Sectors
Deal focus: VR gaming comes of age
Japanese videogame publishing company Thirdverse believes the time is right to bring virtual reality entertainment to the masses. VCs with expertise in the sector are beginning to agree
Delta, Daiwa back Myanmar plastic recycler
Delta Capital Myanmar, formerly PMM Partners, and Daiwa Securities Group have invested $12.6 million in Myanmar recycling business Commercial Plastics Holding (CPC).
BGH, OTPP sweeten deal for New Zealand's Abano
BGH Capital and Ontario Teachers’ Pension Plan (OTPP) have improved their take-private offer for New Zealand dentistry chain Abano, reflecting a relatively strong business recovery.
Walmart, Flipkart re-up in India's Ninjacart
US retailer Walmart and Flipkart, its India-based e-commerce platform, have made an additional investment in local fresh produce delivery business Ninjacart.
India's Razorpay raises $100m Series D
Indian digital payments start-up Razorpay has achieved unicorn status following a $100 million Series D round led by GIC Private and Sequoia Capital India.
PAG-led consortium buys India drug maker
PAG Asia Capital has made its second substantial investment in India in the past two months, leading a consortium that has agreed to acquire a controlling stake in Anjan Drug, a Chennai-based manufacturer of active pharmaceutical ingredients (API).
China's Gaorong closes Fund V at $1.1b
Gaorong Capital has closed its fifth US dollar-denominated fund with commitments of $1.15 billion. It brings the Chinese venture capital firm's assets under management to about $4 billion.
Tencent leads $100m round for China education platform
Huohua Siwei, a China-based children's online education platform specializing in mathematics and science, has raised $100 million in the second tranche of the Series E round.
Deal focus: Flash Express secures Thai corporate support for Series D
Having previously relied heavily on Chinese investors, Thailand express delivery player Flash Express sought out local partners for its $200 million Series D as part of plans for domestic consolidation
Lee's Pharmaceutical spin-out gets $145m Series B
Hong Kong-based Zhaoke Ophthalmology Pharmaceutical (ZKO), a subsidiary of Lee’s Pharmaceutical, has raised a $145 million Series B round led by Hillhouse Capital and TPG Asia.
Archipelago acquires Malaysia's Coolblog, Ekuinas exits
Archipelago Capital Partners has acquired Malaysian dessert and drink chain Coolblog from government-backed PE firm Ekuinas based on an equity value of MYR75 million ($18 million).
Fund focus: BA Capital backs youth
ByteDance spinout BA Capital has raised $147 million for its second renminbi-denominated fund and is also raising a US dollar vehicle. Backing consumer brands that resonate with young people underpins the investment thesis
Fund focus: CCV raises $300m for China fund
China Creation Ventures secures $300 million for Fund II, having found that some LPs are holding back on China commitments while others are even more willing to engage
Q&A: Unison Capital's Tatsuo Kawasaki
Tatsuo Kawasaki, a partner at Unison Capital, on supporting existing investments and making new ones, expectations of distress in Japan, and why a platform approach makes sense for healthcare
China carpooling player Dida pursues Hong Kong IPO
Dida Chuxing – a Chinese peer-to-peer carpooling business that subsequently expanded into ride-hailing, putting it in direct competition with longstanding market leader Didi Chuxing – has filed for a Hong Kong IPO.
Everest Medicines soars on debut after $451m IPO
Everest Medicines, a Chinese biotech start-up backed by CBC Group, performed strongly in early trading in Hong Kong following a HK$3.5 billion ($451 million) IPO.
PE-backed Chinese fintech player Lufax files for US listing
Lufax, a Chinese online lending and wealth management platform valued at $39.4 billion following its most recent private funding round, has filed for an IPO in the US.
SBI, Sygnum launch digital assets fund
SBI Ven Capital, an investment arm of Japan's SBI Group, has teamed up with digital asset bank Sygnum Group and launched an early-stage fund investing in digital assets across Southeast Asia and Europe.
PE-owned Adore Beauty targets $193m Australia IPO
Australia’s Quadrant Private Equity is set to make a first exit from its growth fund with online beauty retailer Adore Beauty announcing plans for a A$269.3 million ($192 million) IPO.
Jafco backs Japan VR game developer
Japan’s Jafco has led an $8.5 million Series A round for local virtual reality (VR) game developer Thirdverse.
ADIA joins Reliance Retail investor roster
Abu Dhabi Investment Authority (ADIA) has become the latest investor to follow its commitment to Reliance Industries-owned Jio Platforms with an investment in Indian conglomerate’s retail unit.
Deal focus: Neuron finds clear roads down under
Having increased its Series A round to $30.5 million, Neuron Mobility is ramping up expansion of its e-scooter rental services, with Australia and New Zealand the immediate priorities
Deal focus: CVC's soft sell
CVC Capital Partners helped Softex Indonesia grow its market share by penetrating modern retail channels and launching an ESG program. A $1.2 billion trade sale exit to Kimberly-Clark is its reward
Genor Biopharma raises $372m in Hong Kong IPO
China-based Genor Biopharma, which counts Hillhouse Capital, Temasek Holdings and Qiming Venture Partners among its investors, has raised HK$2.88 billion ($372 million) through a Hong Kong IPO.