Apax Partners has sold its remaining 48% interest in GlobalLogic, an IT outsourcing company founded by several Indian entrepreneurs, to Partners Group. The deal values the business at more than $2 billion.
California Public Employees’ Retirement System (CalPERS), the largest public pension fund in the US, plans to deploy up to $13 billion a year in direct private equity deals through two newly formed funds.
Canada Pension Plan Investment Board (CPPIB) continues to ramp up its exposure to Asian private equity, with called and uncalled commitments rising 27% to C$17.1 billion ($13.3 billion) for the 12 months ended March 2018.
Next 10 Ventures, a US and Singapore-based GP headed by former YouTube and Warner Bros executives, has raised $50 million for a fund focused on user-generated media content businesses.
KPCB has led a $20 million Series B funding round for BorderX Lab, a US-based e-commerce services company that helps global retailers connect with Chinese consumers.
Start-ups looking to go public must have solid plans for long-term growth and clear targets by which their progress can be measured, according to Adena Friedman, president and CEO of NASDAQ.
Aslan Pharmaceutical, a Singapore-based drug developer that focuses on cancer treatments, has raised $42.2 million in its US IPO. The VC-backed company listed on the Taiwan Stock Exchange last June.
Qiming Venture Partners and Ruijan Capital have contributed RMB80 million ($12.6 million) to a Series B round for Wuxi Vision Pro, a Chinese ophthalmic medical device maker with operations in the US.
GGV Capital has raised RMB1.5 billion ($236 million) for its debut renminbi-denominated fund. The successful close takes the Sino-US venture capital firm’s total assets under management past $4 billion.
Sequoia Capital India and Saama Capital will exit their 10-year investment in ScioInspire Holdings, a healthcare analytics platform with operations in the US, UK and India, through a merger with US-listed industry peer EXL.
HQ Capital has closed an Asia-focused secondaries fund at the hard cap of $250 million as part of an oversubscribed global fundraising drive that has received $674 million in third-party commitments.
Lilly Asia Ventures (LAV) has led a $25 million round for Avedro, a US-based ophthalmic pharmaceutical and medical devices company with a view to expanding in Asia.
STX Entertainment, a film and TV studio that claims to bridge the US and Chinese markets, has filed for an IPO in Hong Kong. The company’s investors include Hony Capital and TPG Capital’s growth arm.
Pennsylvania State Employees’ Retirement System (PennSERS) has agreed to commit up to $75 million to Hahn & Company’s third Korea-focused fund.
SIG China has led a $13.5 million Series B funding round for Castbox, a US and China-based podcasting platform with content in multiple languages.
Canada Pension Plan Investment Board (CPPIB) has promoted Suyi Kim to the role of senior managing director and head of Asia Pacific, along with additional changes in the firm’s Asian leadership.
Sequoia Capital China and Serica Partners have co-led an $11 million Series A round for US-based molecular diagnostics start-up NuProbe.
Shenzhen Capital has joined a $30 million Series C round for US-based 3D printing company Formlabs that will support an expansion effort in China and Asia.
A number of Asian VCs including MDI Ventures, a unit of Telkom Indonesia, have joined a $12 million Series A round for Element, a biometrics technology developer based in New York, Jakarta, and Singapore.
Panasonic has committed $100 million as the sole LP in a fund managed by US-based Conductive Ventures that will focus on helping technology start-ups access Japanese markets.
Singapore’s Temasek Holdings and China’s Sailing Capital have led a $114 million round for Impossible Foods, a US-based vegetarian food technology company currently expanding into Asia.
Chinese VCs Green Pine Capital Partners and Prosperico Ventures have led a $60 million Series A investment in US and China-based cancer diagnosis specialist Singlera Genomics.
The International Finance Corporation (IFC) has committed $25 million to a fund that it will co-manage with US-based Victory Park Capital. The fund will improve access to debt capital for financial technology companies in emerging markets, including Asia.
Hitachi has agreed to invest an undisclosed sum in a Japan-US cross-border venture capital fund managed by Geodesic Capital that will focus on social problem solving through technology.