Region
Cathay launches $239m China smart energy fund
Cathay Capital Private Equity has launched a fund with a targeted corpus of RMB1.5 billion ($239 million) for investment in emerging technologies and business models in the Chinese energy sector.
Bain, Piramal target $1b for India distress fund
Bain Capital Credit and Piramal Enterprises have set a target of $1 billion for their joint venture focused on Indian distressed assets.
Victory Park, IFC launch emerging markets fintech fund
The International Finance Corporation (IFC) has committed $25 million to a fund that it will co-manage with US-based Victory Park Capital. The fund will improve access to debt capital for financial technology companies in emerging markets, including Asia....
China unicorn total surpasses 160
China had 164 unicorns worth a collective $628.4 billion at the end of last year, a government report stated, as the prospect of A-share listings by domestic internet companies was once again raised.
IMM secures 2x return on Korea pharma investments
IMM Private Equity has fully exited its investments in Korean pharmaceutical developers Handok and Genexine.
China B2B consumer goods distribution platform raises $33m
Zskuaixiao, a China-based business-to-business (B2B) consumer goods distributing platform, has completed a RMB205 million ($33 million) Series B round led by warehouse operator Global Logistics Properties (GLP) and Longzhu Capital – a corporate investment...
Australia virtual data room provider gets $18.5m
Australia’s Ellerston Capital has led a A$24 million ($18.5 million) Series A round for Ansarada, a domestic business services company that provides virtual data rooms and artificial intelligence-enabled due diligence.
Yunfeng, Alibaba agree $1.4b iKang take-private
The protracted pursuit of Chinese healthcare services provider iKang Healthcare Group appears to have ended, with Yunfeng Capital and Alibaba Group agreeing to buy the business at a valuation of around $1.4 billion.
Australia's Five V agrees marketing carve-out
Five V Capital, an Australian GP established by Adrian MacKenzie, formerly a managing partner at CVC Capital Partners, has agreed to buy the contact center business of market services company Salmat for A$53 million ($41 million).
Ex-Warburg Pincus China head targets $1b fund
David Li, the former head of China at Warburg Pincus, has established his own private equity firm – known as Centurium Capital – and is seeking to raise $1 billion for a debut China fund.
PE-backed Sunlands completes $149m US IPO
Private equity-backed Sunlands Online Education ended its first day of trading on the New York Stock Exchange marginally below its IPO price following a $149.5 million offering.
India's Lighthouse reaches $150m first close on Fund III
Lighthouse Funds has reached a first close of $150 million on its third India-focused growth capital fund.
Hitachi backs Japan-US cross-border GP
Hitachi has agreed to invest an undisclosed sum in a Japan-US cross-border venture capital fund managed by Geodesic Capital that will focus on social problem solving through technology.
China's VC-backed 51 Credit Card files for HK IPO
Chinese online credit card management platform 51 Credit Card, which is backed by a handful of VC and strategic investors, has filed for a Hong Kong IPO.
PE-backed Grab to buy Uber's Southeast Asia operation
Grab, a private equity-backed ride-hailing platform headquartered in Singapore, has agreed to acquire the Southeast Asia operations of global rival Uber. It follows a similar arrangement struck two years ago between Didi Chuxing and Uber in China.
KKR media platform invests $80m in Singapore's GSC
Emerald Media, a pan-Asian media and entertainment platform backed by KKR, has invested $80 million in Global Sports Commerce (GSC), a Singapore-based sports technology and management business that has worked with groups such as the English Premier League...
Providence to exit Indonesia telecom tower business
Providence Equity Partners is set to exit its last investment in Asia outside of India after Profesional Telekomunikasi Indonesia (Protelindo) agreed to buy Indonesian telecom tower platform Komet Infra Nusantara (KIN) for IDR1.4 trillion ($101 million)....
China's CHJ Automotive raises $474m Series B
Chinese electric vehicle maker CHJ Automotive has completed a RMB3 billion ($474 million) Series B round led by Matrix Partners China and Shougang Fund, an investment firm backed by state-owned steel producer Shougang Corporation.
Naspers pares stake in China's Tencent
Naspers has sold a small portion of its stake in Tencent Holdings – the Chinese internet giant in which it acquired an approximately one-third stake for $32 million 16 years ago – for HK$76.9 billion ($9.8 billion).
Shunwei leads $25m Series B for US, China-based ScaleFlux
Shunwei Capital has led a $25 million Series B round for ScaleFlux, a hardware firm based in the US and China.
Sinar Mas, East Ventures, Yahoo Japan form SE Asia fund
Indonesian conglomerate Sinar Mas Group, Singapore’s East Ventures and Yahoo Japan have teamed up to launch a $150 million venture capital fund targeting technology-enabled companies in Southeast Asia.
Brookfield, GLP launch China rooftop solar venture
Brookfield Asset Management and Singapore-based warehouse operator GLP have formed a joint venture aimed at enabling construction of rooftop solar projects in China.
VIDEO: The Carlyle Group's Daniel D'Aniello
Daniel D'Aniello, co-founder and chairman emeritus of The Carlyle Group, discusses the evolution of private equity
Hong Kong pledges to foster local start-up ecosystem
Hong Kong plans to increase funding to two local incubation programs – Cyberport and Hong Kong Science & Technology Park (HKSTP) – in the expectation they will play a leading role in the drive to turn the territory into an innovation hub.