Regions

VCs channel $25m into China’s Innovent Biologics

Innovent Biologics, a China-based manufacturer of monoclonal antibodies, has raised $25 million in Series B financing from Lilly Asia Ventures, the VC arm of global pharmaceutical company Eli Lilly, and existing investors Fidelity Biosciences and Fidelity...

Silver Lake-owned Allyes names new CEO

Silver Lake-owned Allyes, a Chinese digital marketing company, has appointed Hanhua Wang as CEO, effective December 1. He replaces Eric Chen, a managing director at Silver Lake, who had been serving as interim CEO. Chen remains chairman of the Allyes...

Malaysia’s Ekuinas wants Icon Offshore to list by 2014

Ekuinas, the Malaysia sovereign wealth fund, plans to list its oil and gas services unit, Icon Offshore, within three years. Abdul Rahman Ahmad, the Icon’s CEO, said the company was already eligible for an IPO but they want to wait until earnings justify...

SSG raises $400m Asia distress fund

International investors are currently gun-shy on India, with capital is leaving the country with alacrity, across all asset classes. For Asia-focused distressed investor SSG Capital Partners, India has become an attractive target market.

Anacacia seeks Aussie SME buyouts

With the established participants in Australia’s lower mid-market having graduated to fund sizes of A$250 million or more as they progressed through the cycles, and many smaller players struggling to raise money, Anacacia Capital finds itself in less...

FountainVest in rapid fundraise

FountainVest Partners reached a final close on its second fund at $1.35 billion last week, but the process was more or less completed in July when the China-focused GP announced a first close of $1 billion, about four months after launch.

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Auctions: The new normal

Private equity firms love selling assets via auction but hate buying them through such channels. As Asian company owners become more sophisticated, bidding contests for large assets are becoming more frequent.

Please vote in the AVCJ India Awards

Voting has opened for the 2012 AVCJ Indian Private Equity & Venture Capital Awards. The region’s private equity community has until November 26 to pay tribute to the leading fundraising, investments, exits, individuals and firms of the past 12 months.

NewQuest to invest $140m in India

Secondaries specialist NewQuest Capital Partners expects to invest about $140 million in India - almost one third of its $400 million NewQuest Asian Fund I.

Pension plans unsure about VC commitments

North American pension plans are exhibiting mixed feelings towards venture capital funds – some find GPs that were once refused to take meetings are now opening up to a wider range of investors while others are backing off from the asset class, blaming...

Australia’s Anacacia reaches $129m second close

Australian GP Anacacia Capital has arrived at a second close of A$125 million ($129 million) for its second fund. The private equity firm has already exceeded its target of A$100 million and is on course to reach its hard cap of A$150 million.

Last chance to vote in the AVCJ Indian Awards

Voting for the 2012 AVCJ Indian Private Equity & Venture Capital Awards closes today. The region’s private equity community has until 5 p.m. (Hong Kong time) to pay tribute to the leading fundraising, investments, exits, individuals and firms of the...

Australia’s PEP targets $3.6b for Fund IV

Pacific Equity Partners (PEP) is targeting up to A$3.5 billion ($3.6 billion) for its fifth fund, including A$2 billion of core equity and a further $1-1.5 billion earmarked for a co-investment pool.

Billabong director explores buyout options

Billabong shares spiked 17% during Monday morning trading in response to the Australian surfwear company announcing that one of its directors was looking at a possible leveraged buyout. TPG Capital and Bain Capital both submitted bids of A$694 million...

Carlyle, Seven Group plan Coates Hire sale

The Carlyle Group and Australia's Seven Group are planning to sell their stakes in Australian equipment rental company Coates Hire. The news comes after the pair failed to proceed with an A$800 million ($831 million) IPO of the company earlier this year.

Squadron’s Prasanna joins Morgan Creek in Shanghai

Anand Prasanna, known to many in the industry as Anand RP, will join Morgan Creek Capital Management as a director in their Shanghai office. He left his previous position as an investment director at Squadron Capital, an Asia-focused fund-of-funds, two...