Funds
Fund focus: HQ prepares for Asia secondary surge
Having raised $250 million for an Asia secondary fund, HQ Capital remains the only global multi-strategy firm with a vehicle dedicated to the region. It expects a significant uptick in deal flow over the next few years
Permira postpones Asia fundraise
Permira has put plans for a debut Asia fund on hold as it prioritizes managing existing portfolio companies in the region. The firm was talking to investors about raising $1.5 billion.
GLP establishes $1.6 billion China logistics fund
GLP, a private equity-owned warehouse operator based in Singapore, has launched a RMB10 billion ($1.6 billion) PE fund that will invest in the China logistics ecosystem. It is the second Chinese fund set up by the company this year.
Australia's BGH closes debut fund at $2b hard cap
BGH Capital, the Australia and New Zealand-focused private equity firm set up by Ben Gray (pictured), formerly co-head of TPG Capital in Asia, has closed its debut fund at the hard cap of around A$2.6 billion ($2 billion).
GP profile: Intermediate Capital Group
In recent years Intermediate Capital Group has branched out beyond traditional mezzanine to embrace deal structures that have no sponsor. It sees ample opportunities in Asia’s developed markets
EQT closes Asia mid-market fund at $800m
EQT Partners has closed its Asia-focused middle market private equity fund on target with $800 million in commitments.
Indonesia VC: Levels of comfort
For all the fervor about technology opportunities in Indonesia, independent local VC firms are thin on the ground. Traditional LPs want to see more evidence of performance before getting involved
Fund focus: Dymon scales up for Fund II
Having raised $450 million for its second fund, Dymon Asia Private Equity will continue targeting middle-market companies in Southeast Asia that are looking for expertise as well as capital
Nepal's Dolma set to close $37m top-up fund
Nepal-focused private equity investor Dolma Impact Fund has received $37 million in commitments for a top-up vehicle that will pursue additional investments by its debut fund.
SMIC, Chinese investors to launch semiconductor fund
Hong Kong-listed Semiconductor Manufacturing International Corporation (SMIC) will launch a RMB1.62 billion ($254 million) fund in partnership with a Chinese government-backed group to invest in semiconductor assets.
GGV closes debut renminbi VC fund at $236m
GGV Capital has raised RMB1.5 billion ($236 million) for its debut renminbi-denominated fund. The successful close takes the Sino-US venture capital firm’s total assets under management past $4 billion.
Fund focus: Sky9 seeks early-stage differentiation
Having raised two VC funds with Lightspeed China Partners, Ron Cao has closed his first at Sky9 Capital with $200 million in commitments. The industry dynamics have changed, but Cao is sticking to his early-stage roots
India's Zodius hires executive from Providence
Varun Laul (pictured), the sole remaining India-based representative of Providence Equity Partners, has left the GP to join technology-focused venture capital firm Zodius Capital.
HQ raises $250m for Asia secondaries fund
HQ Capital has closed an Asia-focused secondaries fund at the hard cap of $250 million as part of an oversubscribed global fundraising drive that has received $674 million in third-party commitments.
Fund focus: Pencarrow underlines New Zealand interest
Pencarrow Private Equity closed its fifth fund at $176 million without the support of long-time backer New Zealand Superannuation Fund. Other LPs were happy to come in for a piece of the country's lucrative middle market
India's Unitus reaches $15m first close on second impact fund
Indian VC firm Unitus Ventures (formerly Unitus Seed Fund) has reached a first close of INR1 billion ($15 million) for its second early-stage impact investment fund.
China's Decheng targets $450m for third fund
Chinese healthcare and life sciences-focused GP Decheng Capital is targeting $450 million for its third US dollar-denominated fund.
Singapore's Dymon closes Fund II at $450m
Singapore-based Dymon Asia Private Equity (DAPE) has closed its second fund targeting lower middle-market companies in Southeast Asia with $450 million in commitments. It had initially targeted a corpus of $350 million.
PennSERS to invest $75m in Hahn & Co's Korea fund
Pennsylvania State Employees’ Retirement System (PennSERS) has agreed to commit up to $75 million to Hahn & Company’s third Korea-focused fund.
New Zealand's Pencarrow closes Fund V at $176m
New Zealand-based Pencarrow Private Equity has reached a first and final close of NZ$250 million ($176 million) for its fifth fund after eight weeks on the market. It had targeted a corpus of NZ$200 million.
NSI goes independent, rebrands as Openspace Ventures
NSI Ventures, a Southeast Asian early-stage investor affiliated to Northstar Group, is to become fully independent and rebrand itself as Openspace Ventures.
Sinovation confirms Fund IV close at $500m
Chinese VC firm Sinovation Ventures has confirmed a final close for its fourth fund at the targeted corpus of $500 million.
Fund focus: Qiming sees growing opportunity set
Qiming has chosen to stick to its successful formula with its sixth US dollar-denominated vehicle, which recently closed at $935 million
Singapore accelerators: Corporate orientation
The rise of corporate-backed innovation programs in Singapore suggests the emergence of a new model for start-up development. Stakeholders are monitoring the pros and cons of the phenomenon