Fundraising
Korea’s Anchor Equity closes debut fund at $500m
Anchor Equity Partners has reached a final close on its debut South Korea-focused fund at the hard cap of $500 million. The firm – set up last year by a group that spun out from Goldman Sachs’ private equity unit – targets buyout, growth capital...
SBI, FMO target up to $125m for Asia financial sector fund
Japan's SBI Holdings and the Netherlands Development Finance Company (FMO) are looking to raise as much as $125 million for their SBI-FMO Emerging Asia Financial Sector Fund.
Indonesia's Falcon House closes maiden fund at $212m
Falcon House Partners, an Indonesia mid-market GP, has reached a final close on its maiden fund at $212.4 million, exceeding its original $200 million target, nearly two years after launch.
Walden to launch $100m India semiconductor start-ups fund
Walden International will launch a fund to invest in Indian semiconductor-related start-ups. It already manages a similar vehicle focused on China.
3Q analysis: Haves and have nots
Third quarter analysis: Fundraising fortunes become ever more polarized; Korea continues to be the stand-out buyout market, while India shows growth from a very low base; China IPOs are on the comeback trail
Sovereign assets surpass $5t, Asian groups see fastest growth
Asia-based sovereign wealth funds have seen their assets under management (AUM) increase 19% since 2012, faster than any other region. Sovereign funds globally had an estimated collective AUM of $5.38 trillion as of October this year, up from $4.62 trillion...
GIC Private to anchor IFC Global Infrastructure Fund
Singapore sovereign wealth fund GIC Private has become an anchor investor in IFC Global Infrastructure Fund - a vehicle administered by the fund management arm of International Finance Corporation (IFC), IFC Asset Management Company (AMC) - which reached...
Japan's Mitsubishi launches energy-focused fund-of-funds
Japan's Mitsubishi Corp. has led the launch of a $300 million US energy-focused private equity fund-of-funds. Energy Opportunity Fund is expected to reach its target by September next year.
MBK closes third North Asia buyout fund at $2.7b hard cap
MBK Partners has closed its third fund at the hard cap of $2.7 billion after just over one year in the market. The North Asia-focused GP, which was founded by Michael B. Kim, former president of Carlyle Asia Partners, set an initial target of around $2.25...
Apollo mulls raising investment limit on global fund - report
Apollo Global Management is reportedly considering seeking approval to raise the limit on its new flagship fund in response to strong investor interest.
Nominations for the AVCJ India Awards - final call
Nominations for the 2013 AVCJ India Awards close today. This is the industry's last chance to highlight the leading fundraises, investments, exits, professionals and firms of the last 12 months.
Mavcap to launch fund targeting tech-based companies
Malaysia Venture Capital Management (Mavcap) plans to launch a $200 million investment fund platform fund later this year that will back technology-based companies at home and abroad.
Asia PE fundraising recovers to $9.5b in third quarter
Asia-focused private equity funds raised $9.5 billion in the third quarter of 2013, up from the multi-year low of $5.2 billion in the previous quarter, according to provisional data from AVCJ Research. A total of 54 vehicles reached a partial or final...
Kyoto University launches $60m venture fund
Japan's Kyoto University has launched its second venture fund, a $60 million vehicle which will invest in start-ups in Japan and the rest of Asia.
500 Startups raises $44.1m second fund
Silicon Valley-based incubator 500 Startups has held a final close of $44.1 million second fund that will back seed and accelerator companies. The vehicle – 500 Startup Fund II - is larger than its predecessor but below the $50 million target.
Yamaguchi bank launches $30.7m SME restoration fund
Yamaguchi Capital and the Regional Economy Vitalization Corporation of Japan have together set up a JPY3 billion ($30.7m) fund - Yamaguchi Business Restoration Fund - to provide capital to distressed small- and medium-sized businesses (SME).
Northstar Group seeks to raise $1b Southeast Asia fund
Northstar Group, the Singapore-based private equity firm backed by TPG Capital, is looking to raise around $1 billion for its fourth fund, which will focus on Southeast Asia.
CITIC Goldstone to end US dollar fund, continue RMB fund
Goldstone Investment, the direct investment arm of China’s CITIC Securities, is likely to discontinue its US dollar-denominated fund but the firm will remain active on the renminbi side.
Hony among first batch of companies to set up in Shanghai free trade zone
Hony Capital was among the first batch of companies to be awarded licenses to operate in Shanghai's new free trade zone, which is being touted as a new test bed for economic reform.
Singapore government to invest $39m in start-up ecosystem
The Singapore government is to pump an extra S$50 million ($39 million) into its early stage co-investment vehicle in a bid enliven the city state's start-up ecosystem.
Asian LPs deploy more capital in private equity – Preqin
More than 70% of Asian institutional investors have committed to at least one private equity fund so far this year and close to nine in 10 expect to allocate the same or more capital to the asset class in 2014 compared to 2013.
PE managers target diversification through greater transparency
Private equity fund managers are placing greater emphasis on transparency – specifically more frequent and detailed reporting on fund holdings and associated risk factors – as a means by which to differentiate themselves in a challenging fundraising...
Australia’s Ironbridge alters LP secondary exit proposal
Ironbridge Capital’s LPs will not be obliged to commit capital to a new fund as a condition of participation in a vehicle set up by the Australian GP to absorb assets held by its first two funds. AVCJ understands that the proposal has been amended so...
SMRJ, Daiichi Sankyo, Mitsubishi UFJ launch $10m pharma fund
The Organization for Small & Medium Enterprises and Regional Innovation Japan (SMRJ), pharmaceutical firm Daiichi Sankyo and Mitsubishi UFJ Capital are together launching a new JPY1 billion ($10 million) fund to invest in pharmaceutical start-ups working...