Fundraising
GGV targets $2b for China, US tech investments
GGV Capital will return to market with its latest set of China and US-focused funds, seeking to raise an aggregate $2 billion, up from $1.88 billion in the prior vintage.
Fund focus: Qiming's cleantech team spins out, raises $73m fund
Inspiration Capital, a spinout from Qiming Venture Partners, has raised RMB500 million for its debut fund that focuses on cleantech and advanced manufacturing investments in China
BA Capital raises $147m for renminbi fund, hits first close on dollar fund
BA Capital, a Shanghai-based venture capital firm also known as Black Ant Capital, has raised RMB1 billion ($147 million) for its second renminbi-denominated fund.
CLSA closes fourth Japan fund at $450m
CLSA Capital Partners (CLSA CP) has closed its fourth Japan mid-market fund at $450 million after approximately three months in the market.
Panlin raises $148m for China VC fund
Shanghai-based venture capital firm Panlin Capital has raised RMB1 billion ($148 million) in its latest early-stage fund having spent about 16 months in the market.
Fund focus: A window of opportunity
With $600 million in dry powder in its third Huaxing Growth Capital US dollar-denominated fund, China Renaissance has demonstrated a willingness to deploy while others hold back
Japan's 31 Ventures establishes second fund with $81m
Japan-based 31 Ventures, a VC firm established by local investor Global Brain and property developer Mitsui Fudosan, has launched a second fund of JPY8.5 billion ($81 million).
LP interview: Canada Pension Plan Investment Board
For Canada Pension Plan Investment Board, COVID-19 has reinforced the key tenets of its Asia investment strategy, from being flexible on timeline to putting boots on the ground
US LPs in China: Willing buyers?
There is no clear evidence of US LPs passing on China funds as a result of tensions between the two countries, but their current or future reluctance could be shrouded in various obfuscations
Q&A: Starquest Capital's Frankie Fang
Frankie Fang, founding managing partner of China-focused fund-of-funds Starquest Capital, discusses early-stage valuations, specialization among domestic managers, and renminbi fundraising
China Renaissance closes third US dollar fund at $600m
China Renaissance has closed the third US dollar-denominated fund under its flagship Huaxing Growth Capital private equity platform at $600 million.
Vertex China closes first renminbi fund at $438m
Vertex China, a VC firm affiliated to Temasek Holdings-owned Vertex Holdings, has closed its first renminbi-denominated fund at RMB3 billion ($438 million).
Australia's Blackbird launches New Zealand fund
Australia’s Blackbird Ventures has launched a NZ$60 million ($40 million) New Zealand-dedicated fund with a cornerstone investment of NZ$21.5 million from the government.
Korea, Singapore investors back Vietnam's Do Ventures
Korea’s Naver and Woowa Brothers have joined Singapore’s Sea and Vertex Holdings as LPs in the debut fund from Vietnam-based Do Ventures.
CPPIB backs GLP Japan logistics fund
Canada Pension Plan Investment Board (CPPIB) has committed JPY25 billion ($235 million) to a fund managed by PE-owned warehouse operator GLP that is said to be the largest open-ended logistics vehicle in Japan.
3one4 hits first close on third India VC fund
India’s 3one4 Capital has reached a first close on its third flagship early-stage venture capital fund.
Fund focus: Remote diligence underpins Adamantem's first close
Australia's Adamantem Capital launched its second fund shortly before COVID-19 began to escalate, but the first close still features sizeable commitments from new investors that were unable to perform due diligence in-person
Q&A: Hong Kong Monetary Authority's Anson Law
Hong Kong’s updated limited partnership ordinance came into force this week. Anson Law, a senior manager for market development at Hong Kong Monetary Authority, explains why it’s important for the territory
Fund focus: MDI leads the way in Indonesia
MDI Ventures has seen a significant step-up in fund size because the success of Indonesia’s start-up ecosystem in recent years means investors need more firepower
LPs warn of adverse ESG impact in India - AVCJ Forum
LPs told the AVCJ India Virtual Forum that Indian private equity firms may struggle to raise capital from international investors if they don't make progress on environment, social and governance (ESG) issues.
India's Mela Ventures reaches $17.5m first close
Mela Ventures, an Indian venture capital firm launched by the co-founders of IT outsourcing player Mindtree, has achieved a first close of INR1.3 billion ($17.5 million) for its debut fund.
CDC commits $10m to India's Chiratae
UK-based development finance institution CDC Group has committed $10 million to the fourth fund being raised by India’s Chiratae Ventures.
AVCJ Awards 2020 - last call for nominations
Nominations for the 2020 AVCJ Private Equity & Venture Capital Awards will close on September 30 at 6 p.m. Hong Kong time. Please take the opportunity to have your say on the year's outstanding firms, fundraises, investments and exits.
India venture capital: Local largesse
India’s venture capital industry is entering a new decade with a growing pool of local early-stage managers, a wider variety of funding sources, and a host of new risks and opportunities