Region
GGV to spin off Asia operation
GGV Capital’s Asia business will sever ties with the firm’s international operation – switching to separate partnerships and a distinct brand – as venture capital continues to feel the impact of the US and China’s conflicting technology agendas.
JIP-led consortium completes Toshiba tender offer
A consortium led by Japan Industrial Partners (JIP) has successfully completed a tender offer for Toshiba Corporation, paving the way for a JPY 2trn (USD 13.6bn) privatisation of the company.
Peak XV, Elevation, Andreessen back India visa platform
Peak XV Partners, formerly Sequoia Capital India, and Elevation Capital have led a USD 12m Series A round for Indian visa platform Atlys with support from Andreessen Horowitz.
Australia's PEP buys stake in biogas business from Sims
Pacific Equity Partners (PEP) has agreed to pay AUD 272.1m (USD 174m) for a 50% stake in LMS Energy, a biogas-to-energy and solar renewable energy business held by Australian metals recycler Sims.
Leapfrog invests $50m in Singapore's Bolttech
LeapFrog Investments has invested USD 50m in Singapore’s Bolttech, the insurance technology business of Pacific Century Group.
India's Unitus combines with US affiliate Capria
India-based impact investor Unitus Ventures has combined with its US affiliate Capria Ventures, with the unified entity to operate globally under the Capria name.
TPG healthcare platform acquires India hospital chain
Asia Healthcare Holdings (AHH), a platform backed by TPG Capital and GIC, has acquired a majority stake in India’s Asian Institute of Nephrology and Urology (AINU) for about USD 72.2m.
India's Kuku FM gets $24m Series C
Indian audio content platform Kuku FM has raised USD 24m in Series C funding led by local growth-stage investor The Fundamentum Partnership and the International Finance Corporation (IFC).
TPG Asia managing partner expands coverage to Middle East
Ganen Sarvananthan, an Asia managing partner at TPG, has been awarded an expanded brief that now includes the Middle East.
Family offices: A role for Hong Kong?
Hong Kong’s package of incentives for family offices is intended to redress a balance that has swung in favour of Singapore. Geopolitics is dampening its competitive advantages
Cybersecurity: PE urged to go post-quantum
Private equity firms with masses of information, long histories, and long futures will be vulnerable to code-cracking quantum computers perceived as lurking on an inevitable near-term horizon
Fund focus: Vertex emphasizes realisations
Growth rounds for cashflow positive companies have facilitated most of Vertex Ventures Southeast Asia and India’s exits – and laid the ground for its recent USD 541m fundraise
Fund focus: Pi Ventures triples its deep tech firepower
While deploying its debut fund, India-based machine learning specialist Pi Ventures realised it was in fact a deep tech generalist. LPs have come along for the ride
PE-backed Concord Healthcare pursues HK IPO
Concord Healthcare Group, an onshore subsidiary of US-listed Chinese healthcare business Concord Medical, has filed for an IPO in Hong Kong.
China's Canton Biologics raises $41m Series C
Chinese pharmaceutical industry services provider Canton Biologics has completed a CNY 300m (USD 41m) Series C round led by state-owned SDIC Venture Capital.
Hony looks to raise SPAC in Hong Kong
Chinese private equity firm Hony Capital has filed to raise a special purpose acquisition company (SPAC) in Hong Kong, having previously failed to get traction with a similar structure in the US.
Everstone part-exits Burger King India, Indonesia
Everstone Capital has sold a 25.3% stake in India-listed Restaurant Brands Asia (RBA), the local and Indonesia operator of Burger King, realising INR 14.9bn (USD 179m) in a partial exit.
India's Kae Capital raises $50m opportunity fund
Indian seed investor Kae Capital has confirmed closing an opportunity fund with USD 50m in commitments less than a year after closing its third flagship fund at USD 94m.
Growtheum backs Indonesia's Kin Dairy
Southeast Asia-focused Growtheum Capital Partners has announced its second dairy deal in five months, with an investment in Indonesia-based ABC Kogen Dairy, commonly known as Kin Dairy.
KKR exits Australia's GreenCollar to OTPP
Ontario Teachers’ Pension Plan (OTPP) will take full ownership of GreenCollar, an environmental services provider that helped establish Australia’s carbon credit market. This will facilitate an exit for KKR and other unnamed shareholders.
Asia Heritage seals partnership with Italy's Obsidian Capital
Asia Heritage, an asset management business launched by Chris Lerner, formerly of Eaton Partners and MSA Capital, is supporting Obsidian Capital as the Italian firm expands into Asia.
Hong Kong virtual insurer Bowtie gets $35m Series B
Hong Kong digital life insurance company Bowtie has closed a USD 34.9m Series B round led by the local unit of Sun Life Financial.
China auto parts platform Casstime adds to Series D round
Chinese aftermarket car parts supplier Casstime has raised CNY 200m (USD 27.5m) across two tranches of Series D funding from local investors.