Fundraising
Shanghai Pharma establishes $469m healthcare fund
Chinese drug maker Shanghai Pharmaceuticals Group has partnered with Shanghai Real Power Capital to launch a healthcare-focused fund with a target of RMB3 billion ($469 million).
India's StartupXSeed launches $4.5m venture fund
Indian seed-stage venture investment firm StartupXSeed has launched a VC fund, with an initial corpus of INR300 million ($4.5 million), to invest in Indian technology start-ups.
OCBC closes debut SME-focused PE fund at $392m
Singapore's OCBC Bank has closed its debut small and medium-sized enterprise-focused fund at S$550 million ($392 million).
CGN PE, Morrison & Co in first close on China renewables fund
JIDA Capital Partners, an investment arm of New Zealand’s HRL Morrison & Co, and Shenzhen-based CGN Private Equity have reached a first close of RMB1.87 billion ($292 million) on their China-focused renewable energy fund.
Taiwan plans $609m M&A fund
Taiwan's National Development Council (NDC) will launch a NT$20 billion ($609 million) fund to assist domestic companies with mergers and acquisitions.
IFC to back Jungle Venture's second fund
International Finance Corporation (IFC) will invest up to $10 million in Singapore-based Jungle Ventures' second venture capital fund.
Fund focus: Lightspeed gets traction in India
In 2010, Lightspeed Venture Partners concluded that it could more effectively tap China’s burgeoning technology space with a dedicated country fund. A China vehicle was duly launched and reached a final close in 2013 at $168 million.
India's IIFL to raise $153 million VC fund
IIFL Wealth Management, the Indian financial services firm backed by Fairfax Holdings and the Carlyle Group, will raise a seed venture fund of up to INR10 billion ($153 million).
PE-backed La Chapelle, Legend Capital launch PE fund
Hong Kong-listed Shanghai La Chapelle Fashion, a ladies' apparel maker backed by a string of PE investors, has partnered with Legend Capital to set up a PE fund worth RMB153 million ($24 million).
Religare reaches final close of $78m on first debt fund
Religare Credit Advisors has announced a final close of the domestic vehicle of its first debt fund, Religare Credit Opportunities Fund, at INR5.1 billion ($78 million).
Warburg's Chang Sun targets $1b China agribusiness fund
Black Soil Capital Partners, a private equity firm newly formed by Chang Sun, formerly Asia managing director at Warburg Pincus, is looking to raise $1 billion for its debut China agriculture-focused fund.
Lightspeed reaches $135m final close on India fund
US-based Lightspeed Venture Partners has reached a final close on its first India-focused fund at the hard-cap of $135 million.
China’s Banyan Capital closes second RMB fund at $89m
Chinese venture capital firm Banyan Capital has raised RMB560 million ($89 million) for its second renminbi-denominated fund.
CDH to raise $600m China mid-market fund
CDH Investments is looking to raise $600 million for a China mid-market fund, with half of the corpus in US dollars and the other half in renminbi.
China’s CASH Capital targets $193m for Fund II
CASH Capital, the venture capital arm of the state-owned Chinese Academy of Sciences Holdings (CASH Holdings), is seeking to raise RMB1.2 billion ($193 million) for its second renminbi-denominated venture fund.
Ex-IDG partners seek $160m for debut China TMT fund
Feng Li and Ben Lin, formerly partners at IDG Capital Partners, are looking to raise RMB1 billion ($160 million) for their debut China venture fund.
Fund focus: CDIB’s differentiated middle-market play
It was 2008 and CDIB Capital, the PE arm of Taiwan’s China Development Financial (CDF), had been looking at potential investments in the online gaming space. However, most of the companies it found were overvalued or deemed too risky because their livelihoods...
Fund focus: IVFA sees slow turn in LPs' India sentiment
A host of India-focused GPs are currently in the market, looking to raise funds on the back of improved investor sentiment following the election of reformist Prime Minister Narendra Modi last year.
India exits: Where’s the cash?
India Value Fund Advisors (IVFA) has now raised five funds. The first is fully liquidated and the second is close to that mark. The third will deliver the bulk of the $600-700 million the GP expects to return to LPs this year, and the fourth – a 2009...
Australia’s QIC in $735m first close on global infrastructure fund
QIC, an investment manager controlled by the Queensland government, has reached a first close of more than A$1 billion ($735 million) on its global infrastructure fund. The overall target is A$1.75 billion.
CDIB closes debut Asia fund at $405m
CDIB Capital, the private equity arm of Taiwan’s China Development Financial (CDF), has reach a final close of $405 million on its maiden Asian fund.
IVFA reaches $700m final close on India fund
India Value Fund Advisors (IVFA) has reached a final close on its fifth India-focused fund at the hard cap of $700 million.
Golden Gate reaches first close on SE Asia VC fund
Singapore-based Golden Gate Ventures has reached a first close of $35 million on its second Southeast Asia-focused fund, Golden Gate Ventures Fund II.
LP interview: Germany's DEG
Active in Asia for 50 years, German development finance institution DEG can claim a role in the emergence of PE in the region. Singapore-based Marcus Bracht explains how its strategy has evolved since then.