Industry
TPG, SoftBank Ventures Korea team up for $300m China fund
TPG Capital and SoftBank Ventures Korea are launching a $300 million China fund that will invest in start-ups focusing on technology, media, and the internet.
China signals easing of listing rules for tech companies
China has issued guidelines for domestic listings by pre-profit technology start-ups as well as companies with weighted voting rights (WVR) structures that allow founders to retain control despite dilution of their shareholdings.
Asia leveraged finance: Institutional aspirations
PE firms can obtain financing for leveraged buyouts in Asia on increasingly favorable terms, but this doesn’t necessarily point to institutionalization – or at least, not yet. For now, banks still lead the way
Asia fundraising: The $10b club
Hillhouse Capital has broken the record for Asia private equity fundraising by collecting $10.6 billion for its most recent vehicle. But how will the firm put all this money to work?
India's Pi Ventures closes early-stage fund at $31m
Pi Ventures, an Indian early-stage investor focused on artificial intelligence (AI) and machine learning, has closed its debut fund at INR2.25 billion ($30.9 million).
China's Maison secures $200m for US dollar fund
Chinese growth capital private equity firm Maison Capital has closed its first US dollar-denominated fund at $200 million.
AVCJ daily bulletin returns September 26
There will be no AVCJ bulletin on September 25 due to a public holiday in Hong Kong marking the Mid-Autumn Festival.
Australia's AVCAL appoints local LP as new chair
The Australian Private Equity & Venture Capital Association (AVCAL) – which will be known as the Australian Investment Council from next year – has appointed its first chairperson from the local institutional investor community.
Investcorp makes China debut, backs Everbright fund
Investcorp, a Bahrain-listed asset manager, has made its first foray into China by committing $150 million to China Everbright’s New Economy Fund. There is an additional co-investment right of up to $100 million.
Indian NPAs: Solvency strikes
With a series of highly publicized bankruptcy proceedings, government efforts to rein in India’s non-performing assets may finally be paying off. Investors expect a wave of turnaround opportunities
Hillhouse completes $10.6b fundraise
Hillhouse Capital has closed its latest fund – which will make healthcare, consumer, technology, and services investments globally, but with a focus on Asia – with commitments of $10.6 billion.
Q&A: Emerald Media's Paul Aiello
KKR-backed Emerald Media was formed to invest in Asia’s media landscape, but it has found a growing number of opportunities in technology. Managing Director Paul Aiello discusses how the sectors have grown together
Renminbi fundraising: Winter has come
A two-year renminbi fundraising boom in China has ended abruptly due to a combination of controversy, regulatory intervention, and dwindling investor sentiment. But the market may benefit in the long term
Hong Kong's Social Impact Partners closes second fund
Social Impact Partners (SIP), a Hong Kong-based venture philanthropy organization supported by several private equity firms, has closed its second fund with $2 million in commitments.
OPIC commits $150m to Quadria healthcare fund
The Overseas Private Investment Corporation (OPIC), a development finance arm of the US government, has committed $150 million to Quadria Capital II, the latest fund of healthcare-focused PE firm Quadria Capital.
Golden Gate closes SE Asia VC fund at $100m
Golden Gate Ventures has closed its third Southeast Asia-focused fund at $100 million. Like its predecessors, the oversubscribed fund will invest in start-ups using technology to disrupt traditional business models in the consumer sector.
AIC wins domestic PE mandate from Chikyoren
Japan’s Pension Fund Association for Local Government Officials (Chikyoren) has awarded a domestic private equity mandate to Alternative Investment Capital (AIC).
Profile: AlphaX Partners' Chuan Thor
Over the course of more than two decades – with Jafco, Highland Capital Partners, and now AlphaX Partners – Chuan Thor has participated in China’s transition from tech follower to tech leader
India's Lightbox Ventures seeks $200m for Fund III
Lightbox Ventures has raised $178 million for its third India-focused VC fund, which is targeting a final close of $200 million by the end of the year.
Secondary staples: Structural dynamics
GP-led restructurings are going mainstream, including complex transactions that combine primary and secondary commitments. As deal demand grows, so do concerns about risk
Franklin Templeton, Asia Alternatives to launch fund-of-funds
Franklin Templeton Investment and Asia Alternatives have agreed to form a joint venture that will provide bespoke global private equity fund-of-funds solutions.
GLP, GIC to establish $2b China logistics fund
GLP, a private equity-owned warehouse operator based in Singapore, has teamed up with GIC Private to establish a $2 billion logistics fund focused on China.
CITIC Capital hits $1.3b first close on new China fund
CITIC Capital has reached a first close of $1.3 billion on its latest US dollar-denominated China fund, which has an overall target of $2 billion.
Korean LPs prepare for a downturn - AVCJ Forum
Korean institutional investors are reviewing their alternatives allocations – and focusing new commitments on more liquid strategies such as credit – in anticipation of a correction in global markets.