Fundraising
Sequoia India raises $195m for latest seed fund
Sequoia Capital India has closed a second seed fund under its Surge accelerator program at $195 million. Like its predecessor, it will target start-ups in India and Southeast Asia.
Baring targets $8.5b for eighth pan-Asia fund
Baring Private Equity Asia is back in the market seeking $8.5 billion for its eighth pan-regional fund, less than 15 months after closing Fund VII at $6.5 billion.
Hony launches China healthcare, consumer SPAC
Hony Capital has joined a string of Chinese private equity managers with special purpose acquisition vehicles (SPACs), targeting $300 million for healthcare and consumer deals.
IFC to invest $25m in Gaja's fourth India fund
The International Finance Corporation (IFC) has proposed a $25 million commitment to the fourth private equity fund from India’s Gaja Capital. The target corpus is $400 million.
Hong Kong's Gly Capital launches $300m mobility tech fund
Gly Capital, a Hong Kong-based investor controlled by Chinese auto giant Geely, has launched a $300 million mobility tech fund.
China VC player Source Code to raise $1b
Source Code Capital, a Chinese venture capital firm founded by Yi Cao (pictured), formerly of Sequoia Capital China, is set to raise $1 billion across two funds.
India's Ankur Capital raises $45.5m for Fund II
Indian early-stage technology investor Ankur Capital has reached an incremental close of INR3.3 billion ($45.5 million) against a target of INR3.5 billion.
Ant Capital seeks $461m for sixth Japan fund
Ant Capital Partners has set a hard cap of JPY50 billion ($461 million) for its sixth Japan buyout fund, with a first close on as much as half that total provisionally scheduled for the end of April.
Fund focus: See Fund backs university talent
Having launched his own start-up on campus, Song Yao of See Fund is returning to China’s academic institutions to look for the next generation of hard technology unicorns
Fund focus: Openspace says it with distributions
Openspace Ventures launched its $200 million third fund comfortable in the knowledge that the first two were top-quartile performers. IPOs, trade sales and partial secondary exits have all played a role
Shariah investors in PE: Tailored exposure
Employees Provident Fund’s $600 million shariah-compliant co-investment mandate suggests increasing institutional appetite for Islamic finance solutions in private equity. Is the industry ready?
SPACs in Asia: Out of the comfort zone
Several Asian stock exchanges will consider allowing SPAC offerings, but implementation may run contrary to their regulatory ethos – and there is no guarantee of a strong market response
L Catterton Asia raises SPAC for consumer deals
L Catterton Asia has raised $250 million for a special purpose acquisition company (SPAC) that will focus on high-growth consumer technology assets within the region.
Openspace raises $200m for third Southeast Asia VC fund
Openspace Ventures has closed its third Southeast Asia fund – which targets Series A and B rounds for companies with B2C and B2B technologies – at the hard cap of $200 million.
MDV, Kenanga launch $73m Malaysia fintech fund
Malaysia Debt Ventures (MDV) and Kenanga Investment Bank have launched a VC fund focused on the local financial technology space with a target of MYR300 million ($73 million).
US-Japan VC hits $75m first close on cross-border fund
SIP Global Partners, a US and Japan-headquartered VC firm, has reached a first close of $75 million on its debut cross-border fund. The target is $150 million.
Fund focus: Asia Partners eyes Southeast Asia's white space
The growth-stage funding gap is approximately $1.1 billion per year in Southeast Asia, according to Asia Partners. The GP now has $384 million in dry powder to try and fill it
Temasek agrees $500m tie-up with impact investor LeapFrog
Temasek Holdings has committed $500 million to Asia and Africa-focused impact investor LeapFrong Investments, which will see it participate as an anchor LP in the firm’s future funds.
India's Edelweiss targets $686m for pre-IPO fund
Edelweiss Wealth Management (EWM) is looking to raise INR50 billion ($686 million) for its third fund focusing on late-stage growth and pre-IPO investments in India.
Q&A: Everstone Group's Sameer Sain
Sameer Sain, co-founder and CEO of Singapore-based and India-focused Everstone Group, explains why he’s doubling down on ESG and on a hands-on buyout strategy that prioritizes bargain hunting
Addor raises $241m for second China healthcare fund
Addor Capital – a Chinese VC firm backed by Jiangsu High-Tech Investment Group, also known as Govtor Capital – has raised RMB1.56 billion ($241 million) for its second renminbi-denominated healthcare fund.
India's Trifecta closes venture debt fund at $140m
India’s Trifecta Capital has closed its second venture debt fund with $140 million in commitments. The firm raised about $68.4 million for its debut vehicle in 2017.
Founder of China's Zhencheng Capital launches SPAC
Jianwei Li, founding and managing partner of Chinese venture capital firm Zhencheng Capital and previously CIO at ZhenFund, has launched a special purpose acquisition company (SPAC).
Asia Partners closes debut SE Asia fund at $384m
Singapore’s Asia Partners has closed its debut Southeast Asia VC fund at $384 million, describing it as the largest-ever first-time technology vehicle focused on the region.