Consumer
Indonesia fintech start-up iSeller gets $12m
Indonesia financial technology start-up iSeller, which helps businesses to digitise sales and operations, has raised USD 12m in Series B funding led by Intudo Ventures.
Hillhouse-backed China pet services business seeks US listing
New Ruipeng Pet Group, a China-based pet care services platform that counts Hillhouse Capital as a significant shareholder, has filed for an IPO in the US.
Orchestra Private Equity acquires KFC Korea
Having secured permission to do sub-franchising and to make alterations to menus and store formats, Orchestra Private Equity believes it can succeed with KFC Korea where others failed
ResponsAbility hits $173m first close on Asia food fund
Swiss impact investor ResponsAbility has reached a first close of USD 173m for a South and Southeast Asia-focused sustainable food private equity fund. The target is USD 400m.
Reefknot leads Series A for Singapore logistics player Locad
Singapore-based logistics service provider Locad has raised USD 11m in Series A funding led by Reefknot Investments, which is supported by Temasek Holdings and supply chain giant Kuehne + Nagel.
TR exits last China asset acquired through Cassia restructuring
TR Capital has sold China-focused luxury streetwear brand Evisu United – one of two assets it acquired through fund restructuring for Cassia Investments – through a sale to an unnamed financial sponsor. The size of the deal was not disclosed.
India's Lighthouse seeks $425m for Fund IV, gets NIIF commitment
Lighthouse Funds is targeting INR 35bn (USD 425m) for its fourth India fund and has signed up the country’s National Investment & Infrastructure Fund (NIIF) as an anchor LP.
Deal focus: L Catterton hitches a ride with Tenways
Electric bicycle brand Tenways has built its business on European design capabilities and Asian manufacturing smarts. L Catterton is backing the two-year-old company to become a global leader
Profile: Elevation Equity Partners’ Gordon Cho
Negotiating a spinout while troubled by health issues tested Gordon Cho’s faith and resilience. He feels stronger for the experience and is now looking to make his mark on Korea’s middle market
Deal focus: VIG secures rare airline turnaround opportunity
VIG Partners stepped into the breach when Eastar Jet’s previous white knight bailed. It agreed to recapitalise the airline on obtaining assurances that key licenses and routes remain in place
Investcorp leads $39m Series D for India's Wakefit
Investcorp has led a INR 3.2bn (USD 39.4m) Series D round for India’s Wakefit, which claims to be the largest D2C retailer of mattresses and bedding accessories.
Accel backs India home construction start-up
Accel and fellow US venture firm Celesta Capital have led a USD 10m round for India’s Brick&Bolt, a consumer-facing end-to-end home construction platform.
General Atlantic invests $130m in Indonesia's Cimory
General Atlantic has paid USD 130m for a 5.64% stake in Indonesian dairy and consumer goods producer Cimory, which completed a domestic IPO towards the end of 2021.
Carlyle buys India skincare, beauty platform
The Carlyle Group has acquired a majority stake in VLCC, an Indian skincare and beauty platform backed by Everstone Capital, for an undisclosed sum.
Deal focus: Anchorage gets Aussie icon for a song
Anchorage Capital Partners has acquired David Jones, a longstanding and beloved Australian department store chain, for one-fourth the cost of recent renovation work at a single location
ICG invests in Korea's Big Mama Seafood
Intermediate Capital Group (ICG) has announced a second deal in three weeks from its fourth Asia fund – which closed last year on USD 1.1bn – with a commitment of undisclosed size to Korea-based Big Mama Seafood.
VIG acquires Korea's Eastar Jet
Korea’s VIG Partners has acquired 100% of local low-cost airline Eastar Jet for USD 117m, citing plans to introduce new aircraft to the fleet as part of a “quick turnaround.”
China-linked EcarX, Lanvin complete SPAC mergers
EcarX, a smart mobility solutions provider backed by Chinese automaker Geely Auto Group, and Lanvin Group, a global luxury fashion platform established by Fosun Group, both completed mergers with US-listed special purpose acquisition companies (SPACs).
Anchorage buys Australian department store chain David Jones
Anchorage Capital Partners has agreed to buy Australian department store chain David Jones from South Africa-listed Woolworths Holdings (WHL).
Winter Capital leads $22.5m Series A for India's Uolo
Dubai-based Winter Capital has led a USD 22.5m Series A round for Indian education technology platform Uolo with support from local investor Blume Ventures.
Square Peg, Wellington back Australia's Rokt at $2.4b valuation
Square Peg Capital and Wellington Management have led a AUD 750m (USD 501m) investment in Australian e-commerce marketing technology provider Rokt at a valuation of USD 2.4bn.
KKR-backed EQuest buys Vietnam school operator
EQuest Education, a Vietnam-based operator of bilingual schools backed by KKR, has acquired a controlling interest in industry peer Khoi Nguyen Education Group (KNE).
Temasek, A91, Kae back $135m round for India's HealthKart
Temasek Holdings, A91 Partners, and Kae Capital have invested USD 135m in Indian omnichannel wellness products retailer HealthKart.
Deal focus: Prosperity7 widens mandate with Australia’s Vow
Prosperity7 Ventures has well and truly escaped its energy sector roots, leading a hefty early-stage round for Australia’s Vow, a company making cell-cultured meat with a twist
