Sectors
China fintech in Indonesia: Uncertainty bites
Indonesia’s fintech space represents an attractive market for Chinese start-ups looking to go cross-border. However, their reputation has been soured by misbehaving P2P lending platforms
TPG backs European jewelry brand with strong China focus
A TPG Capital-led consortium will acquire a 30% stake in APM Monaco, a jewelry brand that was established in Europe nearly 40 years ago and now has its largest retail footprint in China.
Malaysia's RHL Ventures launches SME fund
RHL Ventures has launched a MYR100 million ($24.2 million) fund focused on small to medium-sized enterprises (SME) with a cornerstone investment from government-owned SME Corp Malaysia.
BlackRock leads $150m round in China's Luckin Coffee
Chinese coffee shop chain Luckin Coffee has raised $150 million in an extended Series B round at a valuation of $2.9 billion. It was led by BlackRock, which committed $125 million to the deal.
I Squared exits India's Amplus
Petroliam Nasional (Petronas), Malaysia’s state-run oil and gas company, has agreed to acquire Amplus Energy Solutions, an Indian solar power developer backed by I Squared Capital.
Gaw Capital backs Chinese restaurant services platform
China-based Candao, which helps restaurants manage their online food delivery businesses, has raised RMB100 million ($14.9 million) in a Series A round led by Hong Kong-based Gaw Capital Partners and Beyond Ventures.
China early-stage investment round-up
Venture capital deals involving Pantera Capital, Third Rock Ventures, Hillhouse Capital, XVC, Angel Plus, SIG, Maxim Capital, Panda Capital, Baidu Ventures, and Matrix Partners China
Indonesia exits: Unmet expectations?
Indonesia has become a source of frustration for LPs that want to see more exits. A weak currency, slower growth and rising competition aren’t helping GPs as they seek to deliver the required returns
Chinese new energy vehicle maker Enovate raises $298m
China-based Enovate, which designs and produces new energy-powered vehicles, has raised RMB2 billion ($298 million) in a Series A round.
TA invests in India fertility business
TA Associates has acquired a significant minority stake in Indira IVF, an India-based provider of infertility services.
Jade Invest acquires China's Pudow Water
Chinese mid-market private equity buyout firm Jade Invest has acquired a controlling stake in Shanghai-based water purification company Pudow Water for an undisclosed sum.
EVs: Chemical balance
Investors targeting electric vehicles must consider strategies that support the underlying technical development of the industry. The underdeveloped battery segment is ripe for digitization
INCJ-backed Japan Display agrees $2.1b foreign bailout
Japan Display, an electronics supplier backed by Innovation Network Corporation of Japan (INCJ), has agreed a JPY232 billion ($2.1 billion) bailout, including an approximately $714 million investment from China’s Harvest Fund Management.
Legend leads round for Chinese self-driving tech specialist
China and US-based autonomous driving technology developer Black Sesame has completed its Series B round of funding, raising around $100 million led by Junhai Chuangxin, an investment vehicle under Legend Capital.
ADB, Kaizen back Philippines education business
The Asian Development Bank (ADB) and education-focused Kaizen Private Equity have invested PHP1.6 billion ($31.5 million) in Phinma Education Holdings, the tertiary education arm of Philippines-based conglomerate Phinma.
Proventeus exits Philippines franchise of Kenny Rogers Roasters
Proventeus Capital, a Southeast Asia-focused middle-market buyout firm, has exited the Philippines franchise of casual dining chain Kenny Rogers Roasters to the company’s founders, receiving PHP1.79 billion ($34 million).
IDG, CDH back China cancer testing kits producer
IDG Capital Partners and CDH Investments have led an RMB300 million ($45 million) Series B round for China-based Creative Biosciences, a manufacturer of testing kits for colon cancer.
Japan's Astroscale expands Series D by $30m
Astroscale, a Japan-based space technology company focused on debris removal, has announced a $30 million extension to its Series D round, bringing the total raised to $80 million.
China's Pony.ai to receive $50m from Beijing Kunlun Tech
China and US-based autonomous driving technology developer Pony.ai will receive $50 million from listed internet company Beijing Kunlun Tech in a deal that values the business at approximately $1.7 billion.
Sequoia China, HighLight back biotech player Cullgen
Sequoia Capital China and HighLight Capital have led a $16 million Series A round for Cullgen, a biotech company that develops treatments for cancer by targeting previously “undruggable” cellular proteins.
CCA's VC unit expands into Indonesia
Coca-Cola Amatil (CCA), an Australia-listed food and beverage distributor for Coca-Cola and several other food brands, has established a branch of its venture capital unit Amatil X in Indonesia.
Deal focus: Efficiency by numbers
Chinese big data services provider MiningLamp Software has raised $298 million with a view to expanding into new verticals. The effort will leverage a strong foothold in police and surveillance work
CVC secures partial exit from Indonesian sports retailer
CVC Capital Partners has made a partial exit from Indonesian sports retailer MAP Aktif Adiperskasa, generating proceeds of approximately IDR4.1 trillion ($288 million) through a share sell-down.
INCJ leads $230m round for Japan's JOLED
Innovation Network Corporation of Japan (INCJ) has led a JPY25.5 billion ($230 million) round for domestic display screen manufacturer and technology developer JOLED.