North Asia
KKR, Japanese banks pump $1.2b into Marelli
Marelli, a leading global automotive components supplier formed when KKR combined Japan’s Calsonic Kansei Corporation with Europe-based Magneti Marelli, has secured JPY130 billion ($1.2 billion) in additional funding to ride out a market downturn.
Mitsubishi UFJ invests Japan vegetarian meat player
Mitsubishi UFJ Capital has joined a Series A round for Japanese plant-based meat producer Daiz that brings the company’s total funding to JPY1.2 billion ($11.2 million).
Advantage completes exit from Japan's FMI
Advantage Partners has completed its exit from Japanese kitchenware products manufacturer FMI Corporation to Toho Group, a Tokyo-listed food wholesaler that bought a majority stake in the business two years ago.
MBK closes Fund V at $6.5b hard cap
MBK Partners has closed its fifth North Asia-focused fund at the hard cap of $6.5 billion. It is the joint third-largest PE vehicle raised for deployment across the region and MBK has become the seventh manager to cross the $6 billion threshold.
Japan biotech player raises $25m Series B
Japanese biotech developer Modulus Discovery has raised $25.5 million in Series B funding from a group of local VCs including SBI Investment.
Korea's Kurly raises $164m Series E
Kurly, operator of Korean grocery delivery platform Market Kurly, has raised KRW200 billion ($164 million) Series E round from a group of domestic and international VCs.
KDB, K-Growth commit $2b to Korea VC ecosystem
State-owned Korea Development Bank (KDB) and Korea Growth Investment (K-Growth), a fund-of-funds, have jointly committed KRW2.5 trillion ($2 billion) to the local VC ecosystem.
Bain makes $1b bid for Japan care services provider
Bain Capital has submitted a buyout offer for Nichii Gakkan, a Tokyo-listed provider of aged care, childcare and medical support services, that values the company at approximately JPY109.5 billion ($1 billion).
Asia private debt: Inflection point?
With other pools of capital running dry for many companies, private debt has become a more appealing proposition. Institutional funds have a chance to impose themselves on a bank-driven market
CLSA acquires Japan IT services provider
CLSA Capital Partners (CLSA CP) has acquired a majority stake in Japanese IT services provider Earth Technology for an undisclosed sum.
Hamilton Lane backs Polaris-led privatization of Japan's Sogo Medical
Hamilton Lane has participated as a co-investor in a Japanese take-private for the first time, supporting a Polaris Capital Group-led tender offer for Sogo Medical Holdings, a Japanese pharmacy chain operator and B2B healthcare management platform.
Korea's IMM invests $40m in Chinese water business
IMM Investment, a Korea-based GP that focuses on venture capital, mezzanine and infrastructure deals, has committed $40 million to United Water Corporation, a Chinese water and wastewater treatment provider.
Fund focus: Coral targets Japan's Series B gap
Having previously raised dedicated vehicles to support follow-on rounds for Japanese start-ups, Coral Capital has gone a step further with a fund dedicated to the strategy
Advantage raises $790m for sixth Japan buyout fund
The middle-market private equity firm expects COVID-19 to generate more deal flow as founder-owners and corporates come under stress
Deal focus: Korean GPs seal semiconductor carve-out
Alchemist Capital Partners and Credian Partners' acquisition of MagnaChip Semiconductor’s foundry services group was the largest PE buyout in Korea during the first quarter. AVCJ and Mergermarket offer some insights
Coronavirus & North Asia VC: Diverging fortunes
Speed of response to COVID-19 has led to differing outcomes for VC investment in Korea and Japan. But structural issues are also a factor
Korean digital food trading platform raises $11m
Tridge, a Korean international trading platform for agricultural products, has raised $11 million in a Series B round from SoftBank.
Singapore GP launches $500m Japan-Israel tech fund
Singapore private equity firm Chartered Group has teamed up with Israel’s Ministry of Defense to launch a Japan-Israel cross-border technology fund targeting $500 million.
Risa targets $139m for Japan corporate solutions fund
Risa Partners, a Japanese mid-size investment bank controlled by a subsidiary of NEC Corporation, has launched its fifth corporate solutions fund with a target of JPY15 billion ($139.5 million).
Japan's Hiroshima Venture launches start-up, SME fund
Japan’s Hiroshima Venture Capital has established a JPY1 billion ($9.3 million) fund that will invest in local start-ups and small to medium-sized enterprises (SMEs).
Deal focus: Integral discovers booming cosmetics niche
Now under private equity ownership, T-Garden is credited with pioneering fashion model-led contact lens marketing in Japan - and helping an often-overlooked market creep into the mainstream
Japan's Coral launches $25m growth fund
Coral Capital, formerly known as 500 Startups Japan, has set up a JPY2.7 billion ($25 million) growth fund to help top-performing portfolio companies navigate the COVID-19 downturn.
Japan's Paidy tops up Series C round
Japanese payments start-up Paidy has topped up its Series C round with an additional commitment from Itochu Corporation. It brings the company's total capital raised to date to $281 million.
VIG makes second Korea funeral services acquisition
Korea’s VIG Partners has made the second investment from its fourth fund – which closed at $810 million in January – with an agreement to acquire Preedlife, the country’s leading funeral services provider.