Fundraising
IFC proposes $5m commitment to Wavemaker Southeast Asia fund
The International Finance Corporation (IFC), the investment arm of the World Bank, is considering a commitment of up to $5 million to Wavemaker Partners’ Southeast Asia-focused venture capital fund.
Lilly Asia closes healthcare fund at $450m hard cap
China-focused Lilly Asia Ventures (LAV) has closed its fourth healthcare-focused fund at the hard cap of $450 million.
InnoVen co-founders launch India venture debt fund
Ajay Hattangdi (pictured) and Vinod Murali, co-founders of venture debt firm InnoVen Capital, have established their own India venture debt business and are looking to raise a $155 million fund, including a $30 million greenshoe option.
NYSTRS to invest $100m in ADV's second Asia fund
New York State Teachers’ Retirement System (NYSTRS) has disclosed a commitment of $100 million to ADV Partners’ second Asian special situations fund. The PE firm closed its debut vehicle at $545 million in 2015.
Blue Lake reaches $120m first close on China VC fund
Blue Lake Capital, a China-focused VC firm led by two former GGV Capital and Sequoia Capital executives, has reached a first close of more than $120 million on its second early-stage fund. The full target is $200 million.
Singapore's Prestellar raises $100m VC fund
Prestellar Ventures, a Singapore-based GP backed by two Nepalese companies as well as Indian microfinance institution Satin Creditcare and India-focused investor Frontline Strategies, has raised a $100 million fund.
SAIF India raises $350m for third fund
SAIF India has raised $350 million for its third fund aimed at investments in both public and private companies at varying stages of development.
PennSERS commits $100m to Asia Alternatives
Pennsylvania State Employees’ Retirement System (PennSERS) has extended its long-standing relationship with Asia Alternatives, allocating $50 million to the firm’s latest fund-of-funds product and a further $50 million to a separate account.
Alternatives: Times of plenty
The Willis Towers Watson global alternatives survey offers few surprises in terms of where investors are putting their capital, but there are some interesting developments in which investors are providing it
PAG to raise $500m China growth fund
PAG Asia Capital is raising a $500 million China growth fund, which will enable the firm to target middle-market deals that fall below the minimum check size for its pan-Asian vehicle.
India's IIML raises infrastructure fund target to $1b
IL&FS Investment Managers (IIML), the private equity arm of India’s Infrastructure Leasing & Financial Services (IL&FS), has raised the target of its infrastructure fund to $1 billion.
Partners Group raises $7b for direct PE deals
Partners Group has achieved a close of EUR6 billion ($7 billion) on its latest direct private equity fund. It is the firm's largest fundraise to date.
LP interview: Allstate Investments
Allstate Investments has gradually increased its exposure to private equity – and Asia specifically – over the last 12 years or so, but the current bullishness around the asset class is cause for concern
China project funds: Cut to fit
Project funds have become popular in China on the back of increased demand for PE exposure from corporates and high net worth individuals. It remains to be seen if they have true staying power
Carlyle targets $5b for Asia buyout fund
The Carlyle Group is looking to raise $5 billion for its fifth Asia buyout fund. The private equity firm closed its previous pan-regional vehicle at $3.9 billion in 2014 after more than two years of fundraising.
C-Bridge closes second China healthcare fund at $400m
C-Bridge, a Chinese private equity firm that concentrates on late-stage growth capital and buyout opportunities in the healthcare space, has closed its second fund at the hard cap of $400 million.
Angel investor launches in New Zealand
Richard Coon, a director and co-founder at private equity-backed New Zealand insurance provider Partners Life, has launched a new domestically facing venture group known as Angel Investors Marlborough (AIM).
Singapore's Spring Seeds to invest $73m in tech start-ups
Singapore-government backed Spring Seeds Capital has committed S$100 million ($73 million) to an investment program targeting domestic start-ups developing high-end technology.
Texas County & District backs IDG's latest China VC fund
Texas County & District Retirement System (TCDRS) has committed $30 million to IDG Capital’s latest China venture capital fund – the first to be raised since the GP acquired the global investment business of International Data Group (IDG).
HarbourVest raises $1.75b for co-investment fund
HarbourVest Partners has closed its fourth global co-investment fund at $1.75 billion, having raised the hard cap from $1.5 billion.
US investors wary of Asia spin-outs - AVCJ Forum
Keeping up with the pace of change in Asian private equity – particularly in terms of people moves – is one of the biggest challenges for institutional investors based outside of the region.
2Q analysis: All about Japan
Japan’s middle-market in fundraising flurry; Toshiba fails to make the second-quarter cut, but Asia buyouts still boom; public markets, particularly in Japan, deliver strong exits as trade sales stutter
IFC proposes $20m investment in Abraaj credit fund
The International Finance Corporation (IFC), the investment arm of the World Bank, is considering a commitment of up to $20 million in the Abraaj Group’s global credit fund.
Singapore university launches student venture fund
Singapore Management University (SMU) has partnered with Kairos ASEAN to launch a venture capital fund run by and for university students.