North Asia
Blackstone set for exit from New Zealand's Partners Life
The Blackstone Group will exit its majority stake in New Zealand-based insurer Partners Life following the announcement of a full acquisition of the company by Japan’s Dai-ichi Life Holdings at a valuation of approximately NZD 1bn (USD 645m).
Korean carmakers take control of local autonomous driving player
Korean automakers Hyundai Motor and Kia have paid a combined KRW 427.7bn (USD 328.8m) for control of 42dot, a local autonomous driving software developer in which they and several VC investors already held minority stakes.
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.
Bain targets $102m Japan advertising take-private
Bain Capital has won board approval from Net Marketing, a Tokyo-listed online advertising and media management business, for a take-private that values the company at approximately JPY 13.6bn (USD 102m).
Endeavour United exits Pizza Hut Japan
Endeavour United, a Japanese private equity firm established by the team behind turnaround investor Phoenix Capital, has ended its five-year tenure as owner of Pizza Hut Japan with a sale to Yamae Group Holdings
Tech sector troubles hit Vision Fund performance
Valuation corrections across the technology sector globally continue to undermine the Vision Fund series, resulting in parent company SoftBank Group posting its second consecutive quarterly loss and founder Masayoshi Son professing shame at hyping up...
J-Star invests in Japanese courier business
Japanese lower middle-market private equity firm J-Star has made an investment of undisclosed size in air cargo transportation and courier services provider Score Japan Holdings.
Japan satellite data, metaverse start-up raises $11m
Japanese VCs have provided a JPY 1.4bn (USD 11m) seed round for SpaceData, a start-up that uses earth imaging data from satellites to create virtual 3D environments replicating the real world.
Affirma supports Korea's NPX in Terapin Studios deal
Affirma Capital has confirmed a USD 38m investment in Terapin Studios, a US-based media platform controlled by Korea’s NPX Capital focused on bringing Korean digital comics to global markets.
Deal focus: Hahn & Co takes GP-led secondaries to new high
Hahn & Company has closed a USD 1.5bn single-asset continuation fund for Korea's Ssangyong C&E, giving it more time to complete the company's transition from cement maker to broader environmental services player
Japan's Anri hits $102m first close on latest VC fund
Japanese early-stage VC firm Anri has reached a first close of JPY 14bn (USD 102m) on its fifth flagship fund. The target is JPY 40bn.
Japanese autonomous driving player Tier IV raises $300m
Japanese autonomous driving technology developer Tier IV has raised a USD 87m Series B round from strategic investors and received a USD 183m government grant.
Korea's Viva Republica raises USD 225m
Viva Republica, operator of the Korean money transfer app Toss, has raised KRW 296bn (USD 225.5m) in series G funding from an investor group that includes Altos Ventures, Goodwater Capital, Greyhound Capital, and Kleiner Perkins.
Korea's NPX confirms $160m media platform acquisition
Korea’s NPX Capital has acquired online comics publisher Toomics via its Terapin Studios media platform for USD 160m.
Deal focus: SJL fills Korea's cross-regional gap
Steve Lim launched SJL Partners to help Korean corporates pursue M&A in the US and Europe, having seen global GPs pass on such opportunities. Meridian Bioscience is the latest addition to the portfolio
Asia logistics: Cost and complexity
Investment opportunities are expected to emerge as companies look to technology as a means of easing inflationary pressure on supply chains. Will Asia’s shallow pool of specialist logistics GPs deepen?
Japan's MPower backs construction workers' platform
Japanese environmental, social, and governance (ESG) focused private equity firm MPower has led a JPY 1.8bn (USD 13.4m) investment in Sukedachi, a jobs platform for construction workers.
Global Brain leads $14.5m round for Japan's SmartBank
Japan’s Global Brain has led a JPY 2bn (USD 14.5m) Series A round for SmartBank, a local start-up that provides prepaid Visa cards and accompanying expense management apps.
Japan's Sumitomo Mitsui commits $1.5bn to Apollo
Japan’s Sumitomo Mitsui Trust Holdings has signed up to an alternatives co-investment program run by Apollo Global Management, taking the total capital raised from Asia-based LPs to more than USD 5bn.
Korean GP backs $1.5b buyout of US-listed Meridian Bioscience
SJL Partners, a Korea-based private equity firm that specialises in cross-border transactions, has teamed up with domestic in vitro diagnostics business SD Biosensor to acquire US-listed peer Meridian Bioscience for USD 1.53bn.
Korea's Kakao considers partial divestment of mobility spin-out
South Korean internet giant Kakao has indicated it may sell around 10% of Kakao Mobility, its transportation division, which has several private equity backers.
PAG launches Asia renewables platform
PAG plans to commit more than USD 1bn to renewables over the next several years with the launch of a platform dedicated to the development, construction, and operation of projects in Asia.
Baring Asia exits Cath Kidston to UK turnaround investor
Baring Private Equity Asia (BPEA) has exited Cath Kidston, a UK lifestyle retailer that underwent a restructuring during the initial phase of COVID-19, to turnaround investor Hilco Capital.
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.