing Securities, the firm’s mainland China-focused investment banking...
Q&A: Betatron's Erika Cheung
Erika Cheung, who helped bring the fraud at Theranos to the attention of regulators, discusses her current role as an advisor at Hong Kong accelerator Betatron and the challenges faced by women entrepreneurs
Pakistan's i2i launches $15m venture fund
Invest2Innovate, an accelerator program for technology start-ups in emerging markets, has launched a $15 million venture capital fund focused on Pakistan.
CITIC Capital closes fourth China buyout fund at $2.8b
CITIC Capital has closed its fourth China buyout fund at the hard cap of $2.8 billion. It is the private equity firm’s largest fund raised to date.
AustralianSuper, OTPP commit $2b to India's NIIF
AustralianSuper and Ontario Teachers’ Pension Plan (OTPP) have agreed to commit up to $1 billion each to the National Investment & Infrastructure Fund (NIIF), a vehicle backed by the Indian government.