Sectors
Affinity sells Australia ticketing business to Silver Lake
Affinity Equity Partners has agreed its second Australia exit in three weeks, with Silver Lake set to assume control of ticketing business TEG. It follows a deal to sell a 35% stake in Virgin Australia’s frequent flyer business back to the parent company.
Southeast Asia's internet economy to be worth $100b in 2019
The gross merchandise value (GMV) of Southeast Asia’s internet economy will surpass $100 billion this year and hit $300 billion by 2025, according to a report by Google, Temasek Holdings, and Bain & Company.
Co-Stone leads $28m Series B for Chinese gene sequencer
Gene+ Technology, a Chinese provider of gene sequencing services used to support cancer diagnoses, has raised RMB200 million ($28 million) in a Series B round led by Co-Stone Asset Management.
India’s Udaan closes Series D at $585m
India’s Udaan has closed its Series D round at $585 million, with the latest contribution featuring Tencent Holdings and the VC arm of Citi. It values the B2B online marketplace at $2.5-3 billion.
Japanese flying car developer receives $14m
Japanese flying car developer SkyDrive has raised a $14 million funding round from a group including Itochu Technology Ventures and Strive.
Industrial intrigue: China's industry 4.0
Industry 4.0 is a handy buzzword for those selling a manufacturing upgrade story in China, but implementation remains a challenge. Smart Fabric’s efforts make it the exception to the rule
Chinese start-up media player 36Kr files for US IPO
36Kr, a Chinese news service that covers start-ups and emerging business models, has filed for a US IPO.
VIG acquires Korean education business
VIG Partners has agreed to pay KRW165 billion ($137 million) for a controlling stake in D.Share, an online-offline English language education provider in Korea.
Glenwood agrees $263m Korean glass carve-out
Glenwood Private Equity, a GP led by the son of Samsung Group’s former vice chairman, has agreed to buy the Korean glass-making operation of France-based Saint-Gobain for an enterprise value of EUR240 million ($263 million).
Hopu invests $119m in Chinese airport operator
Hopu Investments has agreed to invest HK$933 million ($119 million) in Regal International Airport, which operates Haikou Meilan International Airport in Hainan province and has ties to troubled Chinese conglomerate HNA Group.
Chinese snacks business receives $14m Series B
A1 Snack Lab – a Chinese snack brand based in Xiamen - has received RMB100 million ($14 million) in Series B funding from new and existing investors.
Bain buys Japanese email business from Cheetah Digital
Bain Capital Private Equity has acquired the Japanese email services business of Cheetah Digital, a US marketing firm backed by San Francisco-based Vector Capital.
CDC names Bangladeshi head, invests local bank
UK-based development finance institution CDC Group has cemented its presence in Bangladesh through an investment in local lender BRAC Bank and the naming of a country director.
Asia fintech: Micro is big
The lowest common denominator is getting lower in financial services as technology reaches deeper into the sector. Investors must keep up to speed on business model evolution
PE-backed Chinese health products distributor files for US IPO
Ecmoho, a China-based online distributor of health and wellness products from leading brands such as Abbott and Wyeth Nutrition, has filed for US IPO.
New Mountain Capital buys US-India BPO player
US private equity firm New Mountain Capital has agreed to acquire Emids, a US-headquartered business process outsourcing (BPO) provider with extensive operations in India, for an undisclosed sum.
Japan Industrial Partners agrees manufacturing carve-outs
Japan Industrial Partners (JIP) is poised to complete two carve-outs in the copper tube manufacturing space, having agreed to acquire a majority stake in a Kobe Steel-Mitsubishi Material joint venture and buy a division from Furukawa Electric.
Fund focus: Vertex pumps up in SE Asia, India
Having raised $305 million for its latest India and Southeast Asia fund, Vertex Ventures is looking to tap into themes of technological advancement common to both geographies
Japan investors back US token player Securitize
Japanese investors are supporting efforts to bring token-based economic infrastructure to Japan with participation in a $14 million round for US-based digital securities technology player Securitize.
PE-owned Belle to spin-out Chinese sports retail business
Belle International – the Chinese footwear retailer privatized by Hillhouse Capital and CDH Investments just over two years ago – is spinning out its sports retail unit through an IPO.
Sequoia leads $15m round for India's Darwinbox
Sequoia Capital India has led a $15 million Series B round for Indian human resources (HR) technology platform Darwinbox.
Deal focus: Russell Simmons backs Singapore's Gushcloud
Singapore-based Gushcloud International has teamed up with the founder of Def Jam Recordings to create a digital talent agency that realizes value for social media influencers in Asia and America
PE-backed Latitude targets up to $946m in Australia IPO
KKR, Värde Partners and Deutsche Bank plan to make partial exits through an IPO of Australian consumer lending business Latitude Financial, which is expected to raise as much as A$1.4 billion ($946 million).
Mekong targets $250m for fifth Vietnam fund
Mekong Capital has launched its fifth private equity fund focused on the Vietnam middle market. A hard cap has been set at $250 million.