Sectors
Polaris picks up Japan advertising, recruitment assets
Polaris Capital Group has acquired Sendenkaigi, which claims to be Japan’s leading publisher of marketing and communications-related content, as well as its recruitment-focused subsidiary.
Indonesia’s Kredivo raises $270m Series D
Indonesian consumer credit company Kredivo, formerly known as FinAccel, has completed a USD 270m Series D round led by Mizuho Bank, which provided USD 125m.
Accenture buys India's VC-backed Flutura
Flutura, an India-headquartered provider of artificial intelligence-enabled (AI) analytics services to industrial customers, has been acquired by Accenture. The deal facilitates an exit for several VC investors, including Vertex Ventures.
Samsung backs Korea autonomous delivery start-up
Samsung Venture Investment has invested in Korea’s Neubility, a robot maker aiming to “automate urban sidewalks” via autonomous rolling boxes capable of on-demand deliveries.
China pool cleaning robot start-up gets $29m angel round
GL Ventures, Shunwei Capital, and Source Code Capital have participated in a CNY 200m (USD 29m) angel round for Xingmai Innovation, a China-based developer of robots that clean swimming pools.
Altos, Mirae Asset re-up Korea's Kream in $39m round
Altos Ventures and Mirae Asset Capital have each made their third investment in the past 18 months in Korean e-commerce player Kream, with the latest round amounting to KRW 50.6bn (USD 38.8m).
BPEA EQT seeks financing for Vistra, Tricor merger
BPEA EQT is pushing ahead with the merger of Asia-headquartered corporate services providers Vistra Group and Tricor Group, having initiated discussions on pricing a USD 1.66bn financing package.
Deal focus: WorldLink reaches into Nepal’s hinterlands
British International Investment and Dolma Fund Management are supporting WorldLink’s rollout of internet services in Nepal, having been impressed how the company handled COVID-19
Southeast Asia VC: Drought survivors
As weaker sentiment for technology risk cools venture capital markets globally, Southeast Asia is lagging in limbo. Investors remain bullish but continue to hold their fire amidst questions around valuations
Deal focus: India’s IIFL plans hospital expansion
India’s IIFL Asset Management is taking its private equity business deeper into healthcare with Kauvery Hospitals. The plan is to double patient capacity and IPO within three years
Deal focus: GL Capital plots careful China carve-out
GL Capital worked quietly but industriously to secure a leveraged buyout of China-based contract manufacturer Foryou Medical Devices – even using renminbi financing to avoid US dollar interest rate exposure
DEG leads round for Indonesian mRNA vaccine developer
German development finance organisation DEG has contributed USD 8m as the lead investor in a new funding round for Etana Biotechnologies Indonesia, supported by Yunfeng Capital, HighLight Capital, and East Ventures.
China energy storage player Weview raises $87m
Weview, a China-based battery manufacturer, has raised a Series A of CNY 600m (USD 87m) led by two state-backed investors - Guohe Xinli, which is a fund under the State Development & Investment Corporation (SDIC) and Zhuhai-based Da Heng Qin Group.
Singapore electronics marketplace Reebelo extends Series A to $50m
Singapore electronics marketplace Reebelo has lifted its Series A round to USD 50m with a USD 29m commitment led by Cathay Innovation.
Malaysia's Khazanah launches start-up programme
Malaysian sovereign wealth fund Khazanah Nasional has launched a VC collaboration and start-up investment programme with an initial MYR 180m (USD 40m).
Asia PE compensation set for downward adjustment in 2023
Compensation for private equity professionals at most levels of seniority in Asia Pacific continued its upward trend in 2022 despite a weaker economic outlook and a slowdown in deal flow, but executive search firm Heidrick & Struggles expects some kind...
Australia's Potentia wins majority shareholder approval for Nitro bid
Potentia Capital has secured support from more than half of Nitro Software’s shareholders for a take-private bid that values the listed Australian company at up to approximately AUD 552m (USD 370m).
China generative AI player LangBoat gets pre-Series A
LangBoat, a China-based generative artificial intelligence (AI) company, has raised a pre-Series A round led by Beijing Zhongguangcun Science City. Eight Roads and Sinovation Ventures re-upped.
Japan's Aspirant announces third exit in three weeks
Aspirant Group has sold Japan’s only offshore drilling contractor, Japan Drilling (JDC), to JX Nippon Oil Exploration Corporation for an undisclosed sum, marking its third exit in as many weeks.
China chatbot maker Xiao-I trades down after US IPO
China-based chatbot company Xiao-I has traded down 17.5% since raising USD 39m in a disappointing NASDAQ IPO on March 9.
China cell therapy developer Neowise raises $29m
Chinese cell therapy company Neowise has raised an extended Series A round of CNY200m (USD 29m) from a group including Oriza Seed Fund Management and Marathon Venture Partners.
ADIA invests $500m in India's Lenskart
Abu Dhabi Investment Authority (ADIA) has agreed to invest USD 500m in Indian eyewear retailer Lenskart. It would bring pre-IPO funding in the past 12 months to around USD 750m.
Heritas hits $20m first close on Asia impact fund
Singapore-based private equity firm Heritas Capital has reached a first close of USD 20m on its latest Asia impact fund against an overall target of USD 50m. DBS contributed USD 10m.
CVC invests $155m in Indonesia gas company
CVC Capital Partners has committed USD 155m to Indonesia-listed Samator Indo Gas, the largest industrial and medical gas producer in the country.