Sectors
China AI specialist 4Paradigm receives $700m Series D
Boyu Capital, Primavera Capital Group, and Hopu Investments have led a $700 million Series D round for 4Paradigm, a Chinese artificial intelligence (AI) technology developer that serves enterprise customers.
China e-sports business VSPN lifts Series B to $160m
VSPN, a Chinese e-sports broadcaster and events promoter backed by Temasek Holdings, has extended its Series B round to $160 million with a mix of VC and strategic investors.
Vista founder calls for investment in Asia tech infrastructure
Vista Equity Partners is keen to invest in Asia’s financial technology space, but founder Robert F. Smith stressed that governments must put in place the appropriate regulatory infrastructure.
AVCJ Awards 2020: Exit of the Year - Small Cap: China Feihe
The secret to Morgan Stanley Private Equity Asia’s 148x return on dairy producer China Feihe was having faith both in the baby care industry and in a quality domestic brand
Chinese financial education start-up raises $100m
Erwan Technology, a China-based wealth management education platform, has secured nearly $100 million in funding across Series D and E rounds.
Singapore's iStox raises $50m Series A
A group of Japanese VC investors has backed a $50 million Series A round for Singapore’s iStox, a digital securities platform that deals in private markets.
Dimension leads $48m round for Japan's Nyle
Japanese VC firm Dimension has led a JPY5 billion ($48.3 million) round for local digital marketing and mobile media business Nyle.
Riverside to buy Australian insurance broker
The Riverside Group has agreed to acquire a controlling stake in Australian disability insurance broker Altius from Sydney-listed AUB Group for A$57 million ($44.3 million) in cash.
AVCJ Awards 2020: Fundraising of the Year - Mid Cap: Ascendent Capital Partners
A $500 million investment in Wumart is the exception rather than the rule for Ascendent Capital Partners’ third China fund, but the digital transformation theme is a constant
China's BangEr Orthopedic raises $46m
Chinese hospital chain operator BangEr Orthopedic has raised a RMB300 million ($46 million) Series D round led by Fortune Capital and Cenova Capital.
Fund focus: Novo Tellus closes second Southeast Asia fund at $250m
Although its second fund is considerably larger than its first, Novo Tellus Capital Partners expects to target the same kind of Southeast Asian industrial technology businesses that have succession and expansion issues
Tower Capital hits first close on Southeast Asia fund
Tower Capital, a Singapore-based GP that previously operated on a deal-by-deal basis, has achieved a first close of approximately $250 million on its first Southeast Asia-focused private equity fund.
Sinovation sharpens focus on healthcare-plus-AI
Healthcare, rather than “rocket science,” represents the biggest opportunity for artificial intelligence (AI) applications, according to Kai-Fu Lee, chairman and CEO of China’s Sinovation Ventures.
AVCJ Awards 2020: Deal of the Year - Small Cap: TaniGroup
Openspace Ventures played a key role in helping Indonesian agriculture technology start-up TaniGroup achieve critical mass as COVID-19 weeded out much of the competition
Deal focus: Monetizing mice
ORI Capital’s 2.8x return on its investment in Kymab was in part based on helping the company make the transition from antibody-based discovery platform to drug development engine
Salesforce invests $15m in India's Darwinbox
Salesforce Ventures has invested $15 million in Darwinbox as part of the Indian staff management technology provider's latest growth round. It brings funds raised to date to about $35 million.
Prosus leads $30m Series C for India agtech start-up
Prosus Ventures, formerly a VC arm of South African media conglomerate Naspers, has led a $30 million Series C round for Indian agricultural technology provider DeHaat.
Fund focus: Endiya sees India’s early-stage upside
Having scaled up in fund size to $75 million for its second vintage, Endiya Partners is looking for opportunities in an increasingly attractive yet competitive Indian start-up ecosystem
Asia fund administration: Odd jobs
COVID-19 is the latest in a growing list of drivers causing private equity firms to outsource various operations. The trend is implacable but inherently flexible
AVCJ Awards 2020: Operational Value Add: TEG
Affinity Equity Partners turned TEG from a ticketing business into a broad-based live events promoter, while simultaneously taking it from Australia-centric to global
Hillhouse founder bullish on China life sciences
Lei Zhang, founder and CEO of Hillhouse Capital, emphasized the opportunities at the nexus of life sciences and artificial intelligence-enabled supercomputing, while describing his firm as “probably the largest investor in healthcare in China.”
Lake Bleu raises $560m for Asia pre-IPO healthcare fund
Lake Bleu Capital, a Hong Kong-based private equity investor focused on healthcare, has raised $560 million for a pre-IPO fund targeting Asia with an emphasis on Greater China.
Navis invests in Singapore fintech supplier Moneythor
Navis Capital Partners has made an investment of undisclosed size in Moneythor, a Singapore financial technology supplier focused on digital banking.
China-based English learning platform raises $100m
Tencent Holdings and Trustbridge Partners have led a $100 million Series C funding round for Jiliguala, a Shanghai-based online English learning platform.