North Asia
Japan's J-Star buys energy savings business
Japanese GP J-Star has acquired ESCO, an energy savings solution provider that primarily works with condominium managers, for an undisclosed sum.
HarbourVest opens Korea office
HarbourVest Partners has opened an office in Seoul. It will be led by Minjun Chung, who is already responsible for investment opportunities and client relations in South Korea.
Korea's CJ withdraws from bidding for MBK-controlled Coway
South Korean conglomerate CJ Corporation decided against submitting a final bid for a controlling stake in Coway, a domestic water purifier manufacturer, controlled by MBK Partners.
J-Star owned medical insurer makes bolt-on acquisition
Nihon Hoken Service (NHS), a Tokyo-based insurance agency and insurance solicitation business bought by J-Star earlier this year, has completed the bolt-on acquisition of industry peer Sokisha Corporation.
Japan skills platform gets $4.4m in funding
Coconala, a Japanese skills marketplace formerly known as WelSelf, has raised JPY540 million ($4.4 million) in funding from Jafco, Nissay Capital, SMBC Venture Capital and Voyage Ventures.
Global Brain, Dentsu, Mitsui in $6.1m round for Japan's Kabuku
Japan-based Kabuku, manager of 3-D printing service Rinkak, has closed a JPY750 million ($6.1 million) Series A round with participation by Global Brain, Dentsu Digital Holdings and Mitsui Sumitomo Insurance Venture Capital.
Japan Post Bank to launch private equity division
Japan Post Bank, a unit of the recently-privatized Japan Post Holdings, will create a division to explore private equity investment opportunities.
Bain makes part-exit as Japan's Bellsystem24 goes public
Bain Capital has made a partial exit from Bellsystem24 as the Japan-based call center business raised JPY48.1 billion ($391 million) through an IPO. The company plans to broaden its service offering and expand into Southeast Asia.
Hamilton Lane opens Korea office
Hamilton Lane has opened an office in Seoul, the firm's 12th globally. It will be headed by Sung-ji An, who is relocating from Hong Kong.
APG, CPPIB join e-Shang in $500m Korea logistics venture
Canada Pension Plan Investment Board (CPPIB) and Dutch pension fund manager APG Asset Management will establish a logistics-focused joint venture in South Korea with e-Shang, a Chinese warehousing operator backed by Warburg Pincus.
Rakuten launches $100m fund for global fintech investments
Japanese e-commerce giant Rakuten has launched a $100 million fund for investments in financial technology start-ups worldwide.
HarbourVest makes two promotions in Asia
HarbourVest Partners has promoted two Asia-based professionals – Minjun Chung and Kanji Takenaka, who focus on South Korea and Japan, respectively – to principal.
Korea's NPS loses chairman, CIO
South Korea’s National Pension Service (NPS) is recruiting a new chairman and CIO after the two incumbents stepped down due to tensions over strategy.
Wind Point Partners buys Korean lens manufacturer
Chicago-based private equity firm Wind Point Partners has acquired Daemyung Optical, South Korea’s second-largest manufacturer of optical lenses. Financial terms were not disclosed.
Fortress raises $1.1b for third Japan special situations fund
Fortress Investment Group has closed its third Japan-focused special situations fund at the hard cap of $1.1 billion. Ten deals have already been completed with more than JPY17 billion ($140 million) deployed.
Ability to change management key to value creation - AVCJ Forum
Having the ability to change the management team in a portfolio company remains a critical factor for private equity investors as they place greater emphasis on the value-add process.
China cross-border e-commerce platform raises $30m
Bolome, a Shanghai-based cross-border e-commerce platform, has raised a $30 million Series B round of funding from Chinese and South Korean investors including search engine Baidu, LB Investment, Share Capital and Chengwei Capital.
Japan female-focused video ad network raises $6.6m
Jafco, TBS Innovation Partners and strategic investors iStyle and Excite Japan have invested JPY800 million ($6.6 million) in Open8, a Tokyo-based start-up that a video ad platform targeted at women.
Reorient sells stake in Korean GP EQ Partners
Korean Investment Holdings has agreed to buy the entire shares in Seoul-based private equity firm EQ Partners from Hong Kong-listed financial services Reorient Group for $6.6 million in cash.
CITIC Capital buys Japan-based footwear brand
CITIC Capital Partners has acquired Japanese footwear company Akakura for an undisclosed sum.
Nippon Life to raise stake in India's Reliance Capital
Japanese life insurance firm Nippon Life will pay INR12 billion ($184 million) to increase its stake in Indian asset manager Reliance Capital Asset Management (RCAM).
SoftBank backs US-based Cybereason, supports Japan expansion
SoftBank Corp. has led a $59 million Series C round of funding for US-based Cybereason and will help the company distribute its cyber-security platform in the Japanese market.
Profile: Phronesis Partners' Tomoya Shiraishi
Having worked on one of Japan’s biggest-ever deals with Permira, Tomoya Shiraishi returned to his small-cap growth buyout roots with Phronesis Partners – with a bit of venture philanthropy in between
3Q analysis: Digital dreamers
Early- and growth-stage technology deals dominate the China investment charts; middle market fundraising enjoys a rebound; private equity investors turn to trade sales as the public markets flounder