Cleantech
India renewables platform Ayana receives $70m
India’s Ayana Renewable Power has received $70 million in equity funding from a group of government-backed impact investors, including UK-based CDC Group.
LPs back Adamantem's emissions reduction drive
Australia’s Clean Energy Finance Corporation (CEFC) has made its first commitment to a private equity fund, coming in as an anchor investor in Adamantem Capital’s second buyout vehicle.
China Everbright raises $459m for BRI fund
China Everbright has reached a first close of RMB3 billion ($459 million) on an environment-focused fund that concentrates on economies covered by the Belt and Road Initiative (BRI).
Chinese EV maker Hozon raises $305m
Zhengjiang-based Electronic Vehicle (EV) start-up Hozon Auto has raised RMB2 billion ($305 million) from Huading Capital, a specialist EV investor.
AIIB backs ADM's renewable energy debt fund
Asian Infrastructure Investment Bank (AIIB) has committed $100 million to an Asia-focused debt fund dedicated to renewable energy managed by Hong Kong’s ADM Capital.
Fund focus: Equis’ infrastructure overhaul
Swapping a traditional fund for a less familiar corporate vehicle represented a gamble for Equis, but the Asian infrastructure manager was confident its approach would make sense to a subset of investors
Aavishkaar, Circulate invest $18m in Indian recycling company
Aavishkaar Capital and Circulate Capital have invested a combined $18 million in Indian waste recovery and recycling business Nepra.
ADIA, OTTP invest $1.2b in renewables-focused Equis
Abu Dhabi Investment Authority (ADIA) and Ontario Teachers’ Pension Plan (OTTP) have confirmed a $1.2 billion investment in Asia-focused renewable energy owner-operator Equis Development.
Manulife backs spinout from Hong Kong’s JIDA
Manulife Investment Management is supporting the spinout of the team at Hong Kong infrastructure investor JIDA Capital, acquiring a significant minority stake in the new GP.
Deal focus: V2Food tackles alternative protein’s price problem
Australia’s V2Food is bringing affordability to the alternative protein space as fresh funding fuels an Asian expansion. The China entry will be a delicate proposition
Carlyle targets Japan environmental business buyout - update
The Carlyle Group has launched a JPY37 billion ($355 million) buyout offer that would see it take control of Japan Asia Group, the Tokyo-listed holding company for several Japanese environment-related businesses, and two key subsidiaries.
China's Bits x Bites hits first close on second food tech fund
Chinese food and agriculture technology investor Bits x Bites has reached a first close of $30 million on its second VC fund. The target is $70 million.
KKR launches India renewable energy platform
KKR has launched a renewable energy platform in India called Virescent Infrastructure, which will build out a portfolio primarily comprising investments made by KKR’s existing infrastructure business.
Carlyle Asia fund supports $2.3b Siemens carve-out
The Carlyle Group’s Asia buyout fund has joined its European counterpart in the EUR2 billion ($2.3 billion) acquisition of Flender, a Siemens subsidiary that manufactures mechanical and electrical drive systems commonly used in wind turbines and industrial...
Deal focus: Delta, Daiwa target Myanmar’s PET peeve
Commercial Plastics Holding - the target of a rare Myanmar private equity buyout - is being positioned as a leader in the country's plastic bottle recycling industry
Proterra supports plant-based egg start-up's Asia rollout
A consortium led by Proterra Investment Partners has committed $100 million to the establishment of an Asian unit of Eat Just, the company behind the US vegan egg substitute brand Just Egg.
Australia's V2Food raises $55m Series B
Australian alternative protein producer V2Food has raised a A$77 million ($55 million) Series B round featuring Sequoia Capital China and Temasek Holdings.
Delta, Daiwa back Myanmar plastic recycler
Delta Capital Myanmar, formerly PMM Partners, and Daiwa Securities Group have invested $12.6 million in Myanmar recycling business Commercial Plastics Holding (CPC).
CDH, Oriza back Canadian Solar carve-out
Canadian Solar, a NASDAQ-listed solar power company, has raised RMB1.78 billion ($260 million) to carve out certain China-based assets ahead of a local IPO.
Deal focus: Affirma’s decade-long water turnaround
Having assumed full ownership of EMC Holdings in 2016, Affirma Capital rejuvenated the Korean wastewater management business through savvy acquisitions and encouraging management to get creative
Deal focus: PEP reaches its Zenith
The fourth investment from Pacific Equity Partners’ secure assets fund, Zenith Energy is expected to serve as a platform for expansion in the Australian remote power industry
Fund focus: Qiming's cleantech team spins out, raises $73m fund
Inspiration Capital, a spinout from Qiming Venture Partners, has raised RMB500 million for its debut fund that focuses on cleantech and advanced manufacturing investments in China
Rise Fund, Swire back Asia plant-based food specialist
The Rise Fund, TPG’s impact investment vehicle, and Hong Kong conglomerate Swire Pacific have led a $70 million round for Green Monday Holdings, a Hong Kong plant-based protein provider.
Corporate VCs & climate change: Good citizens
Increased climate change awareness on a corporate level is leading to more investment – either direct or through funds – in start-ups that offer mitigation solutions. Asia is a key geography