Sectors
PE-backed Zhaogang to list via Hong Kong SPAC merger
Zhaogang, a private equity-backed Chinese B2B steel-trading platform, is on course to become the first company to list in Hong Kong through a merger with a special purpose acquisition company (SPAC).
ShawKwei completes duo of US acquisitions
Asia-focused industrials specialist ShawKwei & Partners has completed two investments in the US spanning packaging manufacturing and environmental chemicals.
India-US cross-border GP Pentathlon Ventures targets $55m
Pentathlon Ventures, a US-India cross-border early-stage investor focused on B2B software-as-a-service (SaaS) has launched its second fund with a target of USD 55m.
Japanese warehouse robot start-up raises $84m
SBI Investment has led a JPY 12.3bn (USD 84m) Series C round for Japanese industrial robotics supplier Mujin, advancing expansion plans in Europe and the US.
Apollo continues to trim stake in Australia's Ventia
Apollo Global Management has made its third partial exit this year from Australia-based Ventia Services Group – a maintenance services business carved out from Leighton Holdings in 2014 – with approximately AUD 240m (USD 153m) in proceeds.
KKR agrees China pharmacy acquisition
KKR has agreed to acquire a majority stake in Chinese pharmacy chain Ruirentang Pharmaceutical Group, according to a filing by a local regulator.
Carlyle, Trustar pursue partial exit, rollover of McDonald's China
The Carlyle Group and Trustar Capital, private equity owners of McDonald’s China, are poised to abandon plans for a single asset continuation fund in favour of exiting part of their holdings and rolling over the rest into other funds.
Global Brain, Globis lead $93m round for Japan's Josys
Global Brain and Globis Capital Partners have led a USD 93m Series B round for Josys, a Japan-based IT services provider specializing in helping companies manage devices.
China's GTA Semiconductor raises $1.85b
GTA Semiconductor, a China-based semiconductor foundry specialising in chips for the automotive industry, has raised CNY 13.5bn (USD 1.85bn) in funding from unnamed investors.
GP profile: Quona Capital
Financial innovation-focused Quona Capital operates across global developing markets with a compact team and a strict returns-focused impact agenda. Asia dominates the growth narrative
500 Global raises $143m for Southeast Asia
500 Global has raised USD 100m for its third Southeast Asia-focused early-stage fund and USD 43m for a vehicle that will target growth-stage start-ups in the region.
India's Anicut hits $36m second close on VC fund
Indian early-stage investor Anicut Capital has achieved a second close of about INR 3bn on its latest fund. The target is INR 5bn with a greenshoe of INR 250m.
CVC expands into infrastructure with DIF acquisition
CVC Capital Partners has expanded into the infrastructure space with the acquisition of DIF Capital Partners, a Netherlands-headquartered manager with an investment footprint that includes Australia.
Deal focus: Patience pays off for Trustar on Moritex
Trustar Capital’s 20x return on Japanese precision manufacturing business Moritex was driven by greater geographic diversification in production and distribution and a shakeup of the product portfolio
Indonesia VC: Institutional upgrade?
Having won early support from as assortment of local conglomerates, Indonesian venture capital firms must now demonstrate their independence when pitching international LPs
Fund focus: 3one4’s governance gambit
India’s 3one4 Capital credits a strong governance policy for rising institutional participation in its latest VC fund. Maintaining a global-local balance in the LP base is becoming crucial
Mitsui Sumitomo VC unit backs Israel fusion start-up
Japan’s Mitsui Sumitomo Insurance Venture Capital (MSIVC) has joined a Series A round for Israel-based nuclear fusion start-up NT-Tao that had raised USD 22m as of February.
Endeavour exits Japan automotive components maker
Japanese GP Endeavour United has exited local automotive components maker Crefact to local strategic Hiruta Kogyo for an undisclosed sum.
Carlyle pursues $221m Japan chemicals take-private
The Carlyle Group has launched a tender offer for Seiko PMC that values the Tokyo-listed paper and ink chemicals manufacturer at approximately JPY 32.4bn (USD 221m).
China's TH Capital hits first close on debut US dollar fund
TH Capital, a private equity firm that originated from China's Tsinghua University and was formerly known as Tsinghua Holdings Capital, has completed a USD 60m first close on its debut US dollar-denominated fund.
Japanese autonomous trucking start-up raises $24m
T2, a Japanese autonomous driving start-up that focuses on trucking, has raised JPY 3.5bn (USD 24.1m) in Series A funding from a combination of financial and strategic investors.
GPs make partial exits from India's Five Star Business Finance
TPG Capital, Matrix Partners India, and Norwest Venture Partners have sold a combined 29.6m shares in India-listed Five Star Business Finance representing about 10% of its total equity.
China robot surgery specialist raises $27m
Shanghai-based surgical robot business Ronovo Surgical has raised CNY200m（USD 27m）in an extended pre-Series B round led by NRL Capital.
PEP to buy Australia's Healthia for $168m
Pacific Equity Partners (PEP) has agreed to acquire Healthia, an Australia-based healthcare services provider specialising in physiotherapy, podiatry, and optometry, for an equity value of AUD 260m (USD 168m).