North Asia
CBC-led consortium buys Bain's stake in Korean botox maker
A consortium led by Asia healthcare-focused private equity firm CBC Group has agreed to acquire a 46.9% interest in Hugel, a South Korean manufacturer of botox and other health-related pharmaceuticals, for KRW1.7 trillion ($1.5 billion).
Korea's Danggeun Market raises $162m at $2.7b valuation
DST Global has led a $162 million Series D round for Danggeun Market, operator of Korean flea market app Karrot, at a valuation of $2.7 billion.
Affirma invests $100m in Korea cloud services provider
Affirma Capital has secured a third deal for its latest Korea fund, with an agreement to invest $100 million in Metanet T Platform, a local cloud managed service provider (MSP).
Singapore's Antler opens Korea office
Antler is extending an aggressive expansion with the opening of a Korean office. The Singapore-based incubator and VC investor has set up 11 overseas bases since its inception in 2017.
Vision Fund pulls back from China amid regulatory uncertainty
SoftBank Vision Fund is taking a “wait and see” approach to China, holding back on new investments in the country until the full ramifications of regulatory action in the technology sector are known.
Affirma invests $77m in Korean steelmakers
Affirma Capital has acquired a majority stake in two steel manufacturing subsidiaries of Korea-based industrial conglomerate SeAH Group for $76.9 million.
Japan's iSpace raises $46m Series C
Japan’s Incubate Fund has led a JPY5.1 billion ($46.5 million) Series C round for iSpace, a local lunar exploration technology developer firming up an ambitious calendar of missions.
Activist target Japan Asia Group agrees asset sale to Carlyle
Japan Asia Group (JAG) has revived plans to sell stakes in two key subsidiaries to The Carlyle Group, six months after a similar transaction was abandoned in the face of opposition from activist investors. The deal is worth JPY58.5 billion ($534 million).
Japan sneaker marketplace raises $56m
SoftBank Ventures Asia has led a JPY6.2 billion ($56.4 million) Series C round for Japanese sneaker marketplace and e-commerce start-up Soda.
Deal focus: IMM sees structural change in home decor
Having agreed to provide a succession solution to the founder of Korean furniture retailer and interior designer Hanssem, IMM Private Equity wants to harness growth through demographics and differentiation
J-GIA carves out furniture business from Japan's Seven & i
Japan Growth Investments Alliance (J-GIA) has agreed to buy a majority stake in furniture and home décor business Francfranc – which has stores in Japan and Hong Kong – from Seven & i Holdings, the parent of 7-Eleven.
Deal focus: Fujitsu Ventures updates ancient grains
Fujitsu is bringing blockchain to the rice industry with a ramped up corporate VC agenda. Digital transformation is the goal; food security and sustainable trade are the outcomes
Portfolio: Integral Corporation and Nitto FC
Japan’s Integral Corporation treads lightly in the conservative agriculture space as it helps fertilizer maker Nitto FC evolve from an owner-centric culture to a more distributed power structure
Vision Fund commits $1.7b to Korean travel start-up Yanolja
Yanolja, which claims to be South Korea’s only travel industry unicorn, has received $1.7 billion from SoftBank Vision Fund 2. There are no other investors in the round.
Fujitsu VC unit backs rice trading platform
Fujitsu, one of Japan’s largest IT companies, is backing the world’s first digital global rice trading platform in the debut deal from its latest corporate VC fund.
GP profile: Unison Capital
Unison Capital hones its game and holds tight to its heritage as one of the pioneers of private equity in Japan, even as its tentacles begin to span the breadth of Asia
Korea's Kurly raises $200m, targets domestic listing
Korean grocery delivery platform operator Kurly has raised a $200 million Series F round at a valuation of $2.2 billion, as plans for a US IPO are scrapped in favor of a local listing.
Advantage, Tokyo Century agree Japan battery carve-out
Advantage Partners is making another investment alongside Tokyo Century Corporation – which bought a stake in the GP two years ago – with an agreement to buy a battery business controlled by local conglomerate Showa Denko.
Baring Asia secures $324m exit from Korean courier business
Baring Private Equity Asia has sold Korean courier company Logen, ending an eight-year holding period that featured a disputed – and aborted – sale to CVC Capital Partners followed by an arbitration proceeding.
Japan's Advantage adds renewables strategy
Japan’s Advantage Partners has broadened its investment scope with the introduction of a renewables and sustainability strategy.
Nippon Investment acquires Japan wine brand
Japanese private equity firm Nippon Investment Corporation (NIC) has acquired the local subsidiary of Germany-based winemaker and distributor Pieroth for an undisclosed sum.
Korea's Viva Republica raises $405m at $7.2b valuation
Viva Republica, operator of the Korean money transfer app Toss, has raised a KRW460 billion ($404 million) round led by US-based Alkeon Capital, at a valuation of around $7.2 billion.
Japan activists: Enablers or destabilizers?
The corporate governance scandal at Toshiba underlines the increasing influence of activist investors in Japan. For private equity firms, there are two sides to the coin
Korea delivery platform Barogo gets $72m Series C
Korean delivery platform Barogo has raised KRW80 billion ($72 million) in Series C funding featuring several local private equity investors, including LB Investment and STIC Ventures.
