Sectors
Deal focus: CDH plays Asia wellness card
CDH Investments turned The Better Health Company from a New Zealand-only player into a brand with regional recognition. COVID-19 proved a minor obstacle to an ultimately successful trade sale
Australia tech: Valuation conundrum
Valuation adjustments and down rounds are expected to proliferate in Australia’s technology sector in the next 12 months. Investors are busy scrutinising business models for signs of vulnerability
Deal focus: Novel angle on mobile adoption gains traction
Cashify is leveraging and propelling India’s mobile penetration narrative at the most fundamental level. Adding tech to the secondhand smart phone space has allowed it to create a first-of-its-kind brand
Legend leads $150m Series E for China CRO ClinChoice
US and China-based clinical contract research organization (CRO) company ClinChoice has raised a USD 150m Series E round led by Legend Capital.
Singapore blockchain player Rubix raises $100m
Singapore-based crypto transaction infrastructure provider Rubix has raised USD 100m from US-based LDA Capital to transition into a more web3-oriented and “green blockchain” model.
PAG launches Asia renewables platform
PAG plans to commit more than USD 1bn to renewables over the next several years with the launch of a platform dedicated to the development, construction, and operation of projects in Asia.
Sequoia raises $8.8b for China funds
Sequoia Capital has hit the hard cap on each of the four funds in its latest China vintage, accumulating USD 8.8bn for deployment in seed through late-growth rounds.
China IC software player raises $81m
Semi-Tech, a China-based semiconductor manufacturing software provider, has raised CNY 540m (USD 81m) across two rounds - the second extended tranche of a Series A and a Series B.
Sequoia, Dayone back China solid state battery developer
China-based Enpower Greentech, which claims to be a pioneer in next-generation all-solid-state batteries (ASSBs), has raised more than USD 20m in an extended Series A round led by Sequoia Capital China and Dayone Capital.
India start-up financier GetVantage raises $36m
GetVantage, a provider of revenue-based financing to Indian start-ups, has secured USD 36m in funding led by Varanium Nexgen Fintech Fund, DMI Sparkle Fund, Chiratae Ventures, and Dream Incubator Japan.
Arpwood leads acquisition of India's Sterling Hospitals
Indian private equity firm Arpwood Capital has led the acquisition of Sterling Addlife India, operator of the Sterling Hospitals chain, for an undisclosed sum.
Baring Asia exits Cath Kidston to UK turnaround investor
Baring Private Equity Asia (BPEA) has exited Cath Kidston, a UK lifestyle retailer that underwent a restructuring during the initial phase of COVID-19, to turnaround investor Hilco Capital.
Joy sets modest target for China VC fund - update
Beijing-based Joy Capital has set a lower target for its latest US dollar-denominated fund than in the previous vintage and decided against raising a second accompanying growth vehicle.
Tough funding terms can hinder start-up growth - forum
Imposing punitive terms on founders in response to governance concerns can prove counterproductive to long-term growth as start-ups move through funding rounds and stipulations intensify, a Singapore Venture Capital & Private Equity Association (SVCA)...
India affordable housing player raises $112m
Indian lower-income mortgage lender Shubham has raised USD 112m led by British International Investment (BII). It facilitates exits for Elevar Equity and Motilal Oswal Private Equity (MOPE).
CDH exits New Zealand supplements brand to Nestle
CDH Investments has agreed to sell New Zealand-based supplements manufacturer The Better Health Company (TBHC) to Nestlé Health Science for an undisclosed sum.
Panthera hits first close on India, Southeast Asia fund
India and Southeast Asia-focused Panthera Growth Partners has reached a first close on its second fund with commitments amounting to more than half the overall target of USD 250m.
China biotech: End of the boom
PE investment in China biotech has collapsed amid failed IPO processes and disputed valuations. Pockets of activity remain, though questions around commercialisation have yet to be answered
Tiger Global, Google join $40m round for India's Progcap
Tiger Global Management, Google, and Creation Investments have led a USD 40m investment in India’s Progcap, a financing services provider for small businesses.
India's Pine Labs buys VC-backed Setu
Indian financial technology company Pine Labs, which has raised more than USD 1.5bn in private funding, has acquired VC-backed counterpart Setu.
Portfolio: Welkin Capital and Shawya
Shawya is a fast-rising Chinese direct-to-consumer brand that takes a technology-driven approach to skincare. Welkin Capital is helping it address growing pains around talent and omnichannel capabilities
Carlyle makes growth investment in India's Varmora Granito
The Carlyle Group has acquired a significant minority stake in Varmora Granito, an India-based manufacturer of tiles, bathware, and sanitaryware products, for an undisclosed sum.
Deal focus: Confidence unwavering in SE Asia e-commerce
Singapore online shopping platform ShopBack hopes to extend a fledgling theme of Southeast Asian IPOs in the US amid threats to discretionary spending in its core markets
SeaTown invests $50m in Vietnam e-commerce enabler
SeaTown Holdings International, an alternatives manager owned by Temasek Holdings, has provided a USD 50m Series B round for Vietnamese e-commerce enabler OnPoint.