Funds
Bain reaches $557m first close on Asia special situations fund
Bain Capital Credit has reached a first close of $557 million on its Asia-focused special situations fund.
China's Withinlink seeks $30m for VC fund
China-based start-up incubator and early-stage investor Withinlink is targeting $30 million for its second venture capital fund to help US companies enter the Chinese market.
OrbiMed closes third Asia healthcare fund at $551m
Healthcare-focused investment firm OrbiMed has closed its third Asian private equity fund with $551 million in commitments.
China’s Qingsong raises $129m early-stage tech fund
Qingsong Fund, a Chinese VC firm formed by Alvin Liu, an angel investor and co-founder of Tencent Holdings, has closed its third renminbi-denominated fund at RMB850 million ($129 million).
Chinese investor commits $63m to Australia incubator
Suzhou High-Tech Venture Capital Group, a Chinese state-backed investment fund, has committed A$80 million ($63 million) to a start-up incubator based in Melbourne.
DSG closes India, Southeast Asia consumer fund at $50m
DSG Partners Asia, which targets early-stage consumer opportunities in India and Southeast Asia, has closed its second fund at the hard cap of $50 million. Everstone Capital bought a 50% stake in the GP last year.
China Life, Baidu launch $1b tech PE fund
China Life Insurance Group and internet search giant Baidu have agreed to form a RMB7 billion ($1 billion) private equity fund to invest in technology companies.
SparkLabs launches $50m Korea, SE Asia venture fund
SparkLabs Global Ventures has launched a $50 million venture capital fund that will make Series A and B investments in Korean and Southeast Asian start-ups.
Australia's Alium raises $79m venture fund
Australia-based Alium Capital has received A$100 million ($79 million) in commitments for its debut venture capital fund, meeting the targeted corpus.
Macquarie receives $300m for Asia infra fund
Australia’s Macquarie Infrastructure and Real Assets (MIRA) has launched a new Asia infrastructure fund with a $300 million cornerstone LP commitment from Canada’s Alberta Investment Management Corporation (AIMCo).
Gobi reaches $50m first close on Southeast Asia fund
Gobi Partners, a Shanghai-based venture capital investor focused on China and Southeast Asia, has reached a first close of $50 million on its latest Southeast Asia fund.
Carlyle merges India growth, buyout teams
The Carlyle Group has merged its growth and buyout teams for India in order to streamline operations in the country.
NZVIF expands seed-stage mandate
The New Zealand Venture Investment Fund (NZVIF), a government-sponsored fund-of-funds, has doubled the investment cap of its seed-stage vehicle to NZ$1.5 million ($1.1 million) per company.
IFC proposes $5m commitment to Wavemaker Southeast Asia fund
The International Finance Corporation (IFC), the investment arm of the World Bank, is considering a commitment of up to $5 million to Wavemaker Partners’ Southeast Asia-focused venture capital fund.
Lilly Asia closes healthcare fund at $450m hard cap
China-focused Lilly Asia Ventures (LAV) has closed its fourth healthcare-focused fund at the hard cap of $450 million.
Australia’s LaunchVic terminates partnership with 500 Startups
LaunchVic, a start-up investment fund backed by the government of Victoria, has ended its planned partnership with 500 Startups in the wake of a sexual harassment scandal at the Silicon Valley-based accelerator.
KKR opens Shanghai office
KKR has opened an office in Shanghai, its third base in Greater China and eighth in Asia Pacific. The move comes two months after the firm closed its third pan-regional fund at $9.3 billion.
InnoVen co-founders launch India venture debt fund
Ajay Hattangdi (pictured) and Vinod Murali, co-founders of venture debt firm InnoVen Capital, have established their own India venture debt business and are looking to raise a $155 million fund, including a $30 million greenshoe option.
Alibaba's Tmall leads $300m round for PE-backed Yiguo
Tmall, Alibaba Group’s B2C e-commerce unit, has led a $300 million Series D round for Yiguo.com, a PE-backed Chinese grocery shopping platform. This is the fourth time an Alibaba entity has invested in the company.
NYSTRS to invest $100m in ADV's second Asia fund
New York State Teachers’ Retirement System (NYSTRS) has disclosed a commitment of $100 million to ADV Partners’ second Asian special situations fund. The PE firm closed its debut vehicle at $545 million in 2015.
Q&A: Permira's Alex Emery
Alex Emery, head of Asia at Permira, on global funds versus regional funds, escalations in dry powder and deal size, and how to lay the ground for when the current bull run inevitably comes to an end
Blue Lake reaches $120m first close on China VC fund
Blue Lake Capital, a China-focused VC firm led by two former GGV Capital and Sequoia Capital executives, has reached a first close of more than $120 million on its second early-stage fund. The full target is $200 million.
Jafco buys back $577m in shares from investors
Japanese venture capital firm Jafco has agreed to buy back JPY63.8 billion ($577.4 million) worth of shares from its major shareholders, including Nomura Holdings.
Singapore's Prestellar raises $100m VC fund
Prestellar Ventures, a Singapore-based GP backed by two Nepalese companies as well as Indian microfinance institution Satin Creditcare and India-focused investor Frontline Strategies, has raised a $100 million fund.