Consumer
JD.com invests $100m in Hong Kong's Li & Fung
Chinese online retailer JD.com is investing $100 million in Hong Kong's Li & Fung, which recently won support from warehouse investor GLP for a privatization.
China's Li Auto gains 43% on debut after $1.1b US IPO
Chinese electric vehicle manufacturer Li Auto closed up 43% on its first day of trading on NASDAQ following a $1.1 billion IPO.
Navis acquires Cambodia international school
Navis Capital Partners has acquired CIA First International School in Cambodia for an undisclosed sum.
Chinese real estate platform Beike pursues US IPO
Beike, a Chinese online real estate platform backed by Tencent Holdings, SoftBank Vision Fund and Hillhouse Capital, has filed for US IPO.
GenBridge leads round for Chinese hot pot ingredients supplier
GenBridge Capital has led a $60 million Series C round of funding for Guoquan, a Chinese hot pot ingredients supplier. All the company's existing investors re-upped.
Profile: CITIC Capital's Hanxi Zhao
CITIC Capital’s Hanxi Zhao cut her teeth with brands in China at Procter & Gamble more than 20 years ago. The market has since moved on, but the underlying message has not
CDH leads round for China community group buying player
Shihuituan, a China-based community group buying platform also known as Nice Tuan, has raised $80 million in the second tranche of a Series C round led by CDH Investments.
Deal focus: Vedantu adds to war chest as rivals encroach
India's Vedantu has raised $100 million in funding to support its ongoing diversification into non-test preparation services. Other players in the online education space have similar plans
Permira buys China, Indonesia English tuition business
Permira has acquired a majority stake in EF Kids & Teens, an English language education provider that operates 288 schools in China and 79 in Indonesia.
Korean travel app secures $36m funding round
MyRealTrip, a South Korean travel super app that positions itself as a one-stop-shop for bookings, has raised KRW43.2 billion ($36 million) in funding from the likes of Altos Ventures, IMM Investment, and Axiom Asia.
Probe into death of Indian founder reveals PE link
An investigation into the apparent suicide of V.G. Siddhartha, founder of Indian coffee chain Café Coffee Day, has revealed that a promise of guaranteed returns to private equity investors might have contributed to the entrepreneur's untimely demise.
Chinese online fresh produce retailer Miss Fresh gets $495m
Chinese online grocer Miss Fresh has raised $495 million in funding - said to be the largest private round ever seen in the country's fresh produce industry.
India payments player Pine Labs invests Malaysia’s Fave
Pine Labs, an Indian payments start-up backed by MasterCard, PayPal, and Sequoia Capital India, has invested Fave, a Malaysian e-commerce platform also supported by Sequoia.
Eurazeo, Primavera-owned WorldStrides files for bankruptcy
WorldStrides, a US-based provider of study-abroad programs for high school and university students owned by Eurazeo and Chinese private equity firm Primavera, has filed for bankruptcy protection.
Canyon Bridge, K2 Venture founders join Asia SPAC wave
Two more groups featuring Asian private equity executives have listed special purpose acquisition companies (SPACs) on US bourses as interest in these structures continues to rise globally.
Korea e-sports player DRX secures $22.5m
Korean e-sports organization DRX has raised $10 million from a group of local investors. It coincides with a separate $12.5 million commitment from e-sports specialist ATU Partners.
Walmart leads $1.2b round for India's Flipkart
Walmart has led a $1.2 billion funding round for Flipkart, the Indian e-commerce business in which it acquired a majority stake at a valuation of $24 billion in 2018.
Ravi Thakran plans new Asia venture
Ravi Thakran, who departed L Catterton earlier this year, plans to launch a new private equity firm targeting growth capital investments in Asia’s consumer sector.
Australia: Retail realities
Not all bankruptcies can be blamed solely on COVID-19; neither is private equity ownership necessarily bad news for retailers. As recent experiences in Australia demonstrate, evolution and execution are key
Luckin's chairman, PE backers removed from board
The chairman and largest shareholder in scandal-hit Chinese coffee shop chain Luckin Coffee has been removed at the second attempt. Representatives of several of the company’s private equity backers have also left the board.
Deal focus: Cortina goes natural for debut Australia deal
Cross-border PE investor Cortina Capital has backed Australian nutritional supplements producer ATP Science with an eye to China expansion. But establishing brand recognition at home is the first step
VinaCapital, Daiwa sell stake in Vietnam dairy producer
Vietnam’s VinaCapital and Japan’s Daiwa PI Partners are poised to make a partial exit from Vietnamese dairy producer International Dairy Products (IDP).
China gay dating app Blued raises $85m in US IPO
BlueCity Holdings, the VC-backed holding company for Chinese gay dating platform Blued, traded strongly after raising $84.8 million through a NASDSAQ IPO.
Deal focus: J-Star maneuvers Japan’s restaurant lull
J-Star's acquisition of Pepper Lunch is driven by a willingness to look past COVID-19 dislocations and focus on the long-term fundamentals of the fast-casual dining space in Japan
