GPs
India's YourNest launches $45m early stage fund
Indian venture capital firm YourNest has launched its second fund for early-stage investments with a target size of INR3 billion ($45.1 million).
Jafco in $408m first close for new flagship fund
Japan’s Jafco has achieved a first close on its fifth global venture capital and buyout fund with JPY41 billion ($408 million) in commitments.
Fund focus: AirTree rides innovation wave
Australian GP AirTree Ventures raises its latest fund to invest in tech start-ups across growth ranges
Deal focus: Allegro gets GSR back on track
Turnaround specialist Allegro sees opportunity in luxury tourist transportation venture
Philippines consumers: Boom in a bottle
Tidal shifts in the Philippines' consumer demographics are piquing interest among private equity and venture capital investors alike, but sluggish policy modernization efforts remain a key barrier to entry
Pierfront commits $25 million to Indonesia mine operator
Singapore-based alternative credit investor Pierfront Capital has committed $25 million to Merdeka Copper Gold, an Indonesia-based operator of copper and gold mines backed by Saratoga Capital and Provident Capital.
TRG opens South Korea office
The Rohatyn Group (TRG), a global emerging markets asset management firm, has opened an office in South Korea.
Portfolio: L Capital Asia and Seafolly
Beachwear maker Seafolly was already a leader in Australia when L Capital Asia acquired it in 2014. Now the founding family and the GP plan to build it into a global lifestyle brand
Fund focus: Sinovation gets new firepower
Innovation Works changes its name, but plans to keep focusing on China's growing tech talent
Private debt: Pulling uphill
Selling Asian LPs on private credit strategies remains difficult for the most part, but fund managers are generally confident that interest in the asset class is set to take off
PE recruitment: The churn
Recent turnover spikes at pan-regional players could be a harbinger of future spin-outs
Multiples raises $690m for second India fund
Multiples Alternative Asset Management has reached a final close of $690 million on its second India-focused fund, beating the target of $650 million.
Careful targeting key to Philippines M&A – AVCJ Forum
Efforts to increase foreign M&A activity in the Philippines at later investment stages depend on targeting the right kinds of companies and understanding their needs, industry participants told the AVCJ Philippines Forum.
Singapore's JFDI abandons accelerator program
Singapore-based Joyful Frog Digital Incubator (JFDI) has closed its pioneering accelerator program as part of a corporate restructuring.
Australia VC: Interesting times
AirTree Ventures' successful fundraise underlines the growth interest in Australian venture capital, but the superannuation funds have yet to prove themselves to be a consistent source of capital
LPs want GPs to show comprehensive approach to ESG - AVCJ Forum
Private equity firms need to incorporate environmental, social and governance (ESG) considerations into their investment strategies – and do so in a long term, end-to-end manner, LPs told the AVCJ ESG Forum.
Fund focus: Kerogen plays the long game
In the early stages of deployment of its $830 million second fund, Kerogen Capital faces a very different energy sector to the previous cycle, characterized by lower costs, lower entry prices and reduced competition
Side letters: A little extra
The proliferation of side letter provisions submitted by LPs as conditional on their participation in a fundraise is adding to administrative workloads. Private equity firms must negotiate carefully
GPs target micro gains in weaker macro environment - AVCJ Forum
Institutional investors expect private equity funds to deliver outsize returns, regardless of the lower growth environment in Asia, which means GPs must focus more on making a difference to portfolio companies at the micro level.
Kerogen closes second energy fund at $830m
Kerogen Capital, a Hong Kong-headquartered GP specializing in international energy investments, has closed its second fund at $830 million.
Size matters: Korea's heavily contested buyouts
Korea has delivered some of Asia's biggest private equity buyout opportunities, but the scarcity of these deals means processes are highly competitive and assets are richly priced
Q&A: VIG Partners' Jason Shin
Jason Shin, managing partner at VIG Partners, explains why GPs are gravitating towards the consumer space in Korea, and why company founders are increasingly willing to do business with private equity
Korea exits: Seller central
Foreign buyers and restless chaebols could help deliver more exit opportunities for private equity firms in Korea – provided it is the right asset, at the right price, at the right time
KKR seeks up to $7b for third Asian fund
KKR will target between $6 billion and $7 billion for its third pan-regional fund, taking a relatively small step up from the previous vehicle, which closed at $6 billion in mid-2013.