Funds
Deal focus: Bringing beauty to the masses
GGV expands its support of China's beauty-focused online commerce platforms with an investment in Xiao Hong Chun
China Post backs ride-hailing app Didi Chuxing
Didi Chuxing, China’s largest ride-hailing app operator which is set to acquire its rival Uber China, has received a strategic investment from China Post, a state-owned enterprise operating the official postal service in the country.
China’s K2VC closes $150m growth-stage RMB fund
K2VC, a Chinese early stage VC firm, has closed a new renminbi-denominated fund worth RMB1 billion ($150 million). It will target investments in growth-stage Chinese start-ups.
Quadrant raises $754m for Australia mid-market fund
Australian GP Quadrant Private Equity has closed its eighth fund - and fifth as a fully independent entity - at A$980 million ($754 million). As with the previous fundraise in early 2014, the process was completed in approximately one month.
IFC commits $45m to two China funds
The International Finance Corporation (IFC), the investment arm of the World Bank, has committed $45 million between two Chinese PE funds.
China’s Douyu TV raises further $226m
Douyu TV, a Chinese online platform that features live videos of people playing games, has raised a RMB1.5 billion ($226 million) Series C round of funding led by Phoenix Investments and existing investor Tencent Holdings.
China female social networking site Meet You raises $151m
Meet You, a Chinese social networking platform for women, has completed a new round of funding worth RMB1 billion ($151 million), having removed its variable interest entity (VIE) structure in preparation for an onshore listing.
China smart bike maker Tsinova raises $23m
Tsinova, a Chinese smart bicycle manufacturer, has closed a RMB150 million ($23 million) Series B round led by THG Ventures, a venture capital firm backed by state-owned Tsinghua Holdings.
India's Suryoday Micro Finance raises $15m, Aavishkaar exits
Indian micro-finance institution (MFI) and non-banking finance company (NBFC) Suryoday Micro Finance has raised INR1 billion ($15 million) in fresh capital, with Aavishkaar Goodwell fully exiting the company in a separate transaction.
MDI leads funding round for Singapore's Red Dot
Metra Digital Innovation Ventures (MDI), the corporate venture arm of state-controlled telecommunications firm Telkom Indonesia, has led a funding round for Singapore-based online payment solutions provider Red Dot Payment.
ICICI in $15m exit from India's TeamLease
ICICI Venture has exited nearly all of its remaining stake in Indian staffing services company TeamLease for INR1 billion ($15 million).
Outbound fund-of-funds: China's white space
Is channeling capital from Chinese high net worth individuals into offshore private equity the next big opportunity for fund-of-funds providers?
Fund focus: Reinventure seeks disruptive fintech
Leveraging its synergies with Westpac, Reinventure Group will invest in start-ups through which the bank can access innovations that complement its business model or integrate technology solutions directly into its systems
Korean online beauty retailer Memebox raises $66m
Memebox, an e-commerce company that sells Korean beauty products, has raised $65.95 million in Series C funding led by Formation Group, an Asia-focused VC firm launched by Formation 8 co-founder Brian Koo.
EVP, Microequities launch $15.4m Australian VC fund
Equity Venture Partners (EVP) and Microequities Asset Management have launched a A$20 million ($15.4 million) venture capital fund to focus on Australian technology start-ups.
Asian investors back $80m global expansion for NextVR
NextVR, a US-based start-up developing live streaming content for virtual reality (VR), has raised an $80 million Series B round, mostly from investors in Asia.
Drones: High-flying tech
The exponential rise in drone technology investment during the past few years is now expected to level off into slower growth as venture capitalists discover a galaxy of more nuanced opportunities
Alibaba leads round for China VC-backed e-commerce site
Alibaba Group has led a RMB267 million ($49 million) Series C round for Shandiangou.com, a Chinese mobile shopping and delivery app backed by several VC investors.
Oak Hill exits India's Vertex to strategic buyer
Oak Hill Capital Partners has reportedly exited its stake in the India branch of business process outsourcing (BPO) company Vertex Data Science to domestic mobile communications company Altruist.
China's Fruitday adds $15m to Series D round
Fruitday, a Chinese VC-backed e-commerce site dedicated to selling imported fruit, has received RMB100 million ($15 million) in an extended Series D round from an investment fund backed by Shanghai-listed developer Zhangjiang Hi-Tech Park.
China payment machines maker Yunnex raises $45m
Yunnex, a China-based point-of-sale (POS) machine manufacturer, has raised RMB300 million ($45 million) in Series B funding from GSR Ventures and other strategic investors.
Sino-US VCs back US online marketplace GrubMarket
GrubMarket, a US-based online food marketplace, has raised $20 million in a Series B round of funding from several Sino-US investors including GGV Capital, Fosun Capital and Danhua Capital.
Australia's Westpac invests $38m in Reinventure
Australia's Westpac Banking Corp. has committed A$50 million ($38 million) to the second fund of Reinventure Group.
Sequoia leads $7.5m investment in Singapore crowdfunding platform
Sequoia Capital India has led a $7.5 million Series A round for Singapore-based crowdfunding platform Funding Societies.