Sectors
Xiaomi to buy VC-backed autonomous driving start-up
Chinese smart phone maker Xiaomi has agreed to buy local autonomous driving technology developer Deepmotion, facilitating liquidity events for Source Code Capital and Redpoint China Ventures.
India's Delhivery buys PE-owned Spoton Logistics
Indian e-commerce logistics Delhivery has acquired Spoton Logistics, a private equity-owned express logistics and supply chain business, with a view to strengthening its B2B capabilities.
India's Prime Venture reaches $75m first close on Fund IV
Prime Venture Partners has reached a first close of $75 million on its fourth India-focused VC fund. The overall target is $100 million.
China cancer treatment specialist Ionova raises $100m
Tsing Song Capital, a Chinese healthcare-focused private equity firm, has led a $100 million round for Ionova Life Science, a local biotech player specializing in cancer treatments.
Tribe, Moore Strategic lead Series C for India's Khatabook
Tribe Capital and Moore Strategic Ventures have led a $100 million Series C round for Khatabook – an India-based bookkeeping app aimed at small merchants – at a valuation of $600 million.
Advent sells Chinese mattress maker to Hillhouse
Advent International has sold its controlling stake in AI Dream – operator of the Serta and King Koil mattress brands in China – to Hillhouse Capital.
CBC-led consortium buys Bain's stake in Korean botox maker
A consortium led by Asia healthcare-focused private equity firm CBC Group has agreed to acquire a 46.9% interest in Hugel, a South Korean manufacturer of botox and other health-related pharmaceuticals, for KRW1.7 trillion ($1.5 billion).
SoftBank leads $154m Series D for China's Ekuaibao
Ekuaibao, a Chinese software-as-a-service (SaaS) provider specializing in corporate reimbursements, has raised RMB1 billion ($155 million) in Series D funding led by SoftBank Vision Fund 2.
Bazaar secures Pakistan's largest-ever Series A round
Online B2B marketplace Bazaar has completed what it claims is Pakistan’s largest-ever Series A round with a $30 million commitment led by Wavemaker Partners and US-based Defy Partners.
CDIB leads round for Taiwan crypto-fiat start-up
CDIB Capital Group has led a $17 million pre-Series A round for Xrex, a Taiwan-based financial technology player that uses blockchain to facilitate cross-border payments by small and medium-sized enterprises (SMEs).
BGH-owned Abano to buy Australia dentistry business
Abano Healthcare, a New Zealand dentistry chain owned by BGH Capital and Ontario Teachers’ Pension Plan (OTPP), has agreed to acquire Australian peer 1300 Smiles for an enterprise valuation of A$165 million ($120 million).
ChrysCapital, True North join $150m Quest Global deal
ChrysCapital and True North Managers have participated in a $150 million investment for a minority stake in Quest Global, an Indian engineering services outsourcing company.
China comic platform Kuaikan raises $240m
Kuaikan, China’s largest publishing platform for comics, has raised $240 million from CCB International, Korean mobile app marketplace One Store, Tencent Holdings, Coatue Management, and Tiantu Capital.
China’s Dayone Capital closes debut fund at $630m
Dayone Capital, a Chinese consumer-focused PE firm established by Allen Chen, founder of eyewear brand Mujosh and co-founder of BA Capital, has closed its debut fund at $630 million.
Chinese investors join $400m round for Nigeria's Opay
Several Chinese investors have re-upped in a $400 million round – at a valuation of $2 billion – for Nigeria-based logistics and payments technology company Opay.
Kedaara, Partners Group complete Aavas sell-downs
Kedaara Capital and Partners Group have made partial exits from Aavas Financiers, the mortgage business they carved out from Indian non-banking finance company Au Financiers in 2016 and took public two years later.
KKR, OTPP, PSP to buy Australia's Spark Infrastructure for $7.2b
KKR, Ontario Teachers’ Pension Plan (OTPP), PSP Investments have agreed to buy Australia-listed Spark Infrastructure, which has extensive interests in electricity transmission and distribution, for an enterprise valuation of A$10.1 billion ($7.2 billion).
India's 3one4 names new partner
Indian venture capital firm 3one4 Capital has elevated Anurag Ramdasan to partner level, alongside a rush of more junior promotions.
China's Deepexi raises $100m Series B
Deepexi, a Chinese start-up that provides digital transformation solutions to enterprise customers, has raised $100 million in a Series B funding round led by Guotai Junan Securities and an investment arm of China Industrial International Trust Asset...
Jafco leads $13m Series A for Taiwan cybersecurity player
Jafco Asia, a Singapore-based unit of Japanese VC firm Jafco, has led a $12.9 million Series A round for Taiwanese industrial cybersecurity provider TXOne Networks.
Australia's Blackbird leads Series B for education start-up
Blackbird Ventures has led a $25 million Series B funding round for Forage, an Australia-founded but now US-based provider of virtual training courses aimed at students.
Baring buys enterprise tech player Straive from Partners Group
Baring Private Equity Asia is poised to add to its enterprise technology portfolio with the acquisition of Straive – a Philippines-based outsourcing business previously known as SPi Global – from Partners Group.
China gas station platform Newlink raises $308m
Newlink Group, operator of a platform that helps drivers in China locate the best value gas stations and charging piles, has raised RMB2 billion ($308 million) led by China Merchants Capital.
Postman becomes India’s top SaaS unicorn
Software-as-a-service (SaaS) provider Postman has closed a $225 million Series D round at a valuation of $5.6 billion, making it the most valuable start-up of its kind in India.