Sectors
LAV, Arch lead $100m round for China's SciNeuro
SciNeuro Pharmaceuticals, a China and US-based drug developer specializing in treatments for central nervous system (CNS) disorders, has announced its formal launch with a $100 million funding round.
ZWC hits $400m first close on China fund
Chinese venture capital firm ZWC Partners has completed a first close of $400 million on its second US dollar-denominated fund. The full target is $450 million.
Everstone exits Singapore BPO business to Brookfield
Everstone Group has agreed to sell Everise, a business process outsourcing (BPO) company it formed through the amalgamation of several existing assets, to Brookfield Asset Management.
Japan’s JIC invests four local start-ups
Japan Investment Corporation (JIC) has backed four local start-ups via its new VC unit. This includes a JPY3 billion ($29 million) commitment to business digitization consultant Monstar Lab.
Portfolio: VIG Partners and Joun Life/Preed Life
By merging Joun Life with Preed Life, VIG Partners’ groundbreaking venture into Korean funeral services is reimagining an industry beyond its core ceremonies
Asia Partners leads $30m Series D for Malaysia's Carsome
Singapore-based Asia Partners has a led a $30 million all-equity Series D round for Malaysian used car trading platform Carsome.
China HR software start-up GaiaWorks gets $76m Series D
China-based GaiaWorks, an workforce management software-as-a-service (SaaS) provider, has raised RMB500 million（$76 million) in an extended Series D round led by GGV Capital.
Korea's MegazoneCloud raises $122m Series B
Korean enterprise cloud services provider MegazoneCloud has closed a $122 million Series B round featuring more than 20 investors, including at least eight private equity firms.
Australia's EVP hits $37m first close on Fund III
Australia’s Equity Venture Partners (EVP) has reached a first close of A$50 million ($37 million) on its third early-stage B2B software fund.
Asia travel & hospitality: Ready to board?
The outlook for international tourism remains uncertain, but this hasn’t stopped some private equity and venture capital investors targeting travel and hospitality assets in Asia. It pays to be selective
China retail SaaS provider Huice secures $100m Series C
Huice, a China-based provider of software for retailers, has raised nearly $100 million in Series C funding led by Singapore’s GIC. GL Ventures, Legend Capital and SoftBank Ventures Asia also participated in the round.
LPs back Adamantem's emissions reduction drive
Australia’s Clean Energy Finance Corporation (CEFC) has made its first commitment to a private equity fund, coming in as an anchor investor in Adamantem Capital’s second buyout vehicle.
Israel's OTV raises $170m, plans Asia expansion
OTV, an Israeli VC firm focused on digital health, has closed its latest fund at $170 million, opened a China office, and appointed a new head of Asia to spearhead an expansion in the region.
Singapore's Velocity Ventures launches travel fund
Velocity Ventures, a Singapore-based VC firm focused on travel and hospitality, has launched its debut early-stage fund targeting Southeast Asia with a target of $20 million.
China's Snowball Finance raises $120m
Snowball Finance, a Chinese online financial information platform with wealth management ambitions, has raised $120 million Series E from Orchid Asia.
China Everbright raises $459m for BRI fund
China Everbright has reached a first close of RMB3 billion ($459 million) on an environment-focused fund that concentrates on economies covered by the Belt and Road Initiative (BRI).
Everstone buys Indian pharma ingredients player
Everstone Group has acquired a controlling stake in Calibre, an Indian ingredients supplier for the pharmaceutical and nutrition industries, for an undisclosed sum.
Anacacia makes another Australia e-commerce play
Australia’s Anacacia Capital has made its second foray into e-commerce in a fortnight with the acquisition of a majority interest in Mwave, an online video gaming and PC hardware retailer.
Deal focus: Speed pays off for Ince with Eeo
Ince Capital's $35 million investment in Eeo Education's Series B round is the largest from its debut fund. The GP has since re-upped in a $265 million Series C at twice the valuation
TPG, Northstar commit $236m to Japfa's SE Asia dairy business
TPG Capital and Northstar have agreed to pay $236 million for an 80% stake in the Southeast Asia consumer dairy operation of Singapore-listed agribusiness giant Japfa.
Deal focus: Huaxing gives overseas LPs taste of China medtech
In addition to raising $213 million for its latest renminbi-denominated fund, Huaxing Healthcare Capital sourced $230 million from co-investors for a succession deal in China’s orthopedics space
India's PhonePe spins out from Flipkart, raises $700m
PhonePe, the digital payments platform of Indian e-commerce marketplace Flipkart, has been spun out as a stand-alone entity and raised $700 million in funding at a post-money valuation of $5.5 billion.
Chinese EV maker Hozon raises $305m
Zhengjiang-based Electronic Vehicle (EV) start-up Hozon Auto has raised RMB2 billion ($305 million) from Huading Capital, a specialist EV investor.
MBK credit fund to join PE fund on CAR investor roster
MBK Partners has agreed to subscribe to $175 million in convertible bonds issued by China Auto Rental (CAR). It follows a large commitment and a take-private offer by MBK last month.