Fundraising
Fund focus: Unicorn prepares for turbulence in China's VC space
China-focused venture capital fund-of-funds Unicorn Capital Partners, which has raised $350 million for its latest vehicle, expects consolidation in the tech investment space as underperforming GPs flounder
Ascendent surpasses $1b for latest China fund
Ascendent Capital Partners has closed its third China fund with more than $1 billion in commitments, having increased the hard cap.
Ex-Baidu executive raises $29m China business services fund
Longzhong Xinyi, a venture capital firm established by Hailong Xiang (pictured), formerly a senior executive at Baidu, has raised RMB200 million ($29 million) for its debut fund.
VIG reaches $810m final close on fourth Korean fund
VIG Partners has closed its fourth Korea-focused fund at $810 million, with approximately half the commitments coming from international investors. This compares to 30% for Fund III, which closed at $600 million in 2017.
Timeline: 2019 by numbers
A selection of the key fundraising, investment and exit events - presented in chronological order - from the past 12 months
CPPIB to invest $225m in Bain, Piramal India distress fund
Canada Pension Plan Investment Board (CPPIB) has committed $225 million to India Resurgence Fund (India RF), a distressed assets investment platform established by Bain Capital Credit and Piramal Enterprises.
Indonesia's Alpha JWC Ventures closes second fund at $123m
Indonesia-based early-stage investor Alpha JWC Ventures has closed its second fund oversubscribed at $123 million.
AIIB backs two energy, infrastructure funds
China-headquartered Asian Infrastructure Investment Bank (AIIB) is set to anchor two private equity funds, including an energy-focused vehicle, with a total commitment of $125 million.
Fund focus: Azalea embraces equity with fund-of-funds offering
Temasek Holdings-owned Azalea Asset Management previously used debt structures to give high net worth investors PE exposure. Its $650 million fund-of-funds is the firm’s first direct equity offering
3one4 closes India venture, seed funds
India’s 3one4 Capital has closed its latest venture capital fund with INR4 billion ($57 million) in commitments and raised INR450 million for seed investment vehicle.
2019 in review: Falling short
Fundraising, investment and exits in Asia are unlikely to match last year as pan-regional funds take a back seat, large-cap buyouts remain in short supply, growth-stage tech loses its edge, and IPOs flounder
China-Australia biotech fund raises $31m
UniSA Ventures, a tech commercialization unit of the University of South Australia, has secured A$45 million ($31 million) from a group of Chinese investors for an Australia-focused biotechnology fund.
Singapore's Vertex receives $180m for global fund-of-funds
Vertex Ventures, a VC arm of Singapore’s Temasek Holdings, has received commitments of $180 million from Japanese investors for a fund-of-funds that will support its global portfolio of VC vehicles.
Centurium seeks $2.5b for second China fund
China-focused private equity firm Centurium Capital is back in the market looking to raise $2.5 billion for its second US dollar-denominated fund, barely six months after reaching a final close on its first.
Apis closes Fund II at revised hard cap of $563m
Apis Partners has closed its second emerging markets-focused financial services and technology fund at the revised hard cap of $563 million. The initial target was $400 million.
CPPIB commits $600m to state-backed Indian infrastructure fund
Canada Pension Plan Investment Board (CPPIB) has agreed to invest up to $600 million in NIIF Master Fund, a rupee-denominated infrastructure vehicle anchored by the Indian government.
Circulate hits first close on Asian ocean protection fund
Circulate Capital, a Singapore-based investor dedicated to stemming plastic waste pollution in South and Southeast Asia, has reached a first close of $106 million for an ocean protection fund.
Prologis launches $1.7b China logistics fund
US-based logistics and supply chain investor Prologis has established a $1.7 billion China fund as part of a broader country expansion.
AIIB, Clifford Capital launch $2b infrastructure platform
The Asian Infrastructure Investment Bank (AIIB) and Clifford Capital, a Singaporean infrastructure investor, have jointly launched an approximately $2 billion debt platform.
Accel closes sixth India VC fund at $550m
Accel Partners has closed its sixth early-stage India venture capital fund with $550 million in commitments.
GLP launches $2.1b China logistics fund
GLP, a private equity-owned warehouse operator based in Singapore, has set up a China logistics fund at RMB15 billion ($2.1 billion).
IFC to back Mekong's latest Vietnam fund
IFC has proposed to invest up to $30 million in the latest fund from Vietnam-based private equity firm Mekong Capital.
China's Loyal Valley closes second US dollar fund at $465m
China’s Loyal Valley Capital has closed its second US dollar-denominated fund at $465 million. The target was $400 million with a hard cap of $440 million.
Vietnam's FEBE Ventures launches $25m fund
FEBE Ventures, a Vietnam-based early-stage investor set up earlier this year, has launched a $25 million for targeting local and cross-border technology start-ups.