Regions
Microsoft VC unit leads $22m round for India’s SalesKen
M12, Microsoft’s VC arm, has led a $22 million Series B round for SalesKen, an Indian enterprise artificial intelligence (AI) provider focused on sales-related services.
NetEase music spinout completes $449m Hong Kong IPO
Cloud Village, a music streaming business controlled by Chinese internet giant NetEase and backed by several private equity investors, has raised HK$3.5 billion ($449 million) through a Hong Kong IPO.
China IPOs: The star still wanes
Proceeds from private equity-backed offerings on China’s Star Market are down 75% from their peak one year ago, reflecting ongoing regulatory interference and diminished investor confidence
Taiwan start-ups: Leaving the factory
Taiwan’s industrials-focused venture capital and start-up ecosystem has tilted noticeably toward consumer software in the past year. Nevertheless, the traditional heavyweights are indispensable
Deal focus: Orchestra delivers pizza to Seoul
Banolim has become Korea’s fourth-largest pizza delivery business largely on the back of savvy marketing and expansion in lower-tier cities. Orchestra Private Equity is supporting a rollout in Seoul
Deal focus: Icon retains its private equity appeal
EQT’s $1.67 billion acquisition of Icon Group underscores the recent trend in large-cap buyouts, as well as the long-term growth potential for cancer care specialists in Australia and the wider Asian region
Deal focus: Quiet confidence persists in hydrogen power
H3 Dynamics is bringing hydrogen-powered delivery drones to Asia’s crammed megacities as a steppingstone to a cleaner aviation sector. This is a sweet spot for Hong Kong’s Audacy Ventures
Key takeaways: Apollo Global Management’s Marc Rowan
High valuations, pursuing complexity, and eradicating write-offs were on the agenda when Marc Rowan, co-founder and CEO of Apollo Global Management, spoke at the AVCJ Forum. Here are some highlights
Investors see China regulatory turbulence as short-term - AVCJ Forum
Regulatory uncertainty overshadowing China's technology sector is a temporary phenomenon, investors told the AVCJ Private Equity & Venture Forum, while noting that targeting areas favored by the government remains a safe play.
Australia's Five V raises $398m for Fund IV
Five V Capital, a growth-oriented investor in Australia and New Zealand, has achieved a first and final close on its fourth fund with more than A$550 million ($398 million) in commitments.
Singapore BNPL player Pace gets $40m Series A
Singapore’s Pace Enterprise, a one-year-old start-up in the fast-growing buy-now-pay-later (BNPL) financial services niche, has raised a $40 million Series A round from a pan-Asian mix of VC firms.
Vision Fund adds managing partners in India, China
SoftBank Vision Fund has promoted Sumer Juneja, who heads up its India investments, and Dennis Chang, a China-focused partner, to managing partner level.
Warburg Pincus backs China new materials business
Ambilight, a China-based new materials company focused on electrochromic (EC) components, has raised several hundred million dollars in Series C funding led by Warburg Pincus.
India e-commerce industry financier raises $20m
Velocity, an Indian start-up that provides growth capital to e-commerce brands, has raised a $20 million Series A round led by Valar Ventures, a firm set up by PayPal co-founder Peter Thiel.
EQT buys Australia cancer care business from PE consortium
Goldman Sachs Asset Management, QIC, and Pagoda Investment – a China-focused GP set up by a former QIC executive – have agreed to sell Australia cancer care provider Icon Group to EQT for a reported valuation of A$2.3 billion ($1.67 billion).
Carlyle acquires Korean cafe operator, Anchor Equity exits
The Carlyle Group has acquired A Twosome Place, a Korea-based café operator with more than 1,400 stores nationwide, from Anchor Equity Partners.
PE-backed Paytm raises $2.5b in India's largest-ever IPO
Indian digital payments platform Paytm completed the country’s largest-ever IPO – raising INR183 billion ($2.47 billion) – but then saw its stock fall 27% on debut.
Airwallex adds $100m to Series E at $5.5b valuation
Hong Kong-based cross-border payments provider Airwallex has received a $100 million Series E extension led by Lone Pine Capital at a valuation of $5.5 billion.
Singapore's Leo Capital targets $125m for third VC fund
Singapore-based early-stage venture capital firm Leo Capital has launched its third fund focused on India and Southeast Asia with a target of $125 million.
Local turbulence drives China tech players abroad - AVCJ Forum
Regulatory uncertainty in China has encouraged local technology companies to go global rather than rely on a single market, the AVCJ Private Equity & Venture Forum heard.
Xiaomi invests $70m in China LiDAR specialist Hesai
Xiaomi Industrial Investment Fund, a vehicle controlled by smart devices brand Xiaomi, has invested $70 million in Hesai Technology, a China-based developer of sensors used in autonomous driving.
Australia's Allegro hits overall target with Fund IV first close
Allegro Funds, an Australia-based turnaround specialist, has reached a first close of A$600 million ($449 million) on its fourth fund, hitting the overall target for the vehicle.
MBK sells Japan's Accordia Golf to Fortress
MBK Partners has agreed to sell Japan-based golf course operator Accordia Golf, which it acquired in 2017 via a tender offer, to Fortress Investment Group.
Kejora, Sunway launch $25m Malaysia VC fund
Indonesia-based Kejora Capital and Malaysian conglomerate Sunway Group have established a $25 million VC fund focused on early-stage start-ups in Malaysia.