North Asia
VCs back South Korean biopharma player ExoCoBio
South Korean biopharmaceutical developer ExoCoBio has raised an $11 million Series A round from investors including SBI Investment, Atinum Investment, ID Ventures, and Dt&Investment.
CMIG to create $15b One Belt One Road fund
China Minsheng Investment Group (CMIG), the largest privately-held investment group in China, has initiated a new fund that could raise up to $15 billion for investment in overseas projects under the government-backed "One Belt One Road" initiative.
Polaris closes fourth Japan fund on $665m
Polaris Capital Group has hit the hard cap of JPY75 billion ($665 million) for its fourth Japan fund, becoming the third Japanese mid-market GP to announce a final close in the space of a week, and the sixth since the start of the year.
CVC appoints Sumitomo Mitsui executive as Japan president
CVC Capital partners has named Nobuaki Kurumatani, a former executive at Sumitomo Mitsui Financial Group, as the president of its Japan operations.
Advantage closes fifth Japan fund at $535m
Advantage Partners has reached a final close on its fifth Japan-focused mid-market buyout fund at the hard cap of JPY60 billion ($535 million).
J-Star raises $291m for third Japan fund
J-Star has closed its third Japan-focused buyout fund at the hard cap of JPY32.5 billion ($291 million), having launched the vehicle last summer with a target of JPY30 billion.
HQ exits vehicle parts supplier to Japan’s Hitachi Chemical
HQ Equita, a Germany-based mid-market buyout firm controlled by HQ Capital, has agreed the sale of transportation industry supplier Isolite to Japan’s Hitachi Chemical.
NSSK acquires Japanese publishing group
Japanese private equity firm NSSK has acquired Bunkasha Publishing, a domestic media group focused on manga comics in both print and digital formats.
Excelsior buys Office Depot Korea business
Hong Kong-based private equity firm Excelsior Capital has bought the South Korea business of business products supplier Office Depot.
CDIB invests in South Korean skincare company
CDIB Capital, the private equity arm of Taiwan’s China Development Financial, has invested an undisclosed sum in L&P Cosmetic, a skincare company based in South Korea.
South Korea's Ticket Monster raises $115m
Ticket Monster, a PE-backed e-commerce operator based in South Korea, has received a $115 million investment aimed at expanding its grocery shopping and travel services businesses.
Deal focus: Autoplus primed as industry consolidator
Autoplus is the only independent player of the three groups that dominate used car sales in South Korea. Having bought the business for $97 million, VIG Partners expects the company to strengthen its grip on the market
KKR, JIP seek $2.3b buyout of Japan's Hitachi Kokusai Electric
KKR has announced its third tender offer for a Japanese company in six months, teaming up with Japan Industrial Partners (JIP) and Hitachi on a JPY257.1 billion ($2.3 billion) bid for Hitachi Kokusai Electric.
New Horizon acquires Japan firefighting business
New Horizon Capital has agreed to acquire the firefighting equipment business of Japanese manufacturing firm IHI Shibaura Machinery Corporation (ISM).
CITIC Capital to exit Japanese chemicals manufacturer
CITIC Capital has agreed to exit 100% of Japanese chemicals manufacturer Polymatech to two domestic strategics.
Korea healthcare: Quickening pulse
Korea’s government is playing a long game by propping up the local health tech start-up ecosystem. VCs that share this vision are identifying the obstacles and planning for growth
IMM commits $266m to Korean shipbuilder
IMM Investment has agreed to invest KRW300 billion ($266 million) in Korean shipbuilder Hyundai Samho Heavy Industries (HSHI).
MBK-owned ING Life to raise $972m in Korea IPO
MBK Partners will make a partial exit from ING Life Korea as the insurer raises KRW1.1 billion ($972 million) in its domestic IPO.
IMM launches tender offer for Korean cosmetics player
A consortium led by IMM Investment has agreed to pay KRW188.2 billion ($166 million) for a 25.54% stake in Korean cosmetics manufacturer Able C&C and launched a tender offer to secure control of the business.
VIG buys Korean used car retailer for $97m
VIG Partners has agreed to acquire 100% of South Korea-based used car retailer and maintenance provider Autoplus for KRW110 billion ($97 million). The plan is to build the business into a local equivalent of CarMax, which is the leading player in the...
Integral closes third Japan mid-market fund at $670m
Integral Group has closed its third Japan mid-market buyout fund at the hard cap of JPY73 billion ($670 million), with domestic LPs accounting for approximately three quarters of the corpus.
Bain to invest in Korean botox manufacturer - update
Bain Capital Private Equity has agreed to buy a controlling stake in Hugel, a South Korean manufacturer of botox and other health-related pharmaceuticals, for approximately KRW927.4 billion ($830 million).
Japan's Kobe Steel buys Quintus from Milestone
US private equity firm Milestone Partners has exited its controlling stake in Sweden and US-based industrial equipment company Quintus Technologies to Japan’s Kobe Steel.
Korea to create $7b restructuring fund
South Korea has announced plans for a KRW8 trillion ($7 billion) fund – of which half will come from private sector feeder vehicles – as part of government efforts to initiate a more market-based approach to corporate restructuring.