Industrials
Japan's PowerX raises $32m Series B
PowerX, a Japanese start-up developing a “battery tanker” for shipping stored renewable electricity across oceans, has raised a USD 32m Series B round featuring US-based Translink Capital.
Vietnam's VinFast completes SPAC merger, sees volatile trading debut
Vietnam-based electric vehicle (EV) manufacturer VinFast saw its stock climb 287% and then fall back by 47% during the first two days of trading following one of the largest mergers to date with a US-listed special purpose acquisition company (SPAC)....
China 3D printing player Boston Micro gets $24m Series D
China and US-based microscale 3D printing company Boston Micro Fabrication has raised USD 24m in Series D funding led by Guotai Junan Securities.
Cathay leads Series C for China's Unisun Energy
Cathay Capital has led a Series C round of undisclosed size for Unisun Energy, a China-based green power service provider for industrial and commercial sites.
BlackRock, New Zealand launch $1.2b climate fund
BlackRock will manage a climate fund launched alongside the New Zealand government with a target of NZD 2bn (USD 1.2bn). It will focus on renewable energy.
GLP closes $556m renminbi clean energy fund
GLP Capital Partners, an alternatives fund manager controlled by warehouse operator turned logistics and infrastructure investment manager GLP, has closed a CNY 4bn (USD 556m) China clean energy fund.
FMO invests $24m in Suminter India Organics
Netherlands-based development finance institution FMO has agreed to invest USD 24.3m in Suminter India Organics, a company that helps farmers grow and process organic foods with ethical practices.
Deal focus: AGIC eyes beauty with industrial characteristics
Pure Trade runs a network of third-party manufacturers that provide packaging to global beauty brands. AGIC saw an asset that sat neatly in its Asia-Europe industrial supply chain sweet spot
Australian mining tech start-up Plotlogic raises $28m
Australian mining technology start-up Plotlogic has raised a USD 28m Series B round led by US impact investor Galvanize Climate Solutions and Schneider Electric’s SE Ventures.
DCP sells MFS Technology to Chinese strategic for $460m
DCP Capital Partners has agreed to sell MFS Technology, a manufacturer of customised printed circuit boards (PCB) that has a presence across Asia, to Shenzhen-listed Victory Giant Technology for USD 460m.
TDK backs India smart factory start-up
TDK Ventures has invested an undisclosed sum in India’s Infinite Uptime in an apparent extension of a Series B round that has raised more than USD 24m to date.
AGIC buys French beauty packaging player
AGIC Capital, a specialist in Asia-Europe cross-border deals, has acquired Pure Trade, a Paris-headquartered packaging supplier to the global beauty industry.
China polymer specialist Topolefin secures $139m Series B
Chinese polymer materials developer Topolefin Technology has raised CNY 1bn (USD 139m) in Series B funding led by local private equity firms Raystone Capital and KingRay Capital.
Q&A: SparkEdge Capital's Linc Liu
Linc Liu, founding partner and chairman of SparkEdge Capital, a sector specialist formerly known as Ori-mind Capital, discusses new energy investment opportunities in China
Deal focus: Exfinity seizes rare India robotics opportunity
India’s Exfinity Ventures stepped out of its comfort zone with Ati Motors. Now it’s helping the industrial robotics supplier go global with autonomous forklift-style machines that can roll in and out of buildings
Strategic co-investors commit to JIP's mega Toshiba buyout
Rohm Semiconductor and Niterra, component suppliers to the semiconductor and automotive industries, respectively, have confirmed their participation in the Japan Industrial Partners-led (JIP) JPY 2trn (USD 15.3bn) tender offer for Toshiba Corporation....
Korean investors pump $150m into fuel cell maker HyAxiom
Korea Investment Private Equity, KDB Investment–Hana Securities, and KB Asset Management have led an investment of approximately USD 150m in HyAxiom, a fuel cell manufacturer controlled by South Korean conglomerate Doosan Group.
Boyu joins $600m round for EV unit of China's Geely
Boyu Capital and Yuexiu Industrial Fund have led a USD 600m Series A round for Farizon Auto, a new energy vehicle (NEV) brand under Chinese automaker Geely.
Asia fundraising frustrates in first half of 2023
Asia PE fundraising reached USD 60.3bn in the first half of 2023, down 7.6% year-on-year, but the total was still skewed upwards by activity in the renminbi-denominated space. Capital committed to US dollar funds alone was USD 21.8bn, down from USD 48.2bn....
Glenwood takes legal action over disputed Korea transaction
An arbitration proceeding has been initiated in Singapore regarding a dispute between Glenwood Private Equity and BPEA EQT over the failed sale of Korea-based industrial films producer PI Advanced Materials.
Hahn acquires Korea medical devices player
Hahn & Company has acquired a nearly two-thirds stake in Korea-listed medical laser maker Lutronic through a tender offer for about KRW 629bn (USD 497m).
Deal focus: Telexistence's nimble robots target retail, logistics
Japan’s Telexistence appears to be on the cusp of a significant milestone in retail automation. Local logistics tech investor Monoful is hoping to take that promise to the warehouse
Glenwood sells Korean films business to French strategic
Glenwood Private Equity has sold its majority stake in Korea-based industrial films producer PI Advanced Materials to France-headquartered Arkema for an enterprise value of EUR 728m (USD 817m) – six months after BPEA EQT pulled out of a deal to buy the...
Deal focus: Aerofugia wins support for eVTOL tilt
China’s Tsinghua Holdings Capital (TH Capital) regards eVTOL as the best way to leverage electrification of the skies. Aerofugia became a preferred target by virtue of its Geely ties and commitment to tilt-rotor technology