Technology
Aramco backs Japan drone start-up
Saudi Arabia’s Aramco, the world’s largest oil company, has invested USD 14m in Japanese drone maker Terra Drone on the back of a JPY 8bn (USD 62m) Series B round.
India's PhonePe raises $350m at $12b valuation
General Atlantic has invested USD 350m – at a pre-money valuation of USD 12bn – in PhonePe, a digital payments platform that spun out from Indian e-commerce marketplace Flipkart.
Deal focus: Secondary investors support Capital Square, Basil merger
Capital Square Partners and Basil Technology Partners have joined forces, with HarbourVest Partners, NewQuest Capital Partners, and Committed Advisors backing a USD 700m fund comprising Asia IT services investments from both GPs
China's Yunqi seeks $300m for fourth VC fund
Yunqi Partners, which makes early-stage investments in China’s enterprise software and services space, is targeting USD 300m for its fourth US dollar-denominated fund.
Avatar Growth leads Series C for India's Mad Street Den
Avatar Growth Capital, a private equity firm specialising in bringing Indian tech to global markets, has led a USD 30m Series C round for US and India-based retail services player Mad Street Den.
China satellite developer Minospace raises $60m
Beijing-based satellite developer Minospace has raised nearly CNY400m (USD 59.6m) across a Series B round and a Series B extension.
Japan rocket start-up Interstellar gets $29m Series D
Interstellar Technologies, which in 2017 became the first Japanese company to launch a privately developed space rocket and is currently working on solutions for sending small satellites into orbit, has raised JPY 3.8bn (USD 29.6m) in Series D funding....
India's IIFL Asset Management merges with Truscale
India-based alternative investment manager IIFL Asset Management (IIFL AM) has agreed to take ownership of TrueScale Capital, a venture growth firm established by Sameer Nath, formerly of Iron Pillar.
GIC, PIF invest $924m in Korea's Kakao Entertainment
Singapore’s GIC and Saudi Arabia’s Public Investment Fund (PIF) have agreed to invest a combined KRW 1.15trn (USD 924m) in Korean internet giant Kakao’s entertainment division.
Capcon Semiconductor raises $50m
Hillhouse Capital, Cowin Capital, Chengchuang Capital, and SAIC Motor Corporation's Shangqi Capital have participated in a USD 50m extended Series B round for Capcon, a Chinese-founded supplier of semiconductor assembly and packaging equipment.
India's Avataar hires partner from Alpha Wave Global
Avataar Venture Partners, an India-based investor in growth-stage B2B technology and software-as-a-service (SaaS) companies, has recruited Anirudh Singh from Alpha Wave Global as a partner.
Everstone, Goldman buy IT consulting player Cprime
India and Southeast Asia-focused private equity firm Everstone Capital has teamed up with Goldman Sachs Asset Management to acquire US-headquartered IT consulting business Cprime. The size of the transaction was not disclosed.
L Catterton joins round for e-bike player Tenways
Tenways, an electric bicycle manufacturer headquartered in the Netherlands with a strong supply chain in Asia, has raised CNY 300m (USD 44m) in Series A funding, including an extension led by L Catterton.
Nio Capital backs China battery recycling start-up
Nio Capital has led a Series A for China-based battery recycling start-up Ruilong Technology. The company did not disclose the exact size of the round, merely saying it amounted to several hundreds of millions of renminbi.
AC, Indies sign up to Malaysia government tech drive
Indonesia-focused AC Ventures and Indies Capital have agreed to support a Malaysian tech investment programme led by government VC unit Penjana Kapital.
Deal focus: TR leads $150m multi-asset secondary for India's Samara
TR Capital first worked with Samara Capital on a single-asset continuation fund for Sapphire Foods India – and saw the local Yum Brands franchisor go public about three months after the deal was announced. It has now reunited with Samara for what amounts...
Advent joins Series D for India's KreditBee
Advent International has committed USD 100m to Indian lending start-up KreditBee as an extension to a Series D round announced last month.
China's Breton Technology raises $84m
Breton Technology, a China-based manufacturer of new energy mining equipment, has closed an extended Series C round of CNY 579m (USD 84.5m) from a slew of domestic investors.
ChrysCapital acquires US-India IT player Xoriant for $350m
India’s ChrysCapital Partners has acquired Xoriant, a US-headquartered but primarily India-based software engineering and IT provider, for about USD 350m.
PAG invests $500m in China's iQiyi
PAG has invested USD 500m in China-based online video streaming platform iQiyi through a private placement of senior convertible notes.
Northstar hits first close on Southeast Asia VC fund
Southeast Asia-focused private equity firm Northstar Group has reached a first close of USD 90m on its first venture capital fund. The overall target is USD 150m.
Hong Kong's VMS appoints PE head
Hong Kong-based multi-strategy alternatives asset manager VMS Group has appointed Jianming Zou, formerly of New Horizon Capital, as head of private equity.
China's Moore Threads closes $218m Series B
Moore Threads, a China-based designer of artificial intelligence (AI) chips, has raised CNY 1.5bn (USD 218m) in Series B funding led by China Mobile Digital New Economy Industry Fund and Hexie Health Insurance, with participation from Dianshi Capital....
Australia's Potentia backs telecoms technology player
Australia’s Potentia Capital has paid AUD 66.3m (USD 44.9m) for a 25% stake in Soprano Design, a local mobile messaging technology provider that counts Telstra and AT&T as its carrier partners.