Regions
PE consortium cuts 51job take-private offer by 28%
A private equity consortium pursuing a take-private of US-listed Chinese online recruitment platform 51job has cut its offer price by 28%, citing deteriorating market conditions, regulatory tightening in China, and the continuing impact of COVID-19.
Family offices to mix caution with courage in 2022
Conservatism in a post-pandemic world must be redefined to include flexibility and exposure to progressive industries, the Hong Kong Venture Capital & Private Equity Association’s (HKVCA) Asia forum heard.
China plant-based protein player Starfield raises $100m
Primavera Capital Group has led a USD 100m Series B for Starfield, a Chinese producer of plant-based meats.
India waste management software provider secures $22m
Recykal, a software provider for the waste management and recycling industries, has raised USD 22m in funding led by Morgan Stanley India Infrastructure.
Deal focus: India's Prime Venture secures four-year extension
Foundation Private Equity has made its first foray into India, taking out all the LPs in Prime Venture Partners' debut fund through a tender offer process
MDI leads $108m round for Indonesia's KoinWorks
MDI Ventures, the VC arm of Telkom Indonesia, has led a USD 108m Series C round for Indonesia P2P lending platform KoinWorks.
China sustainability start-up Bluepha raises $235m
Bluepha, a China-based synthetic biology company working on a range of biodegradable plastics, has raised a three-tranche Series B of CNY 1.5bn (USD 235m).
Indonesia's eFishery raises $90m Series C
Temasek Holdings, SoftBank Vision Fund 2, and Sequoia Capital India have co-led a USD 90m Series C round for Indonesian aquaculture technology start-up eFishery.
Goldman, Sofina lead Series C for China CDMO Zhenge
Goldman Sachs Asset Management and Sofina have led a USD 100m Series C round for Zhenge Biotech, a Shanghai-based contract development and manufacturing organisation (CDMO).
Fund focus: Eastern Bell targets digitalisation
As a supply chain specialist, Eastern Bell Capital claims to have a differentiated take on China industrial digitalisation. It has USD 800m in dry powder to prove this thesis
Fund focus: Northstar navigates fundraising doldrums
Like many GPs, Northstar Group found fundraising difficult but deployment fruitful during the darkest days of pandemic uncertainty. Pausing the virtual roadshow for its latest vintage proved shrewd
Profile: Alkemi Growth Capital’s Alka Goel
A trail of haphazard jobs helped flesh out Alka Goel’s adventurousness and people skills before she established Indian healthcare and wellness specialist Alkemi Growth Capital
Tiger Global leads Series B for India's Avataar
Tiger Global Management has led a USD 45m Series B round for India’s Avataar, a company that uses 3D augmented reality (AR) displays to help e-commerce customers browse large items online.
New Zealand's AskNicely raises $32m Series B
Five Elms Capital, a specialist growth investor in software start-ups globally, has led a USD 32m Series B round for New Zealand and US-based customer feedback platform AskNicely.
India delivery business Dunzo raises $240m
Reliance Retail Ventures has contributed USD 200m to a USD 240m round for Indian last-mile delivery start-up Dunzo, taking a 25.8% stake.
Carsome hits $1.7b valuation on closing $290m Series E
Carsome, a Malaysia-headquartered used car trading platform with operations across Southeast Asia, has raised USD 290m in Series E funding led by Qatar Investment Authority (QIA), 65 Equity Partners, and Seatown Private Capital Master Fund.
India sports: In it to win it
Private equity interest in the commercialisation of sport globally is filtering through to India, with a couple of high-profile cricket deals. What other franchises and rights owners could be up for grabs?
Vertex, Tikehau lead Singapore SPAC charge
Special purpose acquisition companies (SPACs) backed by Vertex Venture Holdings (VVH) and Tikehau Capital have filed for listings in Singapore.
FountainVest buys China QSR restaurant operator from EQT
FountainVest Partners has acquired China F&B Group (CFB), one of the master franchise operators for Papa John’s and Dairy Queen in mainland China, from EQT for an undisclosed sum.
Sun Hung Kai leads Series B for Singapore digital asset bank
Sygnum, a Singapore and Switzerland-based digital asset bank, has raised a Series B of USD 90m - at a post-money valuation of USD 800m - led by Hong Kong-based investor Sun Hung Kai & Co.
China gene therapy start-up Cure Genetics raises $60m
Advantech Capital has led a USD 60m Series B for Suzhou-based biotech player Cure Genetics. Other investors include Oriza Holdings, Blue Ocean Private Equity, and Qiming Venture Partners.
Singapore's Virtue Diagnostics closes $100m Series B
Singapore-based Virtue Diagnostics, a clinical testing equipment supplier for China and developing markets, has raised a USD 100m Series B round led by Sequoia Capital China and Morningside Ventures.
China's Ince raises $700m across two funds
Ince Capital, a Chinese venture capital firm established by J.P. Gan, formerly a managing partner at Qiming Venture Partners, has raised USD 700m for its second fund and for an accompanying vehicle aimed at later-stage opportunities.