Sectors
India's Five Star completes $195m IPO, GPs make partial exits
Five Star Business Finance, an Indian non-banking financial company (NBFC) that has received several rounds of private funding, gained 3% on debut following an INR 15.9bn (USD 195m) domestic IPO.
Australia's ABGF invests $10m in local tourism player
Australia Business Growth Fund (ABGF), a partially government-backed investor that backs small to medium-sized companies, has invested AUD 15m (USD 10m) in local tourism company HMC Group.
Korea laundry start-up gets $36m Series C
H&Q Korea has led a KRW 49bn Series C round for Korean laundry app provider Laundrygo with support from SoftBank Ventures and Altos Ventures.
Q&A: AC Ventures' Adrian Li
Adrian Li, founder and managing partner of Indonesia-focused AC Ventures, on Chinese incursions into Southeast Asia, localisation versus scale, the prospect of a protracted downturn, and being an Ironman
Deal focus: KKR agrees first Australia growth tech deal
KKR has led a USD 68m Series B round for Australia’s Advanced Navigation, an autonomous systems developer for robots and vehicles used everywhere from the freeway to orbit
Sport investment: China fading
Once a white-hot investment theme in China, and for Chinese investors looking overseas, sport has slipped into obscurity amid concerns about regulation and monetisation
Japan PE sees digitalisation as national imperative – AVCJ Forum
Digital transformation is an urgent social issue as much as an operational one, Japan-focused investors told the AVCJ Private Equity & Venture Forum.
Brookfield buys Hong Kong's Trimco from Affinity - update
Affinity Equity Partners has sold Hong Kong-headquartered garment label manufacturer Trimco Group to Brookfield Asset Management, for an enterprise value of USD 850m.
GSV leads $45m round for India's Simplilearn
GSV Ventures has led a USD 45m round for Indian education technology provider Simplilearn. The Blackstone Group acquired 70% of the company last year for USD 250m.
Bain buys Japan fashion business
Bain Capital has agreed to acquire a majority stake in Mash Group, a Japan-based fashion label, for an undisclosed sum.
Blackstone pursues $359m take-private of India's R Systems
The Blackstone Group has agreed to acquire a majority stake in India-based IT services provider R Systems International at a valuation of INR 29.04bn (USD 359m) and moved to delist the company.
Tread more cautiously in PE-infra overlap – AVCJ Forum
Investors are increasingly challenged to reconcile a vanishing divide between some infrastructure and PE strategies, the AVCJ Private Equity & Venture Forum heard.
China's CCV raises $150m opportunity fund
China Creation Ventures (CCV) has raised USD 150m for an opportunity fund that will participate in follow-on rounds and back spin-outs from established companies.
Australia cultured meat start-up gets $49m Series A
Blackbird and Prosperity7 Ventures, a unit of Saudi Arabian oil company Aramco, have led a USD 49.2m Series A round for Australian cell-cultured meat company Vow.
Indonesia's INA, Chinese partners form $2bn EV fund
Indonesia’s sovereign wealth fund, Indonesia Investment Authority (INA), has launched a USD 2bn green electric vehicle (EV) fund with Chinese battery manufacturer CATL and the international arm of China Merchants Bank (CMB).
Panacea closes second healthcare fund on $276m
Panacea Venture, a healthcare-focused investment firm established by James Huang, formerly a partner at KPCB China, has closed its second fund with approximately USD 276m in commitments.
Crypto's hyped transparency remains muddy – AVCJ Forum
Centralised finance (cefi) manifestations of decentralised finance (defi) technologies are becoming problematic for mainstream investors, the AVCJ Private Equity & Venture Forum heard.
China automotive industry supplier Kasco raises $72m
Kasco, a China-based air suspension supplier for passenger vehicles, has closed a Series B round of CNY 510m (USD 72m) led by an investment arm of CRRC Group, China State-Owned Venture Capital Fund, Source Code Capital, and Shenzhen Capital Group.
India fintech player Lentra gets $60m Series B
India’s Lentra, a financial technology provider focused on cloud-based lending, has raised USD 60m in Series B funding led by Bessemer Venture Partners and SIG Venture Capital.
Glenwood invests $514m in Hanwha's advanced materials unit
Korean carve-out specialist Glenwood Private Equity has agreed to acquire a significant minority stake in the advanced materials unit of Hanwha Solutions, a listed subsidiary of Hanwha Group, for an enterprise valuation of KRW 680bn (USD 514.2m).
KKR leads $48m Series C for Indonesia's Privy
KKR has led a USD 48m Series C round for Privy, an Indonesia-based company that specialises in technology for providing legally binding digital signatures.
Wavemaker hits first close on SE Asia climate fund
Singapore’s Wavemaker Partners has hit a first close of USD 13m on its debut impact fund, which focuses on climate themes in Southeast Asia. The target is USD 25m.
Fortress to buy Sogo & Seibu from Japan's Seven & i
Seven & i Holdings, a Japanese retail conglomerate best known as the parent company of 7-Eleven, has agreed to sell department store operator Sogo & Seibu to Fortress Investment Group.
Singapore's Speeddoc gets $28m pre-Series B round
Bertelsmann Investments, Shinhan Venture investment, Mars Growth and Vertex Ventures Southeast Asia & India have participated in a USD 28m pre-Series B round for Singapore virtual healthcare platform Speedoc.