Regions
CPE sells New Zealand shipping business to Morgan Stanley
Australian middle-market private equity firm CPE Capital has sold StraitNZ, a ferry and logistics operator that runs services across the Cook Strait between New Zealand’s North and South Islands, to Morgan Stanley Infrastructure Partners (MSIP).
Permanent capital: A bridge too far?
GPs are increasingly looking for ways to hold assets beyond the traditional fund timeline, but perpetual and long-dated capital largely remain the preserve of global firms and smaller specialists
Deal focus: India EV set for mass mobility boom
India’s EverSource Capital sees a fast track to auto industry electrification in the B2B fleet services of Lithium Urban Technologies. The company plans more than fivefold growth in the next few years
LP interview: Hyundai Marine & Fire Insurance
Innchul Oh, a senior manager with Hyundai Marine & Fire Insurance, approaches international private equity with a brand of risk wariness that currently favours venture over buyouts. Generalist GPs are lamented as a dying breed
Carlyle sells Japan construction materials supplier to Lone Star
The Carlyle Group has sold Senqcia Corporation, a Japanese construction materials supplier formerly known as Hitachi Metals Techno, to Lone Star Funds for an undisclosed sum.
Bain buys minority stake in India's IIFL Wealth
Bain Capital has paid INR 33.8bn (USD 484m) for a 24.98% stake in India’s IIFL Wealth Management, taking out positions held by General Atlantic and Fairfax India Holdings.
Effissimo pledges to support Bain buyout of Toshiba
Bain Capital appears to be preparing a take-private bid for Toshiba Corporation, having secured the support of the company’s largest activist shareholder for a potential tender offer.
India's Games24x7 raises $75m, becomes unicorn
Malabar Investment has led a USD 75m funding round for Games 24x7, an India-based mobile games operator, at a valuation of USD 2.5bn.
India’s LC Nueva hits first close on debut VC fund
LC Nueva Investment Partners, a partnership between Singapore’s Lighthouse Canton and India’s Nueva Capital, has hit a first close of about USD 30m on its debut VC fund. The target is USD 40m.
China cybersecurity provider ThreatBook raises $47m
Beijing-based cybersecurity solutions provider ThreatBook has raised CNY 300m (USD 47m) in an extended Series E round led by CDH Investments, featuring existing investor Star Road Ventures.
China MSME financier raises $70m
Micro Connect, a China-based provider of financing to micro, small and medium-sized enterprises (MSMEs), has raised USD 70m in Series B funding.
Insight leads Series C for UK, India-based Builder.ai
Insight Partners has led a USD 100m Series C round for Builder.ai, a low-code/no-code app development platform that has a significant back-office presence in India.
HealthQuad raises $162m for India healthcare VC fund
HealthQuad, an India-focused healthcare VC investor backed by Quadria Capital, has closed its second fund on USD 162m, more than twice the original target.
Alibaba leads Series C extension for China AR start-up Nreal
Nreal, a Chinese manufacturer of augmented reality (AR) glasses that resemble normal sunglasses, has raised an extended Series C of USD 60m led by Alibaba Group.
Riverside backs Australia events software provider
The Riverside Company has invested an undisclosed sum in EventsAIR, an Australian events management software provider for in-person, virtual, and hybrid events.
CDH, Huaxing lead $120m Series B for China’s InnoRNA
CDH Investments and Huaxing Healthcare Fund have led a USD 120m Series B for InnoRNA, a China-based mRNA drug developer. Existing investors CPE and Fangyuan Capital re-upped.
China EV maker Eezi raises $78m
Shenzhen-based electronic vehicle (EV) manufacturer Eezi has raised a CNY 500m (USD 78m) pre-A round led by China Merchants Venture.
Paragon backs Indian caffeine-based personal care brand
Paragon Partners has led a INR 2.4bn (USD 31.7m) Series C round for mCaffeine, an India-based direct-to-consumer (D2C) personal care brand that specialises in caffeine-infused products.
Singapore's Azalea launches sustainability fund-of-funds
Temasek Holdings-owned Azalea Investment Management has launched its first sustainability fund-of-funds, which will target opportunities that deliver positive environmental and social outcomes alongside private equity-style financial returns.
GP profile: DCM
Investing in China, Japan, and the US out of a single global fund, DCM sticks to a formula of small funds, concentrated portfolios, early-stage deals, and collaborative cross-border teams
Deal focus: India e-sports early-mover makes waves
Loco is positioned to take a leadership role in India’s up-for-grabs game streaming industry following a sizeable Series A round and promising early traction in community building
BNPL: Voodoo economics?
Credit-driven e-commerce is coming to developing Asia with an attractive supply-demand equation and a mix of macro and business-level risks. Start-ups are courting incumbents, not disrupting them
Deal focus: Jade Invest rides pest control M&A boom
Having offered a blueprint for pest control consolidation globally in Anticimex, EQT wants to repeat the trick in China with Guardian Hygiene Service. It meant a 3.3x return for previous owner Jade Invest