Sectors
New Zealand's Seequent sold to US trade buyer for $1b
Accel-KKR, a private equity firm created by Accel Partners and KKR, is set to exit New Zealand engineering software provider Seequent to a US strategic in a deal worth $1 billion.
Quadrant backs Australia's TSA, Livingbridge exits
Quadrant Private Equity has invested an undisclosed sum in TSA Management, an Australia-based project consultancy business, taking out existing backer Livingbridge in the process.
Deal focus: Gitai turns robot economics on its head
Japanese start-up Gitai eschews conventional wisdom that industrial-use robots must be specialized. Its Series B round will be used to build general-purpose robots for use in space
L Catterton Asia raises SPAC for consumer deals
L Catterton Asia has raised $250 million for a special purpose acquisition company (SPAC) that will focus on high-growth consumer technology assets within the region.
Warburg Pincus, Hillhouse back China's JD Property
JD Property, the infrastructure property asset management arm of Chinese e-commerce giant JD.com, has raised a $700 million Series A round led by Warburg Pincus and Hillhouse Capital.
Korea's Coupang gains 41% on debut after $4.5b US IPO
BlackRock Private Equity Partners received proceeds of $936 million through a partial exit from Korean e-commerce business Coupang, which raised $4.55 billion in its US IPO. The stock gained 41% on debut.
Openspace raises $200m for third Southeast Asia VC fund
Openspace Ventures has closed its third Southeast Asia fund – which targets Series A and B rounds for companies with B2C and B2B technologies – at the hard cap of $200 million.
SIG leads $100m round for China gaming platform MetaApp
China gaming platform MetaApp has raised a $100 million Series C round led by SIG and featuring existing investors China Creation Ventures (CCV) and Sky9 Capital. It is said to be the largest single round in China's gaming industry.
China e-signature specialist Fadada gets $139m Series D
Tencent Holdings, Centurium Capital, and ZWC Partners have contributed RMB900 million ($139 million) in Series D funding to Fadada, a Chinese e-signature and cloud contract service provider.
MDV, Kenanga launch $73m Malaysia fintech fund
Malaysia Debt Ventures (MDV) and Kenanga Investment Bank have launched a VC fund focused on the local financial technology space with a target of MYR300 million ($73 million).
US-Japan VC hits $75m first close on cross-border fund
SIP Global Partners, a US and Japan-headquartered VC firm, has reached a first close of $75 million on its debut cross-border fund. The target is $150 million.
Polaris buys mapping business from Japan's Pioneer
Japanese technology conglomerate Pioneer Corporation has agreed to sell Increment P Corporation – its car navigation and mapping business – to Polaris Capital Group.
CPE sells Australia biscuit business to Mondelez
Australian mid-market private equity firm CPE Capital has agreed to sell Gourmet Food Holdings (GFH) – a local producer of crackers and biscuits – to US-based food multinational Mondelēz International.
Fund focus: Asia Partners eyes Southeast Asia's white space
The growth-stage funding gap is approximately $1.1 billion per year in Southeast Asia, according to Asia Partners. The GP now has $384 million in dry powder to try and fill it
GL joins $61m Series C for China’s Thousand Oaks
GL Ventures - a VC unit of Hillhouse Capital - and China State-Owned Capital Venture Investment Fund have led a RMB400 million ($61 million) Series C round for Thousand Oaks Biopharmaceuticals, a China-based contract development and manufacturing organization...
Jungle joins $46m Series D for India's Turtlemint
Indian online insurance broker Turtlemint has closed its Series D round at $46 million following a significant contribution from early-stage investor Jungle Ventures.
Deal focus: Point Avenue's O2O proposition
Vietnam education start-up Point Avenue is pursuing expansion across after-school tuition, bilingual K-12 schools, and online platforms. Gaw Capital will provide financial and strategic support
CDC doubles down on India's Ecom Express
UK development finance institution CDC Group has invested $20 million in Indian e-commerce player Ecom Express. It follows a $36 million investment from CDC last year.
China regulation: Taming the giants
Recent regulatory reforms suggest that China will not let the growth of large technology companies go unchecked. The implications could be far-reaching, not least for VC investors and start-ups
Loyal Valley leads Series B for China vision therapy start-up
China-based eye disorder specialist Arctic Vision has raised a $100 million Series B round led by Loyal Valley Capital. Tencent Holdings, Octagon Capital, and New World Development CEO Adrian Cheng also participated.
Rugby Australia open to private equity proposals
Rugby Australia will consider private equity investment proposals, following in the footsteps of commercial rugby union organizations in the UK and New Zealand that need cash to alleviate financial stress arising from COVID-19.
China's Zhongneng secures $460m in equity, debt funding
Zhongneng United, a Chinese construction equipment rental platform specializing in aerial work, has raised RMB3 billion ($460 million) in Series C equity and debt financing across three tranches.
Allianz leads $75m round for Hong Kong's WeLab
Allianz Group has led a $75 million round for Hong Kong’s WeLab with a view to helping the financial technology provider develop new insurance and investment products.
FountainVest leads $100m round for China's Ushopal
FountainVest Partners has led a $100 million funding round for Ushopal, a China-focused e-commerce platform that sources global luxury brands for the high-end consumer market.