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2022 in review: End of the party?
Fundraising favours the few; deployment becomes progressively slower as investors agonise about valuations, macro prospects, and financing costs; sponsor-to-sponsor deals prop up exits
New Zealand's Partly gets $21m Series A
New Zealand’s Partly, a company that uses big data to source replacement parts for the global automotive industry, has raised a NZD 37m (USD 21m) Series A round led by UK-based Octopus Ventures.
Australia's Potentia pursues two technology take-privates
Australia-based specialist B2B technology investor Potentia Capital appears to be continuing its pursuit of two listed companies – Nitro Software and Tyro Payments – despite several rejections.
China semiconductor player Eswin Material raises $576m
Eswin Material, the integrated circuit manufacturing unit of Eswin Technology Group, has raised CNY 4bn（USD 576m）in Series C funding led by the New Materials Fund of China National Building Material.
Korea's Google-backed Mathpresso raises $70m
Seoul-based education technology start-up Mathpresso has closed its Series C round on USD 70m following an investment of undisclosed size last year from Google.
Korea's Bespin Global gets $100m Series D
Korea-headquartered cloud services company Bespin Global has raised a USD 100m Series D round led by a unit of Emirates Telecoms Group.
Winter Capital leads $22.5m Series A for India's Uolo
Dubai-based Winter Capital has led a USD 22.5m Series A round for Indian education technology platform Uolo with support from local investor Blume Ventures.
Raffles Family Office appoints digital assets CIO
Raffles Family Office, a Hong Kong-based multi-family office, has named Zann Kwan as CIO and managing partner of its digital assets unit.
BPEA EQT cancels purchase of Korea's PI Advanced Materials
BPEA EQT – formerly Baring Private Equity Asia – has pulled out of its planned acquisition of a majority stake in Korea-based industrial films producer PI Advanced Materials from Glenwood Private Equity.
Hillhouse buys Australia CRO George Clinical
Hillhouse Capital has agreed to buy George Clinical, an Australia-based clinical research organisation (CRO) with a global footprint, for an undisclosed sum.
China medical devices manufacturer LavaMed raises $40m
SuZhou LavaMed, a China-based medical devices manufacturer, has raised USD 40m in angel and Series A funding from Zhejiang Silk Road Fund, Junshang Capital, and Lilly Asia Ventures (LAV).
Goldman invests in KKR-owned Goodpack as part of refinancing
Goldman Sachs Asset Management (GSAM) has made a structured investment in Goodpack, a Singapore-based container manufacturer controlled by KKR, as part of a broader refinancing transaction.
Japan's Sparx leads $50m round for Singapore IoT start-up
Japan’s Sparx Group has led an investment in Singapore-based internet-of-things (IoT) developer UnaBiz. It completes a USD 50m Series B round that started in October last year.
Hong Kong’s E15 VC raises $61m for third fund
Hong Kong’s E15 VC has hit a first close of USD 60.75m on its third global deep tech fund with an anchor investment from existing cornerstone LP Sun Hung Kai & Co (SHK).
Affirma hits first close on renminbi fund
Emerging markets-focused private equity firm Affirma Capital has reached a first close of approximately CNY 1.5bn (USD 215m) on its debut renminbi-denominated fund.
India's Blume closes fourth India VC fund on $250m
India’s Blume Ventures has closed its fourth fund targeting seed-stage tech start-ups on USD 250m, beating a target of USD 200m. Fund III raised USD 105m in 2020.
Square Peg, Wellington back Australia's Rokt at $2.4b valuation
Square Peg Capital and Wellington Management have led a AUD 750m (USD 501m) investment in Australian e-commerce marketing technology provider Rokt at a valuation of USD 2.4bn.
KKR-backed EQuest buys Vietnam school operator
EQuest Education, a Vietnam-based operator of bilingual schools backed by KKR, has acquired a controlling interest in industry peer Khoi Nguyen Education Group (KNE).
Thoma Bravo raises $32b for deployment in software
Thoma Bravo, a specialist investor in software companies, has closed its latest set of buyout funds with more than USD 32.4bn in commitments. This compares to USD 22.8bn in the previous vintage.
India's Innoven fractionalises venture debt fund
India’s Innoven Capital, a joint venture between UOB and Temasek Holdings-owned Seviora Holdings, has fractionalised a USD 50m venture debt fund using blockchain and smart contracts.
Australian needle-free vaccine start-up raises $23m
OneVentures and UniQuest have led a AUD 34m (USD 23m) funding round for Vaxxas, an Australia-based biotechnology company running clinical programmes that include a needle-free COVID-19 vaccine candidate.
Temasek, A91, Kae back $135m round for India's HealthKart
Temasek Holdings, A91 Partners, and Kae Capital have invested USD 135m in Indian omnichannel wellness products retailer HealthKart.
Northleaf launches Tokyo office, targets Asian LPs
Northleaf Capital Partners, a Canada-based asset manager that invests in private equity, private credit, and infrastructure, has opened a Tokyo office to spearhead fundraising activity in Asia and is considering the addition of a Korea presence.