North America
India's Rezolve.ai secures $11m Series A
SIG Venture Capital has led a USD 11m Series A round for Rezolve.ai, a US and India-based start-up that applies conversational artificial intelligence (AI) to human resources services.
AI: Asia awakens to ChatGPT
ChatGPT has sent shockwaves through the technology sector globally. Asia is no exception as investors look for ways to leverage the platform and China contemplates a standard of its own
India, US-based Usher closes $50m Series C
Third Point Ventures has led a USD 50m Series C round for India and US-based enterprise artificial intelligence (AI) and automation technology provider Ushur.
Carlyle names Harvey Schwartz as CEO
The Carlyle Group has appointed Harvey M. Schwartz, formerly president and co-COO of Goldman Sachs, as its new CEO.
China's Structure Therapeutics soars on US debut
Structure Therapeutics, a China and US-based drug developer specialising in novel oral therapeutics, performed strongly on its trading debut following an upsized USD 161.1m NASDAQ IPO.
B Capital raises $2.1bn for latest global VC funds
US and Singapore-headquartered VC firm B Capital has closed its third series of funds with USD 2.1bn in commitments. The mandate is global with a strong emphasis on Asia.
Avatar Growth leads Series C for India's Mad Street Den
Avatar Growth Capital, a private equity firm specialising in bringing Indian tech to global markets, has led a USD 30m Series C round for US and India-based retail services player Mad Street Den.
Everstone, Goldman buy IT consulting player Cprime
India and Southeast Asia-focused private equity firm Everstone Capital has teamed up with Goldman Sachs Asset Management to acquire US-headquartered IT consulting business Cprime. The size of the transaction was not disclosed.
ChrysCapital acquires US-India IT player Xoriant for $350m
India’s ChrysCapital Partners has acquired Xoriant, a US-headquartered but primarily India-based software engineering and IT provider, for about USD 350m.
US regulator gets access to Chinese audits
The threat of delisting that has haunted Chinese companies that trade on US exchanges appears to have receded after the US regulators announced they had gained full access to the audits of these companies for the first time.
Square Peg, Wellington back Australia's Rokt at $2.4b valuation
Square Peg Capital and Wellington Management have led a AUD 750m (USD 501m) investment in Australian e-commerce marketing technology provider Rokt at a valuation of USD 2.4bn.
Thoma Bravo raises $32b for deployment in software
Thoma Bravo, a specialist investor in software companies, has closed its latest set of buyout funds with more than USD 32.4bn in commitments. This compares to USD 22.8bn in the previous vintage.
Fund focus: Southeast Asia piques Silicon Valley interest
Singapore’s Iterative is dazzling its entrepreneurial friends in the US with tales of seed-stage success in Southeast Asia and channelling that interest into a sophomore fund
Chinese investors sell international assets of condom maker LifeStyles
A Chinese investor group featuring several private equity firms has sold the non-China assets of LifeStyles Healthcare, a global sexual health and wellness platform best known for the Lifestyles condom brand, to US-based Linden Capital Partners.
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