Technology
CLSA launches early-stage fintech unit
Hong Kong’s CLSA has launched an investment unit called AlphaLabs that will back early-stage financial technology companies in Asia.
Chinese autonomous driving player RoboSense raises $45m
RoboSense, a VC-backed company based in China that develops sensing technology for autonomous cars, has raised about $45 million from strategic investors including Alibaba Group and domestic carmaker SAIC Motor Group.
Philippines investors defy systemic risks – AVCJ Forum
Industry participants at the AVCJ Philippines Forum praised the country’s macro fundamentals but attributed slow maturation of the local investment environment to a range of complex underlying factors.
Yunfeng leads $300m round for China's Xiaozhu
Xiaozhu, a Chinese online booking platform for short-term room rentals, has received a $300 million funding round led by Yunfeng Capital and Advantech Capital.
Sequoia leads Series B for China's Deep Intelligent Pharma
Deep Intelligent Pharma (DIP) has raised $15 million in a Series B funding from Sequoia Capital China, with the proceeds to be used for accelerating the development of the company’s artificial intelligence (AI) powered drug discovery platform.
VCs commit $15m to Chinese art tuition start-up
Chinese online art tutoring services provider Meishubao has raised $15 million in the third tranche of a Series B round led by BHG Long Hills Capital.
Gobi, Core Capital launch $10m Philippines VC fund
Gobi Partners, a VC firm focused on early-stage Chinese and Southeast Asia companies, has made its first foray to the Philippines through the launch of a $10 million fund. It is partnering with Core Capital, a recently-established VC player based in Manila....
Microsoft to invest in PE-backed ride-hailing platform Grab
Microsoft has made a strategic investment in Grab as part of a wider arrangement that will see it collaborate with the Southeast Asia-focused ride-hailing business on digital services.
State-owned funds back Series B for Chinese AI start-up
Cloudwalk, a Chinese artificial intelligence (AI) start-up that specializes in facial recognition technology has closed a Series B round of funding led by several government-backed funds. The deal underlines China’s desire to push further into AI-powered...
India's Droom gets $30m Series E round
The family office of Joe Hirao, founder of Japanese media platform ZigExN, has led a $30 million Series E round for Indian used-car trading marketplace Droom.
SIG leads Series B-plus for China car-sharing platform Togo
Chinese car-sharing platform Togo has received millions of US dollars in an extended Series B funding round led by Susquehanna Asia Investment (SIG), with participation from ZhenFund and Crescent Point. It takes the company’s total funding since inception...
KKR makes $1.5b bid for Australia's MYOB
KKR is looking to privatize Australian accounting software company MYOB, having acquired a substantial stake in the business from Bain Capital and made an unsolicited offer for all the remaining shares at a valuation of A$2.19 billion ($1.54 billion)....
India's Iron Pillar closes debut fund at $90m
Indian venture capital firm Iron Pillar Capital Management has closed its maiden fund with aggregate capital commitments of just over $90 million.
KKR, Tencent lead $175m investment in PLDT fintech unit
KKR and Tencent Holdings have led a $175 million investment in a financial technology unit of Philippines telecom giant PLDT. It is said to be the largest ever investment in a local technology company.
India's Blume reaches $40m first close on early-stage fund
Indian venture capital firm Blume Ventures has reached a first close of $40 million on Blume Ventures Fund III, its third early-stage fund.
Tencent invests $318m in recently-listed streaming site Bilibili
Tencent Holdings has agreed to invest $317.6 million in Bilibili, a VC-backed Chinese animation streaming platform that listed on NASDAQ in March.
Deal focus: Oyo passes the $1b mark
Oyo Rooms has taken a budget hotel marketing strategy that worked in India and applied it to overseas markets, notably China. Investors were bullish enough on its growth potential to provide a $1 billion Series E round
China Sports Capital leads $15m round for gaming network
Fighting Esports Group (FEG), a China-based online gaming network, has raised a RMB100 million ($14.5 million) Series A round led by China Sports Capital, a joint venture between Sequoia Capital China and CMC Capital Partners.
Mitsui leads $40m Series B for Singapore's Campana
Mitsui & Co has led a $40 million Series B round for Campana Group as the data network infrastructure company advances the installation of an undersea fiber cable system between Singapore and Myanmar.
Venturra leads $26m round for Philippines' First Circle
Venturra Capital has led a $26 million Series A round for First Circle, a Philippines-based lending platform operator focused on small to medium-sized enterprises (SME).
PAG-backed Tencent Music files for US IPO
Tencent Music Entertainment Group (TME), one of the world’s largest music streaming services, has filed to list in the US. PAG Asia Capital is among the company’s minority backers.
Deal focus: Growth capital secondaries
NewQuest Capital Partners and Committed Advisors have invested $175 million in a fund intended to institutionalize the Basil Partners platform and help its portfolio companies achieve greater scale
India, US-based Netradyne gets $21m Series B round
Netradyne, a US and India-based developer of artificial intelligence (AI) technology focused on automotive applications, has raised $21 million in Series B funding from a group of VC and strategic investors.
Blockchain VCs invest $20m in Singapore's AI Grid
A group of VCs specializing in blockchain-related investments has backed a $20 million round for The AI Grid Foundation, a Singapore-based company that promotes decentralized renewable energy usage.