Fundraising
World Innovation Lab raises $521m for US-Japan fund
World Innovation Lab (WiL) has raised $521 million for a US-Japan venture capital fund.
China launches $4.6b technology-focused guidance fund
The Beijing government has launched a RMB30 billion ($4.6 billion) innovation-focused fund-of-funds that will not only make investments locally but also commit capital overseas with a view to bringing technologies to China.
AIIB approves $100m commitment to Indian sovereign fund
The Asian Infrastructure Investment Bank (AIIB) has approved a $100 million investment in the National Investment and Infrastructure Fund (NIIF), an Indian government-backed vehicle intended to mobilize investment in infrastructure.
Matrix raises $750m for fifth China VC fund
Matrix Partners China has raised $750 million for its fifth venture capital fund to invest in the technology, cleantech, education, energy, healthcare and financial services sectors in China.
Carlyle closes Asia fund at $6.55b
The Carlyle Group has closed its fifth Asia buyout fund at $6.55 billion, exceeding its predecessor by more than 65%.
Japanese LPs emphasize portfolio diversification - AVCJ Forum
Diversification – by vintage, geography, and strategy – is the priority for Japan’s largest institutional investors as they develop their private equity programs, but they accept that portfolio-building can be challenging.
Delta Capital closes Myanmar fund at $70m
Delta Capital Myanmar, formerly known as PMM Partners, has achieved a final close of about $70 million for its second private equity fund. The GP was targeting $100 million.
Centurium reaches $1b first close on China fund
Centurium Capital, the private equity firm established by ex-Warburg Pincus China head David Li, has reached a first close on its debut fund of nearly $1 billion.
Japanese LPs value site visits with infrastructure managers
Japanese corporate pension funds are looking to increase their allocations to infrastructure, but they value the opportunity to visit managers before committing capital.
Everstone reorganizes fundraising teams
India and Southeast Asia-focused private equity firm Everstone Group has reorganized its global fundraising operation following the departure of managing director Atul Phull.
Japanese LPs: Stirring giants
Japan’s LP landscape is in a state of flux as several large-scale investors ramp up their alternatives programs. The industry must prepare itself, in terms of personnel, structures, and expectations
Blackstone closes debut Asia PE fund at $2.3b
The Blackstone Group has achieved a final close on its maiden Asia-focused private equity fund at a revised hard cap of $2.3 billion.
India's Axilor launches $30m seed fund
Indian early-stage investor and accelerator Axilor Ventures has launched a INR2 billion ($30 million) fund aimed at seed investments in Indian start-ups.
Japanese LPs: The long walk
PE firms have been trying to open up the Japanese LP market for years. Now that local institutions are showing a greater appetite for alternatives, it is unclear who will manage their investment programs
Fund focus: Anacacia eyes middle-market harvest
Anacacia Capital attracts a record amount from foreign LPs as its third Australia mid-market buyout fund closes at the hard cap of $225 million
Actis hires new Asia investor relations head
Actis has appointed Ellen Li, formerly of Janus Henderson Global Investors, as a managing director and head of its investor development group in Asia.
Key person clauses: Man overboard
The complexity of a private equity firm’s key person clauses – and the number of people they encompass – says much about its institutionalization. The transition is not always easy, for GPs or LPs
LPs warn of impending downturn in Asia
Institutional investors are preparing for a downturn in Asia – and emphasizing the importance of disciplined deployment – as they see worrying “pro-cycle market behavior” in the private markets space globally.
Fund focus: Pivotal’s urge to incubate
Nan Fung Group has established Pivotal Bioventure Partners China to build a concentrated portfolio of high-quality life science assets and nurture them from inception to exit
ICOs: Normalizing the future
The application of virtual tokens as investment instruments is modernizing the venture capital industry. Stakeholders are discovering a range of pitfalls and possibilities during the transition
Apis targets $400m for emerging markets growth fund
Apis Partners is targeting $400 million for its second middle-market growth fund focused on financial services and technology investments in emerging markets, with a $500 million hard cap.
China VC: Selection issues
China's venture capital space is increasingly popular among LPs, overpopulated by GPs, and generally difficult to navigate
Japan's Gumi raises $30m for blockchain VC fund
Gumi, a Japanese mobile game publisher backed by a number of VCs, has secured $30 million for a venture capital fund that will invest in blockchain and cryptocurrency start-ups.
Korea Post Insurance to allocate $200m to global buyout funds
Korea Post Insurance plans to allocate $200 million to as many as three managers focusing on global buyouts, predominantly in North America and Europe.