Fundraising
ResponsAbility hits $173m first close on Asia food fund
Swiss impact investor ResponsAbility has reached a first close of USD 173m for a South and Southeast Asia-focused sustainable food private equity fund. The target is USD 400m.
China's Riverhead Capital closes $295m renminbi fund
China-based Riverhead Capital, the private equity arm of Sunshine Insurance Group, has closed a renminbi-denominated fund with CNY 2bn (USD 295m) in commitments.
B Capital raises $2.1bn for latest global VC funds
US and Singapore-headquartered VC firm B Capital has closed its third series of funds with USD 2.1bn in commitments. The mandate is global with a strong emphasis on Asia.
India's 360 One buys Mumbai Angels, launches two funds
Bain Capital-backed 360 One, which rebranded from IIFL Wealth & Asset Management last November, has acquired a 91% stake in Mumbai Angels as the seed investor launches two new funds.
China’s Yunqi seeks $300m for fourth VC fund
Yunqi Partners, which makes early-stage investments in China’s enterprise software and services space, is targeting USD 300m for its fourth US dollar-denominated fund.
Asia PE investment declines 40% in 2022
Asia private equity investment reached USD 223.9bn in 2023, a sharp decline from the USD 376.4bn recorded a year earlier, but still the second-largest annual total on record, according to provisional data from AVCJ Research.
India's Lighthouse seeks $425m for Fund IV, gets NIIF commitment
Lighthouse Funds is targeting INR 35bn (USD 425m) for its fourth India fund and has signed up the country’s National Investment & Infrastructure Fund (NIIF) as an anchor LP.
Singapore's Lighthouse Canton hits first close on venture debt fund
Singapore Lighthouse Canton has reached a first close of USD 20m on its first venture debt fund, which will target Southeast Asia and India. The target is USD 100m.
ADB backs Quadria's third health fund
Asian Development Bank (ADB) has committed USD 25m to the third fund from Singapore-based Quadria Capital, a healthcare-focused private equity firm.
4Q analysis: Who wants China?
Pan-regional GPs get traction by highlighting their Asia ex-China credentials; buyouts rebound as growth capital – and China – continue to recede; India impresses with bumper exit proceeds
CVC hits USD 3.5bn first close on sixth Asia fund
CVC Capital Partners achieved a first close of USD 3.5bn on its sixth pan-Asian fund at the end of last year.
TR hits $350m first close on fifth Asia secondaries fund - update
TR Capital, an Asia-focused private equity secondaries investor, has reached a first close of USD 350m on its fifth fund, which has an overall target of USD 600m.
LPs want more transparency in Asia GP relationships
LPs are willing to back first-time managers and reengage with China, but they want to see more from GPs in return for taking these risks, the Hong Kong Venture Capital & Private Equity Association’s (HKVCA) Asia Forum heard.
Allen & Overy adds fund formation partner in Shanghai
Allen & Overy has strengthened its Asia Pacific funds and asset management group with the appointment of Daisy Qi as a partner based in Shanghai.
China's CIC becomes largest state-owned investor - report
China Investment Corporation (CIC) surpassed Japan’s Government Pension Investment Fund (GPIF) and Norway’s Norges Bank Investment Management (NBIM) to become the world’s largest state-owned investor in 2022, according to Global SWF Tracker.
AC, Indies sign up to Malaysia government tech drive
Indonesia-focused AC Ventures and Indies Capital have agreed to support a Malaysian tech investment programme led by government VC unit Penjana Kapital.
Northstar hits first close on Southeast Asia VC fund
Southeast Asia-focused private equity firm Northstar Group has reached a first close of USD 90m on its first venture capital fund. The overall target is USD 150m.
Australia's PEP ups target for latest secure assets fund
Pacific Equity Partners (PEP) has increased the target for its second Australia and New Zealand-focused secure assets fund to AUD 1.4bn (USD 949m), while pursuing a deal that would round off Fund I and fall into Fund II.
Australia’s Heal Partners closes debut fund on $137m
Australia’s Heal Partners, a health, education, and lifestyle-focused venture capital firm, has closed its first fund on AUD 200m (USD 137m). The target was AUD 100m.
Campbell Lutyens recruits Suvir Varma as Asia chairman
Suvir Varma, formerly head of Bain & Company’s financial investor practice in Asia Pacific, has been appointed chairman for Asia Pacific at placement agent Campbell Lutyens.
PAG closes fifth credit fund on $2.6bn
PAG has closed its fifth pan-Asian private credit fund at the hard cap with USD 2.6bn. It is said to be the largest direct lending fund raised in the region to date.
2023 preview: Fundraising
Fundraising is difficult for all but the fortunate few private equity managers in Asia. GPs are delaying launches, shaking up strategies, and offering sweeteners; LPs are in no hurry to make commitments
2023 preview: Private debt
Asia-based private debt managers hope to take advantage of renewed LP appetite for the asset class, while enjoying higher returns driven by rising interest rates and widening spreads
2023 preview: Mass access to PE
More individuals will be able to invest in private equity as fund fractionalisation technology matures. But a global downturn, ever-malleable regulations, and blockchain gloom loom large
