North Asia
Deal focus: Bonchon flies the coop
VIG Partners acquires Bonchon, a Korean-headquartered fried chicken restaurant chain with a global presence, with an eye to growing the business worldwide
CVC makes partial exit as Arteria raises $193m in Japan IPO
CVC Capital Partners has made a partial exit from Arteria Networks as the Japanese enterprise-focused broadband provider raised JPY21.9 billion ($193 million) in its Tokyo IPO.
2018 in review: Volatility vortex
Pan-regional funds attract the bulk of capital while the renminbi space withers; mixed fortunes for internet IPOs and trade sales; big buyouts fail to deliver but growth-stage tech stays strong
Japan's Axelspace gets $23m Series B
Axelspace, a Japanese start-up focused on ready-to-launch microsatellite technology, has raised a JPY2.6 billion ($23 million) Series B round led by Global Brain and property developer Mitsui Fudosan.
Korea's Viva Republica raises $80m at $1.2b valuation
Kleiner Perkins and Ribbit Capital have led an $80 million funding round for Viva Republica that values the Korean financial technology start-up at about $1.2 billion.
Baring Asia pursues privatization of Japan's Pioneer
Baring Private Equity Asia has agreed to privatize Pioneer Corporation through a two-stage revitalization plan that will see it invest JPY102 billion ($905 million) in the struggling Japanese conglomerate.
Japan Post Capital leads $26m Series E for Sansan
Japan Post Capital has led a JPY3 billion ($26.4 million) Series E round for Sansan, a Tokyo-based company that applies cloud technology to business card management services.
Salesforce launches $100m Japan VC fund
Enterprise software giant Salesforce has launched a $100 million fund via its venture investment unit that will focus on cloud-based technologies in Japan.
Google joins Series C round for Japan's Abeja
Google has participated in a Series C round for Japanese corporate analytics player Abeja, taking the company's cumulative funding to JPY6 billion ($53 million).
Ardian opens Korea office
Ardian has opened an office in South Korea – its fourth in Asia – in order to service the needs of a growing investor base in the region.
Cool Japan leads $44m round for Spiber
Cool Japan Fund has led a JPY5 billion ($44 million) round for Spiber, a domestic biotechnology developer focused on synthesizing protein-based materials that simulate characteristics of spiderwebs.
Morgan Stanley's Matsuyama joins Carlyle Japan
The Carlyle Group has named Tomofumi Matsuyama (pictured), a former executive at Morgan Stanley, as a managing director of its Japan buyout team.
VIG buys global Korean fried chicken franchise
VIG Partners has agreed to buy a 55% stake in Bonchon International, a Korean fried chicken restaurant brand with 325 outlets across eight countries. The size of the transaction was not disclosed.
Polaris to acquire Japan's O-Net from Rakuten
Polaris Capital has agreed to acquire Japanese online marriage services and event planning business O-net from e-commerce giant Rakuten for an undisclosed amount.
Korea's ACE Equity seals $356m tech manufacturing buyout
ACE Equity Partners, a Korean private equity firm that operates on a project fund basis, has acquired Daeho Technology Korea (DTK), a manufacturer of glass used in smart phones, for KRW400 billion ($356 million).
VIG-owned Hi-Parking buys Wilson Parking Korea
HiParking, a Korean parking managing business owned by VIG Partners, has agreed to buy Wilson Parking Korea as part of an industry consolidation play.
Japan's NTT launches $500m global VC fund
Japanese telecommunications giant NTT Corporation has set up $500 million global venture capital fund that will focus on digital technologies.
Deal sourcing: Priority access
While proprietary deals are not always possible in Asian private equity, there are many ways for GPs to gain an edge even when competing with multiple bidders for the same asset
SCPE buys controlling stake in Korean meat importer
Standard Chartered Private Equity (SCPE) has acquired a controlling interest in Sunwoo, a South Korea-based meat importer, for $90.1 million.
Deal focus: L Catterton enters Japan with Owndays
In its debut Japan investment, L Catterton plans to help eyewear maker Owndays expand its customer-friendly business model outside its home market
Vision Fund invests $2b in Korea’s Coupang
SoftBank Vision Fund has committed $2 billion to South Korean e-commerce business Coupang, reportedly valuing the company at $9 billion.
CITIC Capital buys control of cooking sauce brand Amoy
CITIC Capital has acquired a controlling stake in Amoy Food, a Hong Kong-based manufacturer of cooking sauces owned by Japanese food and beverage maker Ajinomoto, for an undisclosed sum.
Korean GPs worry about valuations, wage hikes - AVCJ Forum
South Korean private equity investors warned the AVCJ Forum that valuations and an increase in the minimum wage could play havoc in the market next year following what has so far been a relatively benign 2018.
LPs drive evolution in Asia back office practices – AVCJ Forum
Growing demand for information and reporting among a shifting LP base is leading Asian GPs to improve their back office structuring, investors told the AVCJ Forum.
