Australasia
Affinity seeks exit from Virgin Australia frequent flyer business
Affinity Equity Partners has begun a process to exit its 35% interest in the frequent flyer business of Virgin Australia.
Culture is key to a sustainable spin-out - AVCJ Forum
Making a private equity spin-out work is as much about cultivating a transparent culture within the team as identifying an underserved market segment, industry participants told the AVCJ USA Forum.
SSG pursues recapitalization of Australia’s Retail Food Group
Australia’s Retail Food Group (RFG) has received a A$160 million ($111 million) recapitalization proposal from Asia-focused special situations investor SSG Capital Partners.
OneVentures, AirTree in $15m round for Australia HR platform
Australia’s OneVentures and AirTree Ventures have joined online jobs marketplace Seek in a A$22 million ($15.3 million) Series C round for local human resources platform Employment Hero.
New Zealand opens $200m VC scheme to private managers
New Zealand has opened a NZ$300 million ($199 million) government-backed venture capital scheme to applications from domestic and international private fund managers.
Quadrant set for debut deal from Australia growth fund
Australia’s Quadrant Private Equity has made the first investment from its new growth fund, with an agreement to acquire domestic auction sites Graysonline and AreYouSelling for A$60 million ($42 million).
Next to buy Australia hospitality equipment business
Australia’s Next Capital has agreed to privatize local hospitality industry equipment provider Silver Chef in a deal worth at least A$27 million ($19 million).
Australia's CEFC to invest $70m in clean energy fund
Clean Energy Finance Corporation (CEFC), a renewables-focused investor backed by the Australian government, has agreed to commit up to A$100 million ($70 million) to a new fund.
Australia’s Archer targets $208m for sixth fund
Australian GP Archer Capital has revived its plans to raise a sixth fund and set a target of A$300 million ($208 million), more than a year after halting the process amid the planned departure of Peter Wiggs, the firm’s founding partner and CEO.
Australia's Square Peg confirms $237m close for Fund II
Australia’s Square Peg has secured two new superannuation fund backers for its second fund, which has closed at A$340 million ($237 million).
CITIC Capital invests $20m in New Zealand travel business
CITIC Capital has invested NZ$30 million ($20 million) in Tourism Holdings, a New Zealand-listed travel services company that specializes in recreational vehicle rentals.
Quintet invests in Australian radiology business
Australian alternative asset manager Quintet Partners has invested an undisclosed amount in Exact Radiology, a private equity-backed operator of a chain of diagnostic imaging clinics in Queensland.
Allegro backs Australia's Questas
Australian private equity firm Allegro Funds has confirmed its investment in local mining, construction and agricultural support services provider Questas Group.
Australia's Leap Capital raises $34m venture debt fund
Australian investment firm Leap Capital has raised A$50 million ($34 million) for a venture debt fund that will target established, revenue-generating companies locally.
Australia’s NAB Ventures exits Wave Financial in $400m deal
NAB Ventures, a unit of National Australia Bank (NAB), is set for its debut exit via a deal that will see US tax services giant H&R Block acquire Canada’s Wave Financial for about $400 million.
Australia's PEP surpasses $1.4b in Fund VI first close
Pacific Equity Partners (PEP) has reached a first close of just over A$2 billion ($1.4 billion) on its sixth Australia and New Zealand-focused buyout fund, with the hard cap set at A$2.5 billion.
EQT terminates $2.6b Vocus acquisition
EQT infrastructure has abandoned a bid it extended less than two weeks ago to acquire Australian broadband internet provider Vocus Group for about A$3.3 billion ($2.3 billion).
Australian wi-fi chipmaker Morse Micro secures $17m
A group of Australian VCs including Blackbird Ventures has invested about A$24 million ($17 million) in local wi-fi and internet-of-things (IoT) chipmaker Morse Micro.
KKR hands advisory role to former Australian prime minister
Malcolm Turnbull, whose three-year tenure as prime minister of Australia ended in August of last year, has joined KKR as a global senior advisor.
EQT Infrastructure offers $2.6b for Australia's Vocus
EQT Infrastructure has offered to acquire all the shares in Australia-listed broadband internet provider Vocus Group in a deal that values the company at about A$3.3 billion ($2.3 billion).
Adamantem makes $69m bid for Australia's Legend Corp
The board of Australian electrical products manufacturer Legend Corporation has endorsed a takeover bid from Adamantem Capital at an enterprise valuation of A$100.6 million ($69.7 million).
Australia’s Canva raises $70m at $2.5b valuation
Australian graphic design start-up Canva has raised $70 million from investors including US-based General Catalyst and Bond Capital, the new vehicle of Silicon Valley veteran Mary Meeker. It values Canva at $2.5 billion.
EMR launches third fund with $1.3b target
Australian resources-focused private equity firm EMR Capital has launched its third fund with a target of $1.3 billion.
New Zealand agtech player gets $6.7m
BioLumic, a New Zealand-based start-up that develops ultraviolet (UV) crop yield enhancement systems, has raised a $6.7 million Series A led by US agricultural technology VC firm Finistere Ventures.
