Australasia
GPs & climate change risk: Material matters
Climate change risk is becoming a broader debate within private equity, taking in the long-term impact of floods, droughts, and fires on portfolios. Most GPs have yet to turn thought into action
Fund focus: Tidal makes early-stage wave
With $21 million in dry powder, Tidal Ventures wants to bring institutional rigor to Australia's seed stage, helping prepare start-ups for Series A rounds
Australia's OneVentures closes credit fund at $57m
OneVentures has reached a final close of A$80 million ($57 million) on a venture debt fund said to be the first and largest vehicle of its kind in Australia.
OMERS acquires 20% stake in Australia's TransGrid
Canada’s Ontario Municipal Employees Retirement System (OMERS) has bought a 20% stake in Australian electricity network operator TransGrid for an undisclosed sum.
Blackbird joins $18m round for Australia's Propeller
Blackbird Ventures has joined a A$26 million ($18.3 million) round for Propeller Aero, an Australian data analytics provider focused on drone surveying at industrial worksites.
Australia: Retail realities
Not all bankruptcies can be blamed solely on COVID-19; neither is private equity ownership necessarily bad news for retailers. As recent experiences in Australia demonstrate, evolution and execution are key
2Q analysis: Numbers that deceive
Asia has seen remarkable revivals in private equity investment and fundraising – though not in exits – over the past three months. A handful of large-cap situations mask a weak environment
KKR backs Australia environment services player
KKR has made an investment of undisclosed size in GreenCollar, an environmental services provider that helped establish Australia’s carbon credit market.
Large-cap vehicles support PE fundraising revival in second quarter
Asia private equity fundraising rebounded from a seven-year low in the first quarter of the year to reach $24 billion for April through June, but commitments were concentrated on a handful of managers.
Deal focus: Cortina goes natural for debut Australia deal
Cross-border PE investor Cortina Capital has backed Australian nutritional supplements producer ATP Science with an eye to China expansion. But establishing brand recognition at home is the first step
EQT revises offer for New Zealand’s Metlifecare
EQT has submitted a revised offer to acquire New Zealand retirement village player Metlifecare at a lower valuation after facing a legal challenge over its attempt to terminate a previously agreed deal.
Deal focus: Soil Carbon’s nascent climate fix
Australian start-up Soil Carbon is developing microbial technology that can be used to limit carbon emissions from crops. Horizons Ventures has provided financial support for the project
Medical devices: Proceed with caution
Medical devices has become a difficult place to invest but potentially all the more rewarding for those willing to take the plunge. Asia is in a prime position globally
PE-owned Australian swimwear brand enters administration
Seafolly, an Australian swimwear and beachwear brand owned by L Catterton Asia, has entered administration, citing the “crippling financial impact” of the COVID-19 pandemic.
Australia cleantech start-up secures $7m
Horizons Ventures – a VC firm controlled by Hong Kong billionaire Li Ka-shing – has joined a A$10 million ($7 million) round for an Australian start-up specializing in fungi-based carbon capture technology.
Bain to buy Virgin Australia
Bain Capital has entered into an agreement to acquire and recapitalize beleaguered airline Virgin Australia Holdings (VAH).
Australia's Canva raises $60m at $6b valuation
Canva, an Australian graphic design platform, has raised $60 million in VC funding, almost doubling its valuation to $6 billion. It attributed the growth to a shift online amid COVID-19.
Five V buys New Zealand software developer
Australian private equity firm Five V Capital has acquired a controlling stake in New Zealand employee management software provider Totara for an undisclosed sum.
Mercury buys Bauer Media’s Australia, New Zealand assets
Sydney-based private equity firm Mercury Capital has agreed to acquire the Australia and New Zealand assets of Germany’s Bauer Media, including an extensive magazine portfolio.
Australia’s Square Peg raises $240m for third VC fund
Australian VC firm Square Peg Capital has received initial commitments of A$350 million ($240 million) for its third fund from investors including Hostplus and AustralianSuper.
Foreign investment restrictions: Looking inward
China is the implied threat as governments look to protect vulnerable domestic companies from foreign corporate raiders. On balance, PE investors are unlikely to benefit from moves towards de-globalization
BGH buys health centers from Australia's Healius for $341m
BGH Capital has agreed to acquire the primary care business of Australia’s Healius – comprising medical centers, GP practices, and dental clinics – for an enterprise valuation of A$500 million ($341 million).
Portfolio: Anacacia Capital and Duncan Solutions
Following its investment in Duncan Solutions in 2018, Anacacia Capital is helping the parking management systems provider tap into demand arising from Australia’s smart city movement
Coronavirus & due diligence: Split screen
Finding the right balance between offline and online communication for completing due diligence processes is a tricky endeavor for PE and VC investment professionals in Asia