Sectors
Deal focus: XtalPi takes big pharma into the cloud
China and US-based XtalPi has raised $61 million this year from investors impressed its use of quantum physics, computational chemistry, and artificial intelligence to bring greater certainty to drug development
TPG Growth leads $42m round for Indian NBFC
Ess Kay Fincorp, an Indian non-banking finance company (NBFC) focused on automotive and small business loans, has raised a $42 million round led by TPG Growth, the middle market investment platform of TPG Capital.
Deal focus: MOPE re-enters India’s automotive market
Having tracked India-based Happy Forgings for five years, Motilal Oswal Private Equity is now confident in the company's ability to build its presence in the domestic and export auto components markets
Innovent Biologics gains on debut after $421m IPO
Chinese cancer drug developer Innovent Biologics, which has a number of PE backers, closed up on its Hong Kong trading debut, following a HK$3.3 billion ($421 million) IPO.
INCJ leads $50m round for Singapore's Astroscale
Innovation Network Corporation of Japan (INCJ) has led a $50 million Series D round for Astroscale, a Singaporean space technology company focused on orbital debris removal.
Alliance Ventures backs China's WeRide
Alliance Ventures, an automotive-focused venture capital unit set up by Renault, Nissan Motor and Mitsubishi Motors, has invested in Chinese autonomous vehicle technology company WeRide.
India's NIIF to acquire infrastructure lender
India’s National Investment & Infrastructure Fund (NIIF) has agreed to acquire IDFC Infrastructure Finance (IDFC IFL), an infrastructure-focused non-banking finance company (NBFC), in its first solo control transaction.
Insight hits $72m second close on China healthcare fund
China’s Insight Capital has reached a second close on its latest healthcare fund with commitments of RMB500 million ($71.7 million).
Affinity, BRV seal Shinsegae e-commerce deal
Affinity Equity Partners and BRV Capital Management have finalized an agreement with Shinsegae that will see them invest a combined KRW1 trillion ($878 million) in the South Korean retail group’s e-commerce business.
Portfolio: Advent International and King Koil China
Looking to apply its US mattress retail expertise in China’s fragmented market, Advent International bought King Koil China two years ago. It is now in the process of boosting online and offline sales growth
KKR invests $144m in Southeast Asia's PropertyGuru
KKR has committed S$200 million ($144 million) in Series D funding to PropertyGuru, a Singapore-based online property portal that has several existing private equity investors.
SE Asia-focused Chinese fintech player gets $70m Series C
Akulaku, a Chinese consumer finance platform that primarily serves customers in Southeast Asia, has raised $70 million in a Series C round led by fintech company Finup Group. Sequoia Capital India, Blue Sky Venture Capital, and Qiming Venture Partners...
Hillhouse, VMG target consumer brands
Hillhouse Capital and VMG Partners, a US-based PE firm focused on the consumer sector, have formed a strategic partnership to invest up to $100 million in innovative consumer brands worldwide.
Australia’s Pemba to exit Heavy Maintenance Group
Pemba Capital Partners – an Australian middle-market GP formerly known as RMB Capital Partners – has agreed to sell heavy equipment specialist Heavy Maintenance Group (HMG) to Malaysia’s Sime Darby for A$58 million ($41 million).
Hyundai, Yield Capital launch $100m energy VC fund
Korea’s Hyundai Motor and Yield Capital, an investment unit of Beijing-Tsinghua Industrial R&D Institute, have launched a $100 million VC fund focused on hydrogen energy.
CDH-backed Certusnet files for HK IPO
Certusnet, a China-based developer of telecommunication software backed by CDH Investments, has filed for an IPO in Hong Kong.
US, China-based Terns Pharma secures $80m Series B
Vivo Capital and Orbimed have co-led an $80 million Series B funding round for US and China-based Terns Pharmaceuticals.
Chinese new energy vehicle rental platform raises $43m
DST, a new energy vehicle rental service platform that mainly serves logistics companies, has raised RMB300 million ($43 million) in the first tranche of a Series B round led by Bojiang Capital, with participation from Japan's Itochu Corporation.
Deal focus: Quintet pumps Talent’s recruitment muscle
Australian middle-market GP Quintet Partners has targeted IT contract recruitment for its second investment, leveraging a global trend towards taking on staff as and when needed
Funds: GGV continues fund size scale-up
Applying technology to traditional industries is likely to feature prominently in GGV Capital's latest China-US fund, which has closed at $1.88 billion
Asia corporate VC: Company towns
Acceleration of development in the technology space is giving rise to a new generation of corporate VC investors. Building an identity separate from their parents is crucial to the success of these emerging firms
Booking invests $200m in Southeast Asia's Grab
Booking Holdings, which operates multiple online travel sites, has invested $200 million in Southeast Asia ride-hailing app Grab as part of a strategic partnership.
Keppel named preferred bidder for Blackstone-owned Ixom
Keppel Infrastructure Trust (KIT) has been named the preferred bidder for Ixom, a chemicals business that The Blackstone Group carved out of Australia’s Orica three years ago.
MBK completes exit from Korea's Coway
MBK Partners has agreed to sell its remaining stake in Korean water purifier business Coway to a subsidiary of Woongjin Group – the company from which it bought the asset in 2013 – for KRW1.68 trillion ($1.48 billion).