Technology
Deal focus: Ace Turtle says so long to SaaS
Ace Turtle never wanted to be India’s answer to Amazon, but it has moved from software provider to supply chain coordinator while stepping back from international markets. Investors are not deterred
South by Southeast: Asia's next growth engine?
Grouping together markets based on growth and scale is a problematic with South Asia and Southeast Asia as it was with the BRIC economies. But to some extent, investors are buying into the story
Bosch backs China's AutoCore.ai
Bosch Ventures and Boyuan Capital - both investment units of Germany-headquartered engineering and technology giant Bosch Group - have joined a Series A extension for Chinese automotive systems software supplier AutoCore.ai.
Apax invests $450m in India's IBS Software, Blackstone exits
Apax Partners has agreed to pay USD 450m for a significant minority stake in India’s IBS Software, a travel and logistics industry supplier, enabling an exit for The Blackstone Group.
Hong Kong family office SPAC agrees $27bn merger with Vingroup EV unit
A special purpose acquisition vehicle (SPAC) launched by the family office of Lawrence Ho, son of Macau casino tycoon Stanley Ho, has agreed to merge with the electric vehicle (EV) unit of Vietnam’s Vingroup.
Japan's Dimension closes second VC fund on $75m
Dimension, a spinout of Japan’s Dream Incubator, has closed its second VC fund with JPY 10.1bn (USD 75m) in commitments.
Macquarie Capital acquires majority stake in India's CloudExtel
Macquarie Capital, the investment arm of Australia’s Macquarie Group, has acquired a 51% stake in Indian digital connectivity technology provider CloudExtel for about USD 100m.
China's Coherent Biopharma raises $100m
Chinese cancer-focused biotech developer Coherent Biopharma has raised about USD 100m in Series B funding featuring HM Capital.
New Zealand's Movac raises $125m for Fund VI
New Zealand-based Movac has closed its sixth technology fund on NZD 202m (USD 125m) despite what Mark Vivian, a general partner at the venture capital firm, described as “the most challenging fundraising conditions I've experienced since the GFC [global...
Blackstone falls short in bid to delist India's R Systems
The Blackstone Group has failed to delist Indian IT provider R Systems due to insufficient interest from public shareholders six months after agreeing on a majority acquisition.
China's Pudu Tech raises another tranche of Series C funding
Pudu Tech, a China-based manufacturer of service robots, has raised a fourth tranche of Series C funding amounting to several hundred million renminbi (CNY 100m equates to USD 14m) from local investor Yuedu Capital.
Singapore wine cleantech start-up raises $10m
Singapore’s EcoSpirits, a start-up focused on low-carbon technology for the wine industry, has raised a USD 10m Series A round led by US circular economy specialist Closed Loop Partners.
Bessemer pledges USD 1bn for global AI deals
Bessemer Venture Partners, a US-based early-stage investor currently expanding a longstanding presence in India, has earmarked USD 1bn for artificial intelligence (AI) start-ups globally.
Japan's Genesia closes Fund III on USD 110m
Japan’s Genesia Ventures, a seed-stage tech investor with a presence in Indonesia and Vietnam, has closed its third fund on USD 110m.
Fireside leads $40m Series B for India's Ripplr
Fireside Ventures has led a USD 40m Series B round for India-based distribution and logistics platform Ripplr. The round comprised USD 28m in equity funding and USD 12m in debt.
Shunwei commits $29m to China expense management platform
Maycur, a China-based software-as-a-service (SaaS) provider specialising in corporate expense management, has raised CNY 200m（USD 29m in Series C funding from Shunwei Capital.
China autonomous driving player Mogo raises $84m
Mogo Auto, a Chinese autonomous driving solutions provider, has raised CNY 580m (USD 84m) in a Series C extension featuring Tencent Holdings.
Japan's SMBC, Incubate set up USD 200m Asia VC fund
Sumitomo Mitsui Banking Corporation (SMBC) has established a USD 200m growth and late-stage pan-Asian VC fund in partnership with Japan’s Incubate Fund, which will co-manage the vehicle.
Fund focus: Chiratae eyes global growth
Chiratae Ventures has raised a growth-stage fund to participate in later-stage rounds for Indian portfolio companies that are becoming ever larger and ever more international in their outlook
Q&A: ShawKwei & Partners' Kyle Shaw
Kyle Shaw, founder and managing partner of ShawKwei & Partners, on bright spots in industrial manufacturing and becoming more Southeast Asia-centric as supply chains reduce China exposure
Fund focus: Integra focuses on the fintech layer
One of few sector specialists in market populated by Indonesia-focused generalists, Integra Partners has fashioned a differentiated investment narrative. LPs committed $90m to the cause
Japan VC: Global appetites
The relatively recent advent of sizeable VC funds and high-profile start-ups in Japan has exposed long-simmering ambitions to be more international. This could be a breakout moment
3one4 raises $200m for early-stage India fund
Indian venture capital firm 3one4 Capital has closed its fourth early-stage fund – and sixth overall – on target at USD 200m. The fundraising process took two-and-a-half months.
Matrix leads $73m Series C for China's Semi-Tech
Matrix Partners China has led a CNY 500m (USD 72m) Series C for Semi-Tech, a China-based software provider to the semiconductor industry, at a post-money valuation of CNY6bn.