Regions
LionRock leads $11m round for Chinese casual dining chain
LionRock Capital has led an $11.5 million Series C funding round for YPX Cayman Holdings, which operates the Cloud 9 casual dining chain in China. Existing investors Qiming Venture Partners and Ignition Capital also participated.
Bamboo Finance buys controlling interest in microfinance fund
Bamboo Finance, the Luxemburg-based social investment firm with a strong focus on Asia, has acquired a controlling interest in specialist private equity fund Accion Investments in Microfinance for $105 million.
LPs wary about raising Asia PE allocations above 10% - AVCJ Forum
Institutional investors are generally happy to deploy 10% of their private equity allocation in Asia, but they say it is difficult to justify increasing this portion until risk factors ease and local managers build up stable teams and more substantive...
Investors give prognosis for healthcare investment in Asia - AVCJ Forum
Despite regulatory hurdles and a waning IPO market, the healthcare care sector is an increasingly attractive area of investment for venture capitalists.
China's innovative entrepreneurs are chasing Silicon Valley - AVCJ Forum
China’s venture capital industry may not yet be ready to rival Silicon Valley, but companies are still exhibiting strong growth and, in certain cases, pursuing business models as innovative as those found in the US.
India Value Fund reduces fund size by 15%
India Value Fund Advisors (IVFA) has trimmed its fund size by 15%, returning $100 million of the approximately $700 million corpus to LPs in response to changes in the investment environment. Management fees charged on that $100 million since inception...
China to remain world's leading emerging market – AVCJ Forum
Asia – and China in particular – will remain the preeminent emerging markets destination for private equity despite moderating growth and increased competition for deals, GPs told the AVCJ Forum.
A question of discipline
Should managers be frowned upon for cutting fund sizes and returning capital to investors? No – provided the decision is strategically justified.
Warburg Pincus backs India’s Future Capital
Warburg Pincus' investment in Future Capital Holdings probably wasn’t the first private equity deal conceived on an evening flight from New Delhi to Mumbai and it almost certainly won’t be the last.
Permira cashes out of Galaxy at 2.8x
Thanks in no small part to the Chinese passion for gambling, Macau has emerged as the casino capital of the world in recent years, with takings six times those of Las Vegas. Permira has successfully ridden this wave, securing a 2.8x money multiple on...
China’s Hina to launch vineyard fund
It was always just a matter of time before dedicated wine investment funds emerged to target China’s wealthy oenophiles. Wine is increasingly popular among the fashionable classes and the country recently surpassed the UK to become the world’s fifth-largest...
Dymon targets Singapore mid-market PE
Dymon Asia Private Equity (DAPE) sees a gap in the Singapore mid-market. With the likes of Baring Private Equity Asia and Navis Capital Partners having scaled up their fund corpuses to $1 billion or more in the last six years, ticket sizes have passed...
AVCJ at 25: Turning points
To mark the 25th anniversary of Asian Venture Capital Journal, we highlight five key phases in the development of asset class in Asia and talk to the individuals involved. Two of the phases are births – of a sort – and the other three are crises,...
Western valuation criteria cannot be applied to Chinese PE - study
Valuation standards devised in Western markets cannot be automatically applied to Chinese companies due to the influence of factors such as due diligence, according to a new joint study released by German exchange organization Deutsche Börse and law...
Compostion Capital leads VinaLand shareholder revolt
Composition Capital is leading a large group of shareholders in Vietnam real estate fund VinaLand against a “reorganization” proposal by the company’s board.
FountainVest closes Fund II at $1.35b
FountainVest Partners has closed its second China-focused fund at the hard cap of $1.35 billion after about eight months in the market. The vehicle is 40% larger than its predecessor with a large proportion of existing investors choosing to re-up.
Nomura launches private equity index
Japanese investment bank Nomura claims to have launched the world's first daily investable private equity index.
Castle Harlan bid-rigging case goes before Australian court
A deal involving a Canadian mining services company that was bought and sold by US private equity firm Castle Harlan on the same day has gone before an Australian court.
India Infoline gets approval for three funds
India Infoline has received approval from The Securities and Exchange Board of India (SEBI) to launch its three alternative investment funds (AIFs) – IIFL Venture Fund, IIFL Private Equity Fund and IIFL Opportunities Fund.
Everstone tables buyout offer for Singapore’s Harry’s Holdings
Everstone Capital has launched a takeover bid for Singapore-listed bar and restaurant operator Harry’s Holdings worth up to S$21.8 million ($17.8 million). The company founder, Mohan Mulani, and his wife Rita – who between them have a 45.9% stake...
DE Shaw downsizes India private equity business
DE Shaw, one of the world’s largest hedge funds, is said to be downsizing its private equity business in India, six years after launching operations in the country.
Carlyle to list Chimney in December
The Carlyle Group is to sell part of its stake in Japanese restaurant chain operator Chimney through an IPO in December, its third attempt to list a Japanese asset this year.
CPPIB targets larger deals, wants to boost emerging markets exposure
Canada Pension Plan Investment Board (CPPIB) is looking to target larger, more complex acquisitions as part of a wider strategy to increase exposure to emerging markets, particularly China. Mark Wiseman, the plan’s CEO, made the observations as CPPIB...
Tata Capital to set up $1b fund with Power Finance
Tata Capital has teamed up with Power Finance Corp (PFC), an Indian power sector financing specialist, to set up a $1 billion private equity fund to invest in domestic power projects.