Consumer
KKR, DCP back China's Adopt A Cow
KKR and DCP Capital Partners have jointly invested in Adopt A Cow, a China-based dairy farm operator that pursues a direct-to-consumer sales model underpinned by digital tools.
Centurium, Joy invest $250m in China's Luckin Coffee
Centurium Capital and Joy Capital have invested $250 million in scandal-hit Chinese coffee shop chain, with Centurium describing it as a sign of faith in the company’s business model and long-term prospects.
Kakao spins out online fashion unit, buys VC-backed Zigzag
Korean internet company Kakao Corporation has spun out its fashion e-commerce business as an independent entity and merged it with Zigzag, a VC-backed local fashion marketplace.
Southeast Asia's Grab to merge with SPAC at $30.4b valuation
Southeast Asia-focused ride hailing and local services platform Grab has agreed to go public in the US through a merger with a special purpose acquisition vehicle (SPAC) at an enterprise valuation of $30.4 billion.
Hong Kong's Lever VC hits $46m fourth close on food fund
Lever VC, a Hong Kong-based food tech investor, has achieved a fourth close of $46 million on its debut fund, claiming 2.3x growth in the value of the portfolio since 2019.
Fund focus: Long Hill burns the midnight oil
Embarking on its first Zoom-based fundraise, China's Long Hill Capital succeeding in closing just above target on $300 million while significantly diversifying the LP base
Korea retail: Digital or dead?
Coupang’s bumper IPO has underlined the appeal of a Korean e-commerce industry characterized by chaebols playing catch-up and PE and VC investors looking to profit at the margins
Indonesia e-commerce platform Orami sold to local strategic
Orami, an Indonesian mother-and-baby-focused e-commerce platform backed by numerous venture capital investors, has been acquired by Sirclo, a local e-commerce enabler. Financial details were not disclosed.
Hosen raises $800m for latest China food fund
China-based food and agriculture specialist Hosen Capital has closed its third US dollar-denominated fund above target at $800 million.
China’s Danke to be delisted in US
The New York Exchange is set to delist Chinese apartment rental service provider Danke, having halted trading in the stock on March 15 because of poor information disclosure.
Long Hill raises $300m for third China VC fund
Long Hill Capital closed its third US dollar-denominated fund at $300 million with a remit to pursue healthcare and longevity-related opportunities, which includes start-ups focused on wellness and services aimed at aging consumers.
China grocery platform Dingdong Maicai raises $700m
DST Global and Coatue Management have led a $700 million Series D for China-based online fresh produce delivery business Dingdong Maicai. Existing investors including CMC Group re-upped.
Vision Fund leads $300m round for India's Meesho
SoftBank Vision Fund 2 has led a $300 million round for Meesho, India’s leading social e-commerce start-up, at a valuation of $2.1 billion.
Vision Fund, BlackRock lead Series D for Singapore's Trax
Trax, a Singapore-headquartered start-up that uses computer vision technology to help retailers link sales to in-store and on-shelf positioning, has secured $640 million in Series E funding led by SoftBank Vision Fund 2 and BlackRock.
Alibaba, DST lead Series D for China's Nice Tuan
Alibaba Group and DST Global have led a $750 million Series D round for Shihuituan, a China-based community group buying platform also known as Nice Tuan.
China consumer brands Genki Forest, Tasogare secure funding
Two emerging Chinese beverage brands - Genki Forest and Tasogare, which focus on sparkling water and coffee, respectively - have completed new funding rounds.
Deal focus: IvyCap’s timely 22x windfall
With the launch of its third fund a few weeks away, IvyCap Ventures leveraged strong investor interest in beauty e-commerce player Purplle to secure one of India’s largest rupee VC exits
KKR joins $200m round for China coding education start-up
Hetao 101, a Chinese online education platform that provides computer programming courses for children, has raised $200 million in Series C funding led by KKR, Vision Plus Capital, and GL Ventures.
Australia social media start-up Linktree raises $45m
Index Ventures and Coatue Management have led a $45 million Series B round for Australia-based social media services platform Linktree.
China yogurt brand secures $122m Series B
Simple Love, also known as Jian’Ai, a Chinese yogurt brand, has raised RMB800 million ($122 million) in Series B funding from Matrix Partners China, BA Capital, CITIC Agriculture Fund, and Maison Capital. They all of which backed the company's RMB400...
India's Dream Sports raises $400m, hits $5b valuation
Dream Sports, operator of India’s largest fantasy sports platform, has raised $400 million in funding led by TCV, D1 Capital Partners and Falcon Edge Capital. The post-deal valuation is nearly $5 billion.
Hony launches China healthcare, consumer SPAC
Hony Capital has joined a string of Chinese private equity managers with special purpose acquisition vehicles (SPACs), targeting $300 million for healthcare and consumer deals.
Blackstone bids $6.1b for Australia's Crown Resorts
The Blackstone Group has offered to acquire 100% of Australia-listed casino and hotel operator Crown Resorts for about A$8 billion ($6.1 billion).
China's Taishan Beer raises $92m
CMC Capital Group has committed RMB600 million ($92 million) in funding to Chinese domestic beer brand Taishan.
