Consumer
Australia's BGH backs online travel agent
BGH Capital has invested an undisclosed sum in TripADeal, an online travel agent that caters to the Australia and New Zealand markets.
Blackstone makes $253m part-exit from India's Essel Propack
The Blackstone Group has made a partial exit from Indian packaging manufacturer Essel Propack (EPL) – which provides the tubes to 40% of the world’s toothpaste – generating proceeds of INR18.6 billion ($253.4 million).
China rebound favors the few - AVCJ Forum
China’s economy has rebounded from COVID-19 faster than most others, but the pandemic has exposed a widening wealth gap in the country, industry participants told the AVCJ China Forum.
Chinese educational platform Lele Ketang raises $40m
Lele Ketang, a Chinese K12 education platform, has raised a $40 million Series C round led by Owl Ventures, the largest education-focused VC in the US.
Naver leads $80m round for Singapore's Carousell
Korean internet conglomerate Naver has led an $80 million round for Singapore’s Carousell, a mobile classifieds marketplace, at a valuation of $900 million.
CLSA acquires Japan fitness club operator
CLSA Capital Partners (CLSA CP) has acquired Japanese 24-hour fitness club operator Worldplus for an undisclosed sum.
India fantasy sports platform raises $225m
TPG – acting through its tech adjacencies strategy – Tiger Global Management, ChrysCapital Partners, and Footpath Ventures have led a $225 million round for Dream Sports, operator of India’s largest fantasy sports platform.
Bain pursues $374m acquisition of Japan pharmacy business
Bain Capital has agreed to acquire Japanese pharmacy chain store operator Kirindo Holdings through a tender offer that values the business at JPY39.7 billion ($374 million).
China fresh produce retail: Changing channels
From online grocers to group buying platforms, capital is pouring into China’s fresh produce space as e-commerce finally makes it mark. Which business model will prevail?
Tiger, Temasek commit $160m to India's Zomato
Tiger Global Management and Temasek Holdings have contributed $160 million to an ongoing Series J round for India-based food delivery company Zomato.
PAG exits Young Toys to Korean strategic buyer
PAG Asia Capital has sold Young Toys, a South Korea-based toy manufacturer it has owned since 2015, to a consortium led by MiraeN Group, a leading local publisher.
Silver Lake invests $1b in India's Reliance Retail
Silver Lake has made its second big bet on India in a week – and its third in four months – with a $1 billion commitment to the retail unit of Reliance Industries.
Navis sells Australia education business to PEP
Navis Capital Partners has sold Australian educational resources provider Modern Star to local private equity firm Pacific Equity Partners (PEP) at an enterprise valuation of about A$600 million ($433 million).
Silver Lake backs India edtech player Byju's
Silver Lake has extended a string of large investments for India-based education technology platform Byju’s at a valuation of around $11 billion.
GPs sell Wall Street English China business back to founder
Baring Private Equity Asia and CITIC Capital have sold the China-based assets of English language training provider Wall Street English (WSE) back to the original founder after COVID-19 called into question the business model.
Ex-L Catterton Asia head Ravi Thakran launches SPAC
Ravi Thakran, formerly head of L Catterton’s Asia operation, has launched a US-listed special purpose acquisition company (SPAC) to pursue aspirational consumer brands.
CVC to exit Softex Indonesia with 3.3x return - update
CVC Capital Partners will exit personal care products manufacturer Softex Indonesia after US multinational Kimberly-Clark agreed to acquire the business for approximately $1.2 billion.
Singapore's Livspace raises $90m Series D
Singapore-based home interiors renovation platform Livspace has raised a $90 million Series D round featuring TPG Growth and Goldman Sachs.
SoftBank leads $150m round for India's Unacademy
SoftBank has led a $150 million round for Indian education technology provider Unacademy, confirming the start-up’s unicorn status with a valuation around $1.4 billion.
Sequoia leads Series B for Chinese coffee brand
Saturnbird, a Chinese coffee brand, has raised more than RMB100 million（$14 million) in a Series B funding round led by Sequoia Capital China. Existing backer Frees Fund re-upped.
TPG, KKR invest $220m in Singapore’s PropertyGuru
Singapore-based real estate portal PropertyGuru has confirmed S$300 million ($220 million) in new commitments from existing backers TPG Capital and KKR.
Indian edtech player Eruditus gets $113m Series D
Eruditus, an Indian education technology provider focused on working professionals, has raised a $113 million Series D round featuring Sequoia Capital India.
NSSK buys Japanese sports nutrition business
NSSK has acquired the sports nutrition division of Japan’s Dome Corporation, which is best known as the local distributor for US sportswear brand Under Armour.
Ekuinas exits Malaysia halal meats business
Malaysian government-backed private equity firm Ekuinas has sold Primabaguz, a local producer of premium halal meat-based products, to US-based Johnsonville International for MYR175 million ($42 million).