Region
Korea e-sports player DRX secures $22.5m
Korean e-sports organization DRX has raised $10 million from a group of local investors. It coincides with a separate $12.5 million commitment from e-sports specialist ATU Partners.
Sequoia leads Series B for Chinese intelligent sales player
Tungee, a Chinese sales-focused software-as-a-service (SaaS) platform, has raised RMB120 million ($17 million) in a Series B round led by Sequoia Capital China. Qiming Venture Partners also took part.
China's TuSimple wins backing from US truck maker
TuSimple, a China and US-based developer of autonomous driving technology for trucks, has received equity funding from US truck manufacturer Navistar International and entered into a partnership with the company.
DCP, Qiming support China medical devices fund
Ascendum Capital Partners, a healthcare investment firm established by DCP Capital, Qiming Venture Partners and Chinese medical devices manufacturer Venus Medtech, is looking to raise $200 million for its debut fund.
Southeast Asia macro: Encouraging minefield
Southeast Asia benefits from an enviable macro outlook versus other markets, and investment in the region is set to recover relatively quickly. But is that enough?
Asia VC: Vertex's evolving early-stage network
Vertex Holdings’ Chua Kee-Lock likens his network of VC funds seeded by the Temasek-owned entity as a distributed computer system. It will draw down more power as it grows
Walmart leads $1.2b round for India's Flipkart
Walmart has led a $1.2 billion funding round for Flipkart, the Indian e-commerce business in which it acquired a majority stake at a valuation of $24 billion in 2018.
Wavemaker closes third Southeast Asia fund at $111m
Wavemaker Partners has closed its third Southeast Asia venture capital fund with $111 million in commitments. The target was $100 million.
PE-backed Junshi Biosciences shines on Star Market debut
PE-backed Junshi Biosciences has become the first Chinese biotech company to list in Hong Kong and the mainland, following a strong debut on Shanghai's Star Market.
Google joins Facebook on Jio Platforms investor roster
Google has agreed to invest INR337.3 billion ($4.5 billion) in India’s Jio Platforms and outlined plans to build a low-cost smart phone aimed at the mass-market.
Australia: Retail realities
Not all bankruptcies can be blamed solely on COVID-19; neither is private equity ownership necessarily bad news for retailers. As recent experiences in Australia demonstrate, evolution and execution are key
2Q analysis: Numbers that deceive
Asia has seen remarkable revivals in private equity investment and fundraising – though not in exits – over the past three months. A handful of large-cap situations mask a weak environment
Chinese biotech company Arctic Vision raises $32m
China-based ophthalmology therapy provider Arctic Vision has raised a $32 million Series A round led by Morningside Ventures.
KKR backs Australia environment services player
KKR has made an investment of undisclosed size in GreenCollar, an environmental services provider that helped establish Australia’s carbon credit market.
India's Unacademy moves to form edtech group
Indian online education platform Unacademy has acquired a majority stake in industry peer Mastree. It is the company's second acquisition in recent weeks, suggesting a consolidation strategy within the space.
Luckin's chairman, PE backers removed from board
The chairman and largest shareholder in scandal-hit Chinese coffee shop chain Luckin Coffee has been removed at the second attempt. Representatives of several of the company’s private equity backers have also left the board.
Hong Kong vs Singapore: Onshore overtures
Hong Kong and Singapore both position themselves as the headquarters of choice for private equity firms in Asia. But the competitive dynamics – from politics to structures – are not straightforward
Q&A: Navegar's Honorio Poblador
Honorio Poblador, co-founder at Philippines-based Navegar, explains how his firm is positioning its second fund – newly closed at $197 million – in the face of the COVID-19 downturn
China cancer test kit provider gets $30m Series E
New Horizon Health, a China-based manufacturer of cancer testing kits for use at home, has raised $30 million in a Series E round of funding led by Rock Springs Capital.
China's Yingke PE raises $286m
Shanghai-based Yingke Private Equity has closed its latest renminbi-denominated fund with commitments of RMB2 billion ($286 million), primarily from insurers and other financial institutions.
Google commits $10b for India digitization effort
Google will launch a INR750 billion ($10 billion) fund to make equity, operational, infrastructure and ecosystem investments that seek to increase the pace of digitization in India.
Large-cap vehicles support PE fundraising revival in second quarter
Asia private equity fundraising rebounded from a seven-year low in the first quarter of the year to reach $24 billion for April through June, but commitments were concentrated on a handful of managers.
Ocumension climbs on debut after $184m Hong Kong IPO
Ocumension Therapeutics, a Chinese drug developer targeting eye diseases that counts Boyu Capital and Temasek Holdings among its backers, posted a 152% gain on debut following a HK$1.5 billion ($200 million) Hong Kong IPO.
Quan leads $80m Series A for China biotech player
Healthcare-focused VC firm Quan Capital has led an $80 million Series A round for Citrine Medicine, a Chinese biotech developer set up by Eight Roads, F-Prime Capital, and Vivo Capital.