Consumer
Vietnam’s Mekong closes Fund IV at $246m
Vietnamese private equity firm Mekong Capital has closed its fourth flagship middle-market fund at $246 million, more than twice the size of its predecessor vehicle.
China bubble tea chain Naixuecha raises Series C
Naixuecha, a China-based bubble tea chain that also goes by the name Nayuki, has raised a Series C funding round led by PAG.
Silver Lake joins $3.3b investment in China's TAL Education
Silver Lake has led a $2.3 billion investment in TAL Education Group, a US-listed Chinese after-school education provider, via a convertible notes issue.
Delivery Hero wins approval for Woowa deal in Korea
Private equity investors in Korean food delivery business Woowa Brothers look set for a liquidity event after regulators gave conditional approval for a $4 billion acquisition by Delivery Hero.
China's Zuoyebang gets $1.6b Series E extension
Zuoyebang, which claims to be China’s largest online education company, has secured $1.6 billion in an extended Series E funding round that features Alibaba Group as a new investor.
Google joins $145m round for India's Glance
Google has joined a $145 million round for Glance, an Indian smart phone services provider specializing in media content that launches on a locked home screen when a handset is illuminated.
OTPP backs Korean fried chicken chain at $1.6b valuation
Ontario Teachers’ Pension Plan (OTPP) has invested in Korean fried chicken restaurant franchisor BHC Group at an enterprise valuation of KRW1.8 trillion ($1.6 billion), facilitating a full exit for Elevation Equity Partners.
Partners Group invests $250m in India's Ecom Express
Partners Group has committed at least $250 million to Indian door-to-door delivery specialist Ecom Express, facilitating a partial exit for controlling shareholder Warburg Pincus.
Advantage, Tokyo Century agree Japan health foods deal
Advantage Partners has teamed up with Tokyo Century Corp. and Japanese strategic Euglena to acquire Q’Sai, a local health foods and cosmetics business, from Coca-Cola Bottlers Japan Holdings.
ClearVue backs China-focused pet lifestyle brand
ClearVue Partners has led a $20 million Series B round for Vetreska, a US-headquartered and China-focused pet lifestyle brand.
China's Yonghui gets $153m for fresh produce spin-out
Tencent Holdings and CICC Capital have led a RMB1 billion ($153 million) round for Caishixian, a B2B supply chain platform incubated by Yonghui Superstores, a leading Chinese supermarket chain.
PE-backed Pop Mart posts strong gain after $674m HK IPO
Pop Mart International Group, China’s largest fashion toy retailer, gained 79% on its Hong Kong trading debut following a HK$5.22 billion ($674 million) IPO.
Government funds back Chinese online grocer Miss Fresh
Chinese online grocer Miss Fresh has raised RMB2 billion ($305 million) from three Qingdao government-related funds to support expansion in the city on China's eastern seaboard.
ZWC hits $400m first close on China fund
Chinese venture capital firm ZWC Partners has completed a first close of $400 million on its second US dollar-denominated fund. The full target is $450 million.
Japan’s JIC invests four local start-ups
Japan Investment Corporation (JIC) has backed four local start-ups via its new VC unit. This includes a JPY3 billion ($29 million) commitment to business digitization consultant Monstar Lab.
Asia Partners leads $30m Series D for Malaysia's Carsome
Singapore-based Asia Partners has a led a $30 million all-equity Series D round for Malaysian used car trading platform Carsome.
Asia travel & hospitality: Ready to board?
The outlook for international tourism remains uncertain, but this hasn’t stopped some private equity and venture capital investors targeting travel and hospitality assets in Asia. It pays to be selective
China retail SaaS provider Huice secures $100m Series C
Huice, a China-based provider of software for retailers, has raised nearly $100 million in Series C funding led by Singapore’s GIC. GL Ventures, Legend Capital and SoftBank Ventures Asia also participated in the round.
Singapore's Velocity Ventures launches travel fund
Velocity Ventures, a Singapore-based VC firm focused on travel and hospitality, has launched its debut early-stage fund targeting Southeast Asia with a target of $20 million.
Anacacia makes another Australia e-commerce play
Australia’s Anacacia Capital has made its second foray into e-commerce in a fortnight with the acquisition of a majority interest in Mwave, an online video gaming and PC hardware retailer.
Deal focus: Speed pays off for Ince with Eeo
Ince Capital's $35 million investment in Eeo Education's Series B round is the largest from its debut fund. The GP has since re-upped in a $265 million Series C at twice the valuation
TPG, Northstar commit $236m to Japfa's SE Asia dairy business
TPG Capital and Northstar have agreed to pay $236 million for an 80% stake in the Southeast Asia consumer dairy operation of Singapore-listed agribusiness giant Japfa.
MBK credit fund to join PE fund on CAR investor roster
MBK Partners has agreed to subscribe to $175 million in convertible bonds issued by China Auto Rental (CAR). It follows a large commitment and a take-private offer by MBK last month.
KV Asia exits Malaysian grocery retailer to ICG
Southeast Asia-focused private equity firm KV Asia Capital has exited TF Value Mart (TFVM), a Malaysia-based grocery retailer in which it has held a controlling stake since 2016, to Intermediate Capital Group (ICG).