Region
Chinese grocery player Miss Fresh sells shares at $31m valuation
Chinese online grocery delivery platform Miss Fresh has agreed to sell an 88.1% stake to a third-party investor at a valuation of approximately USD 31m – one-tenth of the company’s market capitalisation when it listed in June 2021.
Longreach targets $800m for Japan, Greater China mandate
The Longreach Group is looking to raise USD 800m for its fourth fund, which will continue the firm’s existing strategy of mid-market control deals in North Asia with an emphasis on Japan.
India's Pi Ventures closes second fund with $85m
India’s Pi Ventures, an artificial intelligence (AI) and deep tech specialist, has closed its second fund with INR 7bn (USD 85m) in commitments.
Japan's Miyako targets $140m for third VC fund
Japan’s Miyako Capital, an independent VC firm affiliated with Kyoto University, has launched its third deep tech fund with a target of JPY 20bn (USD 140.2m).
Bain set for $630m buyout of Australia's Estia Health
Bain Capital has won board approval to acquire Australia-listed aged care provider Estia Health through a scheme of implementation that gives the business an enterprise value of approximately AUD 959m (USD 630m).
Australia's Future Fund appoints new CIO
Australia’s Future Fund has promoted Ben Samild to CIO, filling a vacancy created more than a year ago with the departure of Sue Brake.
PE-owned Japanese drug maker seeks bankruptcy protection
Kyowa Pharmaceutical Industry, a Japanese generic drug manufacturer owned by Unison Capital, has applied for alternative dispute resolution, an out-of-court process that allows companies to continue operations while negotiating with creditors on a restructuring....
L Catterton exits Australia's Seafolly
L Catterton Asia has sold Australian swimwear brand Seafolly to an unidentified Asian strategic buyer in a deal that values the company at AUD 70m (USD 46m).
MBK launches sixth North Asia fund, targets $7b
North Asia-focused buyout firm MBK Partners has set a target of USD 7bn for its sixth flagship fund, according to three sources familiar with the situation.
Australia's Five V opens New Zealand office
Australia’s Five V Capital, which is active across growth, buyouts, and venture, has launched a New Zealand office and confirmed three hires for the country team.
Hong Kong's Micro Connect raises $458m Series C
Hong Kong’s Micro Connect, a financier for micro, small, and medium-sized enterprises (MSMEs), has raised USD 458m in Series C funding. It did not name the investors.
5Y seeks $700m for latest China VC fund
China-focused 5Y Capital has set a target of USD 700m for its latest venture capital fund – in line with what the manager raised in the previous vintage.
KKR buys India pallet pooling business
KKR has paid an undisclosed sum for a majority stake in Leap India, a supply chain services provider focused on cost reduction through pallet pooling. It sets up exits for several PE investors.
CVC hires India partner from Apollo
CVC Capital Partners has recruited Nikhil Gahrotra, an India-based partner at Apollo Global Management, to its private equity team.
Korea's UCK Partners surpasses $770m on Fund III
UCK Partners, a South Korean private equity firm formerly known as Unison Capital Korea, has accumulated approximately KRW 1trn (USD 777m) across two incremental closes on its third fund.
Japan's I-Grid Solutions raises $21m
Japan’s The Fund, a joint venture between Mizuho Capital and VC firm Signifiant, has invested JPY 30bn (USD 21m) in local corporate energy management advisor I-Grid Solutions.
PE-backed Adlai Nortye pursues US listing
Adlai Nortye, a private equity-backed Chinese cancer drug developer that previously filed to list in Hong Kong, is now targeting an IPO in the US.
FMO invests $24m in Suminter India Organics
Netherlands-based development finance institution FMO has agreed to invest USD 24.3m in Suminter India Organics, a company that helps farmers grow and process organic foods with ethical practices.
Singapore's Nium raises capital at $2b valuation
Singapore-based payments technology provider Nium claims to have doubled its valuation in the past 24 months to USD 2bn with new investors such as US-based Bond and Moore Capital joining the capital table.
Deal focus: Topolefin finds favour as import substitution play
China-based Topolefin has gained traction thanks to breakthroughs in polymer science and the willingness of local medical equipment makers to use its components in foreign-dominated supply chains
Deal focus: Change at the margins for Proterra Asia
Proterra Asia has been investing in food and agriculture across the region for 13 years. This will continue, regardless of tweaks in management entity ownership and fund structure
Profile: Mekong Capital's Chad Ovel
An outdoorsman with a passion for mountaineering and a background in sustainable forestry, Chad Ovel found a good fit in Mekong Capital’s strategy targeting the frontier of Vietnam’s consumer markets
Q&A: The Longreach Group's Mark Chiba
Mark Chiba, group chairman of North Asia-focused The Longreach Group, on deal flow in Japan’s middle market, pursuing platform acquisitions, the rise of digitalisation, and the complexities of take-privates