Sectors
China's Baidu raises funding for chip unit at $2b valuation
CPE has led a funding round for Kunlun, the semiconductor unit of Chinese search giant Baidu, at a post-deal valuation of approximately RMB13 billion ($2 billion).
China's Zhihu completes $522m IPO, endures volatile debut
Chinese question-and-answer platform Zhihu endured a difficult New York Stock Exchange debut, closing at a 10.5% discount to its IPO price on a day when US-listed Chinese stocks fluctuated wildly.
Australia social media start-up Linktree raises $45m
Index Ventures and Coatue Management have led a $45 million Series B round for Australia-based social media services platform Linktree.
KKR, Sequoia lead $234m round for Indian NBFC
KKR and Sequoia Capital India have led a $234 million investment in Indian non-banking financial company (NBFC) Five Star Business Finance at a valuation of $1.4 billion.
PE topples advisory as China Renaissance's key business
Fund management has become China Renaissance’s largest source of revenue, seven years after the firm – best known for providing private placement and M&A advisory services to Chinese internet companies – entered the private equity business.
China yogurt brand secures $122m Series B
Simple Love, also known as Jian’Ai, a Chinese yogurt brand, has raised RMB800 million ($122 million) in Series B funding from Matrix Partners China, BA Capital, CITIC Agriculture Fund, and Maison Capital. They all backed the company's RMB400 million...
China autonomous driving start-up TuSimple files for US IPO
TuSimple, a China and US-based developer of autonomous driving technology for trucks, has filed for a US IPO. Its backers include CDH Investments, Zhiping Capital, Sina Corporation, and Hong Kong hedge fund Composite Capital.
India's Dream Sports raises $400m, hits $5b valuation
Dream Sports, operator of India’s largest fantasy sports platform, has raised $400 million in funding led by TCV, D1 Capital Partners and Falcon Edge Capital. The post-deal valuation is nearly $5 billion.
Hony launches China healthcare, consumer SPAC
Hony Capital has joined a string of Chinese private equity managers with special purpose acquisition vehicles (SPACs), targeting $300 million for healthcare and consumer deals.
JC Flowers exits Asia trading platforms business
JC Flowers has agreed to sell Hong Kong-based Chi-X Asia Pacific, which operates equity trading platforms in Australia and Japan, to US-based Cboe Global Markets.
Invesco leads $155m round for China's Brii Biosciences
Invesco has led a $155 million Series C round for China-focused infectious diseases drug developer Brii Biosciences.
CMB, Mirae lead Series C for China biotech player EpimAb
Shanghai-based EpimAb Biotherapeutics has raised $120 million in Series C funding led by CMB International and Korea’s Mirae Asset Financial Group.
China drug development outsourcer raises $70m
Zhenge Biotech – a Shanghai-based contract development and manufacturing organization (CDMO) for large molecule drugs – has raised $70 million in Series B funding led by Qiming Venture Partners and IDG Capital.
Blackstone bids $6.1b for Australia's Crown Resorts
The Blackstone Group has offered to acquire 100% of Australia-listed casino and hotel operator Crown Resorts for about A$8 billion ($6.1 billion).
Australia's Airwallex sees valuation hit $2.6b
Airwallex, an international payments technology provider that launched out of Melbourne, has closed a third tranche of Series D funding, taking the overall round to $300 million and its valuation to $2.6 billion.
DCM set for partial exit from Japan's Freee
Tokyo-listed accounting software provider Freee is set to raise up to JPY42.5 billion ($391 million) through an offering of new shares and the sale of shares held by DCM Ventures.
China's Taishan Beer raises $92m
CMC Capital Group has committed RMB600 million ($92 million) in funding to Chinese domestic beer brand Taishan.
India NBFCs: Agreeable aftermath
India’s non-bank financiers remain attractive investment targets as a convergence of macro and systemic shocks tests the market. Sturdy underlying drivers provide confidence as models evolve
Bain backs China gas station platform Newlink
Bain Capital Private Equity led a $200 million investment in Newlink Group, operator of a platform that helps drivers in China locate the best value gas stations and charging piles. Joy Capital re-upped in the round.
China's Connect Biopharma gains 8% on debut after $191m US IPO
Connect Biopharma, a China-headquartered drug developer specializing in treatments for T cell-driven inflammatory diseases, gained 8.8% on debut following a $191.3 million US IPO.
Quadria backs Indonesia's Hermina Hospitals
Singapore’s Quadria Capital has paid an undisclosed sum for a minority stake in Hermina Hospitals, one of the largest hospital chains in Indonesia.
China autonomous driving developer Momenta raises $500m
SAIC Motor, Toyota Motor Corporation, Robert Bosch, Yunfeng Capital, and Temasek Holdings are among the investors in a $500 million Series C funding round for Chinese autonomous driving technology developer Momenta.
China cybersecurity player ThreatBook raises $77m
Beijing-based cybersecurity solutions provider ThreatBook has completed a RMB500 million ($77 million) Series E round led by CPE and featuring existing investor V Fund.
Sojitz backs Malaysia's PE-owned Qualitas Medical
Japanese conglomerate Sojitz has taken an equity interest in Qualitas Medical, a diversified Malaysia-based healthcare services provider owned by Southern Capital Group.