Region
TA closes latest global fund at $16.5b hard cap
TA Associates, a global growth-oriented investor with an Asia portfolio that is relatively heavy on India and Australia, has closed its 15th fund at the hard cap of USD 16.5bn after seven months in the market.
China chassis component supplier raises $279m
Hopu Investments has participated in a CNY 2bn (USD 279m) Series A round for Jingxi Zhixing Zhangjiakou Automotive Electronics, a China-based supplier of components used in car chassis.
Peak XV secures $76m exit from India's Go Fashion
Sequoia Capital India marked achieving full independence and rebranding as Peak XV Partners with a INR 6.2bn (USD 72.1m) exit from women’s clothing retailer Go Fashion.
Australia battery technology supplier raises $15m
Australian VC firm Artesian, Canadian GP Waratah Capital, and India's Himadri Speciality Chemical have co-led a AUD 22m (USD 15m) Series A round for Australia’s Sicona Battery Technologies.
Philippines VC firm Kaya raises $12m across two funds
Philippines-based VC investor and venture studio Kaya Founders has achieved a first close of USD 12m across two early-stage funds. The target - for both vehicles - is USD 25m.
Japan's LayerX lifts Series A to $59m
Japan’s LayerX, an enterprise billing and invoicing software provider, has lifted an ongoing Series A round to JPY 8.2bn (USD 59m) with support from several local VC firms.
China distributed power specialist PCG Power raises 70m
PCG Power, a Chinese energy management services provider incubated by property developers China Poly Group and Country Garden, has raised CNY 500m (USD 69.9m) in Series A funding.
Next agrees take-private for Australian accommodation manager
Next Capital has agreed to acquire Australia-based holiday accommodation manager Alloggio Group for a valuation of AUD 48.2m (USD 32.7m) after cutting the offer price by 20%.
Proparco makes $35m LP commitment to Quadria healthcare fund – update
French development finance institution (DFI) Proparco has made a USD 35m fund commitment to Singapore’s Quadria Capital, a healthcare-focused GP active across South and Southeast Asia.
China's Oceanpine to go heavy on green-tech in Fund III
China-focused Oceanpine Capital plans to deploy over half of its third US dollar-denominated fund – which it is currently preparing to launch with a target of USD 600m – in green-tech investments.
GP profile: 500 Global
500 Global’s emergence as a preeminent seed investor in Southeast Asia has played out against the backdrop of a broader transformation from US accelerator into international multi-stage venture capital firm
Start-up banking: Filling an SVB-shaped hole
Silicon Valley Bank was arguably the only institution globally to comprehensively service the unique banking needs of start-ups. In its absence, a mix of players are rising to the challenge
Deal focus: Serving coffee at scale in China
M Stand has added another twist to China’s coffee chain growth story, rooting its value proposition in offline experience and leveraging online capabilities to achieve speed and efficiency
ICG joins $250m round for Amp Energy India
Intermediate Capital Group (ICG) has joined a USD 250m investment in Amp Energy India, a renewable power platform serving various industrial and utility segments.
China electronics materials supplier raises $70m
China’s Fuyang Sineva Material Technology, a specialist in light-sensitive polymers called photoresists, has raised about CNY 500m (USD 70m) in Series D funding led by Peak View Capital.
CDH, Oriza-backed CSI Solar enjoys strong Star Market debut
CSI Solar, a Chinese renewables business backed by CDH Investments and Oriza Holdings, increased 18% in value on its first day of trading following a CNY 6bn (USD 840m) IPO.
Australia's Wesfarmers buys VC-backed Instascripts for $91m
InstantScripts, an Australia-based telehealth business backed by listed VC firm Bailador Technology Investments, has agreed to be acquired by Wesfarmers for approximately AUD 135m (USD 91m).
India's Lok seeks $200m for Fund IV, gets AIIB support
Indian impact investor Lok Capital has secured USD 25m from Asian Infrastructure Investment Bank (AIIB) for its fourth private equity fund. The target is USD 200m.
Bain buys Indian industrial chemicals business
Bain Capital has acquired India’s Porus Labs, a manufacturer of agricultural and speciality chemicals, including pharmaceutical industry ingredients.
Deal focus: Allegro reheats the pie
Allegro Funds has exited Pizza Hut Australia to a US trade buyer, having won over a franchisee network that had turned on Yum Brands, upgraded the digital offering, and doubled network sales
Hahn launches tender offer for Korean medical devices player
Hahn & Company has launched a KRW 957bn (USD 735.9m) tender offer for listed Korean medical devices manufacturer Lutronic, working in conjunction with the company’s founder and CEO.
LPs eye secondaries to meet liquidity, rebalancing needs - Coller
Generating liquidity and rebalancing portfolios are the overwhelming priorities for LPs looking to sell in the secondaries market in the next two years, according to Coller Capital’s latest private equity barometer survey.
Bain seeks delisting of Chindata within three years of listing
Bain Capital has submitted a USD 2.9bn take-private bid for Chindata Group, a largely China-focused data centre operator that it assembled through a buy-and-build and took public in October 2020.