Sectors
Korea's ACE Equity buys stake in semiconductor testing player
ACE Equity Partners, a Korean private equity firm that operates on a project fund basis, has agreed to invest KRW205 billion ($174 million) in local semiconductor testing specialist Tesna.
VCs set for exit as Alibaba buys China cybersecurity start-up
Alibaba Cloud, a subsidiary of Alibaba Group, has agreed to acquire Chaitin Technology, a Chinese cybersecurity start-up backed by Matrix Partners and Qiming Venture Partners.
China’s Club Factory raises $100m Series D
Club Factory, a China-based e-commerce platform focused on India has raised a $100 million Series D round led by Qiming Venture Partners. Existing investors Bertelsmann Asia Investment and Frees Fund re-upped.
Lakeshore secures 2.75x return on Bangkok steakhouse deal
Thailand-based Lakeshore Capital has exited Bangkok area steakhouse chain Santa Fe to Singha Corporation for $50 million, generating a 2.75x return.
Deal focus: CDC gets comfortable in Bangladesh
Backing small business lender BRAC Bank and establishing an office in Dhaka is part of CDC Group's wider plan to more than double its exposure to Bangladesh over the next three years
Deal focus: Udaan signals India’s digital progress
B2B marketplace Udaan has achieved unicorn status faster than any of its illustrious Indian forbears. A readymade national broadband infrastructure certainly helped
VinaCapital invests Vietnam industrial supplier
A VinaCapital-led consortium will invest $21.4 million in Ngoc Nghia, a Vietnam-based plastics supplier that claims to be the largest local packaging materials producer of its kind.
Chinese online property marketplace set for IPO
Fangdd Network, a Chinese online real estate marketplace backed by the likes of FountainVest Partners and CDH Investments, has filed to list in the US.
Globis, WiL, Japan Post back Series B for AI Medical
AI Medical Service, a Japanese healthcare technology start-up working on what it claims is the world’s first artificial intelligence-enabled endoscopic diagnosis system, has raised JPY4.6 billion ($43 million) in Series B funding.
Creador leads Series C for India's Kogta Financial
Creador has led a INR3 billion ($42 million) Series C round for Kogta Financial, a non-banking finance company (NBFC) looking to deepen its penetration in India’s central and western states.
India’s Oyo raises $700m in ongoing Series F
Indian hotel platform Oyo has raised $700 million from RA Hospitality Holdings, an entity controlled by founder and CEO Ritesh Agarwal, as part of a Series F round targeting $1.5 billion.
VC-backed Chinese AI companies hit by US blacklisting
Eight Chinese artificial intelligence (AI) start-ups have been blacklisted by the US government. Several have received PE and VC funding, including SenseTime and Megvii Technology.
Deal focus: Avataar seeds India SaaS portfolio
Having won support from HarbourVest Partners to spin out a portfolio from his former employer, Norwest Venture Partners, Mohan Kumar is taking aim at India's underdeveloped enterprise software space
US tech regulation: Green card or red card?
Compliance with US regulations on foreign investment in critical technologies is forcing Chinese VC players to examine their fund structure and governance as well as their deployment strategies
Chinese apartment rental platform Qingke pursues US IPO
Q&K International Group, operator of China-based long-term apartment rentals platform Qingke, has filed for a US IPO. Its backers include Morgan Stanley Private Equity Asia (MSPEA) and Crescent Point.
Chinese fresh produce retailer Benlai raises $200m
Chinese online fresh produce retailer Benlai Group has raised $200 million in the first tranche of a Series D round led by Mingde Holding. Existing investors Gaorong Capital and CDH investments re-upped.
CLSA exits Japanese automotive tools retailer
CLSA Capital Partners has exited Worldtool, a Japanese automotive tools retailer that primarily operates under the Astro Products brand, to domestic home improvement chain Royal Homecenter.
Navis buys Malaysian durian producer
Navis Capital Partners has acquired Malaysian durian products exporter Hernan Corporation with a view to leveraging strong demand for the fruit in China and in Chinese communities globally.
Cortina targets $100m for Australia cross-border fund
Cortina Capital, a private equity firm that invests in Australian health and wellness brands with export potential in China and other Asian markets, is looking to raise $100 million for its debut fund, AVCJ understands.
Tencent injects $150m into China's VIPKid
VIPKid, China-based English language learning platform, has announced the completion of a Series E funding round led by Tencent Holdings.
Family offices: The IT crowd
Asia's family offices have benefited by going big on growth capital and venture, leveraging technology trends in the region. However, not all family money is smart money
Deal focus: Darwinbox prioritizes Southeast Asia
Human resources software provider Darwinbox is among the Indian business services players leading the charge into Southeast Asia
PropertyGuru seeks as much as $256m in Australia IPO
PropertyGuru, a Southeast Asia-focused online real estate portal that counts TPG Capital and KKR among its investors, is looking to raise up to A$380.2 million ($256 million) through an IPO in Australia.
Anacacia backs Australian industrial consulting business
Anacacia Capital has invested in Root Partnerships, which claims to be one of Australia’s largest independent infrastructure advisory and project management firms.