Region
China bio-manufacturing start-up Mojia raises $80m
Temasek Holdings has led a USD 80m Series B round for Shanghai-based bio-manufacturing start-up Mojia Biotech.
NewQuest, Prosus lead $90m Series E for India's Cashify
NewQuest Capital Partners and Prosus Ventures have led a USD 90m Series E round for India’s Cashify, a marketplace for used smart phones and gadgets.
Matrix seeks $450m for fourth India fund
Matrix Partners has launched its fourth India venture capital fund with a target of USD 450m.
5Y leads $74m round for China AI drug developer
Beijing-based HeliXon, an artificial intelligence-enabled developer of protein-based drugs, has raised CNY 500m (USD 75m) in Series A funding led by 5Y Capital. Other investors include Gaorong Capital and Neumann Capital.
Openspace, VI Group lead $25m round for Vietnam's Finhay
Openspace Ventures and VI Group have led a USD 25m Series B round for Vietnamese digital investment platform Finhay.
Platinum Equity buys Hong Kong lingerie business Hop Lun
US-based private equity firm Platinum Equity has agreed to acquire Hop Lun, a Hong Kong-headquartered producer of fashion lingerie and swimwear that serves a global client base.
Malaysia's RPG Commerce raises $29m Series B
East Ventures has led a USD 29m Series B round for Malaysia-based direct-to-consumer (DTC) social e-commerce company RPG Commerce.
India-focused neobank Stashfin raises $270m
Stashfin, a Singapore-based neobank that primarily operates in India, has raised USD 70m in equity funding – and secured a further USD 200m in debt – as part of a Series C round.
China fashion software platform Linctex raises $100m
Linctex Digital, a Shanghai-based design services platform for the fashion industry, has raised an extended pre-Series B round of nearly USD 100m from GL Ventures and CDH Investments.
India's LeadSquared raises $153m Series C
Indian customer relationship management software-as-a-service (SaaS) provider LeadSquared has raised a USD 153m Series C round led by WestBridge Capital at a post-money valuation of USD 1bn.
Singapore e-commerce aggregator gets $45m
Singapore’s Rainforest, an aggregator of Amazon marketplace sellers, has raised a USD 45m round led by Southern Capital, which provided USD 15m.
China's ZWC hits first close on debut renminbi fund
Chinese venture capital firm ZWC Partners has reached the first close of CNY 1bn (USD 149m) on its debut renminbi-denominated fund. The overall target is CNY 1.5bn.
Placement agents: Asian entries
Asia’s sparse placement agent scene is fleshing itself out despite macro headwinds, but the model is being revised to adapt to a changing market. This appears irreversible
Deal focus: Software Combined sees sense in aggregation
Backed by majority owner Navis Capital Partners, Australia-based Software Combined wants to reach up to USD 35m of EBITDA within three years through acquisitions of smaller B2B players
Deal focus: TH Capital identifies key niche in energy storage
Zhongchu Guoneng Technology is leading China’s push into compressed air energy storage as a means of harnessing fast-rising yet unstable wind and solar capacity. Tsinghua Holdings Capital is among the backers
Deal focus: Pakistan's Dastgyr aspires to emulate Alibaba
SOSV sees parallels between the e-commerce awakenings in Pakistan and China, though 20 years apart. Dastgyr has positioned itself at the fore, but it wants to be asset-light rather than asset-heavy
Fund focus: LPs endorse Potentia's software thesis
Potentia Capital took just four months to close its second fund on USD 438m, emphasizing the growing appeal of B2B technology opportunities in Australia and New Zealand
LP interview: Hywin Holdings
US-listed Hywin Holdings is plugging China’s rich into private asset classes one handshake at a time despite increasing digitisation in this wealth migration theme. PE is a fast-growing slice of the pie
Indonesia blockchain player Ekta raises $60m
Indonesia’s Ekta, a blockchain ecosystem operator with a non-fungible token (NFT) marketplace and eponymous cryptocurrency, has raised USD 60m from US-based Global Emerging Markets (GEM).
Australia's Infomedia entertains three buyout offers
Australia-listed automotive software supplier Infomedia has received its third buyout offer in the past two months, with PE-backed counterpart Solera proposing to acquire the business at a valuation of AUD 638.8m (USD 445m).
Infrastructure funds move towards software - Infralogic Forum
Software providers are set to become targets for infrastructure investors, provided companies can demonstrate sufficient customer stickiness to underpin consistent revenue streams, the Australia Infralogic Investors Forum heard.
Capital Today leads $40m Series B for China's XYZ Robotics
XYZ Robotics, a Chinese start-up specialising in robotic hand-eye coordination, has raised an extended Series B round of USD 40m led by Capital Today China Group.
Hillhouse reaches first close on China carbon neutrality fund
Hillhouse Capital has reached the first close on its debut renminbi-denominated carbon neutrality fund, which has an overall target of around CNY 4bn (USD 597m).