Technology
Permira, Hillhouse agree $1.7b Magento exit
Permira and Hillhouse Capital will sell their stakes in Magento Commerce, a US company that provides transaction-processing software to e-commerce players, to Adobe as part of a $1.7 billion transaction.
Tencent leads $50m round for India's NewsDog
China's Tencent Holdings has led a $50 million Series C round for NewsDog, an Indian vernacular language news app founded by Chinese entrepreneurs.
Apax exits remaining GlobalLogic stake to Partners Group
Apax Partners has sold its remaining 48% interest in GlobalLogic, an IT outsourcing company founded by several Indian entrepreneurs, to Partners Group. The deal values the business at more than $2 billion.
Digital Garage, Toyota lead $30m round for India's Droom
Digital Garage and Toyota Tsusho, a division of Japanese automotive giant Toyota Group, have co-led a $30 million Series D round for Indian used-car trading marketplace Droom.
Hong Kong's Arbor raises $178.5m for second VC fund
Hong Kong-based Arbor Ventures has received $178.5 million in commitments for its second financial technology-focused venture capital fund. The targeted corpus is $220 million.
Bain-led Toshiba carve-out approved by Chinese regulators
A consortium led by Bain Capital Private Equity has won approval for the acquisition of Toshiba Memory Corporation (TMC) from China’s antitrust authorities, clearing the last major obstacle to the JPY2 trillion ($17.8 billion) transaction closing.
Indonesia's Alpha JWC to back PayPal incubator start-ups
Indonesia-based Alpha JWC Ventures has agreed to invest up to $5 million in PayPal’s financial technology start-up incubation program for Southeast Asia.
Vietnam start-ups: A tale of two cities
Hanoi and Ho Chi Minh City provide Vietnam’s nascent start-up scene with a unique double-hub structure. Ecosystem gestation remains slow but it is supported by a nuanced diversity
Malaysia's Jirnexu receives $11m Series B
Malaysia-based financial technology start-up Jirnexu has received an $11 million Series B funding round led by Japan’s SBI Group.
China early-stage investment round-up
Venture capital deals involving Fortune Capital, Sina Weibo, Sequoia Capital China, ChinaEquity Group, Cornerstone Capital, Geekbeans Capital, Atlas Capital, and Heyi Capital
Indian incubator raises $12.5m for seed fund
Indian educational institution IIM Ahmedabad has raised $12.5 million for its on-campus start-up incubator and seed fund from investors including the Bill and Melinda Gates Foundation.
Vision Plus raises $500m for China VC funds
Vision Plus Capital Partners, a Chinese venture capital firm set up by one of the co-founders of Alibaba Group, has raised $500 million for its second US dollar and renminbi-denominated funds.
Chinese autonomous driving start-up gets $128m Series A
Roadstar.ai, a Chinese start-up that specializes in autonomous driving technology, has received $128 million in Series A funding led by Shenzhen Capital Group and Wu Capital.
Q&A: IDG Ventures Vietnam's Henry Nguyen
Start-ups are attracting more attention in Vietnam as technology-oriented business models take root and local success stories emerge. Henry Nguyen of IDG Ventures Vietnam maps out the landscape
Australia's Westpac invests $37m in Reinventure
Australia’s Westpac Banking Corp has committed A$50 million ($37 million) to the third fund of its venture capital unit Reinventure.
Blackstone makes $217m partial exit from India's Mphasis
The Blackstone Group has made a partial exit from Indian IT services provider Mphasis, selling an 8% stake in the publicly traded company for approximately INR14.8 billion ($217 million).
Japanese unicorn Mercari targets $1b IPO, VCs set for exits
Mercari, a venture capital-backed Japanese consumer-to-consumer marketplace that became the country’s first unicorn in 2016, plans to raise up to JPY110 billion ($1 billion) through a domestic IPO.
Singapore's M17 Entertainment files for US IPO
M17 Entertainment, a Taiwan and Singapore-based media streaming company, has filed to list on the New York Stock Exchange.
Rakuten, EDBI lead $85m round for classifieds player Carousell
Rakuten Ventures and EDBI have led an $85 million Series C funding round for Singapore’s Carousell, an online flea market shopping app operator.
Beyond, Linear invest Hong Kong's Insight Robotics
Beyond Ventures and Linear Capital have co-led a $9 million investment in Insight Robotics, a Hong Kong-based company that specializes in advanced forest fire detection systems.
Singapore's Carro gets $60m Series B
Singapore-based automotive marketplace operator Carro has received a $60 million Series B funding round led by Softbank Ventures Korea, Insignia Ventures Partners and B Capital Group.
VC-backed Huya gains on US trading debut after $180m IPO
Huya, a Chinese game broadcasting business that spun out from social networking platform YY, gained 33.8% on its New York Stock Exchange trading debut following a $180 million IPO.
Chinese restaurant services app receives $63m
Mwee.cn, a Chinese restaurant booking app, has raised RMB400 million ($63 million) in the first tranche of a Series D funding round led by Koubei, Alibaba Group’s local services platform, and travel services business Ctrip.
Tech entrepreneurs and family offices: Collective might
Investment firms are emerging in Asia that leverage the collective wealth, knowledge and networks of the region's most successful internet entrepreneurs. These are family offices, but not necessarily in the traditional Western model