Industry
Monolith sets $250m hard cap for China fund
Monolith Management, an investment firm established by Xi Cao, formerly a partner at Sequoia Capital China, has set the hard cap at USD 250m for its debut China venture capital fund.
Carlyle names Harvey Schwartz as CEO
The Carlyle Group has appointed Harvey M. Schwartz, formerly president and co-COO of Goldman Sachs, as its new CEO.
Alvarez & Marsal expands PE coverage in Australia
Alvarez & Marsal (A&M) has appointed Timo Schmid as a managing director and head of its newly established private equity performance improvement practice in Australia and New Zealand.
China plans rollout of registration-based IPOs to all exchanges
China has proposed expanding the registration-based IPO system, which is intended to offer listing candidates lighter-touch regulation and a smoother path to the bourse, to all domestic stock markets.
Australia's Future Fund posts loss in 2022
Australia’s Future Fund posted a 3.7% loss for the 2022 calendar year amid rising inflation and volatility in public markets – with Peter Costello, the fund’s chairman, warning of further challenges to come.
University of Melbourne VC fund hits $70m first close
The University of Melbourne has hit a first close on a VC fund that will invest in university-related entrepreneurs and researchers with AUD 100m (USD 70m) in commitments.
AVCJ Awards 2022 special issue available for download
A special issue of AVCJ profiling the winners of the 2022 AVCJ Private Equity & Venture Capital Awards is now available for download.
AVCJ Awards 2022: Firm of the Year – Large Cap: Baring Private Equity Asia
Baring Private Equity Asia’s 2022 was punctuated by a high-profile merger with EQT, a bumper fundraise, and USD 10bn in exits. Jean Eric Salata, now head of BPEA EQT, shares his thoughts on the market
Southeast Asia's Openspace seeks $650m for latest vintage
Southeast Asia-focused Openspace Ventures is targeting USD 300m for its fourth venture capital fund and USD 350m for its second growth vehicle.
Japan's Global Brain, Meiji Yasuda launch $39m VC fund
Japan’s Global Brain has further extended a string of corporate VC partnerships, teaming up with Meiji Yasuda Life Insurance to launch a JPY 5bn (USD 39m) fund.
Mitsubishi UFJ launches $100m Indonesia fund
MUFG Innovation Partners, a VC arm of Mitsubishi UFJ Financial Group, has launched its third fund alongside Bank Danamon Indonesia with a corpus of USD 100m. The fund will focus on Indonesia.
StepStone adds three partners in Asia
Randy Wang, a private equity specialist who works out of Beijing, is one of three Asia-based investment professionals that StepStone Group has promoted to partner.
Q&A: Bertelsmann India Investments' Pankaj Makkar
Pankaj Makkar has headed Bertelsmann India Investments since its inception in 2012. He reflects on a period of rapid market development with a new war chest that betrays confidence in more to come
Orchestra to launch debut Korea, Japan blind pool fund
Orchestra Private Equity, a Korea and Japan-focused manager that has to date operated on a deal-by-deal basis, plans to launch its first blind pool fund later this year.
Australia's Potentia contests Nitro merger plan
Potentia Capital has appealed a decision by Australia’s Takeovers Panel not to intervene in a situation that has seen Nitro Software repeatedly rebuff acquisition proposals made by the private equity firm.
ResponsAbility hits $173m first close on Asia food fund
Swiss impact investor ResponsAbility has reached a first close of USD 173m for a South and Southeast Asia-focused sustainable food private equity fund. The target is USD 400m.
China's Riverhead Capital closes $295m renminbi fund
China-based Riverhead Capital, the private equity arm of Sunshine Insurance Group, has closed a renminbi-denominated fund with CNY 2bn (USD 295m) in commitments.
AVCJ daily bulletin returns January 26
AVCJ's daily bulletin will take a short break for the Lunar New Year holiday. Publication will resume on January 26.
B Capital raises $2.1bn for latest global VC funds
US and Singapore-headquartered VC firm B Capital has closed its third series of funds with USD 2.1bn in commitments. The mandate is global with a strong emphasis on Asia.
India's 360 One buys Mumbai Angels, launches two funds
Bain Capital-backed 360 One, which rebranded from IIFL Wealth & Asset Management last November, has acquired a 91% stake in Mumbai Angels as the seed investor launches two new funds.
Deal focus: Secondary investors support Capital Square, Basil merger
Capital Square Partners and Basil Technology Partners have joined forces, with HarbourVest Partners, NewQuest Capital Partners, and Committed Advisors backing a USD 700m fund comprising Asia IT services investments from both GPs
China's Yunqi seeks $300m for fourth VC fund
Yunqi Partners, which makes early-stage investments in China’s enterprise software and services space, is targeting USD 300m for its fourth US dollar-denominated fund.
Asia PE investment declines 40% in 2022
Asia private equity investment reached USD 223.9bn in 2023, a sharp decline from the USD 376.4bn recorded a year earlier, but still the second-largest annual total on record, according to provisional data from AVCJ Research.
Bain & Co appoints new Asia PE practice co-head
Bain & Company has named Sebastien Lamy, who has been with the firm for over 20 years and most recently focused on Asia infrastructure investment, as co-head of its regional private equity practice.