North America
Japan's WiL raises USD 1bn
US-Japan cross-border investor World Innovation Lab (WiL) has raised USD 1bn across its third flagship fund and several other vehicles.
Silicon Valley-based Scale Asia Ventures raises $30m fund
Scale Asia Ventures (SAV), a Silicon Valley-based investor that aims to bridge the US and Asia start-up ecosystems, has raised USD 30m for its latest early-stage fund.
Hong Kong's Saltagen targets $120m for biotech fund
Saltagen Ventures, a Hong Kong-based venture capital firm led by Canada’s trade representative to the Asia Pacific Economic Cooperation (APEC) forum, is looking to raise USD 120m for a global biotech fund.
Advent raises $25bn for global PE fund, targets China
Advent International has closed its largest ever global private equity fund at the hard cap of USD 25bn with plans to expand its investment activity in Greater China in the next few years.
SPAC target Prenetics sinks on US debut
Hong Kong-based genomic and diagnostic testing business Prenetics slumped on its NASDAQ debut, unable to withstand struggling public markets public markets and weak investor appetite for businesses that merge with US-listed special purpose acquisition...
China outbound: Organic options
Tough domestic competition is encouraging Chinese tech start-ups to expand overseas – often organically, earlier in their lifecycles than before, and despite regulatory concerns
Mithril, BlackRock invest $110m in Singapore’s GreyOrange
Mithril Capital, a VC firm launched by PayPal co-founder Peter Thiel, and BlackRock have provided USD 110m in growth funding to Singapore and US-based robotics player GreyOrange.
Tiga SPAC to merge with San Vicente-owned Grindr
Grindr, a LGBTQ+ dating app acquired by an investor group after its Chinese owner violated foreign investment regulations, has agreed to merge with a special purpose acquisition company (SPAC) sponsored by Singapore-based Tiga Investments.
Square Peg backs US, Malaysia-based LottieFiles
Square Peg Capital has led a USD 37m Series B round for US and Malaysia-based motion graphics platform LottieFiles.
General Atlantic leads $300m Series D for Biofourmis
Biofourmis, a Singapore founded and now US-based operator of a health analytics platform, has achieved unicorn status with the closing of a USD 300m Series D round led by General Atlantic.
Profile: WestSummit Capital’s Raymond Yang
Raymond Yang’s rich entrepreneurial experience in China and the US led to the formation of WestSummit Capital. He continues to draw on this knowledge as technology ecosystems evolve
Fund focus: ASEAN finds new inroads to global tech
SeaX Ventures is ramping up its “corporate venture capital-as-a-service” with a significantly upsized second fund and sharpened strategy around deep tech demand in Southeast Asia
Permanent capital: A bridge too far?
GPs are increasingly looking for ways to hold assets beyond the traditional fund timeline, but perpetual and long-dated capital largely remain the preserve of global firms and smaller specialists
GP profile: DCM
Investing in China, Japan, and the US out of a single global fund, DCM sticks to a formula of small funds, concentrated portfolios, early-stage deals, and collaborative cross-border teams
PE-backed TuSimple ponders Asia asset spinout
TuSimple, a private equity-backed developer of autonomous driving technology for trucks that listed in the US less than 12 months ago, is considering a spinout of its Asia Pacific operations.
US regulations: Coming to Asia
Newly proposed rules for private equity fundraising and reporting in the US are set to be applicable to any manager in Asia that raises US capital. Investors should be alert but not alarmed
Ex-OTPP Asia head named CalPERS CIO
Nicole Musicco, a former Asia Pacific head of Ontario Teachers’ Pension Plan (OTPP), has been appointed CIO of California Public Employees’ Retirement System (CalPERS).
India's Uniphore raises $400m Series E
New Enterprise Associates (NEA) has led a USD 400m Series E round for Uniphore, an India and US-based artificial intelligence (AI) technology developer focused on speech recognition.
India virtual events platform gets $35m Series B
Airmeet, a US-headquartered and Asia-focused virtual events platform with extensive operations in India, has raised USD 35m in Series B funding featuring Sequoia Capital India.
India's Kedaara creates digital services platform
India’s Kedaara Capital is forming an outsourced digital services platform through the merger of Gavs Technologies and Great Software Laboratory (GS Lab), having acquired majority interests in the two companies over the past three months.
Nestle buys into DCP-backed plant-based protein provider
Orgain, a US plant-based nutrition business backed by China’s DCP Capital Partners, has agreed to sell a majority stake to Nestle. The size of the transaction was not disclosed.
Singapore's Fireblocks closes Series E, hits $8b valuation
Fireblocks, a US and Singapore-based blockchain services provider that aims to “help every business become a crypto business,” has raised a USD 550m Series E round at a valuation of USD 8bn.
China IPOs: Offshore angst
Private equity exit timelines were thrown into disarray last year when US IPOs abruptly stopped. Regulators have offered some clarity, but investors are unsure when – or if – the magic will return
PE consortium cuts 51job take-private offer by 28%
A private equity consortium pursuing a take-private of US-listed Chinese online recruitment platform 51job has cut its offer price by 28%, citing deteriorating market conditions, regulatory tightening in China, and the continuing impact of COVID-19.
