Regions
Activist target Japan Asia Group agrees asset sale to Carlyle
Japan Asia Group (JAG) has revived plans to sell stakes in two key subsidiaries to The Carlyle Group, six months after a similar transaction was abandoned in the face of opposition from activist investors. The deal is worth JPY58.5 billion ($534 million).
Coller spins out credit fund interests from Ping An subsidiary
A Coller Capital-led consortium has acquired interests in four global credit funds – worth a combined $680 million – from China Ping An Insurance’s overseas investment platform.
China autonomous driving start-up Inceptio raises $270m
Inceptio, a Chinese autonomous driving technology provider focusing on line-haul trucking, has raised a $270 million Series B round led by JD Logistics, Meituan, and PAG.
Tiger Global leads $125m Series D for India's Infra.market
Tiger Global Management has led a $125 million Series D round for Indian construction marketplace Infra.market at a valuation of $2.5 billion. The same investor led a $100 million Series C in February at a valuation of $1 billion.
Openspace hits $120m first close on SE Asia growth fund
Southeast Asia-focused Openspace Ventures has reached a first close of $120 million on its debut growth fund, which will primarily participate in follow-on rounds for existing portfolio companies.
Southeast Asia's FinAccel agrees $2b SPAC merger
FinAccel, operator of Indonesia-focused consumer credit platform Kredivo, has agreed to merge with a US-listed special purpose acquisition company (SPAC) at an enterprise valuation of $2 billion.
Deal focus: ShareChat makes hay in TikTok’s absence
The Indian social networking platform has seen its valuation grow more than fourfold in the past year, helped in no small part by the rise of short video offering Moj as an alternative to TikTok
Deal focus: Chiratae sees 43x return on gaming start-up
India’s Chiratae Ventures has realized its largest-ever exit in terms of multiple with a zero-to-one leap of faith for local gaming studio PlaySimple
Deal focus: MyGlamm leverages brand awareness
The Indian direct-to-consumer beauty brand claims to stand out from the competition thanks to broad product coverage and a content-driven customer acquisition engine. Its Series C investors appear to agree
Southeast Asia fundraising: Indecision time
Southeast Asian GPs jockey for global attention with mixed results as the largest LPs continue to hesitate to commit to the region. A trickle of investment fuels theories about how to get more
Profile: E15 VC’s Philip Liang
From social networking for dogs to surgical robotics, Philip Liang’s career as an entrepreneur and investor has been rich and varied. He welcomes the barrage of ideas filling his inbox at Hong Kong-based E15 VC
China's Vitalbridge reaches $200m first close on Fund II
Vitalbridge Capital, a China-based venture capital firm that spun out from Trustbridge Partners, has achieved a first close of $200 million on its second US dollar-denominated fund.
Asia digital assets platform Matrixport hits $1b valuation
Matrixport, a two-year-old crypto financial services platform based in Singapore, has closed a $100 million Series C round at a valuation of $1 billion.
GA, Dragoneer lead $250m Series B for Vietnam's VNLife
General Atlantic and Dragoneer Investment Group have led a $250 million Series B round for Vietnamese financial technology provider VNLife.
Ofbusiness becomes India's 18th unicorn of 2021
SoftBank Vision Fund 2 has led $160 million Series E funding round for OfBusiness, an India-based B2B platform focused on industrial supply chain and procurement services, at a valuation of $1.5 billion.
India education platform Unacademy raises $440m
India-based education platform Unacademy has closed a $440 million funding round – at a valuation of $3.44 billion – led by Temasek Holdings.
EQT pursues $2.2b Australia software take-private
Iress, an Australia-listed software developer that serves the financial services sector, has invited EQT to conduct further due diligence following receipt of a take-private offer worth up to A$3 billion ($2.2 billion).
CMC invests $93m in China liquor brand
Forty-Nine Union, a Chinese liquor brand, has raised a Series B round of RMB600 million ($93 million) from CMC Capital Group. There were no other participants in the round.
PAG raises $525m for second China growth fund
PAG has closed its second growth fund, which makes middle-market investments – predominantly in China – that fall below the minimum check size for its pan-Asian vehicle at $525 million.
India crypto platform raises $25m Series A
Indian cryptocurrency borrowing and lending platform Vauld has raised a $25 million Series A round led by Valar Ventures, a firm co-founded by PayPal co-founder Peter Thiel.
Navis raises $900m for Fund VIII, closes Fund VI continuation
Navis Capital Partners has closed its eighth regional fund at $900 million, while also securing $450 million for a continuation vehicle that features five companies from its sixth fund.
Sequoia China leads $100m Series B for Bota Biosciences
Sequoia Capital China had led a $100 million Series B round for Bota Biosciences, a China-based biotech company that has developed a next-generation platform for manufacturing high-performing industrial compounds.
TDM, Sequoia lead Series F for Australia's Culture Amp
Culture Amp, an Australia-headquartered enterprise technology provider specializing in human resources (HR), has $100 million in Series F funding at a valuation of $1.5 billion.