South Asia
NewQuest closes Fund III at $540m
Direct secondaries specialist NewQuest Capital Partners has reached a final close of its third fund at the hard cap of $540 million, increasing it from the original hard cap of $520 million in order to accommodate investor demand.
Korean PE-backed Acushnet files for US IPO
Acushnet Holdings, a golf equipment and apparel business backed by Korean PE investors, has filed for an US IPO.
Indian government announces FDI liberalization
India's government will allow unlimited foreign direct investment (FDI) in a wide range of sectors, including online grocery.
Carlyle hires ex-Johnson & Johnson chair to advise Asia buyout
The Carlyle Group has hired Jesse Wu, the former chairman of Johnson & Johnson China, as a senior advisor to the firm’s Asia buyout team.
Tax law eased for Indian start-up investments
India's Central Board of Direct Taxes (CBDT) has implemented an exemption on income taxes for investments in some start-ups.
SAIF leads $12m round for India's ClearTax
SAIF Partners has led a $12 million Series A round for Indian online tax filing website ClearTax.
IFC to support Abraaj's $200m Pakistan fund
The International Finance Corporation (IFC) has proposed investing up to $20 million in a Pakistan-focused fund being raised by The Abraaj Group. The vehicle has an overall target of $200 million.
Sequoia leads $20m Series B for India's Voonik
Indian personalized fashion portal Voonik has raised a $20 million Series B round of funding led by existing investor Sequoia Capital.
India's Lok Capital reaches $40m first close on third fund
Indian venture capital firm Lok Capital has reached a first close of $40.5 million for its third fund, which is targeting a $100 million total corpus within 12-18 months.
IFC to anchor $200m round for India's Glenmark
The International Finance Corporation (IFC), the investment arm of the World Bank, will anchor a planned $200 million funding round for India's Glenmark Pharmaceuticals, committing up to $75 million.
Omidyar in $20m round for Indian venture debt player
Intellegrow Finance, a non-banking financial company (NBFC) and venture debt lender that targets small and growing businesses in India, has raised INR1.34 billion ($20 million) from investors including existing backer Omidyar Network.
Indian regulator nixes acquisition of PE-backed Sharekhan
India's Foreign Investment Promotion Board (FIPB) has rejected BNC Paribas' proposed acquisition of PE-backed retail brokerage Sharekhan.
Tata Power to acquire ADB, DEG-backed Welspun Renewables
India's Tata Power has agreed to acquire Welspun Renewables (WREPL), a subsidiary of Welspun Energy backed by the Asian Development Bank (ADB) and German development finance institution DEG.
China's Chenhui Capital, Lancy Group launch Sino-Korean fund
Chinese GP Chenhui Venture Partners have teamed up with one of its LP – Shenzhen-listed company Lancy Group – to create a Sino-South Korea PE fund that will invest in consumer and technology companies.
Sequoia, Unitus back $4m Series A for India's Cuemath
Sequoia Capital and Unitus Seed Fund have invested $4 million in a Series A round of funding for Indian education network operator Cuemath.
CDC commits $10m to South Asia impact investor
The DFID Impact Fund, a social impact investment vehicle managed by UK-based development finance institution CDC, has made its first investment in South Asia, committing $10 million to the Insitor Impact Asia Fund.
Microsoft, Salesforce lead $23m round for India's Helpshift
Microsoft Ventures and Salesforce Ventures have led a $23 million Series B round for Indian customer service platform Helpshift.
India's GIC-backed Greenko raises $230m
Greenko Energy Holdings, an Indian renewable energy producer owned by the Singapore sovereign wealth fund, GIC Private, has raised $230 million from GIC and the Abu Dhabi Investment Authority (ADIA).
IFC to invest $50m in India's Janalakshmi
The International Finance Corporation (IFC), the investment arm of the World Bank, will invest up to $50 million in Indian microfinance institution (MFI) Janalakshmi Financial Services.
Providence part exits India's Idea Cellular for $207m
Providence Equity has sold about 3.5% of its 6.8% stake in India’s Idea Cellular for INR13.8 billion ($206.6 million).
Edelweiss invests in India's Bridgei2i
Edelweiss Private Equity has invested an undisclosed amount of Series A growth capital in India’s Bridgei2i Analytics Solutions, an enterprise services company focused on big data.
Rabo invests $15m in India's Cremica
Rabo Equity Advisors has committed $15 million for a minority stake in Indian condiment and snack maker Cremica Food Industries.
Beenext, Digital Garage lead Series B for India's Droom
Droom, an Indian used automobiles trading marketplace, has raised about INR2 billion ($30 million) in a Series B round of funding led by Singapore-based early stage investor Beenext and Japanese incubator Digital Garage.
Morgan Stanley marks down India's Flipkart again
Morgan Stanley Institutional Fund Trust has marked down its investment in Flipkart for the second quarter in a row, reducing its estimate of the Indian online retail giant by 15.5%.