Sectors
Baring Asia invests $100m in Hutchison China MediTech
Baring Private Equity Asia has invested $100 million in Hutchison China MediTech (HutchMed), a US and London-listed drug discovery business that has two fully commercialized oncology products in China.
Hosen raises $800m for latest China food fund
China-based food and agriculture specialist Hosen Capital has closed its third US dollar-denominated fund above target at $800 million.
China's Danke to be delisted in US
The New York Exchange is set to delist Chinese apartment rental service provider Danke, having halted trading in the stock on March 15 because of poor information disclosure.
Australia's Canva sees valuation double once again
Australian graphic design platform Canva has more than doubled its valuation to $15 billion with a new $71 million growth round. It was valued at $3.2 billion 18 months ago.
Prosus, TPG lead $350m round for India pharmacy player
Prosus Ventures and TPG Growth have co-led a $350 million Series E round for India’s API Holdings, best known as the parent of pharmacy portal PharmEasy.
Long Hill raises $300m for third China VC fund
Long Hill Capital closed its third US dollar-denominated fund at $300 million with a remit to pursue healthcare and longevity-related opportunities, which includes start-ups focused on wellness and services aimed at aging consumers.
China grocery platform Dingdong Maicai raises $700m
DST Global and Coatue Management have led a $700 million Series D for China-based online fresh produce delivery business Dingdong Maicai. Existing investors including CMC Group re-upped.
Vision Fund leads $300m round for India's Meesho
SoftBank Vision Fund 2 has led a $300 million round for Meesho, India’s leading social e-commerce start-up, at a valuation of $2.1 billion.
Vision Fund, BlackRock lead Series D for Singapore's Trax
Trax, a Singapore-headquartered start-up that uses computer vision technology to help retailers link sales to in-store and on-shelf positioning, has secured $640 million in Series E funding led by SoftBank Vision Fund 2 and BlackRock.
CVC proposes acquisition of Japan's Toshiba
Toshiba Corporation has confirmed it received a buyout offer from CVC Capital Partners. Based on a reported valuation of $20 billion, it would be the largest acquisition by a private equity firm in Asia.
Creador exits Indian pharma player to ChrysCapital
Creador has completed a third exit – with a 3.7x multiple and a 32% IRR – from its third South and Southeast Asia-focused fund, selling a minority position in Indian pharmaceutical company Corona Remedies to ChrysCapital.
Japan's YJ Capital, Line Ventures merge, launch $274m fund
Japan’s YJ Capital, recently rebranded as Z Venture Capital (ZVC), has launched a JPY30 billion ($274 million) following a merger with Line Ventures.
L Catterton invests $182m in Japanese healthcare business
L Catterton has invested JPY20 billion ($182 million) in PHC Holdings Corporation, a Japanese healthcare business – formerly known as Panasonic Healthcare – backed by KKR.
Qiming leads $30m Series B for China crypto start-up
Qiming Venture Partners has led a $30 million Series B round for China-based imToken, which claims to be Asia’s largest crypto wallet.
China's Source Code confirms $1b close on US dollar funds
Source Code Capital has confirmed a final close of $1 billion on its latest set of US dollar-denominated funds, which takes the Chinese venture capital firm’s total assets under management to $2.5 billion.
Japan payments start-up Paidy closes $120m Series D
Japanese payments start-up Paidy has raised $120 million in Series D funding from JS Capital Management, Soros Capital Management, Tybourne Capital Management, and Wellington Management.
FountainVest, ClearVue back China self-driving truck player
FountainVest Partners and ClearVue Partners have led a $220 million funding round for Plus, a China-based autonomous driving technology developer that specializes in trucks.
Partners Group, CPPIB exit GlobalLogic to Hitachi
Partners Group and Canada Pension Plain Investment Board (CPPIB) are exiting a combined 90% stake in US-headquartered GlobalLogic to Japan’s Hitachi at an equity valuation of $8.5 billion.
Qingsong raises $153m for fourth China VC fund
Qingsong Fund, a Chinese venture capital firm formed by Xiaosong Liu, an angel investor and co-founder of Tencent Holdings, has closed its fourth renminbi-denominated fund with RMB1 billion ($153 million).
Alibaba, DST lead Series D for China's Nice Tuan
Alibaba Group and DST Global have led a $750 million Series D round for Shihuituan, a China-based community group buying platform also known as Nice Tuan.
China consumer brands Genki Forest, Tasogare secure funding
Two emerging Chinese beverage brands - Genki Forest and Tasogare, which focus on sparkling water and coffee, respectively - have completed new funding rounds.
Unison makes two Japan healthcare acquisitions
Japan’s Unison Capital has confirmed two local healthcare deals in the space of a week with pharmacy chain Reliance and outpatient nursing provider N Field.
Applied terminates acquisition of Japan's Kokusai Electric
KKR’s $3.5 billion sale of Japanese semiconductor industry supplier Kokusai Electric to US-listed Applied Materials has fallen through due to regulatory approval issues in China.
MSPEA, Sihuan Pharma sell China hospital
Morgan Stanley Private Equity Asia (MSPEA) and Sihuan Pharmaceuticals have agreed to sell their 80% stake in China’s Huaiyin Hospital for RMB882.8 million ($134.3 million).