North America
FTX: Crypto dismisses another deathblow
An emerging technology giant has imploded. Regulations are set to tighten. Investors hit pause but remain confident about the long-term outlook. Business as usual in crypto
Fund focus: Panacea defies biotech downturn
Having raised its second fund amid weakening investor sentiment for biotech, Panacea Venture expects deployment to be guided by a widening valuation gap between the US and China
ACE Equity-backed SPAC acquires US electronics player
ACE Convergence Acquisition Corp, a special purpose acquisition company (SPAC) sponsored by Korean PE firm ACE Equity Partners, has completed a merger with US-based electronics manufacturer Tempo Automation. The equity valuation of the business was cut...
Apollo’s Rowan tips alternatives allocations to top 50% - AVCJ Forum
Marc Rowan, CEO of Apollo Global Management, told the AVCJ Private Equity & Venture Forum that he expects most investors to have an alternatives allocation of at least 50% within five years.
Panacea closes second healthcare fund on $276m
Panacea Venture, a healthcare-focused investment firm established by James Huang, formerly a partner at KPCB China, has closed its second fund with approximately USD 276m in commitments.
TPG's Coulter calls for patience, perspective amid 'great reset' - AVCJ Forum
James Coulter, executive chairman and founding partner of TPG, told the AVCJ Private Equity & Venture Forum that the current “great reset” represents one of the most interesting periods in his career, although he advised investors to look beyond immediate...
Q&A: Northwestern University’s Tianhao Wu
Tianhao Wu, a managing director in the investment team at Northwestern University’s endowment, on adding new GP relationships, addressing China risk, and pursuing geographic diversification in Asia
Q&A: CPPIB’s Suyi Kim
Suyi Kim, global head of private equity at Canada Pension Plan Investment Board, on investing amid uncertainty, finding alignment with partners of all types, and the evolution of direct investment
Sport investment: Into the value chain
Investors are increasingly drawn to the structural nuances, sticky customer bases, and long tail of ancillary opportunities that exist around professional sports. Asia’s role is small but growing
Taking PE in-house: Less limited partners
Institutional investors continue to pursue more active roles in private equity, even as a souring macro backdrop makes the game harder to play. Talent is always the key variable
US logistics AI start-up gets $100m for Asia entry
US-based Altana Technologies, an artificial intelligence (AI) and analytics provider for the logistics industry, has raised USD 100m in Series B funding with plans to open a Singapore office in early 2023.
GP selection: Discriminating customers
Sizeable LPs are hardening their criteria for fund commitments in reaction to a tougher investing environment. But going with fewer, deeper relationships is an uphill climb
Deal focus: GPs pile into US-India tech corridor
US and India-based Accion Labs continues to collect private equity backers as it further globalises its IT services offering. Incoming investors don’t want to shake up the winning formula
Brookfield commits $500m to carbon recycling specialist LanzaTech
Brookfield Renewable, a business controlled by Brookfield Asset Management, has agreed to invest USD 500m in LanzaTech, a US carbon recycling specialist with a significant Asia presence.
China's Neushen Therapeutics gets $20m pre-Series A
China’s Neushen Therapeutics, a biotech developer focused on central nervous system (CNS) disorders, has raised USD 20m in pre-Series A funding led by local VC firm Lapam Capital.
India's True North buys stake in TA-backed Accion Labs
Indian middle market private equity firm True North has acquired a significant minority position in US and India-based IT provider Accion Labs from TA Associates for USD 93m.
China semiconductor: Casualties of war
Private equity investment in China’s semiconductor industry continues unabated despite intensifying US regulatory action. While start-ups are not explicitly targeted, many are feeling the heat
Bessemer closes latest global VC fund on $3.85b
US-based Bessemer Venture Partners, which is currently expanding a longstanding presence in India, has closed its latest global VC fund with USD 3.85m in commitments.
Q&A: Unitus Ventures’ Surya Mantha
Indian returns-focused impact investor Unitus Ventures is sharpening its thesis around jobs as it celebrates its 10-year anniversary. Surya Mantha, a managing partner at the firm, traces the evolution
Fund focus: Cherubic continues to scale
Early-stage investor Cherubic Ventures initially struggled to get traction with its idiosyncratic Greater China-US strategy, but the firm sees its USD 110m haul for Fund V as validation of the thesis
Prosperity7 backs China-founded unstructured data specialist Zilliz
Prosperity7 Ventures, a venture capital fund established by Saudi Arabia state oil giant Saudi Aramco, has led a USD 60m Series B extension for China-founded open-source software developer Zilliz.
CPPIB puts $236m into Asia co-investments in second quarter
Canada Pension Plan Investment Board (CPPIB) defied the recent slowdown in Asia private equity investment to deploy more than CAD 300m (USD 236m) across five deals alongside portfolio GPs between April and June.
US private debt player Waterfall launches in Hong Kong
Waterfall Asset Management, a US alternatives manager primarily active in the private debt space, has established an Asia presence with the opening of an office in Hong Kong.
India’s CleverTap raises $105m Series D
India and US-based customer engagement platform CleverTap has raised a USD 105m Series D round led by Caisse de depot et placement du Quebec (CDPQ).
