Sectors
Korea's CJ CheilJedang brings Bain into Schwan's deal
Korean consumer conglomerate CJ CheilJedang Corporation has agreed to sell a 27% stake in CJ Foods America – a vehicle established for the acquisition of US frozen foods provider Schwan’s – to Bain Capital for $320 million.
Deal focus: CITIC sees resilience in beauty
CITIC Capital has secured a carve-out of marketing and e-commerce services player UCO Cosmetics. It exploits an overall slowdown in China’s economy but also relative sturdiness in the local beauty industry
LP interview: Natixis
Natixis Investment Managers is leveraging a novel affiliate-manager structure to grow fund exposure in Asia in a sustainable way. Alternatives, and increasingly private equity, are driving much of the progress
Creador invests $18m in India's iValue
Creador has acquired a minority stake in iValue InfoSolutions, an India-based provider of cybersecurity services, for INR1.25 billion ($18 million).
India used car marketplace raises $13m Series A
SAIF Partners and Accel Partners have led a $13.2 million Series A round for Indian online used car marketplace Spinny, with participation by existing investors Blume Ventures and Simile Ventures.
Tencent leads $250m round for Chinese travel platform Mafengwo
Chinese travel platform Mafengwo has raised $250 million in a round of funding led by Tencent Holdings.
Deal focus: Archipelago makes Philippines banking play
Archipelago Capital Partners takes a minority stake in One Network Bank to support its parent's plans to lead the country's rural banking sector
Hong Kong's KaiOS gets $50m Series B
Hong Kong-based smart phone operating system provider KaiOs Technologies has raised a $50 million Series B round led by Cathay Innovation, a VC affiliate of Cathay Capital Private Equity.
Deal focus: Grofers returns to growth with Series F
Grofers is emerging from a rough patch in its mission to leverage India’s online grocery boom with an overhauled business model and a $200 million Series F round led by SoftBank Vision Fund
Sequoia, MassMutual lead Series B for Singapore's Biofourmis
Sequoia Capital India and MassMutual Ventures have led a $35 million Series B round of funding for Singapore-based Biofourmis, operator of a health analytics platform that tracks how patients are responding to treatment.
Deal focus: Clearing up Southeast Asia's currency chaos
Investors see opportunity in bringing a promising currency exchange-focused fintech model from Europe into Southeast Asia. Singapore-focused YouTrip is the region’s first mover in this niche
TPG to exit India cancer business for $283m
Asia Healthcare Holdings (AHH), an India-focused healthcare platform owned by TPG Growth, has agreed to sell cancer hospital chain Cancer Treatment Services International (CTSI) to US-based radiology player Varian Medical Systems for $283 million.
China restaurant industry supplier gets $14m Series A
China-based Zuodashi, which provides digital solutions and food accompaniments to restaurant delivery businesses, has raised RMB100 million ($14 million) in Series A round led by Hua Gai Capital.
Australia's Canva raises $70m at $2.5b valuation
Australian graphic design start-up Canva has raised $70 million from investors including US-based General Catalyst and Bond Capital, the new vehicle of Silicon Valley veteran Mary Meeker. It values Canva at $2.5 billion.
Wu Capital leads round for Chinese vocational training business
Sanjieke, a China-based vocational training services provider, has raised an RMB130 million ($19 million) in a Series B round of funding led by Wu Capital.
ADV to buy heavy vehicles unit from India's Tata
ADV Partners has agreed to acquire heavy vehicles producer Dutch Lanka Trailer Manufacturers (DLT), a Sri Lanka-based subsidiary of Indian conglomerate Tata Group, for INR3.05 billion ($43.7 million).
China's Luckin Coffee gains 20% after upsized IPO
China’s second largest coffee chain Luckin Coffee, which counts Centurium Capital and Joy Capital among its private equity investors, surged around 20% on its US debut following a $561 million IPO.
EMR launches third fund with $1.3b target
Australian resources-focused private equity firm EMR Capital has launched its third fund with a target of $1.3 billion.
Archipelago completes investment in Philippines bank
Southeast Asia-focused GP Archipelago Capital Partners has completed its investment in One Network Bank (ONB), the rural subsidiary of Philippines-listed financial services provider BDO Unibank.
New Zealand agtech player gets $6.7m
BioLumic, a New Zealand-based start-up that develops ultraviolet (UV) crop yield enhancement systems, has raised a $6.7 million Series A led by US agricultural technology VC firm Finistere Ventures.
GIC, Tata to invest $573m in India hotels
Singapore’s GIC Private has partnered with the Indian Hotels Company (IHCL), a hospitality unit of India’s Tata Group, for an Indian hotel platform that will invest INR40 billion ($573 million) over the next three years.
Vertex raises $230m for India, Southeast Asia fund
Vertex Venture Holdings (VVH), the VC arm of Singapore’s Temasek Holdings, has reached the initial $230 million target for its fourth Southeast Asia and India fund in a single closing.
GA, Värde cancel planned investment in India's PNB
General Atlantic and Värde Partners have terminated a planned INR18.5 billion ($267 million) investment in PNB Housing Finance, the publicly listed mortgage subsidiary of India’s Punjab National Bank (PNB).
Qiming leads Series B for Chinese hospital chain operator
Qiming Venture Partners has led a Series B round of nearly RMB100 million ($14 million) for Shanghai-based private hospital chain operator SinoUnited Health.