Sectors
65 Equity invests $107m in Singapore's Cityneon
Temasek Holdings-backed 65 Equity Partners has invested SGD 150m (USD 107m) in Singapore’s Cityneon, a company that markets entertainment brands by staging elaborate events, displays, and exhibitions.
China IT maintenance player raises $27m
Chinese IT system operations and maintenance solutions provider Bizseer Technology has raised a Series C round of about CNY 200m (USD 27m) led by Firstred Capital.
Australia's Elmo Software agrees take-private with US GP
K1 Investment, a US-based private equity that focuses exclusively on enterprise software companies, has agreed to acquire Australia-listed Elmo Software at a valuation of AUD 483m (USD 313m).
Bain-led consortium closes tender for Japan's Hitachi Metals
A Bain Capital-led consortium has completed its tender offer for Hitachi Metals – at a valuation of JPY 816.8bn (USD 5.6bn) – 18 months after first submitting a bid for the Japan-based industrial components manufacturer.
US GP buys India's Acqueon from Everstone
US-based Long Ridge Equity Partners has acquired a majority stake in Indian customer engagement software provider Acqueon from Everstone Capital for an undisclosed sum.
CDPQ invests $474m in Japan energy programme
Caisse de depot et placement du Quebec (CDPQ) has committed JPY 70bn (USD 474m) to a Japanese energy transition programme led by local renewables developer Shizen Energy.
Profile: Charles Li
Charles Li became known as a financial markets reformist during his stint in charge of Hong Kong’s stock exchange. He continues in the same vein at the helm of fintech start-up Micro Connect
Deal focus: Elevation makes Korea healthcare debut
Adverse fundraising conditions didn’t deter deal-by-deal player Elevation Private Equity from investing in Korea healthcare turnaround, and by extension, aligning with a key domestic partner
Deal focus: Gamurs gears up for M&A boom
Gamurs claims to have carved a niche as the largest gaming news publisher in the English-speaking world on the back of 39 acquisitions in seven years. Its Series A will go towards more purchases
China EV brand Aion raises $2.5b
GAC Aion, an electric vehicle (EV) brand under GAC Group, a Chinese state-owned automotive manufacturer, has raised CNY 18.3bn (USD 2.5bn) in Series A funding at a valuation of CNY 103.2bn from 53 so-called strategic investors.
Sofina leads $46m round for India agtech player DeHaat
Sofina, a Belgium-headquartered holding company and an active investor in Asia-based start-ups, has led a INR 3.66bn (USD 45.8m) Series E round for Indian agricultural technology platform DeHaat at a valuation of USD 695m.
Philippines fintech start-up gets $16m Series A
Abu Dhabi’s ADQ has backed a USD 16m Series A round for a Philippines-based financial technology start-up founded by former executives of Russian digital banking leader Tinkoff Bank.
PE investors commit $500m to India agribusiness giant UPL
India-headquartered UPL, which claims to be the world’s fifth-largest agrochemicals company, has announced a restructuring that will see KKR, TPG, Brookfield Asset Management, and Abu Dhabi Investment Authority (ADIA) invest INR 40.4bn (USD 500m) across...
VC-backed Singapore biotech start-up agrees SPAC merger
Singapore’s AUM Biosciences, a VC-backed oncology treatments developer, has agreed to a NASDAQ listing via special purpose acquisition company (SPAC) at a pre-money equity valuation of USD 400m.
Pavilion backs Singapore influencer platform
Temasek Holdings-owned Pavilion Capital has joined a USD 7m round for Singapore’s Partipost, which claims to be Asia’s fastest-growing crowd influencer marketing and commerce platform.
Indonesia solar start-up raises $33m Series A
Indonesia’s Xurya, a solar power rental and installation start-up, has lifted its Series A round to USD 33m with new commitments from Mitsui & Co and local property conglomerate Surya Semesta Internusa.
Warburg Pincus commits $350m to SE Asia insurance platform
Warburg Pincus has seeded a digital insurance platform for Southeast Asia with a USD 350m equity commitment and two recent acquisitions from Spain-headquartered insurance giant Mapfre.
Globis leads $22m Series C for Japan's Trend Express
Globis Capital Partners has led JPY 3.3bn (USD 22.1m) Series C round for Japan’s Trend Express, a cross-border marketing and data analysis platform focused on Japan-China tourism.
India's Ather Energy adds $50m to Series E
India’s Ather Energy, a two-wheel electric vehicle (EV) brand, has raised about USD 50m from existing investors, extending its Series E round to around USD 178m.
China energy storage player Hithium gets $276m Series B
Xiamen Hithium Energy Storage Technology, a China-based battery manufacturer, has secured CNY 2bn (USD 276m) in Series B funding led by ABC International.
Horizons leads Series A for Australia's Nourish Ingredients
Nourish Ingredients, an Australia-based alternative protein start-up that uses synthetic biology to produce animal-free fats, has raised USD 28.6m in Series A funding.
Advantage recruits partner, co-head for Asia ex-Japan
Japan’s Advantage Partners has hired Rahul Bhargava, previously of ADV Partners, as a partner and co-head of Asia ex-Japan. It coincides with the acquisition of a Japanese jewellery industry supplier.
Korea pizza chain raises $25m for India push
Korea-headquartered pizza chain Gopizza has raised USD 25m in Series C funding from new and existing backers to drive an India expansion.
Fund focus: Local LPs lift Fireside to new heights
India’s Fireside Ventures has soaked up rising domestic investor appetite for start-ups with an outsized third vintage, claiming that its consumer brands thesis is beginning to bear fruit