North Asia
PE-backed WealthNavi soars on Tokyo debut
Japanese financial technology start-up WealthNavi gained 100% on its trading debut following a JPY17.9 billion ($172.9 million) IPO that facilitated partial exits for Gree Ventures, Infinity Venture Partners, and Global Brain.
The crystal ball: Predictions for 2021
Industry professionals process the upheavals of 2020 to inform outlooks for a range of markets and investment themes. Realist bullishness abounds
OTPP backs Korean fried chicken chain at $1.6b valuation
Ontario Teachers’ Pension Plan (OTPP) has invested in Korean fried chicken restaurant franchisor BHC Group at an enterprise valuation of KRW1.8 trillion ($1.6 billion), facilitating a full exit for Elevation Equity Partners.
IMM raises $1.8b for fourth Korea fund
IMM Private Equity will complete fundraising for its fourth Korea-focused vehicle at the end of this month, with KRW2 trillion ($1.8 billion) in commitments. It caps a year in which the firm expects to close two new investments and agree exits on three...
Fund focus: Integral scales up again
Riding on a wave of IPOs that have returned the principal on Fund II and given Fund III a strong start, Integral Corporation has secured $1.18 billion in commitments for its fourth Japan fund
2020 in review: Surprise guest
The coronavirus pandemic has played havoc with Asian private equity, contributing to a resurgence in IPOs, increased bifurcation in fundraising, a rush for healthcare, and a generally staggered revival
Advantage, Tokyo Century agree Japan health foods deal
Advantage Partners has teamed up with Tokyo Century Corp. and Japanese strategic Euglena to acquire Q’Sai, a local health foods and cosmetics business, from Coca-Cola Bottlers Japan Holdings.
J-Star acquires Japan drug wholesaler Genex
Japanese private equity firm J-Star has taken a controlling stake in local pharmaceuticals wholesaler Genex for an undisclosed sum.
SoftBank joins $60m Series B for Korean payments player
SoftBank Ventures Asia has joined a $60 million Series B round for Korean payments technology start-up Chai.
Deal focus: Japan GPs see upside in specialized staffing
CLSA Capital Partners’ sale of Japanese staffing services player Qit to Advantage Partners reveals enduring private equity interest in potentially shaky categories made sturdy by specialization
Japan's Integral completes $1.2b fundraise
Integral Corporation has become the second independent Japanese private equity manager since the global financial crisis to surpass $1 billion in fund size, closing its fourth mid-market buyout vehicle at the hard cap of JPY123.8 billion ($1.18 billion).
Japan’s JIC invests four local start-ups
Japan Investment Corporation (JIC) has backed four local start-ups via its new VC unit. This includes a JPY3 billion ($29 million) commitment to business digitization consultant Monstar Lab.
Portfolio: VIG Partners and Joun Life/Preed Life
By merging Joun Life with Preed Life, VIG Partners’ groundbreaking venture into Korean funeral services is reimagining an industry beyond its core ceremonies
Korea's MegazoneCloud raises $122m Series B
Korean enterprise cloud services provider MegazoneCloud has closed a $122 million Series B round featuring more than 20 investors, including at least eight private equity firms.
Asia travel & hospitality: Ready to board?
The outlook for international tourism remains uncertain, but this hasn’t stopped some private equity and venture capital investors targeting travel and hospitality assets in Asia. It pays to be selective
VC unit of Japan's KLab spins out, rebrands as Anobaka
KVP, the VC unit of Japanese mobile games company KLab, has spun out as an independent entity under the name Anobaka.
Ex-Capital Dynamics executive gets Japan fund-of-funds mandate
Kazushige Kobayashi, formerly of Capital Dynamics, has won a fund-of-funds mandate from the Tokyo government to be managed by a dedicated team set up under Asian alternatives group MCP Asset Management.
CLSA sells Japan outsourcing business to Advantage
CLSA Capital Partners has sold Japan-based industrial sector human resources outsourcing business Qit to Advantage Partners for an undisclosed sum.
Japan's MedVenture closes second fund at $95m
MedVenture Partners, a Japanese VC firm focused on medical devices, has closed its second fund with JPY9.9 billion ($95 million) in commitments.
J-Star acquires Japanese homeware brand
Japanese private equity firm J-Star has acquired a controlling stake in local homeware brand Shirayuki Fuukin for an undisclosed sum.
Warburg Pincus set for another partial exit from ESR
Warburg Pincus has agreed to make another partial exit from ESR, the pan-Asian logistics real estate platform it established in 2011 and took public last year, which will see its stake fall to 4.56%.
Warburg Pincus, Advantage honored at AVCJ Awards
Warburg Pincus and Advantage Partners triumphed in the firm of the year categories at the 2020 AVCJ Private Equity & Venture Capital Awards, with The Carlyle Group and Affinity Equity Partners also among the winners with two trophies apiece.
KKR agrees $1.6b carve-out of Walmart's Japan business
KKR has agreed to acquire a majority stake in Seiyu, a Japanese supermarket operator controlled by US-headquartered Walmart, in a deal that values the business at JPY172.5 billion ($1.6 billion).
Virtual AGMs & IR: Up in the air
Private equity firms are still finding their feet with annual meetings that no longer take place on the ground. Like it or not, virtual engagement is set to become a larger part of investor relations from now on