Sectors
India's Convergent invests $49m in Puma sportswear spinout
Convergent Finance, a private equity firm founded by former Fairfax India head Harsha Raghavan, has invested INR 4bn (USD 49m) in Agilitas Sports, a local spinout of German sportswear giant Puma.
Apax invests $450m in India’s IBS Software, Blackstone exits
Apax Partners has agreed to pay USD 450m for a significant minority stake in India’s IBS Software, a travel and logistics industry supplier, enabling an exit for The Blackstone Group.
Hong Kong family office SPAC agrees $27bn merger with Vingroup EV unit
A special purpose acquisition vehicle (SPAC) launched by the family office of Lawrence Ho, son of Macau casino tycoon Stanley Ho, has agreed to merge with the electric vehicle (EV) unit of Vietnam’s Vingroup.
Japan’s Dimension closes second VC fund on $75m
Dimension, a spinout of Japan’s Dream Incubator, has closed its second VC fund with JPY 10.1bn (USD 75m) in commitments.
Macquarie Capital acquires majority stake in India’s CloudExtel
Macquarie Capital, the investment arm of Australia’s Macquarie Group, has acquired a 51% stake in Indian digital connectivity technology provider CloudExtel for about USD 100m.
China's Coherent Biopharma raises $100m
Chinese cancer-focused biotech developer Coherent Biopharma has raised about USD 100m in Series B funding featuring HM Capital.
KKR takes out Rakuten's stake in Japanese retailer Seiyu
KKR has increased its stake in Japanese supermarket operator Seiyu to 85%, having taken out a position held by local e-commerce giant Rakuten, which supported the private equity firm’s carve-out in 2020.
New Zealand's Movac raises $125m for Fund VI
New Zealand-based Movac has closed its sixth technology fund on NZD 202m (USD 125m) despite what Mark Vivian, a general partner at the venture capital firm, described as “the most challenging fundraising conditions I've experienced since the GFC [global...
Blackstone falls short in bid to delist India's R Systems
The Blackstone Group has failed to delist Indian IT provider R Systems due to insufficient interest from public shareholders six months after agreeing on a majority acquisition.
China's Pudu Tech raises another tranche of Series C funding
Pudu Tech, a China-based manufacturer of service robots, has raised a fourth tranche of Series C funding amounting to several hundred million renminbi (CNY 100m equates to USD 14m) from local investor Yuedu Capital.
Singapore coffee chain raises $50m Series B
US-based VC firm White Star Capital has led a USD 50m Series B round for Singapore's Flash Coffee, an app-driven coffee chain.
Foundation secures secondary deal with India's Carpediem
Asia secondaries specialist Foundation Private Equity has acquired stakes in three portfolio companies held by India’s Carpediem Capital through the purchase of new and existing shares.
Singapore wine cleantech start-up raises $10m
Singapore’s EcoSpirits, a start-up focused on low-carbon technology for the wine industry, has raised a USD 10m Series A round led by US circular economy specialist Closed Loop Partners.
Bessemer pledges USD 1bn for global AI deals
Bessemer Venture Partners, a US-based early-stage investor currently expanding a longstanding presence in India, has earmarked USD 1bn for artificial intelligence (AI) start-ups globally.
Japan's Genesia closes Fund III on USD 110m
Japan’s Genesia Ventures, a seed-stage tech investor with a presence in Indonesia and Vietnam, has closed its third fund on USD 110m.
Fireside leads $40m Series B for India's Ripplr
Fireside Ventures has led a USD 40m Series B round for India-based distribution and logistics platform Ripplr. The round comprised USD 28m in equity funding and USD 12m in debt.
Actis launches $500m Japan renewables platform
Actis has formed a USD 500m Japan renewables platform and acquired Hergo Japan Energy Corporation, which has around 230 megawatts in operating and development projects, as the seed asset.
Shunwei commits $29m to China expense management platform
Maycur, a China-based software-as-a-service (SaaS) provider specialising in corporate expense management, has raised CNY 200m（USD 29m in Series C funding from Shunwei Capital.
China autonomous driving player Mogo raises $84m
Mogo Auto, a Chinese autonomous driving solutions provider, has raised CNY 580m (USD 84m) in a Series C extension featuring Tencent Holdings.
CLSA exits Japan parking lot operator to Advantage
CLSA Capital Partners (CLSA CP) has agreed to sell Japanese coin-operated parking lot business Ecolocity to Advantage Partners for an undisclosed sum.
Japan's SMBC, Incubate set up USD 200m Asia VC fund
Sumitomo Mitsui Banking Corporation (SMBC) has established a USD 200m growth and late-stage pan-Asian VC fund in partnership with Japan’s Incubate Fund, which will co-manage the vehicle.
Fund focus: Chiratae eyes global growth
Chiratae Ventures has raised a growth-stage fund to participate in later-stage rounds for Indian portfolio companies that are becoming ever larger and ever more international in their outlook
Fund focus: Integra focuses on the fintech layer
One of few sector specialists in market populated by Indonesia-focused generalists, Integra Partners has fashioned a differentiated investment narrative. LPs committed $90m to the cause
Q&A: ShawKwei & Partners’ Kyle Shaw
Kyle Shaw, founder and managing partner of ShawKwei & Partners, on bright spots in industrial manufacturing and becoming more Southeast Asia-centric as supply chains reduce China exposure