Sectors
PEP launches $165m takeover bid for Australia's Patties
Australian GP Pacific Equity Partners (PEP) has launched a bid to buy snack maker Patties Foods in a deal that values the company at A$203 million ($165 million).
China GPs underline merits of sector focus
China GPs must respond to the country’s economic slowdown by paying closer attention to picking sectors that can outperform – and in which they can help drive that performance – industry participants told the Hong Kong Venture Capital & Private...
Morgan Stanley marks down India's Flipkart again
Morgan Stanley Institutional Fund Trust has marked down its investment in Flipkart for the second quarter in a row, reducing its estimate of the Indian online retail giant by 15.5%.
Korea's Althea raises $3.5m Series A
Althea, a South Korean cosmetics e-commerce site that markets primarily to Southeast Asia, has raised a $3.5 million Series A round from a group of investors including Mirae Asset Ventures, Cherubic Ventures and 500 Startups.
Tencent invests in Korea's PE-backed YG Entertainment
China’s Tencent Holdings and Beijing Weiying Times Technology – an online ticketing platform in which Tencent is an investor – have committed approximately $85 million to YG Entertainment, a Korean record label and talent manager backed by L Capital...
Japan's Creema raises $10m round
Globis Capital Partners has led a JPY1.1 billion ($10 million) round for Japan-based Creema, the operator of an online consumer-to-consumer (C2C) marketplace specializing in handmade items.
Alibaba, Ant Financial to re-up in China’s Didi Chuxing
Alibaba Group and its financial affiliate Ant Financial plan to invest a further $400 million in Didi Chuxing. This comes as the Chinese ride-hailing app operator is raising a new round of fund said to be as large as $2.5 billion.
INCJ leads $10m round for Japan robotics start-up
Japanese robotics company 3D Media has received a JPY1.1 billion ($10 million) investment from Innovation Network Corporation of Japan (INCJ), Sparx Group and Mitsubishi UFJ Capital.
Intel Capital cancels plans for secondary sale
Intel Capital, the captive VC arm of Intel Corp, appears to have abandoned plans to offload some of its investments in technology companies, with Wendell Brooks (pictured), the unit’s president, saying there will be no major changes to the portfolio.
Lilly Asia, SBCVC invest $15m in China online drug seller
Healthcare-focused GP Lilly Asia Ventures and SBCVC have participated in a RMB100 million ($15 million) Series A round for 360 Haoyao, an online drug seller established by Chinese software company Qihoo360 Technology.
Aetius commits $5m Series A to Singapore's Cloud Alliance
Singapore-based mobile gaming platform developer Cloud Alliance has raised $5 million in Series A funding from Aetius Capital.
MBK-owned Komeda Coffee wins approval for Japan IPO
Komeda Coffee, a coffee shop chain owned by North Asia-focused MBK Partners, has won approval for a Tokyo IPO. The indicative price suggested the offering will be worth up to JPY60.2 billion ($547.4 million).
Fund focus: WI Harper sticks to small scale
While other VC firms have seen significant jumps in fund size as they target the growth space, WI Harper's latest Asia-US vehicle will remain focused on early-stage deals with a cross-border angle
Autohome shareholders challenge sale to China's Ping An
Minority shareholders of Chinese auto services company Autohome have filed a petition against a recent move by Telstra to sell the majority of its controlling stake to Ping An Insurance Group for $1.6 billion.
Asia leads first quarter global fintech investments
VC-backed companies in Asia led a worldwide surge of investments in financial technology companies in the first quarter of 2016, according to a new report from KPMG and CB Insights (CBI).
Vivo raises $100m for Sino-US healthcare VC fund
Healthcare specialist Vivo Capital has closed its latest Sino-US venture capital fund with around $100 million in commitments. The vehicle will focus on early-stage investments.
Kyobo Life bids for MBK-owned ING Life Korea
Kyobo Life Insurance, Korea’s third-largest insurer, has entered the bidding process for MBK Partners-owned ING Life Korea.
Deal focus: CITIC exits a bigger Tri-Wall
CITIC Capital Partners overcame strategic competition to buy a majority stake in Tri-Wall. After six years and significant financial and geographic expansion, it is exiting to a strategic player
China micro VC: The micro wave
Micro VC firms are a relatively new segment in China’s venture capital ecosystem, the product of angel investors going institutional. They focus on early stage deals, but as demand grows, will they stay there?
China’s Everbright, Baofeng buy control of MP & Silva
Two Chinese companies – Everbright Securities and entertainment specialist Beijing Baofeng Technology – have acquired a 65% stake in Italy-based sports media rights firm MP & Silva (MPS).
Chinese manufacturer buys PE-owned Thermal Dynamics
China Zhejiang Yinlun Machinery, a Shenzhen-listed manufacturer of heat exchangers, has acquired US-based counterpart Thermal Dynamics International (TDL) for $56.65 million, facilitating a full exit to US private equity backer Evergreen Pacific Partners.
China online grocer Benlai raises extended Series C round
Benlai.com, a Chinese B2C-focused online grocery supplier, has raised an extended Series C round of funding worth $17 million.
L Capital supports acquisition of global rights to Jones the Grocer
L Capital Asia has taken a significant minority stake in a company that has acquired the global rights to Jones the Grocer, a gourmet food retailer that originated in Australia.
Samara exits India-listed Asian Oilfield Services
Samara Capital has exited its stake in Indian listed oil and gas exploration services provider Asian Oilfield Services to Mumbai-based energy exploration firm Oilmax Energy for INR300 million ($4.4 million).