Sectors
KKR to invest $755m in India's Reliance Retail
KKR has followed up its investment in Jio Platforms, the holding company for a variety of digital assets owned by Reliance Industries, with a INR55.5 billion ($755 million) commitment to the Indian conglomerate’s retail unit.
PAG poised to invest in Australian airline
PAG Asia Capital is in exclusive negotiations over a A$150 million ($109 million) investment in Regional Express Holdings (Rex), an Australian airline that emerged following the collapse of Ansett Airlines.
India gaming platform secures $90m Series C
SIG Asia, RTP Global, MDI Ventures and Pegasus Tech Ventures have led a $90 million Series C round for Mobile Premier League (MPL), an India-based mobile gaming platform.
China EV maker WM Motor raises $1.5b
Chinese electric vehicle (EV) manufacturer WM Motor has raised RMB10 billion ($1.47 billion) in funding led by SAIC Motor and several government investment platforms. It said to be the largest single round in China's EV industry.
CDH, SDIC lead $62m Series C for Virogin Biotech
Virogin Biotech, a drug developer based in China and Canada, has received $62 million in Series C funding led by CDH Invesmtents and a subsidiary of State Development and Investment Corporation (SDIC).
Panlin raises $148m for China VC fund
Shanghai-based venture capital firm Panlin Capital has raised RMB1 billion ($148 million) in its latest early-stage fund having spent about 16 months in the market.
Rise Fund, Swire back Asia plant-based food specialist
The Rise Fund, TPG’s impact investment vehicle, and Hong Kong conglomerate Swire Pacific have led a $70 million round for Green Monday Holdings, a Hong Kong plant-based protein provider.
NSSK sells Japanese manga publisher
NSSK has sold Bunkasha Publishing, a Japanese media group focused on manga comics in both print and digital formats, to local internet content provider Beaglee.
Deal focus: COVID-19 prompts Modern Star exit rethink
Navis Capital Partners' 3.5x return on Australian educational resources supplier reflects how the business proved resilient in the face of COVID-19, but the pandemic still played havoc with the exit process
Deal focus: Waresix builds Indonesia's logistical lynchpin
Jungle Ventures and EV Growth lead $75 million round for Waresix, backing the company's integrated platform as a solution to Indonesia's logistics challenges
LPs see decoupling as bigger issue than delisting - AVCJ Forum
The long-term implications of US-China decoupling are of greater concern than the prospect of Chinese companies being forced to delist from US stock exchanges, LPs told the AVCJ China Forum.
Australia's BGH backs online travel agent
BGH Capital has invested an undisclosed sum in TripADeal, an online travel agent that caters to the Australia and New Zealand markets.
Blackstone makes $253m part-exit from India's Essel Propack
The Blackstone Group has made a partial exit from Indian packaging manufacturer Essel Propack (EPL) – which provides the tubes to 40% of the world’s toothpaste – generating proceeds of INR18.6 billion ($253.4 million).
China drug developer Sumgen raises $32m
Addor Capital has led a RMB220 million ($32 million) Series B funding round for Hangzhou-based drug developer Sumgen Biotech.
Corporate VCs & climate change: Good citizens
Increased climate change awareness on a corporate level is leading to more investment – either direct or through funds – in start-ups that offer mitigation solutions. Asia is a key geography
Panacea leads $40m Series C for China's XWPharma
Healthcare-focused Panacea Venture has led a $40 million Series C round for China’s XWPharma, a neurobiology-focused biotech developer previously known as XW Laboratories.
Tencent backs Chinese healthcare cloud services platform
Kyee Technology, a Chinese digital medical platform has raised RMB430 million ($64 million) in a Series D round led by Tencent Holdings. Other investors include Longmen Capital, Dyee Capital and Royal Sea Capital.
Chinese mouse-based drug testing specialist raises $143m
Biocytogen, a Chinese contract research organization (CRO) that provides genetically-modified mice for drug testing, has raised RMB970 million ($143 million) in an extended tranche of Series D funding.
Japan's 31 Ventures establishes second fund with $81m
Japan-based 31 Ventures, a VC firm established by local investor Global Brain and property developer Mitsui Fudosan, has launched a second fund of JPY8.5 billion ($81 million).
Long Hill invests $30m in Chinese O2O pharmacy player
Chinese digital healthcare platform inCarey has raised $30 million in an extended tranche of Series B funding from Long Hill Capital.
DCP pursues $5.6b take-private of China's 51job
DCP Capital Partners has submitted a take-private offer for Chinese online recruitment services platform 51job that values the company at approximately $5.6 billion.
India insurance tech provider raises $60m
Acko, an Indian financial technology start-up touted as the country’s only digital-native insurer, has secured a $60 million investment featuring Amazon and two global insurance providers.
China rebound favors the few - AVCJ Forum
China’s economy has rebounded from COVID-19 faster than most others, but the pandemic has exposed a widening wealth gap in the country, industry participants told the AVCJ China Forum.
Lightspeed establishes Southeast Asia VC team
Lightspeed Venture Partners has formalized its Southeast Asian practice with the nomination of Akshay Bhushan (pictured) as head of a new Singapore office and three additional hires.