Sectors
China drug developer BoomRay gets $43m
Chinese drug developer BoomRay Pharmaceuticals has raised a CNY300m (USD 43m) Series A round led by Sequoia Capital China.
China cell therapy developer Neukio raises $50m
Shanghai-based cell therapy developer Neukio Biotherapeutics has raised USD 50m in the first tranche of a Series A round led by medical technology-focused CD Capital. Other new investors include Alwin Capital and Surplus Capital.
Anchorage exits Australia rail operator
Australia’s Anchorage Capital Partners has sold local rail operator Rail First Asset Management for AUD 425m (USD 290m) to Dutch GP DIF Capital Partners and Amber Infrastructure of the UK.
China EV player Leapmotor targets Hong Kong IPO
LeapMotor has filed for an IPO in Hong Kong, putting it on course to become the fourth of China's "new force" electric vehicle (EV) manufacturers to go public.
Korea's MegaStudy pulls plug on 35% stake sale to MBK
MegaStudy Education, a listed Korean education provider with a market capitalisation of nearly KRW 900bn (USD 660m) has decided against selling a stake to North Asia-focused private equity firm MBK Partners.
Australia branding platform Outfit acquired by US strategic
Australia’s Outfit, a VC-backed brand management business, has been acquired by Smartsheet, a New York-listed enterprise workflow management platform for an undisclosed sum.
Integral pursues $144m tender for Japan office services business
Integral Corporation has launched a tender offer for Daiohs Corporation, a Tokyo-listed provider of office services – such as coffee machines and water dispensers as well as cleaning services – at a valuation of approximately JPY 20.2bn (USD 144m).
Japan remote workforce player oVice raises $32m
Japan’s oVice, a start-up that provides virtual co-working spaces for remote and hybrid teams, has raised JPY 4.5bn (USD 32.1m) in Series B funding featuring Jafco and Eight Roads Ventures.
Novo Holdings leads $50m round for India's MedGenome
Novo Holdings, which manages the wealth of Denmark’s Novo Nordisk Foundation, has led a USD 50m investment in MedGenome, an India-based genetic testing business.
Orchestra Private Equity buys Japan scaffolding business
Orchestra Private Equity, which specialises in cross-border transactions involving Korea, Japan, and China, has acquired Japan-based scaffolding provider Stack for an undisclosed sum.
Navis exits Singapore's Adampak after 10-year hold
Navis Capital Partners has sold 100% of Singapore-based Adampak, a diversified manufacturer specialising in labels and barcode stickers, to Oji Imaging Media, a leading Japanese paper company.
Allegro makes partial exit from Australian retailer Best & Less
Allegro Funds has completed another partial exit from Australian baby and kids retailer Best & Less, generating proceeds of AUD 29.7m (USD 20.2m) through a block trade.
China chip designer Yige raises $42m angel round
Suzhou Yige Technology, a China-based semiconductor chip designer also known as EagleChip, has raised a CNY 286m (USD 41.5m) angel round led by Matrix Partners China, Redpoint China, Sequoia Capital China, CTC Capital, and Vlight Capital.
Vertex leads Series A for Singapore's Propseller
Vertex Ventures Southeast Asia & India has led a USD 12m Series A for Propseller, a Singapore-headquartered property technology start-up Propseller that is looking to disrupt the traditional agency model.
Potentia, HarbourVest move for Australia's Nitro Software
Australia-listed productivity software provider Nitro Software has rejected a AUD 386m (USD 263m) buyout offer from Potentia Capital and HarbourVest Partners.
Japan’s D Capital nears target for debut PE fund
Japan’s D Capital, a private equity firm specialising in digital transformation that spun out from Unison Capital last year, has raised JPY 26bn (USD 188m) for its debut fund against a target of JPY 30bn.
GP profile: CMC Capital Partners
China-focused CMC Capital Partners’ remit has expanded from media to consumer and technology, but the firm believes its knowledge and discipline as a specialist investor have never been more relevant
Singapore, Thailand blockchain remittance player gets $50m
Singapore and Thailand-based Lightnet, a blockchain-enabled payments and remittance services provider, has raised USD 50m from US-based LDA Capital.
Accenture backs India space tech start-up Pixxel
Accenture has made an investment of undisclosed size in Indian satellite imaging provider Pixxel via a VC unit. It follows a USD 25m Series A round in March.
Rise Fund, Norwest lead $110m Series D for India's EarlySalary
TPG’s Rise Fund and Norwest Venture Partners have led a USD 110m Series D round for EarlySalary, which claims to be India’s largest consumer lending financial technology start-up.
PAG buys Japanese theme park for $722m
PAG has agreed to buy Huis Ten Bosch, a Japanese theme park best known for its recreations of idyllic European cityscapes, for an equity valuation of approximately JPY 100bn (USD 722m).
Japan carve-outs: Improving the old
Private equity investors are keen to acquire mature but unloved assets from Japanese corporates and reposition them for growth. Execution is seldom straightforward, and size often means complexity
Fund focus: Fundamentum finds its niche
As one of few Series B and C specialists operating in India, The Fundamentum Partnership expects to have plenty to choose from over the next two years as the glut of early-stage start-ups thins out
Fund focus: Cherubic continues to scale
Early-stage investor Cherubic Ventures initially struggled to get traction with its idiosyncratic Greater China-US strategy, but the firm sees its USD 110m haul for Fund V as validation of the thesis