Asia could prove to be a deal-rich market in 2021, but buyout investors are still figuring out the long-term implications of COVID-19 for companies that cater to changing consumer demands
CICC Capital has reached a second close of RMB4.2 billion ($650 million) on its latest healthcare fund - the first in China to receive fast-track approval for its role in addressing COVID-19.
Hong Kong healthcare-focused VC firm ORI Capital has reached a first close of $112 million on its second fund and exited its largest investment, UK biotech developer Kymab, as part of a $1.1 billion deal.
Cathay Capital has raised EUR650 million ($789 million) for its second innovation fund, which supports start-ups in China, Europe, and North America.
WorkTrans, a Chinese human resources services provider, has raised $190 million through two tranches, a Series C of $50 million and a Series D of $140 million.
Keep, a Chinese mobile app that provides fitness training programs, has raised $360 million in Series F funding led by SoftBank Vision Fund.
Firstred Capital, a Chinese growth and buyout investor in healthcare, consumer products and services, and industrial technology, has closed its debut fund with RMB6.8 billion ($1 billion) in commitments.
China’s Visen Pharmaceuticals, a drug developer targeting glandular conditions such as dwarfism and growth deficiency has raised a $150 million Series B round led by Sequoia Capital China.
Hive Box, a China-based self-service package drop-off and pick-up operator, has received $400 million in funding from Trustbridge Partners, Asia Forge, Sequoia Capital China, Redview Capital, and All-Stars Investment. The pre-money valuation is $3 billion.
Perfect Corp, a Chinese developer of online beauty apps, has raised a $50 million Series C round led by Goldman Sachs.
Horizon Robotics, a Chinese developer of microprocessors that support artificial intelligence (AI) technologies, has raised $400 million in the second tranche of a Series C round led by Baillie Gifford, Yunfeng Capital, CPE, and electric vehicle battery...
The Carlyle Group - investing through its Asia growth fund - has led a $123 million Series D round for Chinese cancer-focused biotech developer Abbisko Therapeutics.
Primavera Capital Group has joined the trickle of Asia-based private equity investors launching special purpose acquisition companies (SPACs) in the US, targeting a $300 million capital raise for consumer deals.
DataCloak, a Shenzhen-based start-up that helps companies install data security systems on devices used by employees, has raised a $28 million Series B round led by Hillhouse Capital.
Chinese B2B fabrics trading platform Baibu has raised $110 million in an extended Series D round led by Hidden Hill Capital, the private equity platform of logistics giant GLP China.
The Hong Kong government has moved to placate private equity industry fears regarding the tax treatment of carried interest by proposing a 0% levy.
Goldman Sachs and Anchor Equity Partners have led a $100 million Series B round for Sunsea Parking, a China-based car parking management company.
Enflame Technology, a Chinese artificial intelligence (AI) chip designer, has raised a RMB1.8 billion ($279 million) Series C round led by CPE, China Capital Investment Group, and Primavera Capital.
Relx Technology, a Chinese e-cigarette producer backed by Source Code Capital and Sequoia Capital China, has filed for an IPO in the US.
Xueba100.com, a China-based one-to-one online tuition platform, has halted operations and is looking for industry peers to assume responsibility for its students and teachers.
Flexiv, a China and US-based industrial robotics start-up specializing in machines that can adapt to unpredictable environments, has raised a $100 million Series B round featuring Gaorong Capital.
Naixuecha, a China-based bubble tea chain that also goes by the name Nayuki, has raised a Series C funding round led by PAG.
What industry participants had to say on China IPOs, conducting due diligence on GPs, waiting for distress opportunities, working from home, co-underwriting deals, and sensible recruitment policies
A selection of the key fundraising, investment and exit events - presented in chronological order - from the past 12 months