Gobi Partners has reached its HKD 2bn (USD 256m) target for AEF Greater Bay Area (GBA) Fund, the successor to Alibaba Hong Kong Entrepreneurs Fund, according to Chibo Tang, a managing partner with the firm.
The Monetary Authority of Singapore (MAS) has committed to invest up to SGD 150m (USD 111.5m) over three years in the local VC and financial technology start-up ecosystem.
Malaysia-based early-stage investor Vynn Capital has reached a first close of unspecified size on its second fund, with strong support from corporates and family offices in Southeast Asia.
BlackRock will manage a climate fund launched alongside the New Zealand government with a target of NZD 2bn (USD 1.2bn). It will focus on renewable energy.
Side Stage Ventures, an Australian early-stage investor set up last year, has reached a first close of AUD 15m (USD 9.8m) on its debut fund. The target is AUD 30m.
GLP Capital Partners, an alternatives fund manager controlled by warehouse operator turned logistics and infrastructure investment manager GLP, has closed a CNY 4bn (USD 556m) China clean energy fund.
India’s Elev8 Venture Partners has reached a first close of USD 67m on its debut growth-stage venture fund with Korea’s KB Investment as the anchor LP. The target is USD 200m.
Japanese middle market private equity firm Endeavour United has closed its third fund with JPY 53bn (USD 370m) in commitments, a two-thirds increase in size on the previous vintage.
The Longreach Group is looking to raise USD 800m for its fourth fund, which will continue the firm’s existing strategy of mid-market control deals in North Asia with an emphasis on Japan.
India’s Pi Ventures, an artificial intelligence (AI) and deep tech specialist, has closed its second fund with INR 7bn (USD 85m) in commitments.
Japan’s Miyako Capital, an independent VC firm affiliated with Kyoto University, has launched its third deep tech fund with a target of JPY 20bn (USD 140.2m).
Nominations for the 2023 AVCJ Private Equity & Venture Capital Awards have now closed. Thanks to all who participated. Voting will open in about two weeks.
North Asia-focused buyout firm MBK Partners has set a target of USD 7bn for its sixth flagship fund, according to three sources familiar with the situation.
China-focused 5Y Capital has set a target of USD 700m for its latest venture capital fund – in line with what the manager raised in the previous vintage.
UCK Partners, a South Korean private equity firm formerly known as Unison Capital Korea, has accumulated approximately KRW 1trn (USD 777m) across two incremental closes on its third fund.
Proterra Asia has been investing in food and agriculture across the region for 13 years. This will continue, regardless of tweaks in management entity ownership and fund structure
India’s Together Fund, an early-stage VC firm focused on artificial intelligence (AI) and software-as-a-service (SaaS), has reached a first close of undisclosed size on its second fund. The target is $150m.
Goodwater Capital, a US-based VC firm with a presence in Korea and significant Asia exposure, has raised USD 1bn across two funds. It brings assets under management to USD 3.3bn.
Australian deep tech VC firm Main Sequence has reached a AUD 450m (USD 305m) first close on its third fund, bringing overall funds under management to about AUD 1bn.
Eurazeo shattered the target for its second smart city fund thanks to an agenda that dovetails with LP interest in decarbonisation. Nine Asian LPs backed the fund and 35% of the corpus will be deployed in the region
Maps Capital, a private equity investment arm of Mirae Asset Financial Group, has launched its second US dollar-denominated fund with a target of USD 200m.
Japanese power producer and utility Jera has launched a USD 300m venture capital programme aimed at sustainability-themed technology start-ups and related funds.
France-based GP Eurazeo won support from several Asian institutional investors for its latest smart city fund, which has closed on EUR 400m (USD 445m). The vehicle is also expected to deploy significantly in the region.
Asia PE fundraising reached USD 60.3bn in the first half of 2023, down 7.6% year-on-year, but the total was still skewed upwards by activity in the renminbi-denominated space. Capital committed to US dollar funds alone was USD 21.8bn, down from USD 48.2bn.