Sectors
CDH exits Singapore equipment rental business
Japanese conglomerate Sumitomo Corporation has acquired Singapore-based construction equipment rental business Aver Asia, facilitating a full exit for CDH Investments.
Indigenous New Zealand LP backs pathology business
Te Puia Tapapa (TPT), a PE investor serving New Zealand indigenous groups, has backed a pathology business owned by New Zealand Superannuation Fund (NZ Super) and Ontario Teachers’ Pension Plan (OTPP).
India gaming platform MPL gets $95m Series D
Mobile Premier League (MPL), an Indian mobile gaming platform that matches users for competitive play, has raised a $95 million Series D round at a post-money valuation of $945 million.
AVCJ Awards 2020: Exit of the Year - Large Cap: Velocity Frequent Flyer
Building a core competence in data analytics and a broader array of loyalty options underpinned Affinity Equity Partners’ 3.6x return on Velocity Frequent Flyer
Carlyle, Brighton Park invest $200m in India's Indegene
The Carlyle Group and US GP Brighton Park Capital have committed a combined $200 million to Indegene, an Indian technology provider for the healthcare and life sciences industries.
Tencent leads Series C for China gene sequencing player
Guangzhou-based precision diagnosis and gene sequencing company Vision Medicals has raised RMB200 million ($31 million) in Series C funding led by Tencent Holdings.
Temasek impact arm leads Series B for Vietnam dental player
ABC World Asia, the impact investment arm of Temasek Holdings, has led a $24 million Series B found for Kim Dental, a Vietnam-based dental clinic operator. Existing backer Aura Private Equity also participated.
CVC takes majority stake in Shiseido's personal care division
CVC Capital Partners is set to make its largest investment in Japan since before the global financial crisis, having agreed to purchase of a majority stake in Shiseido’s personal care business at a valuation of JPY160 billion ($1.52 billion).
AVCJ Awards 2020: Responsible Investment: Canvest Environment
Olympus Capital has guided China’s Canvest Environment from polluting waste-to-energy minnow to category leader in operational scope and sustainability credentials
Q&A: Bain & Company's Henrik Naujoks
Henrik Naujoks, Bain & Company’s financial services lead for Asia, observes that investors must not ignore the increasing cohesion of the Greater Bay Area despite a relative lack of near-term gambits
India's Moonfrog Labs acquired by Swedish gaming studio
Swedish free-to-play gaming studio Stillfront has agreed to acquire 100% of Indian mobile games developer Moonfrog Labs, setting up exits for Tiger Global Management and Sequoia Capital India.
Southeast Asia's shadow capital: Out of the darkness
Shadow capital – non-traditional pools of money held by sovereigns and corporates – has become a fixture in Southeast Asia’s tech space. Start-ups stand to benefit, but they must pick partners with care
Lilly Asia Ventures raises $1.35b for healthcare funds
Lilly Asia Ventures (LAV) has raised $1.35 billion for its latest healthcare fund, having introduced a $450 million opportunity vehicle that sits alongside a core pool of $900 million.
CDH leads $108m Series B for China baby care brand
Babycare, a Chinese baby products brand, has raised RMB700 million ($108 million) in Series B funding led by CDH Investments. Sequoia Capital China and Huaxing Growth Capital also participated.
India’s Zetwerk secures $120m Series D
India’s Zetwerk, a marketplace for the outsourcing of small manufacturing jobs, has raised a $120 million Series D round led by US-based Greenoaks Capital and Lightspeed Venture Partners.
Orchid, Matrix commit $100m to China gaming platform
Orchid Asia and Matrix Partners China have participated in a $100 million Series B round for Chinese gaming company Quwan Network Technology. Matrix led the Series A last year.
Ravi Thakran's SPAC plans merger with aviation business
A special purpose acquisition company (SPAC) launched by Ravi Thakran, formerly head of L Catterton’s Asia operation, plans to merge with Wheels Up – a US-based aviation business described as Uber for private jets – at a valuation of $2.1 billion.
US strategic to buy PE-backed Australia payroll business
Ceridian, a US-based human resources technology provider has agreed to acquire Australian payroll software specialist Ascender, setting up exits for Potentia Capital and Five V Capital.
AVCJ Awards 2020: Exit of the Year - IPO: SBI Card
The Carlyle Group helps SBI Card win its place in the ongoing rise of digital India before realizing a landmark domestic IPO. Coordination with State Bank of India has been crucial
Sailing, GF lead $77m round for Chinese cognitive AI specialist
Dmai, a Chinese cognitive artificial intelligence (AI) platform also known as Anwu Zhineng, has raised RMB500 million ($77 million) in a Series A round led by Sailing Capital and GF Venture Capital.
China gas station location platform Newlink raises $100m
Newlink Group, operator of a platform that helps drivers in China locate the best value gas stations, has raised $100 million in funding led by CMB International. Other investors include Hongtai Capital, Joy Capital and Nio Capital.
VI Group, SIG lead $15m round for Vietnam's Elsa
Vietnam-based English language education app operator Elsa has raised a $15 million Series B round co-led by local private equity firm VI Group and SIG.
CLSA partially exits Japan medical IT provider
CLSA Capital Partners (CLSA CP) has partially exited its position in NHOSA Corporation, a Japanese IT provider for dental clinics and medical institutions.
Deal focus: iStox finds firmer footing
A clutch of Japanese investors has validated iStox’s blockchain-enabled digital securities marketplace. Now the Singapore-based start-up is taking the idea to new markets