Fundraising
India's Axis Bank seeks $468m for distress buyout fund
India’s Axis Bank has launched a distress buyout fund targeting INR35 billion ($468 million) via its asset management business.
Japan's WM, AIC launch secondary fund targeting LP stakes
WM Partners and Alternative Investment Capital (AIC) are looking to raise a JPY10 billion ($88 million) secondary fund that will primarily target LP positions in Japan-focused private equity funds.
Q&A: 500 Global’s Christine Tsai
Christine Tsai, co-founder of 500 Global, formerly 500 Startups, reflects on how a planetary approach to seed-stage VC has changed the asset class, the developing world, and the firm itself
Australia's Allegro seeks $449m for Fund IV
Australia-based turnaround specialist Allegro Funds is targeting A$600 million ($449 million) for its fourth fund, more than twice what it raised in the previous vintage.
Japan fundraising: Regional banks revisited
Japan’s regional banks have risen from a low base to become a meaningful LP constituency for local middle-market managers. Their staying power might be a function of broader industry consolidation
Fund focus: Vitalbridge plays it safe
The China-based venture capital firm declined to increase its Fund II hard cap as regulatory uncertainty mounted. It now has $275 million in dry powder earmarked for services digitalization
China's Vitalbridge closes Fund II at $275m
Vitalbridge Capital, a China-based venture capital firm that spun out from Trustbridge Partners, has raised $275 million for its second US dollar-denominated fund.
AVCJ Awards 2021 - voting closes November 2
Voting for the 2021 AVCJ Private Equity & Venture Capital Awards is now open and runs until November 2.
Hillhouse upsizes growth fund to $5.2b
Hillhouse Investment, the buyout and growth capital unit of Asia-focused Hillhouse Group, has raised $5.2 billion for a growth equity fund, more than twice the original target.
Anchor raises $1.6b for Korea, North Asia
Anchor Equity Partners has closed its fourth Korea and North Asia-focused fund with $1.6 billion in commitments after approximately five months in the market.
Vision Fund: Big is beautiful?
Previously the sole elephant in Asia’s growth-stage technology space, SoftBank’s Vision Fund program is now one of a herd. Prevailing amid increased competition may prove its thesis once and for all
3Q analysis: India advances
India technology investment continues to ramp up as China flatlines; international payments M&A drives Asia trade sale revival, but IPOs slump; fundraising remains slow
Q&A: Glow Capital Partners' Justin Ryan
Having teamed up with the founder of Adore Beauty to launch Glow Capital Partners, Justin Ryan discusses life after Quadrant Private Equity, growth-stage investment in Australia, and gender balance
Fund focus: Yunqi reaffirms its enterprise focus
Yunqi Partners was the first Chinese GP dedicated to enterprise services and now claims to be the largest early-stage investor in the space. SaaS, in various forms, will account for the bulk of Fund III
China's Yunqi closes third US dollar fund at $300m
Yunqi Partners, an early-stage investment firm focused on enterprise software and services in China, has raised $300 million for its third US dollar-denominated fund.
China's Source Code raises $1.1b renminbi fund
Chinese venture capital firm Source Code Capital has raised RMB7 billion ($1.1 billion) for its fifth renminbi-denominated fund after approximately three months in the market.
China in six trends
Key themes in China private equity fundraising, investment, and exits
China Renaissance hits first close on flagship US dollar fund
Huaxing Growth Capital, a new economy-focused private equity division of China Renaissance, has reached the first close on its fourth US dollar-denominated fund of $550 million.
Alteria closes India venture debt fund at $241m
Alteria Capital has closed its second India venture debt fund at INR18 billion ($241 million), beating a target of INR15 billion. All the money was raised by video call.
Goodwin strengthens Asia fund formation team
Goodwin has recruited Phil Culhane and Elyn Xing, who previously worked together at Simpson Thacher, as Asia-based partners in its private investment funds practice.
CDC backs Gobi's Pakistan fund
UK development finance institution CDC Group has provided an anchor commitment of undisclosed size to a Pakistan VC fund targeting $20 million from Gobi Ventures and local conglomerate Fatima Group.
Ex-Quadrant executive launches consumer-tech PE firm
Justin Ryan, who previously led Quadrant Private Equity’s growth capital strategy, has established a private equity firm that will back e-commerce platforms and consumer brands in Australia and New Zealand.
LP interview: Japan Investment Corporation
Japan Investment Corporation aims to help a sparse venture capital market catch up with a slightly more mature buyout space. Balancing private and public interests remains the key challenge
