Region
Fund focus: Azalea embraces equity with fund-of-funds offering
Temasek Holdings-owned Azalea Asset Management previously used debt structures to give high net worth investors PE exposure. Its $650 million fund-of-funds is the firm’s first direct equity offering
Reliance buys majority stake in India's NowFloats
Indian conglomerate Reliance Industries has agreed to buy an 85% stake in local enterprise IT provider NowFloats for INR1.4 billion ($20 million). It positions several VCs to exit.
China's largest co-working player Ucommune files for US IPO
Ucommune, China’s largest co-working space player which is considered the local equivalent to troubled US operator WeWork, has filed for a US IPO.
Chinese drone maker EHang raises $40m in US IPO
Chinese drone manufacturer EHang traded flat on its NASDAQ debut following a $40 million IPO that priced at the bottom end of the indicative range.
Tiger Global leads round for Indian invoice discounting platform
Tiger Global Management has led a $26 million Series B round for Indian B2B financing platform provider KredX.
New Zealand impact fund backs sustainable packaging player
New Zealand’s Impact Enterprise Fund (IEF) has confirmed an investment in local sustainable packaging supplier Grounded.
Hong Kong's WeLab secures $156m Series C
WeLab, a Hong Kong financial technology start-up that abandoned plans for an IPO approximately 12 months ago, has raised $156 million in a new private funding round.
Macro uncertainty to drive increased Korean M&A
Difficult economic and political conditions bode well for the Korean PE industry in the near term, according to Michael Chung (pictured), head of Korea at Morgan Stanley Private Equity Asia (MSPEA).
Malaysia's Carsome raises $50m Series C
Japan’s Daiwa Securities and Mitsubishi UFJ Financial Group have joined a $50 million Series C round for Malaysian used car trading platform Carsome.
Tencent Literature leads round for Chinese interactive filmmaker
AltStory, a Chinese interactive movie and television content company, has raised approximately RMB100 million ($14 million) in Series A funding led by China Literature, a listed unit of Tencent Holdings.
3one4 closes India venture, seed funds
India’s 3one4 Capital has closed its latest venture capital fund with INR4 billion ($57 million) in commitments and raised INR450 million for seed investment vehicle.
General Atlantic promotes China healthcare head
Lefei Sun, who helped establish and now leads General Atlantic’s healthcare and life sciences business in China, has been promoted to managing director.
Taiwan technology: Homeward bound?
Taiwan is encouraging its industrial technology manufacturers to relocate operations from the mainland to the domestic market in response to China-US tensions. This may create openings for PE and VC investors
2019 in review: Falling short
Fundraising, investment and exits in Asia are unlikely to match last year as pan-regional funds take a back seat, large-cap buyouts remain in short supply, growth-stage tech loses its edge, and IPOs flounder
Chinese space launch provider get $71m Series C
Chinese commercial space launch service provider LandSpace has raised a RMB500 million ($71 million) Series C led by the VC arm of Hong Kong-listed property developer Country Garden.
Deal focus: EQT fulfills Laobaixing's prescription
EQT spent 11 years helping Chinese pharmacy chain Laobaixing evolve from large-format laggard into a focused and efficient operator that meets the needs of modern customers. It has now exited with a 7.7x return
Australia cybersecurity start-up receives $47.6m
Australia-based cybersecurity start-up Secure Code Warrior has secured a $47.6 million Series B round led by Goldman Sachs.
China-Australia biotech fund raises $31m
UniSA Ventures, a tech commercialization unit of the University of South Australia, has secured A$45 million ($31 million) from a group of Chinese investors for an Australia-focused biotechnology fund.
Chinese digital logistics player secures $14m Series A
Kalihulian - a China-based digital logistics platform that offers an Uber-style service for cargo freight - has raised RMB100 million ($14 million) in Series A funding led by Sino-Ocean Capital, an investment arm of property developer Sino-Ocean Group....
Singapore e-scooter start-up raises $18.5m
Neuron Mobility, a Singapore-based e-scooter company, has secured a $18.5 million Series A round led by Australia’s Square Peg Capital and US-based GSR Ventures.
Singapore's Vertex receives $180m for global fund-of-funds
Vertex Ventures, a VC arm of Singapore’s Temasek Holdings, has received commitments of $180 million from Japanese investors for a fund-of-funds that will support its global portfolio of VC vehicles.
Centurium seeks $2.5b for second China fund
China-focused private equity firm Centurium Capital is back in the market looking to raise $2.5 billion for its second US dollar-denominated fund, barely six months after reaching a final close on its first.
ClearVue joins $74 million round for China's Aibee
Chinese artificial intelligence (AI) start-up Aibee has raised RMB522 million ($74 million) in an extended Series A round led by ClearVue Partners and technology-focused Singularity Power Capital (SPC).
Apis closes Fund II at revised hard cap of $563m
Apis Partners has closed its second emerging markets-focused financial services and technology fund at the revised hard cap of $563 million. The initial target was $400 million.