Sectors
Axa-owned Novacap chemicals group makes China acquisition
AXA Private Equity-backed French chemicals group Novacap, is to acquire a majority stake in Taixing Yangzi Pharm Chemical (Yangzi), one of the leading Chinese producers of a chemical mainly used for the production of paracetamol. Financial terms of the...
MSPEA-backed Hyundai Rotem to raise up to $575m in IPO
Hyundai Rotem, a South Korean train maker backed by Morgan Stanley Private Equity Asia (MSPEA), intends to raise as much as KRW622.4 billion ($575 million) in what is set to be the country's biggest IPO so far this year.
VC-backed Forgame targets $222m Hong Kong IPO
Forgame Holdings, a Guangzhou-based mobile game developer backed by several VC firms, plans to raise at least $222 million through an IPO in Hong Kong.
GGV invests in China LED producer's pre-IPO round
GGV Capital has made a pre-IPO investment in Sichuan Sunfor Light, a Chinese light emitting diode (LED) manufacturer. Terms of transaction were not disclosed.
India's Micro Housing Finance Corp raises $5.5m in new equity funding
Unilazer Ventures and existing backers Caspian Advisor’s India Financial Inclusion Fund and the Michael and Susan Dell Foundation have invested INR350 million ($5.5 million) in Micro Housing Finance Corporation (MHFC), which makes housing loans to lower...
New Zealand's Pencarrow acquires Bell Tea & Coffee
Pencarrow Private Equity has bought Bell Tea & Coffee Company (BTCC), New Zealand’s oldest tea enterprise, from supermarket chain Foodstuffs. Accident Compensation Corporation (ACC) is coming in as a significant co-investor, while BTCC’s senior management...
Temasek unit plans $185m Youku Tudou sell down – report
Sennett Investments, an affiliate of Temasek Holdings, has reportedly sold down its entire stake in Youku Tudou, an US-listed Chinese video site, generating up to S$235 million ($185 million).
KKR considers teaming with Japan state fund for Panasonic unit - report
KKR may partner with a Japanese state-backed investment fund in a bid to secure a stake in Panasonic's healthcare unit.
Malaysia's Khazanah exits Time Engineering stake for $21m
Malaysian sovereign wealth fund Khazanah Nasional has sold its entire stake in local IT firm Time Engineering (TEB) to Censof Holdings for RM69.8 million ($21.3 million)
WuXi PharmaTech-backed Foundation Medicine sets terms for $75m IPO
US cancer diagnostics firm Foundation Medicine, which counts the corporate venture fund of Shanghai-headquarted WuXi PharmaTech among its backers, has announced the terms for its US IPO.
Blackstone consortium reduces Pactera MBO offer
A consortium led by The Blackstone Group has made a definitive offer for Pactera Technology International that values the US-listed tech outsourcing firm at approximately $600 million. Existing investor GGV Capital is also participating in the bid alongside...
ADB to become GP
The Asian Development Bank (ADB) is to turn GP to enhance its investment capability, with a fund targeting climate change and renewable energy to launch next year.
Advent, CDIB, Mirae back The Coffee Bean & Tea Leaf
Advent International has joined Taiwan's CDIB Capital and Japan's Mirae Asset Private Equity to acquire a significant stake in International Coffee and Tea, the company behind US specialty coffee and tea retailer - The Coffee Bean & Tea Leaf. The largest...
RRJ invests $100m in China property developer
RRJ Capital has committed $100 to Chinese property developer CIFI Holdings by subscribing to a senior notes issue. The Hong Kong-listed firm has raised $225 million in total, the remainder being placed with Citigroup, Standard Chartered, Deutsche Bank,...
Intel Capital, AsiaVest to make partial exits from China's Montage via US IPO
Intel Capital and AsiaVest Partners will make partial exits from Montage Technology Group when the China-based semiconductor manufacturer completes its NASDAQ IPO.
Sequoia leads Series B round in China menstruation-tracking app
Sequoia Capital China has led a Series B round of founding for Dayima.com, a menstruation cycle-tracking mobile app. Existing backer Bertelsmann Asia Investments also participated in the round.
Affordable healthcare chain Glocal gets $4m from SIDBI VC
SIDBI Venture Capital has invested INR250 million ($3.93 million) in Glocal Healthcare Systems, which operates multi-specialty hospitals in semi-rural parts of East India.
TPG invests $23m in Sutures India
TPG Growth has acquired a minority stake in Bangalore-based surgical equipment maker Sutures India for INR1.45 billion ($22.9 million).
Fosun buys 35% stake in Italian luxury menswear brand
Fosun International, China’s largest privately-owned conglomerate, has agreed to buy a 35% stake in Italian menswear brand Caruso. Much like Fosun’s investments in other foreign brands, the plan is to support Caruso’s expansion in China.
PE-backed Endurance International to buy India's Directi
Endurance International Group, a US-based web hosting services provider controlled by Warburg Pincus and Goldman Sachs, has agreed to buy Indian online services firm Directi Web Technology for up to $110 million.
Shanghai Sinopharm PE invests in chemical firm Anhui Fulltime
Sinopharm Capital, a private equity arm of Chinese drug distributing conglomerate Sinopharm, has made a pre-IPO investment in chemical products manufacturer Anhui Fulltime Specialized Solvent & Reagent.
Innovation Works' Kai-Fu Lee diagnosed with cancer
Kai-Fu Lee, founder and CEO of Innovation Works and former head of Google Greater China, has been diagnosed with lymphoma, a type of blood cancer.
ADB to invest $245m in Pakistan's power sector
The Asian Development Bank (ADB) will invest $245 million to improve Pakistan’s power distribution systems. The capital, structured as a loan, is the third tranche of the bank's Power Distribution Enhancement Investment Program.
ADIA buys Australia hotel portfolio
Abu Dhabi Investment Authority (ADIA) has bought Tourism Asset Holdings (TAHL), Australia’s largest hotel owner. The deal will see the Middle East sovereign wealth fund assume control of 31 Accor-operated properties in major cities.