South Asia
India NBFCs: Agreeable aftermath
India’s non-bank financiers remain attractive investment targets as a convergence of macro and systemic shocks tests the market. Sturdy underlying drivers provide confidence as models evolve
Carlyle gets $543m through partial exit from India's SBI Card
The Carlyle Group has sold approximately one-quarter of its remaining 15.8% stake in SBI Cards & Payment Services – a year after the Indian company’s IPO – for INR39.4 billion ($543 million).
China biotech makes Asia global healthcare PE leader
A more than 100% year-on-year increase in deal volume saw Asia Pacific overtake North America to become the most active global private equity healthcare market for the first time in 2020.
India's PolicyBazaar raises $75m for Middle East expansion
PolicyBazaar, India’s largest insurance comparison portal, has raised $75 million from US-based Falcon Edge Capital for a Middle East expansion.
Jungle leads $17m round for India edtech, fintech player
Singapore’s Jungle Ventures has led a $17 million Series B round for Leap Finance, a financial technology provider targeting the Indian education space.
India's Ankur Capital raises $45.5m for Fund II
Indian early-stage technology investor Ankur Capital has reached an incremental close of INR3.3 billion ($45.5 million) against a target of INR3.5 billion.
Deal focus: Temasek supports impact’s giant leap
Impact specialist LeapFrog Investments will use Temasek’s financial backing to broaden its reach, in terms of sectors and geographies, as well as to anchor future funds
Jungle joins $46m Series D for India's Turtlemint
Indian online insurance broker Turtlemint has closed its Series D round at $46 million following a significant contribution from early-stage investor Jungle Ventures.
CDC doubles down on India's Ecom Express
UK development finance institution CDC Group has invested $20 million in Indian e-commerce player Ecom Express. It follows a $36 million investment from CDC last year.
Temasek agrees $500m tie-up with impact investor LeapFrog
Temasek Holdings has committed $500 million to Asia and Africa-focused impact investor LeapFrong Investments, which will see it participate as an anchor LP in the firm’s future funds.
India's Edelweiss targets $686m for pre-IPO fund
Edelweiss Wealth Management (EWM) is looking to raise INR50 billion ($686 million) for its third fund focusing on late-stage growth and pre-IPO investments in India.
Q&A: Everstone Group's Sameer Sain
Sameer Sain, co-founder and CEO of Singapore-based and India-focused Everstone Group, explains why he’s doubling down on ESG and on a hands-on buyout strategy that prioritizes bargain hunting
India's Trifecta closes venture debt fund at $140m
India’s Trifecta Capital has closed its second venture debt fund with $140 million in commitments. The firm raised about $68.4 million for its debut vehicle in 2017.
India direct secondaries: Footprint freefall
A darker mood for Chinese investors in India is stirring expectations for a wave of direct secondary opportunities
GPs & SPACs: Filthy lucre?
The global SPAC craze is percolating into Asia, with private equity firms among the sponsors. LPs aren’t necessarily comfortable with the development, but there’s only so much they can do about it
India's Oaks raises $55m for consumer PE fund
India’s Oaks Asset Management has raised INR4 billion ($55 million) for its second mid-market consumer private equity fund. The overall target is INR5 billion.
OrbiMed raises $800m for Asia life sciences fund
OrbiMed has closed its latest Asia life sciences fund, which primarily invests in China and India, with $800 million in commitments.
Indus Valley raises $17.5m for Pakistan VC fund
Pakistan-focused VC firm Indus Valley Capital has raised $17.5 million for its debut fund focused on early-stage start-ups. The initial target was $15 million.
Tiger leads $100m Series C for India's Infra.Market
Tiger Global Management has led a $100 million Series C round for India’s Infra.Market, valuing the construction materials marketplace at $1 billion.
Everstone exits India bakery business
Everstone Capital has exited Indian bread brand Modern Foods to a local subsidiary of Grupo Bimbo, a global strategic headquartered in Mexico, for an undisclosed sum.
Q&A: Affirma Capital's Ivo Philipps
Affirma Capital came into being 18 months ago as Standard Chartered’s private equity team spun out with most of the remaining balance sheet assets. COO Ivo Philipps explains the middle and back office transition
LeapFrog names co-head of healthcare
Asia and Africa-focused impact investor LeapFrog Investments has recruited Biju Mohandas as a partner and global co-lead for healthcare.
COOs in Asia private equity: Horses for courses
The COO role is gradually becoming more prevalent in Asian private equity, but GPs struggle to find the right combination of financial skills and business acumen. The optimal candidate is often internal
India’s Zolve raises $15m seed round
Accel and Lightspeed Venture Partners have led a $15 million seed round for Zolve, an India-based digital bank focused on cross-border services.