Region
China's Didi targeted by regulators within days of bumper US IPO
Didi completed the largest PE-backed IPO in the US in seven years by a Chinese company, but its stock was pegged back within days of launch after the country's internet regulator moved against the ride-hailing platform.
Carlyle leads restructuring of Trans Maldivian Airways
The Carlyle Group’s credit platform has led a restructuring of Trans Maldivian Airways (TMA), a Bain Capital-owned seaplane operator whose fortunes are tied to those of the Maldives tourism industry.
Quadria backs India drug maker Encube Ethicals
A consortium led by healthcare-focused Quadria Capital has invested in Indian topical drugs maker Encube Ethicals, facilitating an exit for Multiples Alternate Asset Management.
Velocity hits first close on Southeast Asia travel fund
Velocity Ventures, a Singapore-based VC firm focused on travel and hospitality, has reached a first close on its debut fund. Commitments stand at 40% of the $20 million target.
Eight Roads launches $400m China healthcare fund
Fidelity-backed Eight Roads has launched a China healthcare fund with a corpus of $400 million, which will invest across the industry value chain and in areas related to critical diseases.
HutchMed soars on debut after $536m Hong Kong offering
HutchMed – formerly Hutchison China MediTech – saw its share price jump 50% on debut after raising HK$4.17 billion ($536.9 million) through a Hong Kong share offering.
Investcorp backs Hong Kong's Heritage Foods
Investcorp has made an investment of undisclosed size in Hong Kong-based Heritage Foods, which has a portfolio of condiment and sauce brands in Singapore, Malaysia, and Japan.
China's ZWC Partners raises $770m
Chinese venture capital firm ZWC Partners has closed its second US dollar-denominated fund at around $770 million, beating a target of $450 million.
India auto software provider LocoNav raises $37m
LocoNav, an Indian vehicle fleet software provider, has raised $37 million in Series B funding from a group of investors including Sequoia Capital India.
Taiwan's Hive Ventures closes debut fund at $13.5m
Taiwan’s Hive Ventures has closed its debut seed fund with $13.5 million in commitments. It will invest locally and globally with a focus on artificial intelligence (AI).
NewQuest buys Cosmos-Maya from KKR's Emerald Media
Direct secondaries specialist NewQuest Capital has acquired Indian animation studio Cosmos-Maya from Emerald Media, an Asian media platform backed by KKR.
PE & gambling: Ante up
Private equity has exhibited consistent appetite for gambling-related assets amid pandemic-fueled uncertainty. Regulation remains a significant wildcard in Asia. Reputational risk, not so much
Profile: BRI Ventures' Nicko Widjaja
First at MDI Ventures and now at BRI Ventures, Nicko Widjaja has established himself as a pioneer of corporate venture capital in Indonesia. The journey has been long and sometimes bumpy
Deal focus: Carro prioritizes car financing as ecosystem enabler
Southeast Asia’s Carro has achieved critical mass as a used car trading platform, but the start-up regards financial services as the key growth area. It is now backed by SoftBank Vision Fund’s considerable heft
Deal focus: TR Capital doubles down on China tech
Secondaries specialist TR Capital has established a base in Shenzhen with a view to sourcing more deals in China’s red-hot technology sector. Online used car trading platform Bochewang is the latest example
China: A controversial ESOP
An employee stock ownership plan introduced alongside Hillhouse Capital’s 2019 investment in Gree Electric Appliances has raised questions about enrichment and alignment
China industrial robotics start-up raises $61m
Youshan Capital and China Merchants Capital have led a RMB395 million ($61 million) Series B round for Han's Robot, a China-based manufacturer of industrial robots.
Investcorp leads Series D for China healthcare SaaS player
Linkedcare, a software-as-a-service (SaaS) and supply chain provider to China's healthcare sector, has closed a Series D funding round. Including an earlier Series C extension, the company claims to have raised $100 million in the past six months.
India's Orios raises $30m top-up fund
India-based early-stage investor Orios Venture Partners has raised $30 million for a top-up fund that will mainly participate in follow-on rounds for select existing portfolio companies.
Philippines-based fintech player Voyager raises $167m
Voyager Innovations, a Philippines financial technology company, has raised $167 million in funding from new and existing investors that will support the development of its PayMaya payments service.
Ex-CPPIB CEO joins board of Singapore investment firm
Mark Machin, formerly CEO of Canada Pension Plan Investment Board (CPPIB), has agreed to join Serendipity Capital, a Singapore-based investor specializing in financial services, as a non-executive director.
China's Miss Fresh raises $273m in US IPO, drops on debut
Chinese online grocery delivery platform Miss Fresh raised $273 million through its US IPO, but the company endured a difficult debut and continues to trade well below the offering price.
Hong Kong industrial AI start-up raises $200m
SmartMore, a Hong Kong-headquartered artificial intelligence (AI) and computer vision start-up, has achieved unicorn status after raising $200 million in Series B funding.