Industrials
Asia-IO, Wise Road invest in HK semiconductor supplier
Private equity firms Asia-IO Capital and Wise Road Capital have acquired a 55.6% stake in a semiconductor packaging materials business from Hong Kong-listed ASM Pacific Technology.
Korean strategic, financial investors back industrial AI start-up
MakinaRocks, a Korean artificial intelligence (AI) start-up that helps manufacturers achieve production efficiencies through the application of deep learning technology, has raised KRW12 billion ($10 million) in Series A funding.
Blackbird joins $18m round for Australia's Propeller
Blackbird Ventures has joined a A$26 million ($18.3 million) round for Propeller Aero, an Australian data analytics provider focused on drone surveying at industrial worksites.
Hillhouse invests $1.5b in Chinese EV battery maker
Hillhouse Capital has invested RMB10.6 billion ($1.5 billion) in Chinese electric vehicle (EV) battery manufacturer Contemporary Amperex Technology (CATL). It is part of a RMB19.7 billion capital raise by the Shenzhen-listed company.
KKR backs Australia environment services player
KKR has made an investment of undisclosed size in GreenCollar, an environmental services provider that helped establish Australia’s carbon credit market.
China EV maker Li Auto pursues US listing
Li Auto, a Chinese electric vehicle manufacturer that has been backed by online-to-offline (O2O) services giant Meituan Dianping, has filed for a US IPO.
Australia cleantech start-up secures $7m
Horizons Ventures – a VC firm controlled by Hong Kong billionaire Li Ka-shing – has joined a A$10 million ($7 million) round for an Australian start-up specializing in fungi-based carbon capture technology.
China establishes $5b SME support fund
China has launched a government guidance fund intended to support small and medium-sized enterprises (SMEs) with initial capital commitments of RMB35.75 billion ($5 billion).
Toshiba seeks exit from PE-controlled flash memory business
Toshiba is exploring ways to fully exit its 40.2% stake in Kioxa Holdings, two years after selling control of the Japanese flash memory division to a Bain Capital-led consortium for an enterprise valuation of JPY2 trillion ($18.7 billion).
Chinese car parts supplier Casstime raises $50m
Chinese aftermarket car parts supplier Casstime has raised $50 million in the second tranche of Series C round led by Greater Bay Area Homeland Investments.
China logistics robot specialist raises $200m Series C
Geek+, a manufacturer of robots used to move merchandise around warehouses, has closed a Series C funding round, having raised $200 million across two tranches.
Fund focus: Cathay taps strategic expertise in energy
Cathay Capital Private Equity is raising what it claims is China's first-ever smart energy fund, relying on contributions from LPs that offer strategic as well as financial support
ESR raises $1b Korea logistics fund
Pan-Asian logistics investor ESR has raised $1 billion for its second Korea fund with support from APG Asset Management and Canada Pension Plan Investment Board (CPPIB).
China auto parts supplier Mancando gets $57m Series B
Mancando, a Chinese automotive parts supplier, has raised a RMB400 million ($56.6 million) Series B round led by Huaxing Growth Capital. Xiang He Capital, Axiom Asia Private Capital and Oriza FoF also took part.
Mubadala to invest $1.2b in India's Jio Platforms
Abu Dhabi sovereign wealth fund Mubadala has agreed to invest INR90.9 billion ($1.2 billion) in Jio Platforms, the holding company for various internet and telecom assets owned by Indian oil-to-retail conglomerate Reliance Industries.
OPTrust joins consortium bidding for Australia's Zenith Energy
Canadian pension fund OPTrust has joined Pacific Equity Partners in the consortium looking to buy Australia-listed off-grid power provider Zenith Energy for an enterprise valuation of A$250 million ($163 million).
KKR-backed IndiGrid acquires $41m transmission asset
India Grid Trust (IndiGrid), an infrastructure investment trust backed by KKR and GIC Private, has acquired a power distribution company in north India for INR3.1 billion ($134 million).
KKR targets stake in Philippine power developer
KKR has offered to acquire up to 9% of First Gen Corporation, a power plant operator in the Philippines, for PHP7.29 billion ($144 million).
KKR, Japanese banks pump $1.2b into Marelli
Marelli, a leading global automotive components supplier formed when KKR combined Japan’s Calsonic Kansei Corporation with Europe-based Magneti Marelli, has secured JPY130 billion ($1.2 billion) in additional funding to ride out a market downturn.
IDG, Accel back take-private of Hong Kong’s Sky Solar
IDG Capital Partners and Accel Partners have joined a take-private bid for Sky Solar Holdings that values the Hong Kong-based and NASDAQ-listed power provider at around $2.5 billion.
China smart logistics provider Galaxis raises $14m
Chinese logistics robot and intelligent equipment supplier Galaxis Technology has raised RMB100 million ($14 million) in Series D funding led by China Capital Investment Group.
Shaw Kwei invests in Hong Kong cosmetics industry supplier
Shaw Kwei & Partners has announced an investment in International Cosmetics Suppliers (ICS), a Hong Kong-based packaging specialist for the global beauty industry.
IAG invests in Australia agtech player
Insurance Australia Group (IAG) has made an investment of undisclosed size in local start-up Digital Agriculture Services (DAS) via its VC unit Firemark Ventures.
China's JD.com raises $230m for MRO unit
JD MRO, a subsidiary of Chinese e-commerce giant JD.com that specializes in industrial maintenance, repair and operations (MRO), has raised $230 million in Series A funding led by GGV Capital.
