North America
DCM raises $880m for early-stage funds
DCM Ventures has raised $880 million across two funds that will continue its early-stage technology strategy, with 70% of the capital earmarked for deployment in China.
Japan's J-Star acquires Pepper Lunch
Japanese private equity firm J-Star has acquired regional restaurant chain Pepper Lunch for an undisclosed sum.
B Capital closes second fund at $820m
B Capital Group, a US-based VC with a presence in Singapore and a significant Asia portfolio, has closed its second global fund at $820 million.
Deal focus: Running the CFIUS gauntlet for Grindr
Grindr, America's most popular LGBTQ dating app, was only put up for sale because its Chinese owner violated foreign investment regulations. San Vicente's subsequent $560 million acquisition faced intense scrutiny
Chinese IPOs: One less option
Will Chinese companies listed in the US become the latest casualties of tensions between the two countries? It could lead to a narrowing in IPO exit options for PE and VC investors
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
US-Singapore food tech fund to target Asia
Big Idea Ventures, a US and Singapore-based food technology investor, has launched its debut fund with a target of $50 million. Asia is a core market.
Optum, Health Catalyst back Singapore's Holmusk
US investors Optum Ventures and Health Catalyst Capital have co-led a $21.5 million Series A round for Singapore-based healthcare technology developer Holmusk.
Cathay closes second mid-market fund at $860m
Cathay Capital has closed its second middle-market fund, which invests in China, Europe and North America, with EUR800 million ($860 million) in commitments. The original target was EUR1.2 billion.
Deal focus: RWDC's plastics replacement mission
RWDC Industries believes it has a biodegradable substitute for plastic that can be produced at scale. The Singapore and US-based company now has $133 million in VC funding to help make its case
Lightspeed completes $4b global fundraising effort
Lightspeed Venture Partners has raised $4 billion across early and growth-stage funds, including $1.5 billion for an opportunity fund that will support breakout companies in global markets such as China, India and Southeast Asia.
HighLight-backed Zentalis raises $165m in US IPO
Zentalis Pharmaceuticals, a US-based cancer drug developer, raised $165.2 million in its NASDAQ IPO, facilitating a liquidity event for Chinese healthcare investment specialist HighLight Capital.
Portfolio: Capital Square Partners and Aegis/StarTek
Capital Square Partners’ acquisition of Indian business processing outsourcing (BPO) player Aegis ultimately helped two different companies find global relevance after a turbulent and disruptive decade
China's Wanda exits Ironman to strategic, PE buyers
Wanda Sports Group, the sports, media and marketing subsidiary of Chinese real estate conglomerate Wanda Group, has sold the Ironman brand to two US-based investors for an enterprise valuation of $730 million.
TA Associates backs tech enablement start-up
Accion Labs, a US-headquartered start-up with Asian operations that helps companies implement emerging technologies, has received a strategic growth investment by TA Associates.
Australia’s Carnegie exits Assetic in PE-backed bolt-on
Australian VC investor MH Carnegie has exited asset management software specialist Assetic to Dude Solutions, a similar private equity-owned company in the US.
Alternative protein player Nature's Fynd gets $80m Series B
Nature’s Fynd, a US-based developer of edible proteins from non-animal and non-plant sources that is seen as having considerable application potential in Asia, has raised $80 million in Series B funding.
Colombia VC to bridge Southeast Asia, Latin America
Latin Leap, a Colombian VC investor and start-up services provider, has launched a boutique fund targeting $20 million to help Southeast Asian companies expand into Latin America.
Retail investment in PE: Common stock
Signs are converging that increased retail investor participation in private equity is inevitable. Myriad roadblocks around access, alignment, and infrastructure will inhibit the transition
Korea's Mirae leads $500m round for Impossible Foods
Korea’s Mirae Asset Global Investments has led a $500 million Series F round for Impossible Foods, a US-based food technology supplier pursuing an Asia expansion.
Deal focus: Lightspeed targets solid-state LiDAR
Having assessed some 40 autonomous driving companies globally, Lightspeed China Partners decided that Hesai - a business born in the US and raised in China - is best-placed to take the technology forwards
Japan's TDK invests air mobility developer
Japan’s TDK Corporation has made a VC commitment of undisclosed size in AutoFlightX, an electric air mobility company based in Germany with a significant China presence.
China-US tensions: Adapting to malaise
China would suffer the most immediate impact of a technology decoupling with the US, but both sides would be damaged in the long-term in the absence of remedial action
Everstone backs US, India-based generics developer
The Everstone Group has agreed to invest $50 million in Slayback Pharma, a developer of generic and specialty drugs with a presence in India and the US.
