Fundraising
China's HighLight hits first close on life sciences fund, targets $650m
HighLight Capital, a China-based life sciences investor, has completed a first close of USD 540m on its fourth US dollar-denominated fund. The overall target is USD 650m.
China looks to boost PE participation by domestic insurers
Chinese Premier Li Keqiang has asked regulators to encourage investment by insurance companies in private equity and venture capital through measures such as shorter post-IPO lock-up periods.
Billionaire Venture, DBS to invest $200m in India start-ups
India’s Billionaire Venture Capital and DBS Bank have agreed to invest USD 200m in 150m Indian start-ups via a special purpose vehicle and joint venture (JV).
Fund focus: Baring restocks its dry powder
Baring Private Equity Asia claims a pipeline full of USD 1bn-plus investment opportunities to meet the needs of an USD 11bn-plus fund – but for now it is being cautious about pursuing them
Deal focus: Anchorage exits rail player, launches Fund IV
Australia-based Anchorage Capital Partners has extended a string of exits with the sale of a local rail industry player, while going to market seeking AUD 500m (USD 339m) for its fourth fund
Baring Asia hits final close on eighth pan-regional fund
Baring Private Equity Asia (BPEA), which agreed to merge with EQT earlier this year, has closed its eighth pan-regional fund with commitments of USD 11.2bn.
ADB makes LP commitment to KV Asia's second fund
Asian Development Bank (ADB) has confirmed an investment of USD 15m in the second Southeast Asia lower middle market private equity fund from KV Asia Capital.
Bessemer closes latest global VC fund on $3.85b
US-based Bessemer Venture Partners, which is currently expanding a longstanding presence in India, has closed its latest global VC fund with USD 3.85m in commitments.
Shenzhen investors offered cash handouts for Hong Kong IPOs
Shenzhen-based venture capital investors will receive one-off cash rewards for taking companies public in Hong Kong and sponsoring special purpose acquisition companies (SPACs) that list on the territory’s stock exchange.
Japan's D Capital nears target for debut PE fund
Japan’s D Capital, a private equity firm specialising in digital transformation that spun out from Unison Capital last year, has raised JPY 26bn (USD 188m) for its debut fund against a target of JPY 30bn.
Fund focus: Fundamentum finds its niche
As one of few Series B and C specialists operating in India, The Fundamentum Partnership expects to have plenty to choose from over the next two years as the glut of early-stage start-ups thins out
Fund focus: Cherubic continues to scale
Early-stage investor Cherubic Ventures initially struggled to get traction with its idiosyncratic Greater China-US strategy, but the firm sees its USD 110m haul for Fund V as validation of the thesis
GrowX team seeks $100m for spinout India VC fund
The team behind Indian angel investor GrowX Ventures has launched a separate fund targeting USD 100m under the name Merak Ventures.
Renminbi GPs wary of government guidance funds as LPs
Chinese government guidance funds represent a potentially rich source of capital for managers in the renminbi-denominated space, but some are reluctant to take it, the Hong Kong Venture Capital & Private Equity Association's (HKVCA) China forum heard....
AIGF closes second ASEAN fund on $127m
AIGF Advisors, a private equity firm sponsored by Japan’s Mitsubishi Corporation, has closed its second ASEAN-focused fund with JPY 17.3bn (USD 127m) in commitments.
LPs emphasize differentiation in China venture capital
LPs want to back Chinese venture capital firms that are differentiated from their peers, although there remains an element of discomfort with efforts to achieve this through increasingly popular China-plus strategies.
Singapore's Genesis hits first close on second venture debt fund
Singapore-based Genesis Alternative Ventures has reached a first close on its second venture debut fund, having raised nearly half the overall target of USD 150m.
China's Whale Capital achieves first close on food fund
Chinese consumer-focused VC firm Whale Capital has reached a first close of undisclosed size on its latest renminbi-denominated fund, which will specialise in the food industry. The target is CNY 500m (USD 73m).
Fundamentum raises $227m for India growth-stage tech fund
The Fundamentum Partnership, an India-based growth-stage technology investment firm established by Infosys co-founder Nandan Nilekani and Helion Venture Partners co-founder Sanjeev Aggarwal, has closed its second fund on USD 227m.
Winreal hits $150m first close on China tech fund
Winreal Investment, a China-based venture capital firm established by a former chief engineer at domestic telecom equipment provider ZTE Corporation, has reached a first close of CNY 1.3bn (USD 150m) on its latest renminbi-denominated fund.
AVCJ Awards 2022 - nominations have closed
Nominations for the 2022 AVCJ Private Equity & Venture Capital Awards have now closed. Many thanks to all those who participated.
Taiwan's Cherubic closes $110m VC fund
Cherubic Ventures, which makes early-stage investments in Asia and the US, has closed its fifth fund with USD 110m in commitments. Total assets under management now exceed USD 400m.
Stride closes India venture debt fund on $200m
India’s Stride Ventures has closed its second venture debt fund with USD 200m in commitments. The target was INR 10bn (USD 125m).