Fundraising
Fund focus: Tapping the Alibaba talent seam
Vision Plus Capital looks to tap the entrepreneurial talent developing in Alibaba Group's ecosystem for its second US dollar and renminbi-denominated funds
Fund focus: Advantage set for Asia ex-Japan push
Advantage Partners aims to build on the firm's experience connecting Asian entrepreneurs with opportunities in Japan in its first Asia-focused fund
China's AlphaX raises $313m venture capital fund
AlphaX Partners, a Chinese venture capital firm established by Chuan Thor (pictured), formerly of Highland Capital China, has closed its first US dollar and renminbi-denominated fund with RMB2 billion ($313 million) in commitments.
Legend hits $156m first close on renminbi healthcare fund
Legend Capital has reached a first close of RMB1 billion ($156 million) on its second dedicated healthcare fund. A US dollar-denominated vehicle – also the VC firm’s second for the sector – is scheduled for launch in the third quarter.
San Francisco pension fund backs China's SBCVC - update
San Francisco City & County Employees’ Retirement System has committed $25 million to SBCVC’s sixth China fund, which has a target of $500 million. The GP closed its previous VC vehicle at $459 million in 2016.
CPPIB's Asia private equity exposure tops $13b
Canada Pension Plan Investment Board (CPPIB) continues to ramp up its exposure to Asian private equity, with called and uncalled commitments rising 27% to C$17.1 billion ($13.3 billion) for the 12 months ended March 2018.
Hong Kong's Arbor raises $178.5m for second VC fund
Hong Kong-based Arbor Ventures has received $178.5 million in commitments for its second financial technology-focused venture capital fund. The targeted corpus is $220 million.
Next 10 secures $50m for user-generated content fund
Next 10 Ventures, a US and Singapore-based GP headed by former YouTube and Warner Bros executives, has raised $50 million for a fund focused on user-generated media content businesses.
Vietnam GPs: Five's company
Vietnam’s incumbent domestic private equity firms have all been in operation for more than a decade. Do LPs have enough confidence in the market to support the launch of additional managers?
Indian incubator raises $12.5m for seed fund
Indian educational institution IIM Ahmedabad has raised $12.5 million for its on-campus start-up incubator and seed fund from investors including the Bill and Melinda Gates Foundation.
Vision Plus raises $500m for China VC funds
Vision Plus Capital Partners, a Chinese venture capital firm set up by one of the co-founders of Alibaba Group, has raised $500 million for its second US dollar and renminbi-denominated funds.
Australia's Westpac invests $37m in Reinventure
Australia’s Westpac Banking Corp has committed A$50 million ($37 million) to the third fund of its venture capital unit Reinventure.
Japan's Advantage closes debut Asia fund at $380m
Japanese GP Advantage Partners has closed its first Asia-focused fund with total commitments of $380 million. Investments have already been made in China, Malaysia, and Taiwan.
Fund focus: HQ prepares for Asia secondary surge
Having raised $250 million for an Asia secondary fund, HQ Capital remains the only global multi-strategy firm with a vehicle dedicated to the region. It expects a significant uptick in deal flow over the next few years
Permira postpones Asia fundraise
Permira has put plans for a debut Asia fund on hold as it prioritizes managing existing portfolio companies in the region. The firm was talking to investors about raising $1.5 billion.
GLP establishes $1.6 billion China logistics fund
GLP, a private equity-owned warehouse operator based in Singapore, has launched a RMB10 billion ($1.6 billion) PE fund that will invest in the China logistics ecosystem. It is the second Chinese fund set up by the company this year.
Australia's BGH closes debut fund at $2b hard cap
BGH Capital, the Australia and New Zealand-focused private equity firm set up by Ben Gray (pictured), formerly co-head of TPG Capital in Asia, has closed its debut fund at the hard cap of around A$2.6 billion ($2 billion).
EQT closes Asia mid-market fund at $800m
EQT Partners has closed its Asia-focused middle market private equity fund on target with $800 million in commitments.
Indonesia VC: Levels of comfort
For all the fervor about technology opportunities in Indonesia, independent local VC firms are thin on the ground. Traditional LPs want to see more evidence of performance before getting involved
Fund focus: Dymon scales up for Fund II
Having raised $450 million for its second fund, Dymon Asia Private Equity will continue targeting middle-market companies in Southeast Asia that are looking for expertise as well as capital
Nepal's Dolma set to close $37m top-up fund
Nepal-focused private equity investor Dolma Impact Fund has received $37 million in commitments for a top-up vehicle that will pursue additional investments by its debut fund.
SMIC, Chinese investors to launch semiconductor fund
Hong Kong-listed Semiconductor Manufacturing International Corporation (SMIC) will launch a RMB1.62 billion ($254 million) fund in partnership with a Chinese government-backed group to invest in semiconductor assets.
GGV closes debut renminbi VC fund at $236m
GGV Capital has raised RMB1.5 billion ($236 million) for its debut renminbi-denominated fund. The successful close takes the Sino-US venture capital firm’s total assets under management past $4 billion.
Fund focus: Sky9 seeks early-stage differentiation
Having raised two VC funds with Lightspeed China Partners, Ron Cao has closed his first at Sky9 Capital with $200 million in commitments. The industry dynamics have changed, but Cao is sticking to his early-stage roots
