Sectors
Vision Plus raises $500m for China VC funds
Vision Plus Capital Partners, a Chinese venture capital firm set up by one of the co-founders of Alibaba Group, has raised $500 million for its second US dollar and renminbi-denominated funds.
DCP to invest in Chinese heart valve developer
DCP Capital Partners, a private equity firm set up by the former heads of KKR’s China business, has agreed to invest an undisclosed sum in domestic heart valve developer Venus Medtech.
Chinese autonomous driving start-up gets $128m Series A
Roadstar.ai, a Chinese start-up that specializes in autonomous driving technology, has received $128 million in Series A funding led by Shenzhen Capital Group and Wu Capital.
JD.com invests in PE-backed Asia logistics platform
Chinese online retailer JD.com has invested $306 million in e-Shang Redwood (ESR), a private equity-backed pan-Asia logistics operator and fund manager.
Q&A: IDG Ventures Vietnam's Henry Nguyen
Start-ups are attracting more attention in Vietnam as technology-oriented business models take root and local success stories emerge. Henry Nguyen of IDG Ventures Vietnam maps out the landscape
Australia's Westpac invests $37m in Reinventure
Australia’s Westpac Banking Corp has committed A$50 million ($37 million) to the third fund of its venture capital unit Reinventure.
Blackstone makes $217m partial exit from India's Mphasis
The Blackstone Group has made a partial exit from Indian IT services provider Mphasis, selling an 8% stake in the publicly traded company for approximately INR14.8 billion ($217 million).
Vietnam consumer: Trading up
Vietnam’s consumer economy is attracting a wider range of investors as deal sizes inflate and new openings emerge in a winding value chain. Private equity is positioned to exploit several vantage points
Japanese unicorn Mercari targets $1b IPO, VCs set for exits
Mercari, a venture capital-backed Japanese consumer-to-consumer marketplace that became the country’s first unicorn in 2016, plans to raise up to JPY110 billion ($1 billion) through a domestic IPO.
Singapore's M17 Entertainment files for US IPO
M17 Entertainment, a Taiwan and Singapore-based media streaming company, has filed to list on the New York Stock Exchange.
Brookfield enters the fray for Australia's Healthscope
Brookfield Asset Management has submitted a A$4.35 billion ($3.3 billion) bid for Australian hospital operator Healthscope, trumping an offer made last month by a BGH Capital-led consortium.
Rakuten, EDBI lead $85m round for classifieds player Carousell
Rakuten Ventures and EDBI have led an $85 million Series C funding round for Singapore’s Carousell, an online flea market shopping app operator.
Beyond, Linear invest Hong Kong's Insight Robotics
Beyond Ventures and Linear Capital have co-led a $9 million investment in Insight Robotics, a Hong Kong-based company that specializes in advanced forest fire detection systems.
India's True North to buy stake in Federal Bank NBFC
True North has agreed to buy a 26% stake in Fedbank Financial Services (Fedfina), a non-banking financial company (NBFC) controlled by India’s Federal Bank.
Warburg Pincus, GIC set up China rental apartment platform
Warburg Pincus and Singapore’s GIC Private will establish a RMB4.3 billion ($675 million) platform for investing in rental apartments in China’s tier-one cities.
Singapore's Carro gets $60m Series B
Singapore-based automotive marketplace operator Carro has received a $60 million Series B funding round led by Softbank Ventures Korea, Insignia Ventures Partners and B Capital Group.
Korea's Crescendo makes partial exit from Model Solution
South Korean GP Crescendo Equity Partners has agreed to make a partial exit from precision prototype manufacturer Model Solution as part of a deal that will see Hankook Tire assume control of the business.
VC-backed Huya gains on US trading debut after $180m IPO
Huya, a Chinese game broadcasting business that spun out from social networking platform YY, gained 33.8% on its New York Stock Exchange trading debut following a $180 million IPO.
Chinese restaurant services app receives $63m
Mwee.cn, a Chinese restaurant booking app, has raised RMB400 million ($63 million) in the first tranche of a Series D funding round led by Koubei, Alibaba Group’s local services platform, and travel services business Ctrip.
Tech entrepreneurs and family offices: Collective might
Investment firms are emerging in Asia that leverage the collective wealth, knowledge and networks of the region's most successful internet entrepreneurs. These are family offices, but not necessarily in the traditional Western model
Pencarrow invests New Zealand yogurt maker
New Zealand-based Pencarrow Private Equity has paid an undisclosed sum for a 39% stake in domestic yogurt maker The Collective.
GLP establishes $1.6 billion China logistics fund
GLP, a private equity-owned warehouse operator based in Singapore, has launched a RMB10 billion ($1.6 billion) PE fund that will invest in the China logistics ecosystem. It is the second Chinese fund set up by the company this year.
Chinese long-term property rental players get PE funding
Two more Chinese online long-term property rental platforms – Uoko.com and Baletu.com – have received private equity funding as young people opt to rent rather than buy in a climate of high property prices.
Sequoia leads $40m round for Hong Kong biotech player
Sequoia Capital China has led a $40 million Series B round of funding for MabSpace Bioscience, a Hong Kong-headquartered drug developer that specializes in cancer treatments.