Technology
Investment becomes Tencent's main profit driver in 2021
Investment accounted for the bulk of Tencent Holdings' annual profit for the first time in 2021 as the Chinese technology giant saw earnings from its core business contract in the second half of the year.
Australia's Carthona hits $75m first close on VC fund
Australia-based VC firm Carthona Capital has reached a first close of AUD 100m (USD 75m) – against a target of AUD 200m – on its fourth fund, which will add Web3 to its existing focus areas.
Quadrant secures $217m Australia IT services exit after two-year hold
Quadrant Private Equity has sold Australian IT enterprise services business Arq Group to NCS Group, a SingTel Group-owned IT and communications engineering player, for AUD 290m (USD 217m).
IIFL Private Equity targets $524m for latest India pre-IPO fund
IIFL Private Equity is seeking up to INR 40bn (USD 524m) in commitments for its latest India pre-IPO fund as part of a broad fundraising push intended to secure INR 70bn to INR 80bn across multiple strategies over the next 12 months.
India cricket metaverse start-up raises $100m
Insight Partners has led USD 100m Series A round for FanCraze, an Indian digital assets start-up that earlier this year launched a range of cricket-themed non-fungible tokens (NFTs).
A91 leads $35m Series C for India beauty brand
A91 Partners has led a USD 35m Series C round for Plum, an India-based direct-to-consumer (D2C) personal care brand. Existing investors Unilever Ventures and Faering Capital also participated.
China enterprise AR specialist Rokid raises $160m
Rokid, a China-based company specialising in augmented reality (AR) technology applications, has raised USD 160m in Series C funding across two tranches.
China AI start-up Aibee joins unicorn club
China-based artificial intelligence start-up Aibee has achieved a valuation of more than USD 1bn on closing a new funding round led by smartphone brand Xiaomi and featuring China Merchants Capital.
Eight Roads launches $350m China tech fund
Eight Roads Ventures has raised a China fund with a corpus of USD 350m which will make venture and early growth investments across enterprise, financial, and consumer technologies
Deal focus: Bazaar, Zayn encapsulate Pakistan's breakout moment
Bazaar, a B2B logistics and financial services start-up, is putting Pakistan on the map for brand-name global VC investors for the first time. One of its key local backers, Zayn Capital, is doing the same
Q&A: Amasia's John Kim
John Kim, co-founder of Singapore and US-based Amasia, explains how a climate impact thesis “swallowed up” his generalist VC firm and shifted its focus from technology to behaviour
China's Nio Capital closes Fund II on $400m
Nio Capital, a China-based investment firm established by the founder of domestic electric vehicle (EV) manufacturer Nio, has raised USD 400m for its second US-dollar denominated fund.
AppWorks targets $360m for Fund IV, launches Web3 arm
Taiwan-based VC firm and accelerator AppWorks has established a dedicated Web3 arm and plans to launch its fourth flagship fund with a target of USD 360m in the second quarter of 2022.
PE-backed TuSimple ponders Asia asset spinout
TuSimple, a private equity-backed developer of autonomous driving technology for trucks that listed in the US less than 12 months ago, is considering a spinout of its Asia Pacific operations.
China's Rockets Capital hits $200m first close on debut fund
Rockets Capital, a Chinese investment firm co-founded by Bing Yuan, formerly COO of Hony Capital, in conjunction with the senior leadership of local electric vehicle (EV) maker Xpeng, has reached a first close of USD 200m on its debut fund. The overall...
PropertyGuru completes SPAC merger, trades flat
PropertyGuru, a private equity-backed Southeast Asia real estate portal, traded flat on its New York Stock Exchange debut following a merger with a special purpose acquisition company (SPAC) at an enterprise value of USD 1.36bn.
China smart projector brand JMGO raises $158m
IDG Capital and Chinese smartphone brand Oppo have invested CNY 1bn (USD 158m) in JMGO, a local manufacturer of smart projection equipment developer JMGO that also goes by the name Holatek.
Japan mobile banking player Kyash gets $41m Series C
Altos Ventures, Goodwater Capital, Greyhound Capital, and StepStone Group are part of an investor group that has committed JPY 4.9bn (USD 41m) in Series D funding to Tokyo-based mobile banking start-up Kyash.
India media tech supplier Amagi secures $95m
Amagi, an India-based broadcasting industry technology provider that claims an audience of more than 2bn people, has raised a USD 95m round led by Accel Partners at a valuation of at least USD 1bn.
PE-backed GoTo targets $1.1b Indonesia IPO
Indonesia-based ride-hailing service turned super app GoTo, which counts Alibaba Group and SoftBank Vision Fund among its largest external investors, is looking to raise at least IDR 15.2trn (USD 1.1bn) through a domestic IPO.
India's Licious raises $150m at $1.6bn valuation
India’s Licious, a direct-to-consumer fresh meat and seafood delivery company, has raised a USD 150m round led by Amansa Capital at a valuation of USD 1.6bn.
Pakistan's Bazaar gets $70m Series B
Pakistani B2B e-commerce and financial technology platform Bazaar has raised a USD 70m Series B round led by Dragoneer Investment Group and Tiger Global Management.
Deal focus: Mighty Jaxx revels in 'phygital' bridge role
In collectables maker Mighty Jaxx, East Ventures saw not only an effective traditional retail brand, but a company capable of elevating the user experience by straddling the digital and physical worlds
Deal focus: Financial crime pays for Silent Eight
Singapore’s Silent Eight is tackling the toughest cybersecurity subsegment and securing global clients in its early stages. Wavemaker Partners predicts a near-term explosion in growth