Sectors
LeapFrog eyes February close, claims significant progress on fundraise
Impact investor LeapFrog Investments expects to close its fourth flagship fund in February, with a source close to the situation adding that "a significant share" of the targeted USD 1bn has already been raised.
Indonesia fintech platform Investree gets $231m Series D
Investree Group, operator of a series of lending platforms that target micro, small and medium-sized enterprises (MSMEs) in Southeast Asia, has raised EUR 220m (USD 231m) in Series D funding.
VC-backed streetwear retailers Kream, Soda to merge
Korean streetwear retailer Kream has paid KRW 97.6bn (USD 72.1m) for a 43.6% stake in Japanese counterpart Soda as part of a merger of the two VC-backed businesses.
Deal focus: Bolttech benefits from running start
Bolttech has pieced together one of the world’s largest digital insurance broking platforms through targeted acquisitions. Now, increased emphasis is attached to expansion from broking into underwriting
Taiwan streaming platform set for Singapore SPAC merger
17Live, a VC-backed Taiwan-based streaming platform that previously tried and failed to list in the US, is set to become the first company to list in Singapore through a merger with a special purpose acquisition company (SPAC).
Mars Growth Capital launches Asia tech fund
Singapore’s Mars Growth Capital, a tech investor set up in 2021 by Mitsubishi UFJ Financial Group (MUFG) and Liquidity Group, has launched its maiden Asia equity fund with an initial USD 500m.
Warburg Pincus backs Asia-US BPO player Everise
Warburg Pincus has agreed to invest an unspecified sum in Asia-US business process outsourcing (BPO) company Everise at a valuation of USD 1bn, facilitating an exit for Everstone Group.
Deal focus: GPs change channel on content streaming
The Fundamentum Group sees mass-market promise in Indian digital audio platform Kuku FM. It’s targeting a 50% market share by focusing on uniquely local content in vernacular languages
China VC: Amicable divorces
Regulatory pressures are encouraging Chinese VC firms to end longstanding US affiliations, but the impact of impending legislation – even sight unseen – cuts deeper into investor sentiment on China
Brookfield launches $845m India renewables platform
Brookfield Asset Management has launched its second India renewable energy platform in three months, committing USD 845m alongside Axis Energy to the latest venture.
Japan's J-Star exits HR business to Longreach
The Longreach Group has acquired a 100% stake in J-CEP, the holding company of HR services company Aki-Japan, for an undisclosed sum, providing an exit for J-Star.
Bain commits $200m to Vietnam's Masan
Bain Capital has agreed to invest at least USD 200m in Vietnamese conglomerate Masan Group. It is the private equity firm's first investment in Vietnam.
True North agrees $326m India health insurance exit
True North has agreed to sell about 20% of its stake in Indian insurance company Niva Bupa to its UK-based joint venture partner, Bupa, for approximately INR 27bn (USD 326m).
Singapore green hydrogen player gets $115m
Singapore-based InterContinental Energy, a company developing green hydrogen fuel projects in Australia and the Middle East, has raised USD 115m from GIC and specialist investor Hy24.
L Catterton backs beauty industry biotech supplier
L Catterton has led a CNY 200m (USD 27m) Series B round for Trautec, a China-based biotech start-up that develops synthetic proteins used in beauty and healthcare products.
China's Enflame secures $273m Series D
Shanghai International Group (SIG) – acting through an assortment of investment units – has led a CNY 2bn (USD 273m) Series D round for Chinese artificial intelligence (AI) chip designer Enflame Technology.
Bain pursues $147m acquisition of Japan's System Information
Bain Capital has agreed to acquire Tokyo-listed Systems Information (SI&C) via a tender offer that values the software and IT provider at about JPY 22bn (USD 147m).
Australia SaaS platform Neara upsizes Series B
Australia’s Neara, a software-as-a-service (SaaS) platform that helps power companies simulate natural disaster scenarios, has closed a USD 24m Series B round featuring Prosus Ventures.
China healthcare AI start-up Huimei gets $41m Series D
Eastern Bell Capital has led a Series D round of more than CNY 300m (USD 41m) for Huimei Cloud Technology, a China-based provider of artificial intelligence-enabled (AI) software that helps doctors make clinical decisions.
Vertex leads $20m round for India D2C beauty player
Vertex Ventures Southeast Asia and India (VVSEAI), an affiliate of Temasek Holdings-owned Vertex Holdings, has led a USD 20m Series B round for Indian D2C beauty and personal care brand Pilgrim.
PAG to buy cinema business from Chinese property developer
PAG has agreed to acquire Shanghai Xingyi Cinema Management from Hong Kong-listed property developer Seazen for about CNY 1.4bn (USD 187m).
Alibaba confirms Hong Kong IPO plan for logistics unit
Alibaba Group’s logistics unit has filed for an IPO in Hong Kong, potentially creating liquidity events for private equity backers such as Yunfeng Capital, Primavera Capital Group, and Princeville Global, as well as for GIC, Temasek Holdings, and Khazanah...
Deal focus: Riding the wave in India single-speciality hospitals
TPG Capital’s Asia Healthcare Holdings has tapped a rich vein for private equity in acquiring India’s only nephrology and urology hospital. Technological leadership will support expansion
Deal focus: KKR makes an impact with GreenCollar
KKR helped GreenCollar take advantage of carbon credit markets that have become increasingly global and economically viable – and it took dozens of employees along for the ride