GPs
AppWorks targets $360m for Fund IV, launches Web3 arm
Taiwan-based VC firm and accelerator AppWorks has established a dedicated Web3 arm and plans to launch its fourth flagship fund with a target of USD 360m in the second quarter of 2022.
China's Rockets Capital hits $200m first close on debut fund
Rockets Capital, a Chinese investment firm co-founded by Bing Yuan, formerly COO of Hony Capital, in conjunction with the senior leadership of local electric vehicle (EV) maker Xpeng, has reached a first close of USD 200m on its debut fund. The overall...
Baring Asia to merge with EQT
EQT has agreed a EUR 6.8bn (USD 7.5bn) acquisition of Baring Private Equity Asia (BPEA), having decided that organic expansion would unlikely deliver the Asia platform it desires to create a truly global business.
Profile: Foundation Private Equity's Jeremy Foo
Moving from direct investment to secondaries with Foundation Private Equity took Jeremy Foo outside his comfort zone, but past experiences of liquidity crunches have proved instructive
China's Cloudview reaches $316m first close on renminbi fund
Cloudview Capital, a Chinese GP that previously operated as a joint venture with ICBC International, has completed a first close on its second renminbi-denominated Fund with CNY 2bn (USD 316m) in commitments.
Singapore's Cake DeFi launches $100m corporate VC arm
Singapore-based decentralised finance platform Cake DeFi has earmarked USD 100m for a venture capital program that will target web3, gaming, and financial technology start-ups globally.
US regulations: Coming to Asia
Newly proposed rules for private equity fundraising and reporting in the US are set to be applicable to any manager in Asia that raises US capital. Investors should be alert but not alarmed
Asia to account for 37% of global HNWI PE commitments by 2025 - study
High net worth individual (HWNIs) contributions to private equity are growing faster in Asia Pacific than anywhere else, with the region set to account for 37% of global commitments by 2025, up from 26% in 2020, according to a study by Boston Consulting...
Accel raises $650m for seventh India fund
Accel Partners has raised USD 650m for its seventh India VC fund, which will also make early-stage investments in Southeast Asia. The firm’s total assets under management in the region now top USD 2bn.
Australia's BGH closes Fund II on $2.6b
BGH Capital has closed its second fund on approximately AUD 3.6bn (USD 2.6bn) after fewer than six months in the market. It represents the largest-ever private equity vehicle raised for deployment in Australia and New Zealand.
AVCJ Awards 2021: Fundraise of the Year – Large Cap: KKR
Working around travel restrictions and reaching into the high-net-worth segment were key themes as KKR raised USD 15bn for its fourth pan-Asia fund, the largest vehicle of its kind to date
Q&A: Sylvan Group's Gerald Leong
Gerald Leong, a 25-year veteran of Asian private equity, believes returns-focused impact investment is the future of the industry. His new firm, Singapore-based Sylvan Group, will attempt to prove it
India's IvyCap secures foreign LP backing for Fund III first close
India’s IvyCap Ventures is progressing on efforts to diversify its LP base, with 15% of the first close commitments in Fund III coming from international investors, while many of its domestic institutional backers re-upped.
PEP targets $742m for second Australia secure assets fund
Australia’s Pacific Equity Partners (PEP) is preparing to launch its second secured assets with an AUD 1bn (USD 724m) target while planning to spin out one of the top-performing Fund I investments into a single-asset continuation vehicle.
Infrastructure: Out of the comfort zone
Infrastructure managers in Australia are pushing into the PE space, competing with GPs for assets and buying businesses from them. It falls under the core-plus umbrella, but is the definition being stretched too far?
GP profile: Creador
Creador claims to be Southeast Asia’s only middle-market GP with on-the-ground capacities across the region. But in-house post-deal support and nimble deal sourcing are its key differentiators
Huaxing Growth hits $800m second close on China fund
Huaxing Growth Capital, the private equity division of China Renaissance, has achieved a USD 800m second close on its fourth flagship US dollar-denominated fund.
IFM's decarbonisation credentials attract Australian LPs
Australia’s Clean Energy Finance Corporation (CEFC) has committed AUD 80m (USD 57.5m) to IFM Investors’ mid-market growth fund, which achieved a second close of AUD 380m at the end of 2021.
Blue Owl recruits Pak-Seng Lai from UBS
Blue Owl Capital, a US alternatives manager expanding its Hong Kong operations, has hired Pak-Seng Lai, a managing director at UBS, to head its Asia Pacific private wealth business.
Singapore's Sylvan buys four local healthcare companies
Sylvan Group, a Singaporean private equity firm set up by Hyundai scion Kyungsun Chung, has acquired majority stakes in four local healthcare companies for USD 140.5m. These represent its first investments.
Australia impact GP hits $48m first close on debut fund
Australian impact investment firm For Purpose Investment Partners (FPIP) has reached a first close of AUD 67m (USD 48m) on its debut fund, which has an overall target of AUD 250m.
AVCJ Awards 2021: Firm of the Year – Large Cap: Baring Private Equity Asia
Baring Private Equity Asia claims that a thematic approach to origination and flexibility on deal structure allow it to pursue opportunities with greater conviction in a high-valuation environment
Altara raises $130m for Southeast Asia VC fund
Altara Ventures, a Singapore-based firm set up in 2020 by Boon Hwee Koh, former chairman of Singapore Airlines, Singapore Telecom, and DBS Bank, has closed its debut fund at USD 130m.
Monk's Hill names new partner in Indonesia
Singapore-based Monk’s Hill Ventures has appointed Jakarta native Susli Lie as a partner responsible for building the firm’s Indonesia business.