Fundraising
Warburg Pincus seeks $2b for China fund
Warburg Pincus is seeking to raise $2 billion for a new China-dedicated fund, which will make investments in the country alongside its latest $13.4 billion global fund.
Cherubic launches $120m fund for US, China
Early-stage venture capital firm Cherubic Ventures is targeting $120 million for its latest fund aimed at investments in the US and China.
Gobi, Mavcap launch $14.5m ASEAN seed fund
Gobi Partners and Malaysia Venture Capital Management (Mavcap) have launched a MYR60 million ($14.5 million) fund that will make seed-stage investments across Southeast Asia.
Australia's CHAMP Ventures postpones fundraise
CHAMP Ventures has postponed the launch of its eighth fund by six months. The Australian GP was expected to return to market in the first half of this year, having closed its previous vehicle in 2012.
Advent raises $13b for global fund
Advent International has closed its eighth global fund at the hard cap of $13 billion after approximately six months in the market.
Asian outlier: Standard Chartered and secondaries direct
Over the past three years, Standard Chartered has completed Asia’s largest secondary direct deal and put its PE unit in a position to raise fresh capital. But it is not necessarily a harbinger of things to come
Renminbi fund-of-funds: Commercial remit
Renminbi-denominated fund-of-funds have found a new lease of life in China as new private sector entrants and reformed state-backed incumbents look to tap a growing domestic LP base
Sequoia targets $1.45b for China VC, growth funds
Sequoia Capital is expected to raise up to $1.45 billion for its latest China venture and growth funds, having penciled in April 7 for a final close.
NZVIF commits $13.5m to Movac's fourth fund
New Zealand Venture Investment Fund (NZVIF) has committed NZ$20 million ($13.5 million) to the fourth fund of domestic early-stage investor Movac Partners.
Altos closes second Korea VC fund at $110m
US-based venture capital firm Altos Ventures has closed its second Korean Opportunity Fund (KOF) at the hard cap of $110 million.
Gaja targets mix of majority, minority India deals
One of the first two investments from Gaja Capital's recently closed third fund is a control transaction and Gopal Jain, the firm's managing partner, expects more of the same as the Indian economy matures.
Partners Group raises $2.8b for global secondaries program
Partners Group has closed its sixth dedicated private equity secondary program at the hard cap of EUR2.5 billion ($2.8 billion).
PE investors to exit China's Happigo Home Shopping
Hony Capital, CITIC Private Equity and Sequoia Capital are set to exit Happigo Home Shopping, a Shenzhen-listed online and TV shopping subsidiary of Hunan TV.
CPPIB, Kotak form $525m India distressed asset vehicle
Canada Pension Plan Investment Board (CPPIB) will partner with Kotak Mahindra Group to invest up to $525 million in distressed assets in India.
Korea's POBA to double offshore PE allocation
South Korea’s Public Officials Benefit Association (POBA) plans to double its allocation to offshore private equity funds this year to $200 million.
JC Flowers, Ambit form India stressed asset JV
US-based private equity firm J.C. Flowers will form a joint venture with India's Ambit Holdings to buy stressed assets in India.
NewQuest reaches first close on Fund III, hires ex-CVC executive
Direct secondaries specialist NewQuest Capital Partners has reached a first close of just over $500 million on its third fund, beating the initial target for the entire vehicle.
Lightspeed closes latest funds at $1.2b
Lightspeed Venture Partners has closed its latest global fund at $715 million, and raised an additional $500 million for a follow-on vehicle.
Shanghai Chengtou commits to Hony's Fund VIII
Shanghai Chengtou Holding, a Shanghai-listed property developer which is also a portfolio company of Hony Capital, has committed RMB400 million ($62 million) to the GP’s latest China fund.
India's Paragon reaches $50m first close on maiden fund
Paragon Partners, an India-based mid-market private equity firm founded last year, has reached a first close of $50 million on its debut fund.
Fund focus: Pfingsten stresses its Asia angle
US-based Pfingsten Partners raises $382 million for Asia manufacturing investments
Direct investment: Embracing the unorthodox
The effect of direct investment and co-investment by LPs is more profound than often realized, and has consequences for the future of fundraising
Kotak Mahindra Group raises $237m for Indian realty
India’s Kotak Mahindra Group has closed a commitment of INR16 billion ($237 million) from institutional investors for equity investments in realty projects.
500 Startups launches $10m Vietnam fund
US-based accelerator 500 Startups has launched its latest country-specific fund with a target of $10 million for investments in Vietnam.