Consumer
China's PE-backed Ele.me merges with Baidu Waimai
Ele.me, a Chinese food delivery ordering platform backed by Alibaba Holdings and several private equity investors, has confirmed its merger with Baidu Waimai, the food delivery business of Chinese internet giant Baidu.
Everstone exits Canada's Faces to Sequoia
India-based GP Everstone Capital has fully exited Canadian skincare and makeup company Faces Cosmetics Canada to Sequoia Capital India.
VCs in $30m round for China car sales platform
Welight Capital, a China-based venture capital firm founded by former Tencent Holdings executives, has led a RMB200 million ($30 million) Series B round for Maihaoche.com, a Chinese new car sales platform. Northern Light Venture Capital also participated.
China’s VIPKid raises $200m Series D
VIPKid, a China-based English-language learning platform backed by VC investors, has completed a $200 million Series D round of funding, in what the company claims is the largest investment in the K-12 education space globally.
Banyan Capital leads $21m round for China food brand
Hot Life, a Chinese online-to-offline food brand that sells spicy crayfish, has completed a RMB140 million ($21 million) Series B round led by Banyan Capital. Matrix Partners and N5 Capital also participated.
Cathay Capital leads $15m round for China’s Magmode
Magmode, a China-based men’s fashion start-up, has raised $15 million in the second tranche of a Series B round led by Cathay Capital Private Equity. Existing investor Sinovation Ventures also participated.
CDH to invest in US housewares maker SharkNinja
China-focused private equity firm CDH Investments has agreed to invest in US-based SharkNinja, taking a significant stake in the small home appliances supplier for an undisclosed sum.
Alibaba leads $1.1b round for Indonesia’s Tokopedia
Tokopedia, a venture capital-backed online marketplace in Indonesia, has received a $1.1 billion funding round led by Alibaba Group that will see the Chinese e-commerce giant become a minority stakeholder.
VCs invest $27 million in Indonesia's Sale Stock
A number of Asian venture capital firms have contributed to an extended $27 million Series B funding round for Indonesian e-commerce player Sale Stock.
Singapore’s Obike raises $45m Series B
Obike, a Singapore-based bike-sharing start-up, has secured a $45 million Series B round of funding.
India's PE-backed Barbeque Nation files for IPO
Indian restaurant chain Barbeque Nation Hospitality has filed for an IPO that will provide an exit for its private equity backer CX Partners.
Portfolio: The Rohatyn Group and BHC
The Rohatyn Group bought Korean fried chicken franchise BHC in 2013 with a view to ironing out inefficiencies, broadening brand appeal, and pursuing bolt-on acquisitions. It has made progress in each area
H Capital leads $150m round for China’s Zuoyebang
H Capital has led a $150 million Series C round of funding for Zuoyebang, a K-12 focused education mobile app that spun out from Chinese online search engine Baidu.
Mekong commits $4.9m to Vietnam education provider
Mekong Capital has invested $4.9 million for a minority stake in Yola, a Vietnam-based education services provider specializing in overseas test preparation and English language training.
Mandarin acquires Italian ceramics business
Europe-Asia cross-border private equity firm Mandarin Capital Partners has acquired a 100% stake in Italian household ceramics supplier Elios Ceramica.
Chinese GPs back sports marketing player Mailman
Mailman, a sports-focused digital marketing agency in Shanghai, has completed an extended Series A round of funding worth $3 million from Yao Capital and Kaixing Capital.
CLSA-backed BC Ings makes Japan education bolt-on
BC Ings, a Japanese cram school operator owned by CLSA Capital Partners (CLSA CP), has acquired local counterpart Akasaka Gakuin.
SoftBank invests $2.5b in India's Flipkart
Japanese technology conglomerate SoftBank Group has invested $2.5 billion in Indian e-commerce giant Flipkart through the acquisition of primary and secondary shares.
China B2B fabrics trading app Baibu secures $25m
Chinese VC firm Yunqi Partners has led a RMB165 million ($25 million) extended Series B round for Baibu, a textile and fabrics B2B trading platform.
China dairy: Gone sour?
China’s dairy industry has experienced a dramatic fall from grace, driven by overhype at home and lower prices overseas. Investors that got in at the top of the market are considering their options
Sino-US Tang Media Partners acquires Open Road Films
Tang Media Partners (TMP), a Sino-US media and entertainment investment group, has finalized its acquisition of Open Road Films, an independent film distributor and producer owned by US-based AMC Entertainment and Regal Entertainment Group.
Blue Sky buys New Zealand tour operator
A consortium led by Blue Sky Alternative Investments has bought Active Adventures, a New Zealand-based company that offers guided activity-based trips in Nepal, Europe, and South America, as well as in its home country.
China’s Gu Sheng Tang raises $150m in equity, debt funding
Gu Sheng Tang, a traditional Chinese medicine (TCM) clinic chain, has raised RMB1.01 billion ($150 million) in a Series D round comprising RMB510 million in equity and RMB500 million in debt.
Alibaba fund invests in Hong Kong bike-sharing service
Hong Kong bike-sharing start-up Gobee Bike has raised a $9 million Series A round from investors including the Alibaba Group’s Hong Kong Entrepreneurs Fund.