Industry
Deal focus: Huaxing gives overseas LPs taste of China medtech
In addition to raising $213 million for its latest renminbi-denominated fund, Huaxing Healthcare Capital sourced $230 million from co-investors for a succession deal in China’s orthopedics space
Future Fund names new CIO, hires PE executive from Navis
Australia’s Future Fund has appointed Sue Brake as its new CIO and brought in Kelvin Mak, formerly of Navis Capital Partners, as a director in the private equity team.
VC unit of Japan's KLab spins out, rebrands as Anobaka
KVP, the VC unit of Japanese mobile games company KLab, has spun out as an independent entity under the name Anobaka.
Ex-Capital Dynamics executive gets Japan fund-of-funds mandate
Kazushige Kobayashi, formerly of Capital Dynamics, has won a fund-of-funds mandate from the Tokyo government to be managed by a dedicated team set up under Asian alternatives group MCP Asset Management.
Japan's MedVenture closes second fund at $95m
MedVenture Partners, a Japanese VC firm focused on medical devices, has closed its second fund with JPY9.9 billion ($95 million) in commitments.
LP interview: Rockefeller University
Rockefeller University has aggressively expanded its endowment program by ramping up its appetite for risk. Asian venture capital is playing a key role in this agenda
Australia's NextGen launches AI fund
NextGen Funds Management, a newly established GP in Australia, has launched what it is calling the country’s first dedicated artificial intelligence (AI) fund.
Asian fund-of-funds: Local linchpins
The Asian fund-of-funds community has shrunk considerably over the last 10 years as a result of M&A, withdrawals and repositioning. How do the survivors, from Axiom Asia and Asia Alternatives down, deliver value to LPs?
AIIB backs ADM's renewable energy debt fund
Asian Infrastructure Investment Bank (AIIB) has committed $100 million to an Asia-focused debt fund dedicated to renewable energy managed by Hong Kong’s ADM Capital.
Axiom closes latest Asia fund-of-funds at $1.8b
Axiom Asia has closed its sixth pan-regional fund-of-funds at the hard cap of $1.8 billion, claiming that the economic fallout from COVID-19 has created more investment opportunities.
Profile: Aavishkaar's Vineet Rai
Vineet Rai’s career in impact investing started before the concept really existed. Spurred – but also slightly troubled – by mainstream awareness, he has big plans for India-based Aavishkaar Group
BRI reaches first close on Indonesia fund
BRI Ventures, a unit of Bank Rakyat Indonesia has reached the first close of IDR150 billion ($11 million) on its locally incorporated tech venture fund.
MDI, Finch launch $40m ASEAN fund
MDI Ventures, the corporate VC arm of state-controlled Telkom Indonesia, has teamed up with financial technology investor Finch Capital to form a $40 million fund targeting early-stage investments in Southeast Asia.
Hong Kong reaffirms carried interest pledge
Hong Kong Chief Executive Carrie Lam has reaffirmed the territory’s commitment to providing certainty on the tax treatment of carried interest as part of efforts to consolidate its position as a private equity hub.
Fund focus: Equis' infrastructure overhaul
Swapping a traditional fund for a less familiar corporate vehicle represented a gamble for Equis, but the Asian infrastructure manager was confident its approach would make sense to a subset of investors
Taiwan & tech tensions: Silicon island
Taiwan’s technology sector must play an awkward balancing game amid US-China tensions. This could be a surprisingly favorable position for opportunistic investment and global diversifications
CDH hits first close on China data center fund
CDH Investments has reached the first close of RMB1.5 billion ($228 million) on a data center industry fund. Part of the Chinese GP's mezzanine strategy, the vehicle has a full target of RMB2 billion.
500 Startups launches Cambodia division
500 Startups has launched a Cambodian unit in partnership with Khmer Enterprise, a start-up ecosystem support arm of the local government’s Entrepreneurship Development Fund.
Aggression pays off in times of crisis - AVCJ Forum
Going on the offensive is the best response to COVID-19 - taking advantage of market uncertainty to make new investments and help portfolio companies complete bolt-on acquisitions - the AVCJ Forum heard.
COVID-19 credit strategies must be flexible – AVCJ Forum
COVID-19 has emphasized the need for patience and mandate flexibility in private credit, industry participants told the AVCJ Forum.
Warburg Pincus, Advantage honored at AVCJ Awards
Warburg Pincus and Advantage Partners triumphed in the firm of the year categories at the 2020 AVCJ Private Equity & Venture Capital Awards, with The Carlyle Group and Affinity Equity Partners also among the winners with two trophies apiece.
Large LPs willing to explore riskier growth options – AVCJ Forum
Institutional investors looking to diversify their growth portfolios are increasingly turning to technology and emerging managers, the AVCJ Forum heard.
Asia buyout managers see no shift in return targets - AVCJ Forum
Asia-focused buyout managers do not expect an economic downturn to impact the returns underwritten into investments at the portfolio level as long as leveraged financing remains competitively priced and new paths to liquidity continue to emerge.
Global LPs want more control in China – AVCJ Forum
North American and European LPs see promise in Asia, and China in particular, but remain wary due to a lack of control opportunities, especially in the context of COVID-19.