North Asia
Japan's LayerX lifts Series A to $59m
Japan’s LayerX, an enterprise billing and invoicing software provider, has lifted an ongoing Series A round to JPY 8.2bn (USD 59m) with support from several local VC firms.
GP profile: 500 Global
500 Global’s emergence as a preeminent seed investor in Southeast Asia has played out against the backdrop of a broader transformation from US accelerator into international multi-stage venture capital firm
Hahn launches tender offer for Korean medical devices player
Hahn & Company has launched a KRW 957bn (USD 735.9m) tender offer for listed Korean medical devices manufacturer Lutronic, working in conjunction with the company’s founder and CEO.
Japan's J-Star buys freight forwarding company
Japan’s J-Star has acquired local freight forwarding business Japan Trust Holdings for an undisclosed sum as part of a transportation services consolidation play.
Affinity's Korea head resigns
Sam Lee has resigned from his position as a partner and head of Korea at Affinity Equity Partners, ending a 15-year tenure with the pan-regional private equity firm.
KKR secures partnership with Japan Post Insurance
Japan Post Insurance (JPI) has launched a strategic partnership with KKR and the private equity firm’s insurance subsidiary Global Atlantic Financial Group. The deal will give JPI access to a broader range of investments and support its diversification...
Japan buyouts: Bucking the trend
Japan remains a private equity hotspot despite muted buyout activity elsewhere in Asia. Take-private and sponsor-to-sponsor opportunities make for a more textured local market
Q&A: Jafco Asia’s Shahan Sud
Singapore’s Jafco Asia, a division of Japanese VC mainstay Jafco, hired Shahan Sud last year as its first in-country investment director for India. He explains a cross-border bridge long in the making
Praxis invests $170m in Korea's Beyond Music
Korean private equity firm Praxis Capital has led a USD 170m investment in local music rights investment and management company Beyond Music.
Deal focus: Go aims to bring Japan’s taxis up to speed
Goldman Sachs-backed taxi-hailing platform Go wants to address Japan’s taxi driver shortage and bring digitalisation to an industry that remains rooted in an analogue world
Japan's Heartseed raises $14m Series D
Heartseed, a Tokyo-based biotech start-up specializing in treatments that use cardiac muscle cells to initiate the remuscularization of patients who have suffered heart failure, has raised JPY 2bn (USD 14.3m) in Series D funding.
Goldman backs Japan taxi-hailing player Go
Goldman Sachs Asset Management (GSAM) has committed JPY 10bn (USD 75m) in Series D funding to Go Inc, operator of a Japan-based taxi-hailing app.
Fund focus: Foreign LPs creep into Japan VC
Japan’s Dimension has closed its first fund since spinning out from Dream Incubator, more than doubling its prior vintage and tracking increased interest among regional institutional investors
Exacta seeks $350m for SE Asia fund, wins ADB support
Singapore’s Exacta Capital Partners, a PE firm affiliated with Mizuho Asia Partners, has received USD 25m from Asian Development Bank (ADB) for its latest fund. The target is USD 350m.
Japan Post Bank sees sharp increase in PE exposure
Japan Post Bank’s (JPB) private equity funds exposure increased 75% to JPY 5.6trn (USD 40.4bn) in the most recent financial year, which it said was largely driven by a change in accounting standards.
Bain buys Japan software player IDAJ
Bain Capital has acquired IDAJ, a Japan-based engineering solutions provider that provides digital platforms to facilitate project development and computer-based design simulation systems.
Japan’s Dimension closes second VC fund on $75m
Dimension, a spinout of Japan’s Dream Incubator, has closed its second VC fund with JPY 10.1bn (USD 75m) in commitments.
KKR takes out Rakuten's stake in Japanese retailer Seiyu
KKR has increased its stake in Japanese supermarket operator Seiyu to 85%, having taken out a position held by local e-commerce giant Rakuten, which supported the private equity firm’s carve-out in 2020.
Japan's Genesia closes Fund III on USD 110m
Japan’s Genesia Ventures, a seed-stage tech investor with a presence in Indonesia and Vietnam, has closed its third fund on USD 110m.
Actis launches $500m Japan renewables platform
Actis has formed a USD 500m Japan renewables platform and acquired Hergo Japan Energy Corporation, which has around 230 megawatts in operating and development projects, as the seed asset.
CLSA exits Japan parking lot operator to Advantage
CLSA Capital Partners (CLSA CP) has agreed to sell Japanese coin-operated parking lot business Ecolocity to Advantage Partners for an undisclosed sum.
Japan's SMBC, Incubate set up USD 200m Asia VC fund
Sumitomo Mitsui Banking Corporation (SMBC) has established a USD 200m growth and late-stage pan-Asian VC fund in partnership with Japan’s Incubate Fund, which will co-manage the vehicle.
Japan VC: Global appetites
The relatively recent advent of sizeable VC funds and high-profile start-ups in Japan has exposed long-simmering ambitions to be more international. This could be a breakout moment
Anchor, Aspex re-up in Korea’s Kurly
Kurly, a Korean grocery delivery platform that abandoned its planned domestic IPO earlier this year, has raised KRW 120bn (USD 91m) from existing investors Anchor Equity Partners and Aspex Management.