South Asia
Creature comforts: Why PE likes pet care
Private equity investors have long championed the resilient characteristics of pet care globally. The pandemic helped solidify a similar value proposition in Asia
2Q analysis: Still scrambling
State-supported deals prop up Asia private equity investment; GPs hustle for liquidity in an unforgiving exit landscape; ex-China mid-market players gain some traction in fundraising
Sujoy Bose exits leadership role of India's NIIF
Sujoy Bose has left India’s National Investment & Infrastructure Fund (NIIF), having served as CEO of the organisation since its inception in 2016.
Lightspeed leads $20m round for India SaaS player Zluri
Lightspeed India Partners has led a USD 20m Series B round for Zluri, an India and US-based platform that helps companies manage and optimise their software-as-a-service (SaaS) ecosystems.
India's CapFort Ventures seeks $24m for debut VC fund
India’s CapFort Ventures, an early-stage VC firm set up this year by investors at local incubator Venture Catalysts, has launched its debut fund with a target of USD 24m.
India's LetsTransport gets $25m Series D
Bertelsmann India Investments has led a USD 25m Series D round for LetsTransport, a platform that aims to integrate independent truckers into the mainstream economy.
Quadria to invest $155m in India eye hospital
Quadria Capital has invested USD 155m in Maxivision Eye Hospital, a chain of 42 eye hospitals and vision clinics across five states in southern and western India.
Frontier market fundraising: Roads less travelled
As fundraising slows globally, GPs in frontier markets are more dependent than ever on multilateral development banks. That’s not a major problem now, but in a long downturn, it could become one
Portfolio: True North and Integrace
True North has spent five years transforming Integrace from a low-margin drug portfolio into a broader, better-performing platform with digital capabilities. The M&A story isn’t finished yet
Tiger, Blume join $33m round for India's Battery Smart
Tiger Global Management and Blume Ventures have supported a INR 2.7bn (USD 33m) pre-Series B round for Indian battery-swapping electric vehicle (EV) infrastructure provider Battery Smart.
Multiples leads $145m round for India's Veritas Finance
Veritas Finance, an Indian non-banking finance company (NBFC) that issues loans to micro, small and medium-sized enterprises (MSMEs), has raised INR 12bn (USD 145m) in funding led by Multiples Alternate Asset Management.
Danish fund invests $24m in India's Arohan Financial
Indian microfinancier Arohan Financial Services has received DKK 166m (USD 24.3m) from the government of Denmark’s Investment Fund for Developing Countries (IFU).
Fund focus: Epiq renews brute force India tech strategy
Epiq Capital has closed its second VC fund aimed at identifying India’s future tech unicorns early and buying in when the path to a large IPO comes into focus. Access and selection are the secret sauce
LP interview: Dietrich Foundation
The Dietrich Foundation, which has one of the highest China PE and VC allocations of any US LP, is cautious on the market but not disengaged. Meanwhile, India and Southeast Asia are becoming more interesting
India’s A91 invests $30m in digital consultancy
Indian VC firm A91 Partners has invested USD 30m in KaarTech, a local digital transformation consultancy looking to expand in the Middle East, EU, and North America.
Brookfield commits $1bn to Indian energy platform Avaada
Brookfield Asset Management has invested about USD 1bn in Indian energy platform Avaada as part of a newly closed USD 1.3bn funding round.
India's Epiq raises $225m for second VC fund
India’s Epiq Capital has closed its second late-stage VC fund with USD 225m in commitments, beating a target of USD 200m.
India's Omnivore hits $150m first close on third fund
India agricultural technology-focused impact investor Omnivore has reached a first close of USD 150m on its third fund, beating the overall target of USD 130m. The hard cap is USD 200m.
ResponsAbility raises $106m for climate-agri debt fund
Swiss impact investor ResponsAbility has raised USD 106m for a global climate-smart agriculture and food private debt fund that will be 40% deployed in Asia.
RTP Global collects USD 1bn for early-stage investments
RTP Global, a global early-stage venture capital firm that has made nearly 50 investments in India and Southeast Asia, has announced the launch of its fourth fund with USD 1bn in commitments.
Warburg Pincus buys majority stake in India bath fittings brand
Warburg Pincus has acquired a majority stake in India’s Watertec, an affordable bath fittings brand with a nationwide footprint.
Deal focus: L Catterton sees value in the Drools recipe
Indian pet food producer Drools is the runaway leader among local brands, trailing only multinational mainstay Mars. The challenge for L Catterton was persuading a profitable company to take its money
Deal focus: LeapFrog taps Asian appetite for impact
A multi-fund commitment from Hong Kong’s AIA Group to LeapFrog Investments underscores growing interest in impact strategies among Asian LPs as they hone social mandates
Japan's Terra Motors raises $28m
Japanese electric vehicle (EV) start-up Terra Motors has raised JPY 40bn (USD 28m) in Series C funding featuring Silicon Valley-based Pegasus Tech Ventures.