Industrials
Chinese EV battery maker raises $120m in pre-IPO round
Phylion Battery, a China-based manufacturer or lithium-ion batteries used in electric vehicles (EV), has raised RMB810 million ($120 million) in a pre-IPO round led by Yingke Private Equity.
GSR United leads $40m round for China's Chezhubang
GSR United Capital and Zero2IPO Investment have led a Series B round of RMB275 million ($40 million) for China-based Chezhubang, operator of an app that helps drivers locate gas stations and electric vehicle charging points and also pay for fuel.
Affinity-backed Leong Hup seeks up to $288m in Malaysia IPO
Affinity Equity Partners is set to make a partial exit from Leong Hup International as the Malaysian poultry producer looks to raise up to MYR1.19 billion ($288 million) in a domestic IPO.
Singapore biomaterials player gets $22m
RWDC Industries, a Singapore-based materials developer focused on biodegradable plastics, has raised $22 million from a group of investors including Vickers Venture Partners.
Blackstone to acquire India's Essel Propack
The Blackstone Group has agreed to acquire a majority stake in Indian packaging company Essel Propack (EPL) in a deal that could see the private equity firm pay as much as INR32.1 billion ($461 million).
Chinese new energy vehicle maker Enovate raises $298m
China-based Enovate, which designs and produces new energy-powered vehicles, has raised RMB2 billion ($298 million) in a Series A round.
Legend leads round for Chinese self-driving tech specialist
China and US-based autonomous driving technology developer Black Sesame has completed its Series B round of funding, raising around $100 million led by Junhai Chuangxin, an investment vehicle under Legend Capital.
China’s Pony.ai to receive $50m from Beijing Kunlun Tech
China and US-based autonomous driving technology developer Pony.ai will receive $50 million from listed internet company Beijing Kunlun Tech in a deal that values the business at approximately $1.7 billion.
INCJ leads $230m round for Japan's JOLED
Innovation Network Corporation of Japan (INCJ) has led a JPY25.5 billion ($230 million) round for domestic display screen manufacturer and technology developer JOLED.
Source Code leads round for China machinery rental business
China-based Zhongneng United, which rents out aerial work platforms that provide temporary access to inaccessible areas, has raised $50 million in Series B funding led by Source Code Capital.
Chinese industrial robotics player Emergen raises $30m
Qiming Venture Partners has led a RMB200 million ($30 million) Series B round for Emergen, a Chinese company that designs intelligent operating systems for factories and produces industrial robots.
CICC-TPG fund acquires French auto supplier
China Synergy Fund, the dual currency investment vehicle established earlier this year by TPG Capital and CICC Capital, has agreed to acquire Electropoli, a provider of surface treatment services, from French automotive conglomerate Impala Group.
Deal focus: Guochen looks to the future
Chinese industrial robotics developer and incubator Guochen raises $15 million in Series A funding to continue pushing China's robotics industry to greater heights
CDIB makes $61m tender offer for Taiwan's Jintex
CDIB Capital, the private equity arm of China Development Financial, has launched a tender offer for Taiwan-based chemical producer Jintex that values the company at NT$1.87 billion ($60.5 million).
Southeast Asia manufacturing: Back in the game
Contract manufacturers are reconsidering their exposure to China in the light of trade tensions with the US. Southeast Asia stands to benefit, but companies will have to navigate an increasingly complicated landscape
CHAMP PE buys Australian defense sector supplier
CHAMP Private Equity is set to become the first Australian GP to invest in a company with significant exposure to the local defense sector, following an agreement to acquire a majority stake in Marand Precision Engineering.
NewMargin Ventures launches $1.5b RMB fund
Shanghai-based NewMargin Ventures is looking to raise up to RMB10 billion ($1.5 billion) for a renminbi-denominated fund that will focus on the defense sector.
Carlyle buys stake in Chinese textiles manufacturer
The Carlyle Group has agreed to invest RMB726 million ($108 million) for a 10% stake in Chinese home textiles maker Luolai Lifestyle Technology.
China B2B trading platforms: Business friendly
Online B2B trading platforms have the potential to bring efficiency and pricing transparency to the more fragmented segments of China’s industrial economy. It’s all about picking the right vertical at the right time
UK-based CD Capital acquires Australia's Verdant Minerals
CD Capital, a natural resources and mining-focused private equity firm based in the UK, has agreed to acquire Australian mining operation Verdant Minerals in a deal that values the company at A$40.5 million ($28.6 million).
Baidu Capital leads $466m Series C for China’s WM Motor
WM Motor Technology, a Chinese electric vehicle manufacturer, has raised RMB3 billion ($466 million) in a Series C round of funding led by existing investor Baidu Capital.
China cross-border logistics provider raises $104m
Fujian Zongteng Network, a provider of overseas storage and transportation services for Chinese e-commerce players, has raised a RMB700 million ($104 million) round led by GLP and Cathay Capital.
Tiger, Matrix lead $56m round for EV spin-out of India's Ola
Tiger Global Management and Matrix Partners India have co-led a INR4 billion ($56.3 million) investment in an independent electric vehicle (EV) company spun out from Indian ride-hailing platform Ola.
Affinity secures third Korea deal in three months
Affinity Equity Partners has announced its third Korea deal in as many months with an agreement to acquire a majority stake in ServeOne, LG Group’s maintenance, repair and operation (MRO) unit, for KRW602 billion ($535 million).