Technology
China's GTA Semiconductor raises $1.85b
GTA Semiconductor, a China-based semiconductor foundry specialising in chips for the automotive industry, has raised CNY 13.5bn (USD 1.85bn) in funding from unnamed investors.
GP profile: Quona Capital
Financial innovation-focused Quona Capital operates across global developing markets with a compact team and a strict returns-focused impact agenda. Asia dominates the growth narrative
500 Global raises $143m for Southeast Asia
500 Global has raised USD 100m for its third Southeast Asia-focused early-stage fund and USD 43m for a vehicle that will target growth-stage start-ups in the region.
India's Anicut hits $36m second close on VC fund
Indian early-stage investor Anicut Capital has achieved a second close of about INR 3bn on its latest fund. The target is INR 5bn with a greenshoe of INR 250m.
Indonesia VC: Institutional upgrade?
Having won early support from as assortment of local conglomerates, Indonesian venture capital firms must now demonstrate their independence when pitching international LPs
Fund focus: 3one4’s governance gambit
India’s 3one4 Capital credits a strong governance policy for rising institutional participation in its latest VC fund. Maintaining a global-local balance in the LP base is becoming crucial
Mitsui Sumitomo VC unit backs Israel fusion start-up
Japan’s Mitsui Sumitomo Insurance Venture Capital (MSIVC) has joined a Series A round for Israel-based nuclear fusion start-up NT-Tao that had raised USD 22m as of February.
Carlyle pursues $221m Japan chemicals take-private
The Carlyle Group has launched a tender offer for Seiko PMC that values the Tokyo-listed paper and ink chemicals manufacturer at approximately JPY 32.4bn (USD 221m).
China's TH Capital hits first close on debut US dollar fund
TH Capital, a private equity firm that originated from China's Tsinghua University and was formerly known as Tsinghua Holdings Capital, has completed a USD 60m first close on its debut US dollar-denominated fund.
Japanese autonomous trucking start-up raises $24m
T2, a Japanese autonomous driving start-up that focuses on trucking, has raised JPY 3.5bn (USD 24.1m) in Series A funding from a combination of financial and strategic investors.
China robot surgery specialist raises $27m
Shanghai-based surgical robot business Ronovo Surgical has raised CNY200m（USD 27m）in an extended pre-Series B round led by NRL Capital.
Qiming, Orbimed lead Series A for China's Epigenic
Qiming Venture Partners and OrbiMed Asia Partners have led a USD 32m Series A round for Chinese gene editing therapy start-up Epigenic Therapeutics.
China carpooling player Dida revives Hong Kong IPO bid
Dida, a PE-backed Chinese car-pooling and ride-hailing platform, has filed to list in Hong Kong – for the fourth time in three years. There are records of lapsed registrations from 2020, 2021, and earlier in 2023.
China telecom towers business gets $150m from sovereign investor
China’s Guodong Network Communication Group, an independent telecom tower company, has raised USD 150m from Abu Dhabi sovereign wealth fund Mubadala Investment.
Japan space robot maker Gitai raises $45m
Japanese space robotics start-up Gitai has lifted its Series B round to USD 45m with a new USD 15m tranche featuring Mitsui Sumitomo Insurance Venture Capital.
Integral backs Japan software player TCS
Japanese private equity firm Integral Corporation has invested an undisclosed sum in local IT services and business software company TCS Group.
Trustar exits Japan's Moritex via $275m trade sale
Trustar Capital has sold Japanese machine vision lenses maker Moritex Corporation to a strategic buyer for about USD 275m after a nearly nine-year hold.
Deal focus: Family offices flock to FirstCry
FirstCry’s USD 52m funding round underscores the willingness of certain Indian family offices to lead sizeable technology deals and the importance attached by companies to investor base diversification
Generative AI in due diligence: Crunching new numbers
Private equity is rediscovering artificial intelligence as a due diligence tool in the wake of ChatGPT. Data security, legal, and technical risks have curbed uptake somewhat, less so for venture
Fund focus: Forebright relies on its domain expertise
LP allocations to China funds are limited in number and hotly contested. Forebright Capital closed its latest vehicle by emphasising its track record in advanced manufacturing and enterprise software
China's PE-backed Ubtech Robotics files for HK IPO
Ubtech Robotics, a China-based developer of service and humanoid robots valued at CNY 32bn (USD 4.4bn) in its most recent private funding round, has filed for a Hong Kong IPO.
Indonesia's Venturra teams up with Dasym for next fundraise
Indonesian venture capital firm Venturra has teamed up with Netherlands-based investment group Dasym to institutionalise operations ahead of the launch of its next fund.
BPEA EQT exits India's Coforge via $924m block trade
BPEA EQT has sold its remaining 26.6% stake in India-listed IT provider Coforge, realising USD 924m through a block trade and completing a staged exit started in late 2020.
Vietnam's VNG files for US IPO
Vietnam-based VNG, operator of the country’s largest mobile game publishing platform and largest messaging app, has filed for an IPO in the US.