Fundraising
Norwest raises $2b for latest global VC fund
Norwest Venture Partners, a US-headquartered investor with a strong presence in India, has closed its latest global VC fund at $2 billion. It is the firm’s largest vehicle to date.
KKR targets $12.5b for fourth pan-Asian fund
KKR is looking to raise $12.5 billion for its fourth pan-Asian fund. It is likely to be the largest-ever Asia-focused, US dollar-denominated fundraise, surpassing Hillhouse Capital’s $10.6 billion close last year.
NewQuest collects $1b for Asia secondaries fund
NewQuest Capital Partners has closed its fourth secondaries fund at the revised hard cap of $1 billion, comfortably exceeding the $540 million raised in the previous vintage.
Uncertain times: The outlook for Asia
Private equity activity is lagging in Asia across fundraising, investment and exits as a result of political and economic headwinds. But there is still appetite for new managers and strategies
Fundraising gap impedes mid-market exits – AVCJ Forum
Polarization in fundraising has left middle-market investors with difficult options for realizing exits, according to industry participants at the AVCJ Forum.
Asian outposts: LPs see value in a local presence
Few institutional investors have the scale, resources or mandate to establish private markets platforms within Asia. Those that do are looking to make it pay off through co-investment
Primavera raises $3.4b for third China fund
Primavera Capital Group has closed its third China fund at $3.4 billion, having extended the fundraising period by six months.
PAG, Centurium win firm of the year prizes at AVCJ Awards
PAG Asia Capital and Centurium Capital secured the two firm of the year prizes at the 2019 AVCJ Private Equity & Venture Capital Awards, while Renuka Ramnath of India’s Multiples Alternative Asset Management won the AVCJ Special Achievement Award.
Q&A: Teacher Retirement System of Texas' Eric Lang
Eric Lang, senior managing director of external private markets at Teacher Retirement System of Texas (TRS), discusses co-investment, strategic partnerships, and Asian expansion plans
Indian Angel Network closes VC fund at $53m
Indian Angel Network (IAN) has closed its first venture capital fund with INR3.7 billion ($53 million) in commitments. The target was INR3.5 billion.
Singapore’s Tembusu seeks $287m for China liquor fund
Singapore private equity firm Tembusu Partners has received a strategic commitment of up to RMB670 million ($96 million) for a RMB2 billion fund targeting the liquor industry in China’s Guizhou province.
CICC, AstraZeneca launch $1b China healthcare fund
China International Capital Corporation (CICC) and global pharmaceutical giant AstraZeneca are looking to raise $1 billion for a fund that will back Chinese healthcare companies as well as international players looking to enter the country.
SoftBank founder admits to lapses on WeWork
SoftBank founder Masayoshi Son admitted to a lapse in judgment on WeWork while disclosing that SoftBank Vision Fund and SoftBank Group have written down their positions in the beleaguered co-working space provider by a combined $7.7 billion.
Eastern Bell closes first US dollar fund at $365m
China’s Eastern Bell Capital has closed its first US dollar-denominated fund at $365 million, exceeding the target of $350 million.
Investcorp backs $500m Asia food fund
Investcorp has teamed up with China Resources and Fung Investments, the private investment arm of the founding family of Hong Kong consumer goods and supply chain conglomerate Fung Group, to raise a $500 million Asia food fund.
China Everbright, Investcorp deepen China tech partnership
China Everbright and Investcorp have agreed to combine their respective China technology-focused investment teams and co-manage a recently launched fund targeting the sector.
German VC firm DTCP opens Korea office
DTCP, a Germany-based VC firm controlled by Deutsche Telekom and Korea’s SK Telecom, has opened its first Asian office in Seoul.
Fund focus: AirTree goes full service
AirTree Ventures raised $188 million for its third fund on the back of a hiring spree that has doubled headcount and added operational capabilities as the firm looks to nurture a new generation of Australian unicorns
Fund focus: J.P. Gan bucks VC fundraising trend
Having spent 12 years at Qiming Venture Partners, J.P. Gan has raised $352 million for his debut fund at Ince Capital Partners. More early-stage consumer internet deals will follow
Aspirant scales up for third Japan buyout fund
Aspirant Group, a Japanese middle-market buyout firm, has closed its third fund at the hard cap of JPY50 billion ($463 million). It is nearly twice the size of the GP’s previous vehicle.
Jungle closes Southeast Asia VC fund at $240m
Singapore-based Jungle Ventures has closed its third early-stage Southeast Asia VC fund at $240 million, more than doubling the previous vintage.
KKR plans Asia tech fund
KKR plans to raise a growth-stage technology fund focused on Asia, expanding a strategy that is already operational in North America, Europe, and Israel.
China-US PE: Reverse princeling
When a US presidential candidate’s son with Chinese private equity connections stirs up accusations of impropriety, the questionable merits of princeling funds appear more muddled than ever
Advantage seeks $690m for sixth Japan buyout fund
Advantage Partners is looking to raise around JPY75 billion ($690 million) for its sixth Japan-focused middle-market buyout fund, up from JPY60 billion in the previous vintage.
