Regions
Deal focus: A digital protector for the cloud era
Inspired by the Korean word for tiger and how it symbolizes protection, cybersecurity start-up Horangi wants to ensure Southeast Asia’s growing pack of digital cubs are well-guarded
China's Luckin Coffee reveals $310m in fabricated sales
Luckin Coffee, a PE-backed Chinese coffee shop chain that went public in the US last year, has admitted that RMB2.2 billion ($310 million) worth of sales booked in 2019 were fabricated.
China AI player 4Paradigm closes $230m Series C
4Paradigm, a Chinese artificial intelligence (AI) start-up, has raised about $80 million in an extended Series C round, bringing its valuation to more than $2 billion.
CVC closes fifth Asia fund at $4.5b
CVC Capital Partners has closed its fifth Asia fund at the hard cap of $4.5 billion. The firm said the step up from $3.5 billion for Fund IV reflects an expansion in its regional investment capabilities.
L Catterton backs Japan cosmetics brand Etvos
Consumer-focused private equity firm L Catterton Asia has confirmed a significant investment of undisclosed size in Japanese cosmetics brand Etvos.
Ocean Link seeks $7b privatization of China's 58.com
Ocean Link, a Chinese private equity firm that targets travel, tourism and related consumer subsectors, has made a take-private offer for online classifieds marketplace 58.com that values the business at approximately $7 billion.
Blackstone increases stake in India’s Mphasis
The Blackstone Group has purchased shares worth INR51.7 billion ($67.9 million) to increase its stake in Indian IT services provider Mphasis by 4.01% to 56.21%.
VC-backed Chinese AR start-up raises $26m in US IPO
WiMi Hologram Cloud, a PE-backed Chinese augmented reality (AR) technology developer, traded flat on its opening day on NASDAQ following a $26.1 million IPO.
Jumpstarted: Investors target China's EV charging networks
Telaidian’s recent Series A round underlines the opportunities in China’s electric vehicle charging space. While growth seems certain, some industry dynamics have yet to play out
China's Haier raises $134m for industrial internet platform
COSMOPlat, an industrial internet platform developed by Chinese home appliance giant Haier Group, has raised RMB950 million ($134 million) in Series A funding led by the state-owned China Structural Reform Fund.
LeapFrog leads $55m round for India's MedGenome
MedGenome, an India-focused provider of genetic testing solutions, has raised $55 million in a funding round led by LeapFrog Investments.
Openspace co-leads $17m round for Indonesia's TaniHub
TaniHub, an online marketplace for farm products in Indonesia, has raised more than $17 million in a funding round led by Openspace Ventures and Intudo Ventures.
China's Gaocheng secures $300m for debut US dollar fund
Gaocheng Capital, a China-focused private equity firm established in 2018 following a spin-out from Hillhouse Capital, has closed its first US dollar-denominated fund with $300 million in commitments.
Japan's GPIF names ex-Goldman executive as CIO
Eiji Ueda, formerly co-head of securities for Goldman Sachs in Asia Pacific, has replaced Hiromichi Mizuno as CIO of Japan’s Government Pension Investment Fund (GPIF).
TNB Aura launches COVID-19 special situations fund
Singapore VC firm TNB Aura has launched an open-ended special situations fund that will support early-stage start-ups under financial pressure related to COVID-19.
KKR hires BAML executive in Japan
KKR has recruited Hidekazu Harada, previously co-head of Japan investment banking at Bank of America Merrill Lynch (BAML), as a managing director for its private equity team in Tokyo.
Portfolio: Capital Square Partners and Aegis/StarTek
Capital Square Partners’ acquisition of Indian business processing outsourcing (BPO) player Aegis ultimately helped two different companies find global relevance after a turbulent and disruptive decade
Indian fintech Juspay raises $21m Series B
Juspay, a developer of mobile payment solutions for online businesses, has raised $21.6 million in a Series B round led by Vostok Emerging Finance, a Swedish investment firm.
Japan mobile banking player gets $45m Series C
Kyash, a Tokyo-based mobile banking start-up, has received $45 million in Series C funding led by Greenspring Associates and Goodwater Capital.
Square Peg joins Series B for Singapore's Doctor Anywhere
Australian VC firm Square Peg Capital has joined a $27 million Series B round for Singapore-based healthcare technology provider Doctor Anywhere.
Hillhouse leads $1b round for China’s Yuanfudao
Chinese online education start-up Yuanfudao has seen its valuation soar to $7.8 billion on closing a $1 billion funding round led by Hillhouse Capital.
Ashurst hires Danny Tan as Asia investment funds head
Ashurst has recruited Danny Tan from Allen & Gledhill to lead its investment funds practice in Asia Pacific. He will continue to be based in Singapore.
Fund focus: Carlyle stokes Japan bullishness
Expecting to see a surge in deal flow driven by divestments and succession planning situations, The Carlyle Group has bulked up to $2.3 billion for its latest Japan fund
China LP defaults: Battle of wills
A protracted legal dispute between a cross-border private equity firm and a Chinese investor is a reminder of the difficulties that can arise over fund defaults. Negotiation is always the preferred course of action