Regions
ADK management offers support to Bain buyout bid
Japan-based advertising agency Asatsu-DK (ADK) has expressed its support for Bain Capital Private Equity’s proposed JPY151 billion ($1.3 billion) buyout, against opposition from its largest shareholder, WPP Group.
US-based VC to invest $20m in Pakistan technology fund
US-based 1839 Ventures has agreed to invest $20 million in a fund launched by the Pakistan government that will invest in domestic technology start-ups.
Amicus invests $9.3m in India's RenewBuy
Amicus Capital Partners has made its maiden investment, committing INR600 million ($9.3 million) to Indian online insurance aggregator RenewBuy.
Hillhouse leads $46m round for China O2O fitness platform
Lefit, a China-based online-to-offline (O2O) fitness platform, has raised a RMB300 million ($46 million) Series C round of funding led by Hillhouse Capital.
Wavemaker closes second SE Asia VC fund at $66m
US and Singapore-based venture capital investor Wavemaker Partners has raised $66 million for its second Southeast Asia-focused fund. The target was $50 million.
PE must 'play to win' in Japan carve-outs - Bain & Co
Japan private equity investment is on course for a record year on the back of increased divestment activity, but GPs must fine-tune their strategies to prevail in a highly competitive auction processes, according to Bain & Company.
True North, IDG in $77m round for India's Policybazaar
Indian online financial services portal Policybazaar has raised INR5 billion ($77 million) from a group of investors led by True North, IDG Venture Partners, and US-based Wellington Management.
Ex-Headland partner joins China growth investor CRE Alliance
William Shen, formerly head of Greater China at Headland Capital Partners, has become CEO of CRE Alliance, a private equity joint venture between China Resources Enterprise (CRE) and Great Wall Asset Management.
Gaja leads $15m round for India's Kinara
Gaja Capital Partners has led a INR960 million ($14.8 million) funding round for Indian non-banking finance company (NBFC) Kinara Capital.
Blue Ocean Capital exits China Cord Blood
China-focused PE firm Blue Ocean Capital has exited US-listed China Cord Blood Corporation (CCBC), by selling its beneficial interest in the blood bank operator to a fund sponsored by Chinese conglomerate Sanpower Group.
Philippines fintech growth to include blockchain – AVCJ Forum
The Philippines is likely to follow the lead of other Asian markets by more closely regulating blockchain-based financial transactions as the technology becomes more integral to the country’s economy.
Hong Kong AI fintech start-up MioTech gets $7m Series A
Horizons Ventures, a private investment arm of Hong Kong billionaire Li Ka-shing, has led a $7 million Series A round of funding for MioTech, a Hong Kong-based start-up that develops artificial intelligence (AI) software for the financial services sector.
TPG exits Myanmar Distillery
TPG Capital has sold its stake in Myanmar Distillery Company (MDC), the producer of Grand Royal Whisky, as a Thailand-based strategic acquired a majority interest in the business.
CPPIB commits $500m to Singapore-based ADCF
Canada Pension Plan Investment Board (CPPIB) has committed up to $500 million to Alpha Data Centre Fund (ADCF), a data center-focused PE fund managed by Singapore conglomerate Keppel Group.
Ola confirms Tencent investment, targets $2b round
China's Tencent Holdings has led a $1.1 billion investment in Indian ride-hailing app developer Ola. The company is in talks with other investors to raise a further $1 billion as an extension of this funding round.
Tech M&A: Tactical forays
A new generation of Chinese technology companies – conscious of the need to stay competitive – are becoming more active M&A players as they choose to buy rather than build their way into multiple verticals
China-Australia: Communication breakdown
A couple of high-profile rejections of Chinese deals overshadow the fact that most foreign investments in the country receive approval. Prospective buyers are advised to engage with interested parties from the outset
Temasek co-leads $78.2m round for China’s Tongdun
Singapore’s Temasek Holdings has jointly led a $78.2 million Series C round for Tongdun Technology, a China-based third-party risk control services provider, in conjunction with Cinda Sinorock and Tiantu Capital.
China’s Heilan Home to acquire stake in Lunar-owned Yeehoo
Shanghai-listed clothing company Heilan Home has agreed to acquire a 44% stake in China babywear company Yeehoo Apparel, which is controlled by Lunar Capital, for RMB660 million ($99.6 million).
KKR sweetens tender offer for Japan's Hitachi Kokusai
KKR has improved its tender offer for Japanese high-tech manufacturer Hitachi Kokusai Electric after the process, which was announced in April, stalled due to share price volatility.
Goldman backs South Korean bakery ingredients maker
Goldman Sachs has invested KRW34 billion ($29.9 million) in Korean specialty food ingredients manufacturer Sun-in.
Philippines confidence endures political strife – AVCJ Forum
The Philippines was praised for its political stability as investor wariness around President Rodrigo Duterte’s crackdown on drugs became a recurring talking point at the AVCJ Philippines Forum.
China electronics recycling platform raises $46m
Huishoubao, a Chinese online recycling platform for electronic devices, has raised a RMB300 million ($46 million) Series B round led by Asia-focused private equity firm Strait Capital Investment Group.
Orchid targets $900m for Fund VII, PSERS re-ups
Orchid Asia is targeting $900 million for its seventh fund and has won a $75 million commitment from Pennsylvania Public School Employees’ Retirement System (PSERS). It expects to do a first and final close in November.