Financials
IFC proposes $100m investment in China insurance firm
The International Finance Corporation (IFC), the investment arm of the World Bank, is considering an equity investment of up to RMB690 million ($100 million) in Chinese insurance firm Union Life Insurance.
TCV invests $20m in New Zealand's Xero, Martix part exits
US venture capital firm Technology Crossover Ventures (TCV) has invested NZ$28.5 million ($20 million) in New Zealand-listed accounting software company Xero. It will facilitate a partial exit for existing backer Matrix Capital.
Ant Financial raises offer for PE-backed MoneyGram
Alibaba Group's Ant Financial has raised its takeover bid for US-listed financial services company MoneyGram, topping a competing offer made by US-based Euronet Worldwide last month. The sale will provide an exit for Thomas H. Lee Partners (THL).
VCs back Filipino fintech start-up
Philippines-based financial technology company First Circle has received $2.5 million from a group of VC firms, including a seed stage investment unit of emerging markets microfinance group Accion International.
NZ Super joins $172m investment in Kiwibank
New Zealand Superannuation Fund (NZ Super) has participated in a NZ$247 million ($172 million) investment in Kiwibank, a banking and finance services provider controlled by New Zealand Post.
True North-led group to buy Religare Health Insurance for $162m
A consortium led by True North Managers will buy a majority stake in India’s Religare Health Insurance (RHI) for INR10.4 billion ($162 million).
Dragon Capital sets up microfinance business in Myanmar
Vietnam-based private equity firm Dragon Capital has made its first investment in Myanmar, teaming up with a local strategic partner to seed a Yangon-based microfinance services business.
Deal focus: PE proves the right fit for fintech
Creador has exited its stake in Malaysian financial technology company GHL Group to Actis after scanning a field of strategics and deciding PE was the best backer for the sector
China credit assessment platform Wecash gets $80m
Wecash, a Chinese financial technology company that provides credit evaluations online, has completed an $80 million Series C round jointly led by China Merchants Venture Capital, Forebright Capital and SIG Asia.
VCs back China female-focused consumer finance start-up
Shanghai Mime Financial, a consumer finance platform targeting the young females in China, has raised a Series C round led by domestic investors Haier Capital, Xiyu Capital and Panda Capital.
Actis invests in Malaysia's GHL, Creador exits
Emerging markets-focused private equity firm Actis has invested MYR290 million ($65.6 million) in Malaysia-listed payment services provider GHL Group, facilitating a full exit for Creador.
IFC proposes $20m investment in Indian MFI
The International Finance Corporation (IFC), the investment arm of the World Bank, is considering a $20 million investment in Indian microfinance institution (MFI) RGVN Microfinance.
Apax commits $388m to Guotai Junan's Hong Kong IPO
Apax Partners has agreed to invest $388 million in Guotai Junan Securities as the largest cornerstone investor in the Chinese brokerage’s HK$16.5 billion ($2.1 billion) Hong Kong IPO.
China personal lending platform Yongqianbao raises $68m
Yongqianbao, a Chinese mobile app that provides personal loan services, has raised a RMB466 million ($68 million) Series C round co-led by Golden Brick Capital and CICC Alpha.
China Growth Capital leads $14m round for Tiger Brokers
China Growth Capital has led an extended Series B round worth RMB100 million ($14 million) for Tiger Brokers, a Beijing-based online brokerage start-up, with participation from existing investor ZhenFund.
Singapore auto marketplace Carro gets $12m
A group of Southeast Asian VCs have committed $12 million to Singaporean automobile marketplace Carro as part of an operational expansion into artificial intelligence (AI)-enabled car financing services.
China real estate financial services player Dadao raises $29m
Shenzhen Qianhai Dadao Financial Services, a Chinese start-up that specializes in residential property financial services, has raised a RMB200 million ($29 million) Series B round led by Huaxing Capital Partners, the private equity arm of China Renaissance....
Japan's Moneytree raises $9m Series B
Japan-based SBI investment has led a JPY1 billion ($9 million) Series B funding round for domestic financial technology services company Moneytree.
Italian PE unit backs Morrow Sodali's purchase of Australia's GPS
GPS, an Australia-based shareholder services and corporate governance consultancy, has been acquired by global counterpart Morrow Sodali in a deal supported by Italian government-controlled PE investment unit Simest.
Everstone, Mayfield, others part exit India's SLCM
Everstone Capital, Mayfield Advisors, Nexus Venture Partners and ICICI Bank have part exited their stakes in Indian agricultural logistics and financing firm Sohan Lal Commodity Management (SLCM).
Thailand's Bangkok Bank launches fintech accelerator
Bangkok Bank has launched a start-up accelerator to support financial technology development in Thailand. Hong Kong venture investor Nest will co-manage the program.
Actis part exits India's IDFC for $17m
Actis Capital has exited most of its stake in Indian infrastructure finance lender Infrastructure Development Finance Company (IDFC) for INR1.1 billion ($16.9 million).
Deal focus: PayPal backs Korean counterpart Viva Republica
Viva Republica has confirmed its preeminence in Korea's peer-to-peer payments space with rival provider PayPal joining existing investors in the company's $48 million Series C round
ADB to invest $10m in India's Satin Creditcare
The Asian Development Bank (ADB) will invest up to INR667 million ($10.1 million) in Indian microfinance institution (MFI) Satin Creditcare Network.