North Asia
Bain leads $18m investment in Korean car-sharing service
Bain Capital has led a KRW18 billion ($18 million) Series A round of funding for Socar, a Korean car sharing company.
SoftBank to buy VC-backed online video site DramaFever
Japanese telecom giant SoftBank has agreed to buy DramaFever, a streaming video service that specializes in Korean TV shows and movies. Financial details were not disclosed.
CyberAgent, Mizuho back Japan venue rental marketplace
CyberAgent Ventures and Mizuho Capital have together invested JPY100 million (about $1 million) in SpaceMarket, a Japanese online platform that lists vacant spaces that users can rent for corporate events such as meetings and training courses.
Bain serves up Skylark in Tokyo IPO
When Bain Capital bought Skylark in 2011, the restaurant operator was going through one the rougher patches of its 40-year history. A dysentery outbreak had forced the closure of 120 outlets, further delaying a transaction that had already been on hold...
Hahn & Co in $900m first close on second Korea fund
South Korean GP Hahn & Co – which was founded by Scott Hahn, formerly CIO of Morgan Stanley Private Equity Asia (MSPEA) – has reached a first close of approximately $900 million on its second fund.
J-Star to exit healthcare firm HCM to Alshok Group
Japanese security firm Alshok Group has agreed to acquire Tokyo-based healthcare service provider HCM Corporation, paving an exit for mid-market GP J-Star.
Gree Ventures backs Japan marketing start-up
Japanese online marketing firm Somewrite has raised JPY100 million (about $1 million) from corporate venture capital arm Gree Ventures and other undisclosed investors.
Japan's BrainWars app raises $2.8m in VC funding
East Ventures, Skyland Ventures, Genuine Startups and Line Ventures, the VC unit of messaging app firm Line Corp, have together invested JPY300 million ($2.8 million) in TransLimit, the Tokyo-based start-up behind social quiz app BrainWars.
Shares in Bain-backed Skylark fall on Tokyo debut
Shares in Skylark, the Japanese restaurant operator backed by Bain Capital, fell by nearly 4.8% on the first day of trading on the Tokyo Stock Exchange (TSE) following a JPY75.1 billion ($686.2 million) IPO.
Japan's Mercari raises $22m Series C round
Mercari, the Japanese start-up behind the mobile flea market app of the same name, has raised JPY2.36 billion ($21.8 million) in Series C funding from World Innovation Lab (WiL) and existing investors Global Brain, Globis Capital Partners, GMO Venture...
Permira in talks to sell Arysta to Platform Specialty – report
Arysta LifeScience, the Japanese agricultural chemicals maker owned by Permira that last month filed for a US IPO, is said to be in talks with Platform Specialty Products over a potential acquisition.
Jafco commits $4.6m in Japan footwear site Locondo
Jafco has invested JPY500 million ($4.6 million) in Japanese footwear e-commerce start-up Locondo in a Series C round of funding.
Marunouchi exits Japan supermarket chain to Lawson for $501m
Marunouchi Capital - the private equity arm of Mitsubishi Corp - has exited Japanese high-end supermarket chain Seijo Ishii to convenience store operator Lawson for JPY55 billion ($501 million) including debt.
Gree Ventures backs Philippines payments business
Gree Ventures has participated in a Series C round of funding for Philippines-based digital payments business Ayannah. Wavemaker Labs, Golden Gate Ventures, IMJ Investment Partners and Beenos Asia also participated.
J-Star seals first secondary exit
Japan has seen 61 private equity secondary exits since 2011 – more than the combined total for the 10 years before that. This surge in activity can largely be traced back to buyouts from the years leading up the global financial crisis. Investors want...
Japan's J-Star sees 8x return with first secondary exit
Japanese investor J-Star has exited Burn Holdings, a local repair business that primarily serves property developers, to Shinsei Corporate Investment and Creation Capital. The gross return multiple is said to be 8x.
Pavilion, Recruit provide Series B2 for Japan's Freee
Temasek Holdings-owned Pavilion Capital and Recruit Strategic Partners, the VC arm of Recruit Holdings, have led a Series B2 round of funding worth $6 million for Freee, a Tokyo-based provider of automated online accounting software.
Korea's KIC more than doubles PE exposure in 2013
Korea Investment Corporation’s (KIC) private equity investments more than doubled in size to $2.6 billion over the course of 2013 as total assets increased 27% year-on-year to reach $72 billion.
KKR restructures Asia leadership team
David Liu and Ming Lu have been appointed co-heads of Asia private equity at KKR as several members of the firm’s leadership team across the region assume additional responsibilities. Joe Bae remains head of KKR Asia and chairman of the regional investment...
Standard Chartered PE backs garlic-themed restaurant in Korea
Standard Chartered Private Equity (SCPE) has led a $48 million joint investment in Mad for Garlic, a Korea-based Italian restaurant chain that has expanded into Southeast Asia.
Profile: Advantage Partners' Richard Folsom
For the past 30 years Advantage Partners co-founder Richard Folsom has enjoyed a front-row seat on the inner workings Japan's corporate world - here he shares his insights.
Altos Ventures reaches $60m close on South Korea fund
Silicon Valley-based venture capital firm Altos Ventures has reached a final close on its debut South Korea-focused fund at a hard cap of $60 million after eight months in the market.
Japan learning platform Mana.bo raises $3m Series A round
Nissay Capital and Mitsubishi UFJ Capital have joined Japanese education firm Benesse in investing JPY330 million ($3 million) in online learning platform Mana.bo.
Korea's SMBA to form VC fund with DFJ, Walden
Draper Fisher Jurvetson (DFJ) and Walden International have agreed to set up a $150 million venture capital fund with South Korea’s Small and Medium Business Administration (SMBA).