Fundraising
LPs play the long game on Indonesia - AVCJ Forum
Institutional investors are keen to increase their exposure to Indonesia but the relative immaturity of the local market continues to be a deterrent, LPs told the AVCJ Indonesia Forum.
Singapore government launches $716m PE fund
The Singapore government and domestic GP Makara Capital have launched a S$1 billion ($716 million) private equity fund that will focus on intellectual property (IP)-driven companies.
SeedPlus Singapore closes debut fund at $18m
SeedPlus Singapore, a Southeast Asia-focused seed fund run by Jungle Ventures, has closed its debut fund at S$25 million ($18 million).
China's Yi Capital closes $116m VC fund
Yi Capital, a Beijing-based VC firm founded by two former partners at CDH Investments, has closed its debut renminbi-denominated fund at RMB800 million ($116 million).
Source Code closes third China VC fund at $260m
Source Code Capital, a Chinese VC firm founded by Yi Cao (pictured), a former partner at Sequoia Capital, has closed its third US dollar-denominated technology fund at $260 million.
Neuberger Berman launches onshore China unit
Neuberger Berman has established an onshore investment management business in China that is expected to enable the firm to distribute private fund products to local clients.
ClearVue raises $362m for China consumer fund
ClearVue Partners has closed its second China consumer-focused fund at $362 million, having received commitments from institutional LPs including several global fast-moving consumer goods companies.
Integral closes third Japan mid-market fund at $670m
Integral Group has closed its third Japan mid-market buyout fund at the hard cap of JPY73 billion ($670 million), with domestic LPs accounting for approximately three quarters of the corpus.
Haiyin Capital, NCET2 form Sino-US VC fund
China's Haiyin Capital and the US-based National Council of Entrepreneurial Tech Transfer (NCET2) have jointly launched a VC fund to provide capital to start-ups formed at American universities.
Ex-KPCB China executive Wei Zhou launches new VC firm
Wei Zhou (pictured), formerly a managing partner at KPCB China, has launched a new VC firm – China Creation Ventures – and closed his debut renminbi-denominated fund at RMB1.5 billion ($220 million).
Korea to create $7b restructuring fund
South Korea has announced plans for a KRW8 trillion ($7 billion) fund – of which half will come from private sector feeder vehicles – as part of government efforts to initiate a more market-based approach to corporate restructuring.
Indonesia's GP landscape: Slim pickings
While the number of GPs active in Indonesian venture capital has mushroomed in recent years, there has been no change on the private equity side. The market suffers from talent and perception issues
1Q analysis: Whale watching
KKR’s first close dominates fundraising activity, but mid-market showing still impresses; Japan leads the way as Asia exits remain reasonably strong; investment slows, if China state-backed deals are ignored
Tianjin government launches $14.5b guidance fund
The Tianjin government is looking to raise RMB100 billion ($14.5 billion) for a renminbi-denominated fund intended to stimulate private investment in pillar industries such as high-end manufacturing, information technology and aerospace.
Japan's GPIF makes call for alternatives managers
Japan’s Government Pension Investment Fund (GPIF) has made its first call for applications from alternatives managers, with a view to backing fund-of-funds across private equity, infrastructure and real estate.
India, UK launch $620m green infra PE fund
The governments of India and the UK have launched a private equity fund with a target of GBP500 million ($620 million) to invest in sustainable infrastructure projects in India.
IFC set to re-up as LeapFrog seeks $800m for Fund III
The International Finance Corporation (IFC), the investment arm of the World Bank, has proposed an investment of up to $25 million in LeapFrog Investments’ emerging markets-focused third fund, which is targeting as much as $800 million.
Dragon Capital sets up microfinance business in Myanmar
Vietnam-based private equity firm Dragon Capital has made its first investment in Myanmar, teaming up with a local strategic partner to seed a Yangon-based microfinance services business.
Banyan raises $725m across US dollar, renminbi funds
Banyan Capital has raised more than RMB5 billion ($725) million across two China-focused venture capital funds – one US dollar-denominated and the other in renminbi.
Japan's Tokio Marine closes Fund V at $466m
Tokio Marine Capital has reached a final close of JPY51.7 billion ($466 million) on its fifth Japan mid-market fund on the back of strong support from domestic LPs, notably regional banks.
Asia fundraising: Retail channels
Private equity firms keen to diversify their LP bases are looking to establish relations with Asia’s high net worth segment, and the private banks and wealth managers who facilitate access to this community
KKR secures $5.8b first close on third Asian fund
KKR has reached a first close of just under $5.8 billion on its third pan-Asian fund. The vehicle has an institutional hard cap of $8.5 billion, with a further $700 million in commitments from the firm’s balance sheet and management team.
China distress investor DCL launches debut US dollar fund
DCL Investments, a China-focused distressed debt and special situations manager set up by former executives at CDH Investments and Shoreline Capital, is targeting around $300 million for its first US dollar-denominated fund.
Morningside closes debut renminbi VC fund at $143m
Morningside Venture Capital, a China-focused early-stage VC firm that used to manage only US dollar-denominated funds, has closed its first renminbi vehicle at RMB1 billion ($143 million).