Australasia
Australia's Loam Bio raises $73m Series B
Loam Bio, an Australia-based agricultural technology start-up that uses microbes to sequester carbon in farm soils, has received AUD 105m (USD 73m) in Series B funding.
Deal focus: Adamantem extends Retail Zoo’s PE story
Adamantem Capital bought Retail Zoo from Bain Capital with a view to continuing the rollout in Australia and overseas while potentially picking up more food and beverage brands
Value in adversity: Australia’s operational challenge
With Australia poised for a rarely-seen period of economic difficulty, the operational capabilities developed by domestic private equity firms will be put to the test
Australia's Fortitude adds two partners
Australia-based Fortitude Investment Partners, formerly the growth capital investment business of listed alternatives manager Blue Sky, has promoted Bryan Brown and Sam O’Connor to partner.
AVCJ Awards 2022: Exit of the Year – Mid Cap: Probe CX
Five V Capital identified an opportunity in Australia-based outsourced business services and brought in Quadrant Private Equity to help scale the concept. A USD 792m exit to KKR was their reward
Potentia gains due diligence access to Australia's Nitro
Potentia Capital has been invited to perform due diligence on buyout target Nitro Software after trumping a rival bid for the listed Australian company, ending months of board resistance to its overtures.
New Zealand hydrogen player raises $14m
New Zealand hydrogen and zero-emission technologies developer Fabrum has raised a NZD 23m (USD 14.5m) Series A round led by UK-based AP Ventures.
Deal focus: Serving the sole trader
Accounting software provider Hnry has built up a following among freelancers and self-employed tradespeople in New Zealand and Australia. A USD 25m Series B will help it look further afield
Adamantem buys Australia's Retail Zoo from Bain
Adamantem Capital has acquired a majority stake in Retail Zoo, operator of Australia-headquartered food retail brands Boost Juice and Betty’s Burgers, from Bain Capital for an undisclosed sum.
AVCJ Awards 2022: Deal of the Year – Large Cap: Crown Resorts
Crown Resorts represented a daunting target, given its size and pandemic and regulatory-related challenges. The Blackstone Group drew on its global know-how to make the USD 8.1bn deal work
Alvarez & Marsal expands PE coverage in Australia
Alvarez & Marsal (A&M) has appointed Timo Schmid as a managing director and head of its newly established private equity performance improvement practice in Australia and New Zealand.
Australia's Future Fund posts loss in 2022
Australia’s Future Fund posted a 3.7% loss for the 2022 calendar year amid rising inflation and volatility in public markets – with Peter Costello, the fund’s chairman, warning of further challenges to come.
University of Melbourne VC fund hits $70m first close
The University of Melbourne has hit a first close on a VC fund that will invest in university-related entrepreneurs and researchers with AUD 100m (USD 70m) in commitments.
US investor secures control option for Melbourne football club
Shareholders in Australian football club Melbourne Victory have approved a proposal that allows US-based investor 777 Partners to take a majority stake.
Airtree leads $25m round for New Zealand's Hnry
Australia’s Airtree Ventures has led a NZD 35m (USD 25mm) Series B round for New Zealand small business financial technology provider Hnry.
Australia's Potentia contests Nitro merger plan
Potentia Capital has appealed a decision by Australia’s Takeovers Panel not to intervene in a situation that has seen Nitro Software repeatedly rebuff acquisition proposals made by the private equity firm.
4Q analysis: Who wants China?
Pan-regional GPs get traction by highlighting their Asia ex-China credentials; buyouts rebound as growth capital – and China – continue to recede; India impresses with bumper exit proceeds
Labour shortages: Tales from north and south
Australia and Japan are facing extreme labour shortages. In the former, GPs can survive on policy support and emergency manoeuvres. In the latter, fundamental strategy shifts are a more immediate imperative
Deal focus: Anchorage gets Aussie icon for a song
Anchorage Capital Partners has acquired David Jones, a longstanding and beloved Australian department store chain, for one-fourth the cost of recent renovation work at a single location
ICG invests in Korea's Big Mama Seafood
Intermediate Capital Group (ICG) has announced a second deal in three weeks from its fourth Asia fund – which closed last year on USD 1.1bn – with a commitment of undisclosed size to Korea-based Big Mama Seafood.
Australia's PEP ups target for latest secure assets fund
Pacific Equity Partners (PEP) has increased the target for its second Australia and New Zealand-focused secure assets fund to AUD 1.4bn (USD 949m), while pursuing a deal that would round off Fund I and fall into Fund II.
Australia's Potentia backs telecoms technology player
Australia’s Potentia Capital has paid AUD 66.3m (USD 44.9m) for a 25% stake in Soprano Design, a local mobile messaging technology provider that counts Telstra and AT&T as its carrier partners.
Quadrant buys Australian healthcare equipment supplier
Quadrant Private Equity has bought a majority interest in Aidacare, an Australia-based distributor of healthcare equipment, with a view to supporting domestic and international growth.
Asian basketball league secures Series C funding
East Asia Super League (EASL), a basketball league featuring teams from Greater China, Japan, South Korea, and the Philippines, has raised USD 40m as part of a yet-to-close Series C funding round.