Sectors
AVCJ Awards 2022: Exit of the Year – IPO: GoTo
GoTo’s rocky start on the Indonesia Stock Exchange betrays the pioneering nature of the listing and cements a legacy as an ecosystem lynchpin. Long-time backer Openspace Ventures reflects
New Zealand hydrogen player raises $14m
New Zealand hydrogen and zero-emission technologies developer Fabrum has raised a NZD 23m (USD 14.5m) Series A round led by UK-based AP Ventures.
Japan's Baseconnect gets $41m Series B
Japanese corporate contact and recruitment database provider Baseconnect has raised a JPY 5.4bn (USD 41m) Series B round led by Z Venture Capital (ZVC), formerly YJ Capital.
Carlyle launches tender offer for Japan's Iwasaki Electric
Iwasaki Electric, a Japanese lighting solutions provider that has worked on projects ranging from sports stadiums to hospitals, is set to be acquired by The Carlyle Group through a tender offer at a valuation of JPY 34.9bn (USD 266m).
India, US-based Usher closes $50m Series C
Third Point Ventures has led a USD 50m Series C round for India and US-based enterprise artificial intelligence (AI) and automation technology provider Ushur.
MO Alts pays $48m for stake in Indian diaper maker
Motilal Oswal Alternates (MO Alts), formerly Motilal Oswal Private Equity, has invested INR 4bn (USD 48m) in India’s Pan Healthcare, a hygiene products maker best known for diapers.
Deal focus: EdenFarm rethinks Indonesian agriculture
EdenFarm is tackling Indonesia’s fragmented agribusiness space with a B2B fresh produce marketplace that not only helps distribute crops, but helps them grow in the first place
LP interview: Quilvest Capital Partners
Fund-of-funds Quilvest Capital Partners was an early-mover in PE globally but has maintained a lean profile that speaks to its family office roots. It is pressing ahead with a China and India-focused Asia strategy
Deal focus: Serving the sole trader
Accounting software provider Hnry has built up a following among freelancers and self-employed tradespeople in New Zealand and Australia. A USD 25m Series B will help it look further afield
Fund focus: ChrysCapital accumulates $1.4b India war chest
For ChrysCapital Partners, raising India’s largest private equity fund reflects the growth in the economy and in the investment opportunity, with bigger deals across more sectors on the agenda
Monolith sets $250m hard cap for China fund
Monolith Management, an investment firm established by Xi Cao, formerly a partner at Sequoia Capital China, has set the hard cap at USD 250m for its debut China venture capital fund.
Adamantem buys Australia's Retail Zoo from Bain
Adamantem Capital has acquired a majority stake in Retail Zoo, operator of Australia-headquartered food retail brands Boost Juice and Betty’s Burgers, from Bain Capital for an undisclosed sum.
AVCJ Awards 2022: Deal of the Year – Large Cap: Crown Resorts
Crown Resorts represented a daunting target, given its size and pandemic and regulatory-related challenges. The Blackstone Group drew on its global know-how to make the USD 8.1bn deal work
Shunwei, Xiaomi lead round for China automotive chip maker
Rhino, a China-based developer of chips used in autonomous driving, has raised an extended angel round of several hundreds of millions of renminbi.
Singapore accelerator targets packaging industry
Enterprise Singapore (EnterpriseSG) and US packaging giant Avery Dennison are bankrolling a start-up accelerator that will explore everything from new boxing materials to tech-enabled tags.
China's Structure Therapeutics soars on US debut
Structure Therapeutics, a China and US-based drug developer specialising in novel oral therapeutics, performed strongly on its trading debut following an upsized USD 161.1m NASDAQ IPO.
AVCJ Awards 2022: Responsible Investment: Sido Muncul
Affinity Equity Partners leveraged a minority position to exert significant influence on the growth of Sido Mucul, an Indonesian herbal wellness brand with a complex, fragmented operating model
Southeast Asia's Openspace seeks $650m for latest vintage
Southeast Asia-focused Openspace Ventures is targeting USD 300m for its fourth venture capital fund and USD 350m for its second growth vehicle.
Japan's Global Brain, Meiji Yasuda launch $39m VC fund
Japan’s Global Brain has further extended a string of corporate VC partnerships, teaming up with Meiji Yasuda Life Insurance to launch a JPY 5bn (USD 39m) fund.
Sequoia backs China hydrogen battery player
Sequoia Capital China has led a CNY 240m (USD 36m) Series C round for Suzhou-based Thinkre New Material, a battery technology supplier focused on hydrogen fuel cells.
US investor secures control option for Melbourne football club
Shareholders in Australian football club Melbourne Victory have approved a proposal that allows US-based investor 777 Partners to take a majority stake.
MBK buys Japan aged care business
MBK Partners has acquired Unimat Retirement Community (URC), a Japan-based company that primarily provides in-home and residential nursing care services.
Creador, Navegar back Philippines supermarket chain
Creador and Navegar have invested an undisclosed sum in the Philippines business of Switzerland-based discount grocery and supermarkets operator Dali.
L Catterton Asia SPAC to merge with Geely-owned Lotus EV unit
A US-listed special purpose acquisition company (SPAC) launched by L Catterton Asia has agreed to merge with Lotus Technology, an electric vehicle (EV) unit under the Lotus luxury car brand owned by Chinese automaker Geely Holding.