Sectors

J-Star completes $6.6m exit of sweets maker Tokachi

J-Star has completed its exit of a 100% stake Japanese sweet maker Tokachi to Tokyo-listed Mediaflag in deal valued at JPY644 million ($6.6 million). According to sources familiar with the matter, the GP has generated a 1.3x return on its investment.

China’s Sungy Mobile targets $80m US IPO

Sungy Mobile, a Chinese app developer backed by IDG Capital Partners, JAFCO, WI Harper and China Broadband Capital (CBC), is targeting a $80 million IPO and a listing on the New York Stock Exchange. The company, which focuses on apps, widgets and functions...

SAIF-backed HomeShop18 raises $14m round

Multimedia retailer HomeShop18 has raised another $14 million in funding from existing investors - Korea’s GS Home Shopping (GS), hedge fund OCP Asia and parent company Network18. SAIF Partners invested $26 million in 2008 for over 25% of the company.

Intel Capital unveils seven new Asia investments

Intel Capital, a corporate VC arm of chipmaker Intel Corporation, has invested in seven Asia-based companies as part of a batch of 16 global commitments totaling $65 million. The Asian firms, coming from China, India, Singapore, Japan and Taiwan, account...

CITIC oils Stackpole’s China wheels

The oil pumps use to lubricate engine parts and reduce friction come in two forms: fixed and variable. The first are usually oversized to handle the harshest operating conditions and therefore deliver higher average oil pressure and consume more power...

Quadrant eyes aged care consolidation

Quadrant Private Equity completed its exit from New Zealand retirement village operator Summerset last week but demographics remain a prominent theme in the firm’s portfolio with the acquisition of Estia Health, an Australian aged-care provider.

IDG, CreditEase target online finance

CreditEase, the largest peer-to-peer (P2P) lender in China, has introduced a new twist to its relationship with IDG Capital Partners. Two-and-a-half years after becoming an IDG portfolio company, CreditEase has become a principal investor in an IDG-managed...

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India e-commerce: Sink or swim

India’s e-commerce sector is in the midst of consolidation. VC money continues to flow to the larger players but even they are examining their business models in a climate of higher operating costs

PE firms bid for South Korea’s Woori assets

Several private equity firms have submitted bids for parts of Woori Finance Holdings in the second of three separate auctions intended to finally dispose of the Korean government’s interest in the business.

Baidu, VC-backed Qunar sets terms for $127m US IPO

Qunar, a Chinese-travel website majority-owned by internet search giant Baidu, is seeking to raise up to $127.8 million through its NASDAQ IPO. The company is also backed by GSR Ventures and GGV Capital, neither of which will sell any shares in the offering.

Chinese online marketplace 58.com sets terms for $165m US IPO

Chinese online marketplace 58.com is seeking raise up to $165 million through its New York Stock Exchange IPO. The company’s venture capital investors – Warburg Pincus, SAIF Partners and DCM – will not sell any of their shares in the offering.

MSPEA set for partial exit as Hyundai Rotem IPO raises $585m

Hyundai Rotem, a train manufacturer backed by Morgan Stanley Private Equity Asia (MSPEA), will complete the fourth-largest IPO ever executed on the Korea Exchange and the biggest in more than three years. The offering will generate proceeds of KRW622.4...

Quadrant exits Summerset, buys Estia Health

Quadrant Private Equity has fully exited New Zealand retirement village operator Summerset via the public market, generating an estimated return multiple of more than 3.7x. In the same week, it acquired a majority stake in Australian aged-care operator...