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Consumer

saas-software-enterprise-service
VC investors primed for exit with China Youzan reorganisation

Hillhouse Capital and Matrix Partners China are set for liquidity events after China Youzan, an e-commerce software-as-a-service (SaaS) business listed in Hong Kong, agreed to take full control of its key subsidiary for HKD 2.6bn (USD 334.5m).

  • Greater China
  • 25 May 2023
music-headphones-podcast
Singapore's BandLab raises $25m

Singapore-based social music creation platform BandLab has raised USD 25m from Cercano Management, formerly Vulcan Capital, a vehicle established by Microsoft co-founder Paul Allen.

  • Southeast Asia
  • 24 May 2023
pencil-eraser-school-education
KKR invests $120m in Vietnam school operator

KKR has invested USD 120m in Vietnam school operator EQuest Education via its global impact fund. The deal comprises a combination of debt and equity.

  • Southeast Asia
  • 22 May 2023
diamond-certification
Blackstone buys jewellery certification business, China's Fosun exits

The Blackstone Group has paid USD 569.7m for 100% of Belgium-headquartered jewellery certification business International Gemological Institute (IGI), taking out investors including China’s Fosun Group.

  • Greater China
  • 22 May 2023
dutton-car-garage
CPE sells Australia used car business to Japan's Sojitz

CPE Capital has sold part of Dutton Group, an Australia-based used car dealer it has owned since 2016, to Japan’s Sojitz Corporation for an undisclosed sum.

  • Australasia
  • 18 May 2023
funeral-coffin
TPG re-engages with improved offer for Australia's Invocare

TPG Capital has been granted due diligence access to Invocare, a listed Australian provider of funeral services and operator of memorial parks and crematoria, after making an improved offer that values the business at approximately AUD 2.2bn (USD 1.5bn).

  • Australasia
  • 17 May 2023
uena
Deal focus: Indonesia food delivery goes daily

Indonesia’s Uena claims to have penetrated an untapped corner of Indonesia’s booming app-driven food delivery space. Scaling shouldn’t be overly costly, but there are menu-level nuances to consider

  • Southeast Asia
  • 17 May 2023
south-southeast-asia-asean-indo-pacific
South by Southeast: Asia’s next growth engine?

Grouping together markets based on growth and scale is a problematic with South Asia and Southeast Asia as it was with the BRIC economies. But to some extent, investors are buying into the story

  • South Asia
  • 17 May 2023
shoes-sneakers
India's Convergent invests $49m in Puma sportswear spinout

Convergent Finance, a private equity firm founded by former Fairfax India head Harsha Raghavan, has invested INR 4bn (USD 49m) in Agilitas Sports, a local spinout of German sportswear giant Puma.

  • South Asia
  • 16 May 2023
seiyu-supermarket
KKR takes out Rakuten's stake in Japanese retailer Seiyu

KKR has increased its stake in Japanese supermarket operator Seiyu to 85%, having taken out a position held by local e-commerce giant Rakuten, which supported the private equity firm’s carve-out in 2020.

  • North Asia
  • 15 May 2023
pudu-pudubot-robot
China's Pudu Tech raises another tranche of Series C funding

Pudu Tech, a China-based manufacturer of service robots, has raised a fourth tranche of Series C funding amounting to several hundred million renminbi (CNY 100m equates to USD 14m) from local investor Yuedu Capital.

  • Greater China
  • 12 May 2023
flash-coffee
Singapore coffee chain raises $50m Series B

US-based VC firm White Star Capital has led a USD 50m Series B round for Singapore's Flash Coffee, an app-driven coffee chain.

  • Southeast Asia
  • 12 May 2023
secondaries-baton-relay-2
Foundation secures secondary deal with India's Carpediem

Asia secondaries specialist Foundation Private Equity has acquired stakes in three portfolio companies held by India’s Carpediem Capital through the purchase of new and existing shares.

  • South Asia
  • 12 May 2023
wine
Singapore wine cleantech start-up raises $10m

Singapore’s EcoSpirits, a start-up focused on low-carbon technology for the wine industry, has raised a USD 10m Series A round led by US circular economy specialist Closed Loop Partners.

  • Southeast Asia
  • 11 May 2023
ecolocity-ecolopark
CLSA exits Japan parking lot operator to Advantage

CLSA Capital Partners (CLSA CP) has agreed to sell Japanese coin-operated parking lot business Ecolocity to Advantage Partners for an undisclosed sum.

  • North Asia
  • 10 May 2023
vietnam-school
Sweef's Asia women-focused fund makes debut investment

Singapore’s Sweef Capital, a women-focused impact investor, has made its first investment, providing an undisclosed sum to Vietnamese children’s technical academy Teky Alpha.

  • Southeast Asia
  • 09 May 2023
grocery-produce-retail-fresh
Anchor, Aspex re-up in Korea’s Kurly

Kurly, a Korean grocery delivery platform that abandoned its planned domestic IPO earlier this year, has raised KRW 120bn (USD 91m) from existing investors Anchor Equity Partners and Aspex Management.

  • North Asia
  • 08 May 2023
blusmart
India EV player BluSmart raises $42m

India’s BluSmart, an integrated electric vehicle (EV) ride-hailing and charging business, has raised USD 42m in a funding round featuring BP Ventures.

  • South Asia
  • 08 May 2023
wrangler-store
India's Ace Turtle raises $34m Series B

India’s Ace Turtle, an omnichannel platform used by lifestyle and fashion retailers such as Wrangler and Toys R Us, has raised USD 34m in Series B funding featuring Singapore’s Vertex Ventures.

  • South Asia
  • 03 May 2023
best-less-retail
Australia's PE-backed Best & Less receives take-private offer

Best & Less, an Australian baby and kids retailer that went public less than two years ago under the guidance of then-majority owner Allegro Funds, has received a take-private offer from an investment vehicle controlled by retail industry veteran Brett...

  • Australasia
  • 02 May 2023
luup
Japan e-scooter maker raises $33.7m

Japanese e-scooter maker and urban shared micro-mobility developer Luup has raised a JPY 4.5bn round led by local VC firm Spiral Capital.

  • North Asia
  • 27 April 2023
img-academy-tennis
BPEA EQT, Nord Anglia buy sports education brand

BPEA EQT and Nord Anglia Education, one of its portfolio companies, have agreed to acquire IMG Academy – originally known as Nick Bollettieri Tennis Academy – for an enterprise valuation of USD 1.25bn.

  • North America
  • 26 April 2023
funeral-coffin
TPG abandons bid for Australian funeral services provider

TPG Capital has withdrawn its AUD 1.8bn (USD 1.2bn) unsolicited takeover bid for Invocare, a listed Australian provider of funeral services and operator of memorial parks and crematoria.

  • Australasia
  • 25 April 2023
fast-beauty-fufu
Japan VCs back hair colouring chain

A group of Japanese VC investors including Global Brain have provided JPY 1.1bn (USD 8.4m) in Series A funding to Fast Beauty, operator of hair colouring shop chain Fufu.

  • North Asia
  • 24 April 2023
1 2 3

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saas-software-enterprise-service
VC investors primed for exit with China Youzan reorganisation
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Goldman backs Japan taxi-hailing player Go
buddha-hong-kong
AVCJ daily bulletin returns May 29
mobile-banking-02
Digital bank Tyme wins funding for SE Asia, Africa expansion
fleet
Australian satellite provider Fleet gets $33m Series C
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