Sectors
Jungle launches Southeast Asia, India seed programme
Singapore-based Jungle Ventures has launched a Southeast Asia-India seed programme, claiming a first-of-its-kind investment structure to limit dilution for founders.
China's Didi gets backing from state-owned carmaker
China ride-hailing platform Didi, which delisted from the New York Stock Exchange last year following a scandal-hit post-IPO period, has raised USD 149m in funding from state-backed carmaker GAC Group.
Japan plant-based meat player raises $47m
Japanese plant-based meat company Daiz has raised JPY 7.1bn (USD47.4m) in Series C funding that features Mitsubishi UFJ Capital.
East, SV target $100m for Southeast Asia-Korea fund
Indonesia-focused East Ventures and Korea’s SV Investment have launched dedicated Southeast Asia-Korea fund with a target of USD 100m.
Shangqi hits $575m second close on renminbi fund
Shangqi Capital, a private equity affiliate of Chinese automotive manufacturer SAIC Motor, has completed a second close of CNY 4.2bn (USD 575m) on its latest renminbi-denominated fund, bettering the overall target of CNY 4bn.
Legend Star closes fifth renminbi fund on $123m
Legend Star, the China-based venture capital arm of Legend Holdings, has closed its fifth renminbi-denominated fund with more than CNY 900m (USD 124m) in commitments.
India's InsuranceDekho raises $60m
Indian online insurance policy comparison and brokerage service InsuranceDekho has raised USD 60m in a Series B round featuring Goldman Sachs.
Japan's Beyond Next raises $67m for third VC fund
Japanese deep tech investor Beyond Next Ventures has achieved a first close of JPY 10bn (USD 67.1m) on its third flagship fund. The target is JPY 25bn.
BPEA EQT acquires Australia's VetPartners
BPEA EQT has agreed to acquire VetPartners, operator of Australia and New Zealand’s largest network of pet clinics and hospitals, from National Veterinary Associates (NVA).
IFC leads $24m Series B for India's Onsurity
The International Finance Corporation (IFC) has led a USD 24m Series B round for Indian employee healthcare insurance start-up Onsurity.
State-linked investors back Series D for China's DataCanvas
DataCanvas, a China-based artificial intelligence-driven (AI) big data solutions provider, has raised CNY 300m (USD 41m) in a first tranche of Series D funding with strong support from investors with ties to national-level state-owned enterprises (SOEs).
Fund focus: DSG buoyed by brand awareness
Demonstrated success in building consumer brands, India’s attractive macro story, and LPs looking to diversify their exposure within Asia are seen as key factors in DSG Consumers Partners’ fundraise
Trustar, Bain, BPEA EQT target Tyson Foods' China poultry business
US-based meat and processed food maker Tyson Foods has received preliminary bids from private equity firms including Trustar Capital, Bain Capital and BPEA EQT for its China poultry business, according to two sources familiar with the matter.
Hong Kong blockchain fund raises $100m
Hong Kong blockchain specialist CMCC Global has reached a first close on its latest financial technology and web3 fund, raising the full targeted amount of USD 100m.
India's Mensa Brands secures $40m in debt, equity funding
Mensa Brands, an India-based platform that agglomerates emerging consumer brands, has received USD 40m in funding from EvolutionX Debt Capital structured as a debt facility and a convertible investment.
China's Leadrive raises $81m Series D
Legend Capital and Oriza FoFs have led a CNY 600m (USD 81m) Series D round for Leadrive, a Shanghai-headquartered manufacturer of semiconductor power modules and motor control units used in electric vehicles (EVs).
MTR Lab, Gobi back Hong Kong construction tech start-up
MTR Lab, a technology and innovation arm of Hong Kong transport operator MTR, has teamed up with Gobi Partners to invest HKD 46.8m (USD 5.9m) in local sustainable construction start-up isBIM.
ADIA re-ups in India's Reliance Retail
Abu Dhabi Investment Authority (ADIA) has agreed to invest INR 49.7m (USD 597m) in India’s Reliance Retail within two months of USD 1.25m worth of investments from KKR and Qatar Investment Authority (QIA).
China-US consumer brand accelerator raises $58m
SuperOrdinary, a global consumer brands accelerator that operates out of Shanghai, New York, and Los Angeles, has raised USD 58m in Series B funding at a valuation of more than USD 800m.
SparkLabs launches US-listed SPAC
SparkLabs Group, which operates a network of start-up accelerators and venture capital funds with a strong presence in Asia, has raised USD 100m through a special purpose acquisition company (SPAC) offering on NASDAQ.
Mubadala supports buyout of Korea's Osstem Implant
Mubadala Investment has invested in Osstem Implant, a Korean manufacturer of dental implants that was taken private by MBK Partners and UCK Partners (formerly Unison Capital Korea) earlier this year.
India EV infrastructure player raises $20m
Indian electric vehicle (EV) charging infrastructure developer Bolt.Earth has raised USD 20m from a mix of investors including US-based Union Square Ventures.
Japan's WiL joins $27m round for health platform Micin
Japan-US cross-border investor World Innovation Lab (WiL) has joined a JPY 4bn (USD 27.3m) Series C round for Tokyo-based telemedicine and health platform Micin.
India's True North commits $75m to iLink Digital
True North has agreed to pay USD 75m for a minority stake in iLink Digital, a digital transformation service provider founded in the US by two Indian entrepreneurs.