Consumer
Chinese auto financing site raises $92m Series B round
Meliche Jinrong, the online auto finance subsidiary of Chinese consumer loans site Meili Jinrong, has raised a $92 million Series B round led by local agribusiness player New Hope Group.
Japan's Polaris to buy Fujitsu mobile phone unit
Japanese middle market GP Polaris Capital has agreed its second corporate carve-out in three months with a deal to buy Fujitsu’s mobile devices business.
Proterra buys Australia agriculture assets
One Tree Agriculture, an Australia-based agriculture investor owned by Proterra Investment Partners, has purchased three farm properties in New South Wales.
Ping An healthcare app files for Hong Kong IPO
Ping An Healthcare & Technology - the PE-backed business that runs the healthcare-focused mobile app known as Ping An Good Doctor in China - is seeking a separate listing in Hong Kong from its parent company Ping An Insurance.
Creador invests in Vietnam's Mobile World
Creador has completed its first investment in Vietnam, committing VND994 billion ($43.8 million) to Mobile World, the country’s leading mobile device and consumer electronics retailer.
China electric car maker Xpeng raises $348m
Xpeng Motors, a Chinese electric car manufacturer, has completed a RMB2.2 billion ($348 million) Series B round of funding led by Alibaba Group, Foxconn Technology Group, and IDG Capital.
TPG acquires China hotel assets
TPG Capital, along with Chinese hotel manager China Lodging Group, has acquired two Beijing hotels for RMB1.2 billion ($186 million).
Mekong secures final exit from Vietnam's Mobile World
Mekong Capital has ended its more than 10-year association with Vietnamese mobile phone retailer Mobile World, completing the last of multiple partial exits to secure an overall return on its investment of 57x.
Vertex leads $5m round for Malaysia's StoreHub
StoreHub, a Malaysia-based business that helps retailers digitize their operations, has raised a $5.1 million Series A round of funding led by Vertex Ventures.
Affinity, BRV support Shinsegae e-commerce spin-out
Affinity Equity Partners and BRV Capital Management are supporting a spin-out of assets owned by South Korean retail conglomerate Shinsegae Group, which will see more than KRW1 trillion ($940 million) invested in a new e-commerce unit.
Unilever invests in online India grocery market
Unilever Ventures, the corporate VC arm of Unilever, has committed $3 million in pre-Series A funding to Indian grocery delivery start-up Milkbasket.
PremjiInvest leads $48m round for India's Shubham
PremjiInvest, the family office of Wipro Group chairman Azim Premji, has led a INR3.1 billion ($48 million) funding round for Indian mortgage lender Shubham Housing Development Finance, providing an exit for Accion International and Saama Capital.
Japan's J-Star announces trio of investments
Japan’s J-Star has continued the rapid deployment of its third fund, securing buyouts across the lifestyle retail, recycling, and fire safety equipment manufacturing spaces.
Deal focus: Quadrant finds a taste for candy
Leveraging a relationship established through an investment in VIP Petfoods, Quadrant Private Equity secured a buyout of Australian candy maker Darrell Lea
GLP leads $36m round for China’s Songxiaocai
Warehouse operator Global Logistic Properties (GLP) has led a RMB230 million ($36 million) investment in Songxiaocai, a business-to-business (B2B) platform that provides agricultural wholesale services to Chinese retailers.
Joy leads $20m round for Chinese e-commerce site
Joy Capital has led a $20 million round of funding for The Good Stuff, an e-commerce start-up that uses online influencers to sell products.
VCs commit $30m to Japanese recipe-sharing start-up
SoftBank and YJ Capital have taken part in a JPY3.4 billion ($30.2 million) funding round for Japanese online food media start-up Dely.
Alibaba's Taiwan fund backs fitness brand
Space Cycle, a boutique fitness studio chain operating in mainland China and Taiwan, has raised a RMB100 million ($15.6 million) Series B round of funding led by Alibaba Taiwan Entrepreneurs Fund.
Temasek leads Series C for China home automation player
Singapore’s Temasek Holdings has led a Series C round of undisclosed size for Rokid, a Chinese artificial intelligence (AI) developer focused on home automation devices.
Ekuinas exits Malaysia’s Tenby Education
Malaysian government-backed private equity investor Ekuinas has exited its majority stake in private school chain Tenby Education Group to International Schools Partnership (ISP).
Deal focus: VCs see value in secondhand luxury
Chinese online pre-owned luxury goods retailer Xinshang aims for scale with investments from GGV Capital, Joy Capital and Northern Light Venture Capital
Deal focus: KV secures its biggest buyout
KV Asia Capital sees strong growth potential for the education sector in Southeast Asia. The firm’s latest investment in Malaysia-based APIIT Education Group reflects confidence in this vision
Fosun Capital leads $80m Series B for China’s BingoBox
BingoBox, a Chinese unmanned convenience store operator, has raised an $80 million Series B round of funding led by Fosun Capital. Existing investors Prometheus Capital, Qiming Venture Partners, GGV Capital and Ventech China also took part.
Deal focus: Cream of the crop
Proterra is on course to more than double its money on AustAsia, following an agreement to exit the Chinese dairy farm operator to fellow investor Japfa