Industry
India's Pi Ventures closes second fund with $85m
India’s Pi Ventures, an artificial intelligence (AI) and deep tech specialist, has closed its second fund with INR 7bn (USD 85m) in commitments.
Japan's Miyako targets $140m for third VC fund
Japan’s Miyako Capital, an independent VC firm affiliated with Kyoto University, has launched its third deep tech fund with a target of JPY 20bn (USD 140.2m).
AVCJ Awards 2023 - nominations have closed
Nominations for the 2023 AVCJ Private Equity & Venture Capital Awards have now closed. Thanks to all who participated. Voting will open in about two weeks.
Australia's Future Fund appoints new CIO
Australia’s Future Fund has promoted Ben Samild to CIO, filling a vacancy created more than a year ago with the departure of Sue Brake.
MBK launches sixth North Asia fund, targets $7b
North Asia-focused buyout firm MBK Partners has set a target of USD 7bn for its sixth flagship fund, according to three sources familiar with the situation.
Australia's Five V opens New Zealand office
Australia’s Five V Capital, which is active across growth, buyouts, and venture, has launched a New Zealand office and confirmed three hires for the country team.
Affinity managing partner to retire
Chul-joo Lee is retiring from Affinity Equity Partners at the end of August. He will become the second managing partner to leave the pan-regional buyout firm in the past 12 months.
5Y seeks $700m for latest China VC fund
China-focused 5Y Capital has set a target of USD 700m for its latest venture capital fund – in line with what the manager raised in the previous vintage.
CVC hires India partner from Apollo
CVC Capital Partners has recruited Nikhil Gahrotra, an India-based partner at Apollo Global Management, to its private equity team.
Korea’s UCK Partners surpasses $770m on Fund III
UCK Partners, a South Korean private equity firm formerly known as Unison Capital Korea, has accumulated approximately KRW 1trn (USD 777m) across two incremental closes on its third fund.
Deal focus: Change at the margins for Proterra Asia
Proterra Asia has been investing in food and agriculture across the region for 13 years. This will continue, regardless of tweaks in management entity ownership and fund structure
Profile: Mekong Capital’s Chad Ovel
An outdoorsman with a passion for mountaineering and a background in sustainable forestry, Chad Ovel found a good fit in Mekong Capital’s strategy targeting the frontier of Vietnam’s consumer markets
Q&A: The Longreach Group’s Mark Chiba
Mark Chiba, group chairman of North Asia-focused The Longreach Group, on deal flow in Japan’s middle market, pursuing platform acquisitions, the rise of digitalisation, and the complexities of take-privates
PEP raises continuation fund for New Zealand's Up Education
Australia's Pacific Equity Partners (PEP) has raised a single-asset continuation fund of approximately AUD 400m (USD 268m) for Up Education, a vocational education business it has held since 2015.
India's Together seeks $150m for second VC fund
India’s Together Fund, an early-stage VC firm focused on artificial intelligence (AI) and software-as-a-service (SaaS), has reached a first close of undisclosed size on its second fund. The target is $150m.
Singapore's GIC emphasises infrastructure, sustainability
Singapore’s GIC is leaning towards infrastructure and sustainability-related assets as part of efforts to ensure portfolio resilience in the face of continued disruption driven by inflation, chronic geopolitical risk, and rising interest rates.
Goodwater raises $1b across two funds
Goodwater Capital, a US-based VC firm with a presence in Korea and significant Asia exposure, has raised USD 1bn across two funds. It brings assets under management to USD 3.3bn.
Australia's Main Sequence hits $305m first close on Fund III
Australian deep tech VC firm Main Sequence has reached a AUD 450m (USD 305m) first close on its third fund, bringing overall funds under management to about AUD 1bn.
Fund focus: Eurazeo’s climate thesis resonates with LPs
Eurazeo shattered the target for its second smart city fund thanks to an agenda that dovetails with LP interest in decarbonisation. Nine Asian LPs backed the fund and 35% of the corpus will be deployed in the region
Asia deal financing: A selective market
Regional buyout activity is weak but leveraged loans are available for the right kind of target – in Japan, Korea, Australia, and beyond – and with a suitably customised structure
Q&A: SparkEdge Capital’s Linc Liu
Linc Liu, founding partner and chairman of SparkEdge Capital, a sector specialist formerly known as Ori-mind Capital, discusses new energy investment opportunities in China
Mirae Asset PE arm seeks $200m for Fund II
Maps Capital, a private equity investment arm of Mirae Asset Financial Group, has launched its second US dollar-denominated fund with a target of USD 200m.
Japanese power producer Jera launches $300m VC unit
Japanese power producer and utility Jera has launched a USD 300m venture capital programme aimed at sustainability-themed technology start-ups and related funds.
Eurazeo draws on Asian support for $448m smart city fund
France-based GP Eurazeo won support from several Asian institutional investors for its latest smart city fund, which has closed on EUR 400m (USD 445m). The vehicle is also expected to deploy significantly in the region.