Consumer
IFC plans re-up for A91's second India fund
The International Finance Corporation (IFC) has proposed a commitment of up to $25 million in the sophomore fund of India’s A91 Partners, which has a target of $500-550 million.
STIC leads $100m round for Carousell at $1.1b valuation
Korea’s STIC Investments has led a $100 million round for Carousell, a Singapore-based mobile classifieds marketplace for secondhand goods, at a valuation of $1.1 billion.
Profile: Vision Knight Capital’s David Wei
Drawing on his experiences as a top executive at Alibaba Group, David Wei fashioned Vision Knight Capital into a China-focused private equity firm that aims to be both consultant and capital provider
Hong Kong’s Lever VC closes food fund at $80m
Hong Kong-based food tech investor Lever VC has reached a final close of $80 million on its debut fund, which launched in August last year with a target of $50 million.
Australia's SiteMinder secures $73m pre-IPO round
Australia-based hotel booking platform SiteMinder has raised a A$100 million ($73 million) pre-IPO round led by BlackRock and AustralianSuper.
India home interiors player raises $50m Series E
IIFL Asset Management has led a $50 million Series E round for Indian interior design start-up HomeLane.
India's Leap Finance raises $55m Series C
US education technology specialist Owl Ventures has led a $55 million Series C round for Leap Finance, an Indian start-up that helps students pay for overseas studies.
PayPal to acquire Japan's Paidy for $2.7b
PayPal has agreed to buy Japan’s Paidy, a specialist in deferred e-commerce payments backed by several private equity investors, for about JPY300 billion ($2.7 billion).
Baring Asia invests $150m in Singapore game developer
Baring Private Equity Asia has invested $150 million in Singapore-based game developer Virtuos, becoming the largest external shareholder.
DST leads Series B for China cross-border brand Cider
Guangzhou-based cross-border fashion brand Cider has raised a $130 million Series B round led by DST Global with support from Greenoaks Capital and Andreessen Horowitz.
Deal focus: Affinity capitalizes on enforced divestment
Delivery Hero was instructed to offload Yogiyo as a condition of buying Woowa Brothers. Affinity, Permira, and GS Retail made the most of a $685 million opportunity to enter Korea’s food delivery space
Q&A: C Ventures’ Ben Cheng
Ben Cheng, a managing partner of C Ventures, mixes lifestyle trends and corporate VC as he helps Adrian Cheng, scion of Hong Kong’s New World Development, usher the family empire into a digital future
Deal focus: India’s AppsForBharat inspires VC devotees
AppsForBharat aims to be the first mobile player to create a product that sticks in the hard-to-monetize spirituality services space. Sequoia Capital India and Matrix Partners India are among the faithful
Kakao, KDB join $30m round for Japan's H2O Hospitality
Kakao Investment and Korea Development Bank (KDB) have joined a $30 million Series C round for H2O Hospitality, a Japan-based tourism operator expanding in Korea and Southeast Asia.
China car wash business achieves unicorn status
1km, China’s largest car wash company, has achieved a valuation of more than $1 billion on closing a Series D funding round across two tranches. It did not specify the size of the round.
China-focused NFT marketplace Cybertino raises $10m
A group of Chinese investors including Sky9 Capital, Ince Capital, and Draper Dragon have joined a $10 million round for non-fungible token (NFT) marketplace Cybertino Lab.
Malaysia’s Carsome raises $200m at $1.3b valuation
Malaysia-headquartered used car trading platform Carsome has achieved a valuation of $1.3 billion with the close of an extended Series D funding round worth $170 million.
Japan's Shiseido sells US makeup brands to Advent
Japan’s Shiseido has extended a program of non-core divestments with the sale of three of its US makeup brands to Advent International for $700 million.
Advent sells Chinese mattress maker to Hillhouse
Advent International has sold its controlling stake in AI Dream – operator of the Serta and King Koil mattress brands in China – to Hillhouse Capital.
China comic platform Kuaikan raises $240m
Kuaikan, China’s largest publishing platform for comics, has raised $240 million from CCB International, Korean mobile app marketplace One Store, Tencent Holdings, Coatue Management, and Tiantu Capital.
China’s Dayone Capital closes debut fund at $630m
Dayone Capital, a Chinese consumer-focused PE firm established by Allen Chen, founder of eyewear brand Mujosh and co-founder of BA Capital, has closed its debut fund at $630 million.
Korea's Danggeun Market raises $162m at $2.7b valuation
DST Global has led a $162 million Series D round for Danggeun Market, operator of Korean flea market app Karrot, at a valuation of $2.7 billion.
Pakistan's Airlift raises $85m Series B
Airlift, a Pakistani last-mile delivery app, has raised an $85 million Series B round in what is being called the largest-ever start-up investment in Pakistan and the Middle East and North Africa region.
Quadrant buys Australia sleepwear brand
Quadrant Private Equity has acquired Australian women’s sleepwear brand Papinelle for an undisclosed sum with plans for international expansion.