Industry
IFC plans $273m Southeast Asia distress JV
The International Finance Corporation (IFC), the investment arm of the World Bank, has proposed a partnership with Philippines-based Altus Capital to invest up to $272.5 million in distressed assets in Southeast Asia.
Long Hill raises $252m for China VC fund, has yet to close
Long Hill Capital, a Chinese venture capital firm that spun out from New Enterprise Associates (NEA) in 2016, has raised $252.2 million for its second VC fund.
China's Ganesh launches $250m India VC fund
Ganesh Ventures, a Chinese investor focused on India, has reached a first close of $30 million for a VC fund targeting $250 million.
Unicorn raises $250m for second China fund-of-funds
China-focused venture capital fund-of-funds Unicorn Capital Partners has closed its second fund at the hard cap of $250 million.
Denham closes global mining fund at $558m
Denham Capital, a resources and energy-focused GP, has closed its first global mining fund at $558 million. The vehicle is intended to grow the firm's portfolio in Australia, Canada, South America and Africa.
Indian government commits $29m to four GPs
The Indian government has committed INR2 billion ($29 million) to four domestic investment funds as part of its support for the entrepreneurial sector.
Lightspeed closes second India fund at $175m
Lightspeed Venture Partners has closed its second India-focused fund at $175 million for investments in early-stage consumer and enterprise technology start-ups.
VC and supercomputing: Access denied
VCs continue to shun the field of supercomputing despite new commercial upside related to the rise of artificial intelligence. Asia, however, could offer a relatively competitive launchpad for start-ups in the segment
Creador set for $430m first close on Southeast Asia, India fund
Creador has scheduled a first close of $430 million on its fourth Southeast Asia and India-focused fund and set the hard cap at $550 million.
Malaysia's Sunway launches $50m VC fund
Sunway, a Malaysian conglomerate with operations in real estate and construction, has launched a venture capital fund with a view to raising $50 million.
Pantheon opens Tokyo office to service Japanese LPs
Pantheon has opened an office in Tokyo, having won separate account mandates from the likes of Japan’s Government Pension Investment Fund (GPIF).
India raises cap on local PE fund exposure to offshore companies
The Securities and Exchange Board of India (SEBI) has raised the limit on capital that can be invested by local private equity and venture capital funds in overseas companies from $500 million to $750 million.
C-Bridge hits $400m first close on China healthcare fund
C-Bridge Capital has reached a first close of just over $400 million on its third healthcare fund, which focuses on Chinese pharmaceutical, medical technology and healthcare services companies with proven products and technologies.
Value Partners launches China education PE fund
Hong Kong asset manager Value Partners has launched its first PE program in mainland China with a locally focused education sector fund in partnership with university and technical college operator China Education Group.
Outsourced CIO: Secret sauce
Teams spinning out from US endowments are competing in an increasingly competitive market for outsourced investment mandates from institutions. Scale and differentiation are the key selling points
Everbright forms China-focused JV with HQ
HQ Capital has joined Yuanju Capital, an affiliate of China Everbright’s asset management arm Everbright Financial Holding, to launch a wealth management platform aimed at the Chinese market.
Telstra Ventures, HarbourVest partner for tech fund
Telstra Ventures, the corporate VC arm of Australian telecom giant Telstra, has teamed up with Hong Kong’s HarbourVest Partners to create a fund focused on technology companies across Asia Pacific and the US.
ICG appoints Southeast Asia PE, mezzanine head
Intermediate Capital Group (ICG) has appointed Escamillo Lin, formerly of CDH Investments, as managing director and head of Southeast Asia for private equity and mezzanine.
China-US trade: Balance of power
A long-smoldering trade dispute between the US and China has begun to reverberate globally across a range of sectors. Private equity must not ignore the potential impacts
Q&A: Eaton Partners' Chris Lerner
Chris Lerner, a partner and head of Asia at placement agent Eaton Partners, discusses why LPs are allocating more capital to private equity in the region and who are the biggest beneficiaries
Hideyuki Inokuma to retire from Advantage Partners
Hideyuki Inokuma, who as chief administrative officer at Advantage Partners is responsible for investor relations as well as middle and back-office functions, is to retire from the Japan-based firm.
NZ Super buys 27% stake in domestic food player
New Zealand Superannuation (NZ Super) has invested an undisclosed sum to take a 27% holding in New Zealand Gourmet, a company that farms and markets a range of fresh produce.
AVCJ daily bulletin returns July 3
AVCJ's daily bulletin will not be published on Monday, July 2 due to a public holiday marking the establishment of Hong Kong Special Administrative Region.
Malaysia's Affin Hwang launches private equity unit
Malaysia-based Affin Hwang Asset Management has launched a private equity arm under the name Bintang Capital Partners.