Sectors
China Renaissance collects $943m for renminbi fund
China Renaissance has closed the third renminbi-denominated fund raised under its flagship Huaxing Growth Capital arm with more than RMB6.5 billion ($943 million) in commitments.
China consumer: The low road
Pinduoduo's success in bringing e-commerce to China's lower-tier cities has inspired a host of other start-ups to do the same, but they must be mindful of broader consumer trends
Deal focus: Allegro secures stake in Australia radiology business
The doctors who own and operate Perth Radiologic Clinic know Allegro Funds from their time as a subsidiary of I-Med Networks. This familiarity helped the Australian GP secure one of its largest-ever deals
Gates Foundation, global insurers back Indonesia's Halodoc
The Bill & Melinda Gates Foundation has made a rare direct investment in Southeast Asia, participating in an extended Series B round for Indonesian healthcare technology provider Halodoc.
Japan space tech start-up raises $100m
Synspective, a Japan-based satellite developer and orbital data services provider, has raised $100 million in a Series A round with participation from a group including SBI Investment.
SAIF exits as PepsiCo invests $130m in Chinese food distributor
Pepsico has agreed to invest HK$1.02 billion ($130 million) in Natural Food International, a Hong Kong-listed health food distributor, providing a full exit for SAIF Partners.
Aion to invest $44m in India's Future Lifestyle
Aion Capital Partners has agreed to invest INR3 billion ($43.5 million) in India-listed integrated fashion retailer Future Lifestyle Fashions (FLF).
Deal focus: Smartly plans pan-SE Asia robo advisory
Keir Veskivali defied the odds to introduce robo advisory services for retail investors to Singapore. Now he brought in VinaCapital to help take the business global
SoftBank expects at least $108b for second Vision Fund
SoftBank Group is set to establish its second Vision Fund focused on artificial intelligence (AI) with about $108 billion in initial commitments.
Legal tech segment to see consolidation
Rapid growth in the legal tech segment globally will create M&A opportunities as the market consolidates, according to Dan Jansen, CEO of US-based specialist investor Nextlaw Ventures.
Toyota invests $600m in China's Didi
Japan’s Toyota Motor Corporation has agreed to invest $600 million in Chinese ride-hailing giant Didi Chuxing and to expand their joint venture focused on services for Didi’s drivers.
Bain forms Asia data center platform
Bain Capital has become the latest private markets investor to back a pan-Asian data center platform with the merger of existing portfolio companies covering China, Southeast Asia, and India.
Deal focus: Olympus backs big plans for Thailand's smallest bank
Olympus Capital has paid $91 million for a 25% stake in microfinance and micro-SME lending specialist Thai Credit Retail Bank. It wants to double the loan book and support digitization of services
PE investors exit The Coffee Bean & Tea Leaf to Jollibee
Advent International, CDIB Capital and Mirae Asset Private Equity are set to exit US-based cafe chain The Coffee Bean & Tea Leaf after the Philippines’ Jollibee Foods agreed to pay $350 million for the company.
Australia establishes wine industry accelerator
South Australia is launching an accelerator program to help start-ups in the wine and tourism industries take advantage of new technologies.
Sequoia, Lightspeed make partial exits from India's Oyo
Sequoia Capital India and Lightspeed India Partners have made a partial exit from India-based online hospitality platform Oyo through a $2 billion round comprising primary and secondary shares. The round brings the company’s valuation to around $10 billion....
Accel leads $25m round for India's Drip Capital
Drip Capital, an India-based trade finance provider targeting small and medium-sized enterprises (SMEs) in emerging markets, has raised a $25 million Series B round led by Accel Partners.
Asia legal tech: Order in court
Legal tech investment is quietly booming from a small base, with the under-digitalized nature of law firms presenting both an opening and an inhibitor. First-mover ecosystems are self-organizing quickly
China's XVC raises $330m for Fund II
XVC, a Chinese early-stage investment firm established by Boyu Hu, formerly of DCM Ventures and Blue Lake Capital, has closed its second US dollar-denominated fund with around $330 million in commitments.
India's Five Star raises $50m round led by TPG
TPG Capital has led a $50 million funding round for Five Star Business Finance, an Indian non-banking finance company (NBFC) focused on small and medium-sized enterprises (SMEs).
Burda leads $40m Series B for Singapore's Hmlet
Germany’s Hubert Burda Media has led a $40 million Series B round for Singapore-based co-living operator Hmlet.
CDC makes first direct equity investment in Myanmar
UK government-backed CDC Group has made its first direct equity investment in Myanmar with a $30 million commitment to internet service provider Frontiir.
Shenzhen Capital seeks $290m for China healthcare fund
Shenzhen Capital Group is looking to raise upwards of RMB2 billion ($290 million) for its first healthcare fund as the Chinese venture capital firm continues efforts to diversify its product offering.
Deal focus: Igloohome puts smart home tech to work
Igloohome made its name providing smart locks for vacation rental properties listed on Airbnb and Booking.com. Breaking into the corporate security market is the next step