Fundraising
Fund focus: Oceanpine opens to external capital
Technology and healthcare-focused Oceanpine Capital sees the large GP commitment to its fund and the network of its founder as key differentiators in a competitive Chinese market
Silver Lake raises $20b for global tech fund
Silver Lake has closed its sixth global buyout fund at the hard cap of $20 billion as the US tech investor exhibits a growing appetite for mega-deals in Asia. Its prior vintage raised $15 billion in 2017.
Ascendent founder sponsors SPAC targeting global deals
A special purpose acquisition company (SPAC) sponsored by Liang Meng, founding managing partner of China’s Ascendent Capital Partners, has raised $300 million for global consumer technology investments.
Singapore bourse to consider SPAC listings
The Singapore Exchange (SGX) will consider allowing listings by special purpose acquisition companies (SPACs) on the back of a spike in fundraising activity for these structures in the US.
Fund focus: Asian LPs amplify Mekong’s ambitions
Travel restrictions forced Mekong Capital to look closer to home when raising its latest fund, but the manager was already building out a more Asia-centric LP base
China’s CICC raises $650m for biomedical fund
CICC Capital has reached a second close of RMB4.2 billion ($650 million) on its latest healthcare fund - the first in China to receive fast-track approval for its role in addressing COVID-19.
Hong Kong's ORI hits first close on Fund II, exits Kymab
Hong Kong healthcare-focused VC firm ORI Capital has reached a first close of $112 million on its second fund and exited its largest investment, UK biotech developer Kymab, as part of a $1.1 billion deal.
Cathay closes second innovation fund $789m
Cathay Capital has raised EUR650 million ($789 million) for its second innovation fund, which supports start-ups in China, Europe, and North America.
KKR closes Asia infrastructure fund at $3.9b
KKR has reached a final close on its first Asia Pacific-dedicated infrastructure fund at the hard cap of $3.9 billion. It is being called the largest pan-regional infrastructure fund ever raised.
China's Firstred closes debut renminbi fund on $1b
Firstred Capital, a Chinese growth and buyout investor in healthcare, consumer products and services, and industrial technology, has closed its debut fund with RMB6.8 billion ($1 billion) in commitments.
India's Z3 Partners hits first close on debut VC fund
India venture capital firm Z3 Partners has reached a first close of INR1 billion ($13.6 million) on its debut fund, which will invest in early-stage technology start-ups.
China's Primavera launches consumer-focused SPAC
Primavera Capital Group has joined the trickle of Asia-based private equity investors launching special purpose acquisition companies (SPACs) in the US, targeting a $300 million capital raise for consumer deals.
India's Endiya closes second fund at $75m
India’s Endiya Partners has closed its second early-stage venture capital fund with about $75 million in commitments.
Thiel, Pacific Century launch second Southeast Asia SPAC
Peter Thiel (pictured), co-founder of PayPal, Palantir Technologies and Founders Fund, and Richard Li, son of Hong Kong billionaire Li Ka-shing, are launching another special purpose acquisition vehicle (SPAC) that will target new economy assets in Southeast...
Vietnam’s Mekong closes Fund IV at $246m
Vietnamese private equity firm Mekong Capital has closed its fourth flagship middle-market fund at $246 million, more than twice the size of its predecessor vehicle.
Five trends for 2021
AVCJ looks at how its 2020 predictions turned out and identifies some key themes for the year ahead
Timeline: 2020 by numbers
A selection of the key fundraising, investment and exit events - presented in chronological order - from the past 12 months
China's Oceanpine raises $400m for tech, healthcare deals
Chinese technology and healthcare investor Oceanpine Capital has completed its first external fundraise with $400 million in commitments.
Indian government infrastructure fund closes at $2.3b
NIIF Master Fund, a rupee-denominated infrastructure investment vehicle backed by the Indian government, has achieved a final close of $2.34 billion, beating its $2.1 billion target.
Quadrant secures $938m for flagship Australia fund
Quadrant Private Equity has completed another rapid fundraise, taking just five weeks to achieve a final close of A$1.24 billion ($938 million) on its latest Australia and New Zealand mid-market vehicle.
The crystal ball: Predictions for 2021
Industry professionals process the upheavals of 2020 to inform outlooks for a range of markets and investment themes. Realist bullishness abounds
IMM raises $1.8b for fourth Korea fund
IMM Private Equity will complete fundraising for its fourth Korea-focused vehicle at the end of this month, with KRW2 trillion ($1.8 billion) in commitments. It caps a year in which the firm expects to close two new investments and agree exits on three...
Fund focus: Integral scales up again
Riding on a wave of IPOs that have returned the principal on Fund II and given Fund III a strong start, Integral Corporation has secured $1.18 billion in commitments for its fourth Japan fund
2020 in review: Surprise guest
The coronavirus pandemic has played havoc with Asian private equity, contributing to a resurgence in IPOs, increased bifurcation in fundraising, a rush for healthcare, and a generally staggered revival
