Sectors
3i completes med-tech upscale job
When John Thomson, head of 3i Group’s Southeast Asia business, met Singaporean entrepreneur Jay Pok in the mid-2000s, he was on the lookout for a medical technology investment. But Pok’s company, medical cable maker LHi Technology, though impressive,...
SCPE ready to bet big on Vietnam
Private equity investors have committed an annual average of $364 million to Vietnam-based companies over the past 10 years. In the space of three weeks, Standard Chartered Private Equity (SCPE) alone has deployed over one third of this total.
Ayannah banks on the unbanked
Explaining why cross-border remittances into the Philippines are not his core business, Mikko Perez points to Hong Kong’s Central district on a Sunday, when the domestic helpers are out in force. “It’s so cut throat – we are talking basis points...
Permira in talks to sell Arysta to Platform Specialty – report
Arysta LifeScience, the Japanese agricultural chemicals maker owned by Permira that last month filed for a US IPO, is said to be in talks with Platform Specialty Products over a potential acquisition.
Club Med board endorses improved Fosun buyout offer
The board of directors of Club Méditerranée (Club Med), the France-based vacation resorts operator, unanimously recommended that shareholders should accept an improved takeover bid from Chinese conglomerate Fosun International and its partners.
IFC to invest $100m in India’s Bilt Paper
International Finance Corporation (IFC) has agreed to acquire a 14.29% stake in Bilt Paper, a subsidiary of Indian paper manufacturer Ballarpur Industries, for $100 million.
Jafco commits $4.6m in Japan footwear site Locondo
Jafco has invested JPY500 million ($4.6 million) in Japanese footwear e-commerce start-up Locondo in a Series C round of funding.
Marunouchi exits Japan supermarket chain to Lawson for $501m
Marunouchi Capital - the private equity arm of Mitsubishi Corp - has exited Japanese high-end supermarket chain Seijo Ishii to convenience store operator Lawson for JPY55 billion ($501 million) including debt.
Vista Equity acquires Indian-owned TIBCO in $4.3b take-private
Tech-focused GP Vista Equity Partners has agreed to buy TIBCO Software, the US-listed business software provider founded by Indian entrepreneur Vivek Ranadivé, in a deal worth $4.3 billion including debt.
VC-backed Chinese car rental firm eHi files for US IPO
EHi Car Services, a Shanghai-based car rental company backed by a string of VC investors, has filed for an IPO on the New York Stock Exchange (NYSE).
Shaw Kwei invests $17m in Singapore marine logistics firm
Greater China and Southeast Asia-focused private equity firm Shaw Kwei & Partners has paid $17 million for a 60% stake in Singapore marine logistics firm Amos International.
Southern Capital agrees $180m Singapore engineering carve-out
Southern Capital Group has agreed to acquire a majority stake in United Engineers’ Singapore-listed engineering and construction division for S$230.2 million ($180 million) in cash.
GGV, Tencent invest $13m in US tracking device maker
Tile, a US start-up that makes devices used to track lost items, has raised $13 million in funding from China-based investors.
NZ regulator targets Archer consortium over aborted Abano deal
A consortium of investors including Archer Capital is subject to a civil action launched by New Zealand’s Financial Markets Authority (FMA) over an unsuccessful bid for Abano Healthcare Group.
VIDEO: Yilu Zhao of Qunar
Many VC-backed start-ups are cautious about accepting strategic capital due to concerns that these large investors will exert too much influence, particularly in terms of a potential public market exit. Yilu Zhao, chief strategy officer at Chinese travel...
3i exits Asian medical device maker LHi to US trade buyer
3i Group has exited LHi Technology – a medical equipment manufacturer bought from Baring Private Equity Asia in 2008 – to US-based Carlisle Companies for an enterprise valuation of around $195 million, claiming a 2.9x money multiple.
Rocket Internet shares close down 13% on Frankfurt debut
German internet incubator and investor Rocket Internet saw its shares close down 13% on the first day of trading on the Frankfurt Stock Exchange following a EUR1.6 billion ($2 billion) IPO.
Kendall Court exits Malaysian broadband provider
Kendall Court Capital Partners has exited Packet One Networks – a Malaysian broadband provider heavily involved in 4G telecommunications technology – as Telekom Malaysia (TM) bought a controlling stake in the company.
Matrix India backs online food-ordering platform LimeTray
Matrix Partners India has provided a Series A round of funding for Alchemy Web Private, operator of online food-ordering platform LimeTray. The size of the commitment was not disclosed.
China's CIC in $311m partial exit from Noble Group
China Investment Corporation (CIC) has made a partial exit from Singapore-listed agriculture and energy supply chain manager Noble Group, generating proceeds of S$396 milion ($310.6 million).
Gree Ventures backs Philippines payments business
Gree Ventures has participated in a Series C round of funding for Philippines-based digital payments business Ayannah. Wavemaker Labs, Golden Gate Ventures, IMJ Investment Partners and Beenos Asia also participated.
J-Star seals first secondary exit
Japan has seen 61 private equity secondary exits since 2011 – more than the combined total for the 10 years before that. This surge in activity can largely be traced back to buyouts from the years leading up the global financial crisis. Investors want...
Google, Lightspeed lead $38m round for China's InnoLight
Google Capital, the growth-stage venture arm of Google, and Lightspeed China Partners have co-led a $38 million Series C round of funding for InnoLight Technology, a Chinese manufacturer of cloud computing optical transceivers.
Jungle Ventures commits $1.6m to Thailand fashion site
Jungle Ventures has led a $1.6 million pre-Series A round for Pomelo, a Thailand-based online fashion retailer.