Industry
Winreal hits $150m first close on China tech fund
Winreal Investment, a China-based venture capital firm established by a former chief engineer at domestic telecom equipment provider ZTE Corporation, has reached a first close of CNY 1.3bn (USD 150m) on its latest renminbi-denominated fund.
NZ Super, ACC exit Kiwibank via $1.3b NZ government buyout
New Zealand Superannuation Fund (NZ Super) and Accident Compensation Corporation (ACC) have exited state-owned Kiwibank at an implied valuation of NZD 2.1bn (USD 1.3bn).
Korea's KIC names Hoon Lee as CIO
Korea Investment Corporation (KIC) has appointed Hoon Lee, previously head of its investment strategy and innovation division, as CIO.
AVCJ Awards 2022 - nominations have closed
Nominations for the 2022 AVCJ Private Equity & Venture Capital Awards have now closed. Many thanks to all those who participated.
Taiwan's Cherubic closes $110m VC fund
Cherubic Ventures, which makes early-stage investments in Asia and the US, has closed its fifth fund with USD 110m in commitments. Total assets under management now exceed USD 400m.
Stride closes India venture debt fund on $200m
India’s Stride Ventures has closed its second venture debt fund with USD 200m in commitments. The target was INR 10bn (USD 125m).
Partners Group appoints Japan private equity head
Partners Group has initiated full-scale coverage of Japan’s private equity market with the recruitment of Tatsuya Ochi to lead local operations for the asset class.
Q&A: Brookfield Asset Management's Daniel Cheng
Brookfield Asset Management recently raised USD 15bn for a fund dedicated to global energy transition. Daniel Cheng, a managing director with the firm in Shanghai, maps out likely deployment
China investigates Sino IC Capital executives
Several executives at Sino IC Capital, which manages China's largest semiconductor-focused investment fund, are under investigation for suspected serious legal violations.
Sequoia launches China accelerator
Sequoia Capital China has launched an accelerator programme under the Yue brand, which will provide systematic training and resources for entrepreneurs at the angel and Series A stages.
CPPIB puts $236m into Asia co-investments in second quarter
Canada Pension Plan Investment Board (CPPIB) defied the recent slowdown in Asia private equity investment to deploy more than CAD 300m (USD 236m) across five deals alongside portfolio GPs between April and June.
US private debt player Waterfall launches in Hong Kong
Waterfall Asset Management, a US alternatives manager primarily active in the private debt space, has established an Asia presence with the opening of an office in Hong Kong.
Tech sector troubles hit Vision Fund performance
Valuation corrections across the technology sector globally continue to undermine the Vision Fund series, resulting in parent company SoftBank Group posting its second consecutive quarterly loss and founder Masayoshi Son professing shame at hyping up...
Hong Kong's Gly Capital closes debut mobility fund
Gly Capital Management, which is majorly owned by a Chinese automaker, tapped external investors for the first time in raising USD 163m for global investments in smart cities and smart cars
Fund focus: Insignia takes two months to scale up
Insignia Venture Partners received subscriptions to its third fund amounting to twice the size of the final corpus, underlining the appeal of Southeast Asia. The GP is keen to leverage China’s talent exodus
Carlyle CEO Kewsong Lee steps down
Kewsong Lee has resigned as CEO of The Carlyle Group just over two years since assuming the role on a solo basis, with co-founder Bill Conway taking over in an interim capacity.
New Zealand's GreenMount seeks $69m for co-investment fund
GreenMount Capital, an investment unit of New Zealand-based GreenMount Advisory, is looking to raise up to NZD 100m (USD 69.2m) for its debut private equity co-investment fund that will participate in deals in Australia and New Zealand.
Ex-EQT partner wins funding for Asia ESG services platform
Tak Wai Chung, who until early last year was a Singapore-based partner at EQT, has secured funding for a pan-Asian platform that will provide software solutions to corporates that need to meet environment, social, and governance (ESG) requirements.
Thailand's SCB 10X appoints Mukaya Panich as CEO
SCB 10X, the VC arm of Thailand’s Siam Commercial Bank, has appointed Mukaya Panich, its chief investment and venture officer, as CEO.
Bain targets $5b for fifth Asia fund
Bain Capital has launched its fifth Asia-focused private equity fund with a target of USD 5bn. It comes a couple of months after the firm closed its latest regional special situations vehicle on USD 2bn.
Singapore's Singtel pumps $100m into VC arm
Singapore telecom giant SingTel has committed USD 100m to its VC arm Innov8. The investment unit, which operates on an evergreen fund model, has received USD 350m to date.
Seed platforms: Fishing minnows from ocean liners
Accelerators and seed investors are increasingly pursuing global mandates and building out large, international teams. The challenges are starting to cast shadows over the benefits, but it’s early days
Insignia raises $516m for latest Southeast Asia vintage
Insignia Venture Partners has raised USD 516m for its third Southeast Asia fund, comprising USD 388m for a core venture vehicle, an accompanying entrepreneurs’ pool of USD 28m, and a USD 100m annex fund.
LPs worried by rising fund sizes in Southeast Asia - AVCJ Forum
LPs are encouraged by Southeast Asia’s fast-developing private equity ecosystem, but they are concerned that increases in fund sizes are outstripping that of the addressable market, the AVCJ Southeast Asia Forum heard.