Fundraising
Fund focus: DCL targets China's unremitting debtors
With $455 million in commitments for its latest renminbi fund, DCL Investments hopes to make its on-the-ground capabilities count in resolving China’s non-performing loans problem
Australia's EVP hits $37m first close on Fund III
Australia’s Equity Venture Partners (EVP) has reached a first close of A$50 million ($37 million) on its third early-stage B2B software fund.
LPs back Adamantem's emissions reduction drive
Australia’s Clean Energy Finance Corporation (CEFC) has made its first commitment to a private equity fund, coming in as an anchor investor in Adamantem Capital’s second buyout vehicle.
Israel's OTV raises $170m, plans Asia expansion
OTV, an Israeli VC firm focused on digital health, has closed its latest fund at $170 million, opened a China office, and appointed a new head of Asia to spearhead an expansion in the region.
Singapore's Velocity Ventures launches travel fund
Velocity Ventures, a Singapore-based VC firm focused on travel and hospitality, has launched its debut early-stage fund targeting Southeast Asia with a target of $20 million.
China Everbright raises $459m for BRI fund
China Everbright has reached a first close of RMB3 billion ($459 million) on an environment-focused fund that concentrates on economies covered by the Belt and Road Initiative (BRI).
Deal focus: Huaxing gives overseas LPs taste of China medtech
In addition to raising $213 million for its latest renminbi-denominated fund, Huaxing Healthcare Capital sourced $230 million from co-investors for a succession deal in China’s orthopedics space
VC unit of Japan's KLab spins out, rebrands as Anobaka
KVP, the VC unit of Japanese mobile games company KLab, has spun out as an independent entity under the name Anobaka.
Ex-Capital Dynamics executive gets Japan fund-of-funds mandate
Kazushige Kobayashi, formerly of Capital Dynamics, has won a fund-of-funds mandate from the Tokyo government to be managed by a dedicated team set up under Asian alternatives group MCP Asset Management.
Japan's MedVenture closes second fund at $95m
MedVenture Partners, a Japanese VC firm focused on medical devices, has closed its second fund with JPY9.9 billion ($95 million) in commitments.
Australia's NextGen launches AI fund
NextGen Funds Management, a newly established GP in Australia, has launched what it is calling the country’s first dedicated artificial intelligence (AI) fund.
Asian fund-of-funds: Local linchpins
The Asian fund-of-funds community has shrunk considerably over the last 10 years as a result of M&A, withdrawals and repositioning. How do the survivors, from Axiom Asia and Asia Alternatives down, deliver value to LPs?
AIIB backs ADM's renewable energy debt fund
Asian Infrastructure Investment Bank (AIIB) has committed $100 million to an Asia-focused debt fund dedicated to renewable energy managed by Hong Kong’s ADM Capital.
Axiom closes latest Asia fund-of-funds at $1.8b
Axiom Asia has closed its sixth pan-regional fund-of-funds at the hard cap of $1.8 billion, claiming that the economic fallout from COVID-19 has created more investment opportunities.
BRI reaches first close on Indonesia fund
BRI Ventures, a unit of Bank Rakyat Indonesia has reached the first close of IDR150 billion ($11 million) on its locally incorporated tech venture fund.
MDI, Finch launch $40m ASEAN fund
MDI Ventures, the corporate VC arm of state-controlled Telkom Indonesia, has teamed up with financial technology investor Finch Capital to form a $40 million fund targeting early-stage investments in Southeast Asia.
Fund focus: Equis' infrastructure overhaul
Swapping a traditional fund for a less familiar corporate vehicle represented a gamble for Equis, but the Asian infrastructure manager was confident its approach would make sense to a subset of investors
CDH hits first close on China data center fund
CDH Investments has reached the first close of RMB1.5 billion ($228 million) on a data center industry fund. Part of the Chinese GP's mezzanine strategy, the vehicle has a full target of RMB2 billion.
Warburg Pincus, Advantage honored at AVCJ Awards
Warburg Pincus and Advantage Partners triumphed in the firm of the year categories at the 2020 AVCJ Private Equity & Venture Capital Awards, with The Carlyle Group and Affinity Equity Partners also among the winners with two trophies apiece.
Large LPs willing to explore riskier growth options – AVCJ Forum
Institutional investors looking to diversify their growth portfolios are increasingly turning to technology and emerging managers, the AVCJ Forum heard.
Global LPs want more control in China – AVCJ Forum
North American and European LPs see promise in Asia, and China in particular, but remain wary due to a lack of control opportunities, especially in the context of COVID-19.
PE firms look to move fund management companies onshore - AVCJ Forum
Private equity investors are willing to reconsider their options regarding the location of their fund management companies even as they remain wedded to the Cayman Islands as a domicile for funds, the AVCJ Forum heard.
Fund focus: Future Capital looks forward
Cloud-based infrastructure, logistics technology, mobility solutions and the internet of things are key themes for Future Capital as it begins to deploy its latest China-focused early-stage technology fund
Virtual AGMs & IR: Close encounters
The technology is available to facilitate informal discussions at virtual AGMs, but do these solutions present an acceptable substitute for physical interaction, and do GPs and LPs want to use them?