Consumer
Indonesia's GoTo raises $1.1b, gains 13% on debut
Indonesia-based ride-hailing service turned super app GoTo, which has numerous private equity backers, gained 13% on debut following an IDR 15.8trn (USD 1.1bn) offering on the Indonesia Stock Exchange (IDX).
Singapore parenting app raises $22m Series D
East Ventures has led a USD 22m round for Singapore’s Parentinc, which claims that its flagship brand, theAsianparent, is Southeast Asia’s largest parenting platform.
Japan's MPower backs pet devices maker
Japan’s MPower Partners, which was set up last year to make environmental, social, and governance (ESG) investments, has joined a USD 10.5m Series B round for local pet devices maker Rabo.
Korea Web3 gaming platform gets $34m
Krust Universe, a start-up incubation and investment unit of Korean internet giant Kakao, has led a USD 34m round for local Web3 gaming platform Iskra.
Hosen closes $280m single asset continuation fund for Kilcoy
Hosen Capital, which makes investments in China’s consumer space, has closed a USD 280m single-asset continuation fund for Kilcoy Global Foods, a beef processing business it has owned since 2013.
China’s XVC raises $274m for third US dollar fund
Beijing-based venture capital firm XVC has raised USD 274m for its third US dollar-denominated vehicle. It brings overall assets under management to USD 1.2bn.
Aavishkaar hits $130m first close on latest India impact fund
Aavishkaar Capital has reached a first close of INR 10bn (USD 130m) on its latest India impact fund. It is reportedly targeting a final close of USD 200m.
CPPIB leads $805m round for India's VerSe
Canada Pension Plan Investment Board (CPPIB) has led a USD 805m Series J round for India’s Verse Innovation, parent of media apps Dailyhunt and Josh. It is said to value the company at USD 5bn.
Alibaba leads Series C extension for China AR start-up Nreal
Nreal, a Chinese manufacturer of augmented reality (AR) glasses that resemble normal sunglasses, has raised an extended Series C of USD 60m led by Alibaba Group.
Paragon backs Indian caffeine-based personal care brand
Paragon Partners has led a INR 2.4bn (USD 31.7m) Series C round for mCaffeine, an India-based direct-to-consumer (D2C) personal care brand that specialises in caffeine-infused products.
Deal focus: India e-sports early-mover makes waves
Loco is positioned to take a leadership role in India’s up-for-grabs game streaming industry following a sizeable Series A round and promising early traction in community building
India cricket metaverse start-up raises $100m
Insight Partners has led USD 100m Series A round for FanCraze, an Indian digital assets start-up that earlier this year launched a range of cricket-themed non-fungible tokens (NFTs).
Diageo divests Korean whisky brand to local PE consortium
Global beverage giant Diageo has agreed to sell Windsor, Korea’s best-selling whisky brand, to Bayside Private Equity and Metis Private Equity for KRW 200bn (USD 163.2m).
A91 leads $35m Series C for India beauty brand
A91 Partners has led a USD 35m Series C round for Plum, an India-based direct-to-consumer (D2C) personal care brand. Existing investors Unilever Ventures and Faering Capital also participated.
EQT buys China pest control business
EQT Private Equity Asia has acquired majority stake in Guardian Hygiene Service, China’s largest domestic pest control company, for an undisclosed sum. It facilitates a full exit for Jade Invest.
Primavera SPAC to merge with Fosun-owned fashion platform
A special purpose acquisition company (SPAC) with ties to China-based private equity firm Primavera Capital Group has agreed to merge with global luxury fashion platform Lanvin Group at a pro forma enterprise valuation of USD 1.5bn.
India's Reliance buys VC-backed Clovia
Clovia, an India-based lingerie and sleepwear retailer backed by several VC investors, has been acquired by Reliance Retail Ventures (RRVL) at an approximate valuation of USD 140m.
Trustar buys China condiments supplier
Trustar Capital, formerly known as CITIC Capital Partners, has acquired China-based food condiments supplier Beijing Salion Foods for an undisclosed sum.
PE-owned Belle Fashion files for Hong Kong IPO
China’s largest women’s footwear retailer Belle Fashion, which is backed by Hillhouse Capital and CDH Investments, has filed for a Hong Kong IPO with a reported target of USD 1bn.
China smart projector brand JMGO raises $158m
IDG Capital and Chinese smartphone brand Oppo have invested CNY 1bn (USD 158m) in JMGO, a local manufacturer of smart projection equipment developer JMGO that also goes by the name Holatek.
Index, Coatue lead $110m round for Australia's Linktree
Index Ventures and Coatue Management have led a USD 110m round for Linktree, an Australian social media platform that drives audience engagement, at a valuation of USD 1.3bn.
India media tech supplier Amagi secures $95m
Amagi, an India-based broadcasting industry technology provider that claims an audience of more than 2bn people, has raised a USD 95m round led by Accel Partners at a valuation of at least USD 1bn.
PE-owned Fitness First winds down in Hong Kong
Private equity-owned Fitness First has wound down its Hong Kong business, which accounts for eight out of approximately 90 centres in a network that extends into Southeast Asia, as pandemic-related restrictions took their toll.
PE-backed GoTo targets $1.1b Indonesia IPO
Indonesia-based ride-hailing service turned super app GoTo, which counts Alibaba Group and SoftBank Vision Fund among its largest external investors, is looking to raise at least IDR 15.2trn (USD 1.1bn) through a domestic IPO.