Sectors
Eight Roads launches $400m China healthcare fund
Fidelity-backed Eight Roads has launched a China healthcare fund with a corpus of $400 million, which will invest across the industry value chain and in areas related to critical diseases.
HutchMed soars on debut after $536m Hong Kong offering
HutchMed – formerly Hutchison China MediTech – saw its share price jump 50% on debut after raising HK$4.17 billion ($536.9 million) through a Hong Kong share offering.
Investcorp backs Hong Kong's Heritage Foods
Investcorp has made an investment of undisclosed size in Hong Kong-based Heritage Foods, which has a portfolio of condiment and sauce brands in Singapore, Malaysia, and Japan.
China's ZWC Partners raises $770m
Chinese venture capital firm ZWC Partners has closed its second US dollar-denominated fund at around $770 million, beating a target of $450 million.
India auto software provider LocoNav raises $37m
LocoNav, an Indian vehicle fleet software provider, has raised $37 million in Series B funding from a group of investors including Sequoia Capital India.
Taiwan's Hive Ventures closes debut fund at $13.5m
Taiwan’s Hive Ventures has closed its debut seed fund with $13.5 million in commitments. It will invest locally and globally with a focus on artificial intelligence (AI).
NewQuest buys Cosmos-Maya from KKR's Emerald Media
Direct secondaries specialist NewQuest Capital has acquired Indian animation studio Cosmos-Maya from Emerald Media, an Asian media platform backed by KKR.
PE & gambling: Ante up
Private equity has exhibited consistent appetite for gambling-related assets amid pandemic-fueled uncertainty. Regulation remains a significant wildcard in Asia. Reputational risk, not so much
Profile: BRI Ventures' Nicko Widjaja
First at MDI Ventures and now at BRI Ventures, Nicko Widjaja has established himself as a pioneer of corporate venture capital in Indonesia. The journey has been long and sometimes bumpy
Deal focus: Carro prioritizes car financing as ecosystem enabler
Southeast Asia’s Carro has achieved critical mass as a used car trading platform, but the start-up regards financial services as the key growth area. It is now backed by SoftBank Vision Fund’s considerable heft
Deal focus: TR Capital doubles down on China tech
Secondaries specialist TR Capital has established a base in Shenzhen with a view to sourcing more deals in China’s red-hot technology sector. Online used car trading platform Bochewang is the latest example
China: A controversial ESOP
An employee stock ownership plan introduced alongside Hillhouse Capital’s 2019 investment in Gree Electric Appliances has raised questions about enrichment and alignment
China industrial robotics start-up raises $61m
Youshan Capital and China Merchants Capital have led a RMB395 million ($61 million) Series B round for Han's Robot, a China-based manufacturer of industrial robots.
Investcorp leads Series D for China healthcare SaaS player
Linkedcare, a software-as-a-service (SaaS) and supply chain provider to China's healthcare sector, has closed a Series D funding round. Including an earlier Series C extension, the company claims to have raised $100 million in the past six months.
India's Orios raises $30m top-up fund
India-based early-stage investor Orios Venture Partners has raised $30 million for a top-up fund that will mainly participate in follow-on rounds for select existing portfolio companies.
Philippines-based fintech player Voyager raises $167m
Voyager Innovations, a Philippines financial technology company, has raised $167 million in funding from new and existing investors that will support the development of its PayMaya payments service.
Ex-CPPIB CEO joins board of Singapore investment firm
Mark Machin, formerly CEO of Canada Pension Plan Investment Board (CPPIB), has agreed to join Serendipity Capital, a Singapore-based investor specializing in financial services, as a non-executive director.
China's Miss Fresh raises $273m in US IPO, drops on debut
Chinese online grocery delivery platform Miss Fresh raised $273 million through its US IPO, but the company endured a difficult debut and continues to trade well below the offering price.
Hong Kong industrial AI start-up raises $200m
SmartMore, a Hong Kong-headquartered artificial intelligence (AI) and computer vision start-up, has achieved unicorn status after raising $200 million in Series B funding.
VC-backed Australia cloud business sold to US strategic
Panviva, an Australian cloud-based enterprise software provider backed by a number of venture capital investors, has been acquired by US counterpart Upland Software for about $23.3 million.
Tiger Global leads $35m Series C for India's Classplus
Tiger Global Management has led a $65 million Series C round for Classplus, an India-based education technology platform through which teachers can distribute, track, and monetize content.
Redbird Capital buys stake in Indian cricket team
RedBird Capital Partners, a US investment firm that has backed numerous sports franchises globally, has made its first foray into cricket by picking up a 15% stake in Indian Premier League (IPL) team Rajasthan Royals.
NewQuest exits BPO business to US GP
NewQuest Capital Partners is exiting Integreon, a business process outsourcing (BPO) provider with a significant Asia footprint to US private equity firm EagleTree Capital.
China online pharmacy Dingdang seeks Hong Kong IPO
Dingdang Health, a Chinese online pharmacy business that raised $220 million in funding earlier this month, has filed for a Hong Kong IPO.