Sectors
Citi, MUFG back Singapore digital wealth platform Endowus
Citi Ventures and MUFG Innovation Partners have joined a USD 35m funding round for Endowus, a Singapore-based digital wealth platform that serves high net worth individuals and public pensions.
TPG to buy Australian funeral services provider for $1.4b
TPG Capital has agreed to acquire Australia-listed Invocare for an enterprise valuation of AUD 2.2bn (USD 1.4bn), ending a five-month pursuit of the provider of funeral services and operator of memorial parks and crematoria.
Japan's Advantage sells Wavedash to US-listed strategic for $61m
Japan’s Advantage Partners has sold online ticket marketplace Wavedash to Vivid Seats, a US-listed ticketing technology company, for JPY 8.7bn (USD 61m).
Carlyle backs Quest Global, Bain, Advent exit
The Carlyle Group has agreed to acquire a significant minority stake in Singapore-based engineering services company Quest Global, facilitating exits for Bain Capital and Advent International.
Hillhouse buys offshore corporate services unit from Harneys
Hillhouse Investment, the buyout and growth capital unit of Asia-based Hillhouse Group, has agreed to acquire the fiduciary services business of global offshore law firm Harneys.
Advent buys Australian fashion brand Zimmermann
Advent International has agreed to acquire a controlling interest in Australia-headquartered fashion brand Zimmerman, facilitating a partial exit for Italy-based private equity firm Style Capital.
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.
Japan's J-Star seeks seafood company take-private
Japanese middle market private equity firm J-Star is bidding to acquire Yaizu Suisankagaku (YSK) through a tender offer that values the Tokyo-listed seafood business at about JPY 15bn (USD 91m).
India's Elev8 hits $67m first close on maiden fund
India’s Elev8 Venture Partners has reached a first close of USD 67m on its debut growth-stage venture fund with Korea’s KB Investment as the anchor LP. The target is USD 200m.
India skills training player Disprz raises $30m Series C
Indian enterprise learning and upskilling start-up Disprz has raised a USD 30m Series C round featuring US-based Lumos Capital, a specialist in the education and workforce segments.
Chinese grocery player Miss Fresh sells shares at $31m valuation
Chinese online grocery delivery platform Miss Fresh has agreed to sell an 88.1% stake to a third-party investor at a valuation of approximately USD 31m – one-tenth of the company’s market capitalisation when it listed in June 2021.
India's Pi Ventures closes second fund with $85m
India’s Pi Ventures, an artificial intelligence (AI) and deep tech specialist, has closed its second fund with INR 7bn (USD 85m) in commitments.
Japan's Miyako targets $140m for third VC fund
Japan’s Miyako Capital, an independent VC firm affiliated with Kyoto University, has launched its third deep tech fund with a target of JPY 20bn (USD 140.2m).
Bain set for $630m buyout of Australia's Estia Health
Bain Capital has won board approval to acquire Australia-listed aged care provider Estia Health through a scheme of implementation that gives the business an enterprise value of approximately AUD 959m (USD 630m).
PE-owned Japanese drug maker seeks bankruptcy protection
Kyowa Pharmaceutical Industry, a Japanese generic drug manufacturer owned by Unison Capital, has applied for alternative dispute resolution, an out-of-court process that allows companies to continue operations while negotiating with creditors on a restructuring.
L Catterton exits Australia’s Seafolly
L Catterton Asia has sold Australian swimwear brand Seafolly to an unidentified Asian strategic buyer in a deal that values the company at AUD 70m (USD 46m).
Hong Kong's Micro Connect raises $458m Series C
Hong Kong’s Micro Connect, a financier for micro, small, and medium-sized enterprises (MSMEs), has raised USD 458m in Series C funding. It did not name the investors.
5Y seeks $700m for latest China VC fund
China-focused 5Y Capital has set a target of USD 700m for its latest venture capital fund – in line with what the manager raised in the previous vintage.
KKR buys India pallet pooling business
KKR has paid an undisclosed sum for a majority stake in Leap India, a supply chain services provider focused on cost reduction through pallet pooling. It sets up exits for several PE investors.
Japan's I-Grid Solutions raises $21m
Japan’s The Fund, a joint venture between Mizuho Capital and VC firm Signifiant, has invested JPY 30bn (USD 21m) in local corporate energy management advisor I-Grid Solutions.
PE-backed Adlai Nortye pursues US listing
Adlai Nortye, a private equity-backed Chinese cancer drug developer that previously filed to list in Hong Kong, is now targeting an IPO in the US.
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.
Singapore's Nium raises capital at $2b valuation
Singapore-based payments technology provider Nium claims to have doubled its valuation in the past 24 months to USD 2bn with new investors such as US-based Bond and Moore Capital joining the capital table.
Deal focus: Topolefin finds favour as import substitution play
China-based Topolefin has gained traction thanks to breakthroughs in polymer science and the willingness of local medical equipment makers to use its components in foreign-dominated supply chains