Sectors
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).
China chip designer Biren gets $410m Series B
Biren Technology, a Chinese chip design company, has raised a RMB2.7 billion ($410 million) Series B round led by Ping An Insurance, New World Development, and Country Garden Venture Capital.
IMM set for $222m exit from Korea's Taihan Electric Wire
IMM Private Equity has agreed to sell its 40% stake in Taihan Electric Wire, a Korea-based manufacturer of high-voltage cables to Hoban Construction for KRW251.8 billion ($222 million).
Portfolio: GL Capital & SciClone Pharmaceuticals
GL Capital has helped China’s SciClone Pharmaceuticals position itself for the future while continuing to monetize its key legacy drug. A Hong Kong listing was the reward
Deal focus: Rethinking Australia’s biggest resource
Adamantem Capital’s acquisition of carbon farming specialist Climate Friendly recognizes the increasing sophistication of the Australian carbon credit market as well as its room for improvement
Fund focus: CityU promotes entrepreneur enablement
City University of Hong Kong plans to invest $64 million in creating 300 start-ups over the next three years, offering students and staff a more structured route to commercializing academic research
Deal focus: Affinity to close JobKorea’s technology gap
When Affinity Equity Partners was drawing up plans for JobKorea, it found Seek’s product innovations in Australia a useful reference point. This gave context to a $795 million acquisition
Deal focus: IvyCap’s timely 22x windfall
With the launch of its third fund a few weeks away, IvyCap Ventures leveraged strong investor interest in beauty e-commerce player Purplle to secure one of India’s largest rupee VC exits
Matrix leads Series E tranche for China corporate training platform
Matrix Partners China has led a second tranche of Series E funding - worth $90 million - for Yunxuetang, a Chinese online corporate training services provider.
Redpoint China promotes Kyle Liu to partner
Redpoint China Ventures has promoted Kyle Liu, who focuses on early-stage enterprise services and cutting-edge technology investments, to partner level.
VMS leads $190m round for China CDMO player Chime
VMS Group, a Hong Kong-based asset manager, has led a $190 million extended Series A round of funding for Chime Biologics, a Chinese contract development and manufacturing organization (CDMO).
Wise Road agrees $1.4b take-private of Korea chipmaker
Wise Road Capital, a China-based private equity firm that focuses on high-tech investments, has agreed to privatize Korea’s Magnachip Semiconductor Corporation at a valuation of $1.4 billion.
KKR joins $200m round for China coding education start-up
Hetao 101, a Chinese online education platform that provides computer programming courses for children, has raised $200 million in Series C funding led by KKR, Vision Plus Capital, and GL Ventures.
Gulf Capital invests $30m in India healthcare push
Abu Dhabi-based Gulf Capital has committed $30 million to a plan that will see its global fertility services platform launch 18 clinics in India over the next 12 months.