Technology
BGH bids $1b for Australian software provider Hansen
Australian private equity firm BGH Capital has offered to acquired Sydney-listed industrial software provider Hansen Technologies for an enterprise valuation of A$1.3 billion ($1 billion).
China renovation materials trading platform raises $400m
Chubby Bear, a Shanghai-based B2B platform that matches buyers with suppliers of renovation materials, has raised $400 million across two tranches of Series C funding.
Orchid Asia reaches $1.1b first close on Fund VIII
Orchid Asia has achieved a first close of $1.1 billion on its eighth fund, five months after launching the vehicle with a full target of $1.6 billion.
Singapore food tech VC raises $25m for debut fund
Good Startup, a food tech VC set up in Singapore last year, has hit a $25 million first close on its debut fund, which will invest exclusively in alternative protein start-ups.
India's Urban Company closes Series F, hits $2.1b valuation
India’s Urban Company, a marketplace for in-home services from housekeeping to fitness training, has raised $255 million in Series F funding at a valuation of $2.1 billion.
China's Oceanpine raises $312m for renminbi hard-tech fund
Chinese technology and healthcare investor Oceanpine Capital has closed its Hardcore Technology Investment Fund on RMB2 billion ($312 million). LPs include government guidance funds and fund-of-funds in Suzhou, where the new vehicle is based.
Singapore's iGlobe completes $100m fundraise
Singapore-based iGlobe Partners has closed its third venture capital fund with $100 million in commitments.
Unicorn raises $450m for VC fund-of-funds
China-focused venture capital fund-of-funds Unicorn Capital Partners has closed its latest vehicle at the hard cap of $450 million. The process took six months and the fund was oversubscribed
China SaaS provider Xforceplus raises $200m
Chinese software-as-a-service (SaaS) provider Xforceplus has raised a $200 million round led by Silicon Valley’s Dragoneer Investment Group and Beijing-based MSA Capital.
Fund focus: Glory's deep-tech thesis gains traction
Having initially struggled to win over LPs with a strategy focused on capital-intensive deep-tech assets, Glory Ventures was helped by US-China technology decoupling and the rise of new infrastructure
Deal focus: NiKang pursues hard-to-drug targets
With big pharma scaling back early-stage discovery, CBC Group is keen to incubate biotech start-ups developing drugs from scratch. NiKang Therapeutics is the first to secure wider investor attention
PE-backed PropertyGuru buys Malaysia, Thailand assets from REA
PropertyGuru, a Singapore-based real estate portal backed by the likes of TPG Capital and KKR, has acquired REA Group’s property technology assets in Malaysia and Thailand.
China trucking platform Manbang files for US IPO
Manbang, a China trucking business that claims to be the world’s largest digital freight platform, has filed for a US IPO. The company achieved a valuation of $12 billion in its most recent funding round six months ago.
Glory raises $120m for second China venture fund
China's Glory Ventures has closed its second US dollar-denominated fund at $120 million, with VC-focused fund-of-funds Unicorn Capital Partners serving as the anchor LP.
Netease to spin out PE-backed music streaming business
Cloud Village, a music streaming business controlled by Chinese internet and gaming giant NetEase and backed by the likes of General Atlantic, Boyu Capital, and Yunfeng Capital, has filed for a Hong Kong IPO.
KKR bids for Australia conveyancing business
KKR is seeking to become the largest shareholder in Pexa, an Australia-based electronic settlement network for property deals, having offered to take out Link Administration Holdings at an enterprise valuation of A$3 billion ($2.3 billion).
Vivo, Novo back Singapore's Esco Lifesciences
Vivo Capital and Novo Holdings have led a $200 million Series A round for Esco Lifesciences, a Singapore-based manufacturer of biopharma lab equipment and medical devices.
China shipping tech platform Yunquna raises $100m
Yunquna, a China-based online logistics platform for the shipping industry, has raised $100 million in the first tranche of a Series D round. Its valuation now surpasses $1 billion.
Vision Fund leads Series C for India-founded Zeta
SoftBank Vision Fund 2 has led a $250 million round for Zeta, an Indian-founded and now US-headquartered banking software-as-a-service (SaaS) provider, at a valuation of $1.4 billion.
Australia fintech start-up raises $19m Series A
Australian payments technology platform mx51 has raised A$25 million ($19.4 million) in Series A funding led by Acorn Capital, Artesian, Commencer Capital, and Mastercard.
Vision Fund invests $175m in Korea education start-up
SoftBank Vision Fund 2 has invested $175 million in Korean education app Riiid to build out its artificial intelligence (AI) capacities and advance a global expansion.
China university start-ups: Campus creativity
From DJI to Ele.me, numerous successful start-ups have emerged from universities in Greater China. VC investors recognize the talent, but they are sometimes wary of the structures
Deal focus: NFT start-up declares war on the internet
Hong Kong’s Animoca Brands is at the forefront of securing digital property rights via cryptographic tokens. The concept is germinating in the games sector, but it is expected to change everything
China online education player Zhangmen targets US listing
Zhangmen, a private equity-backed Chinese online K-12 education platform specializing in one-to-one and small-class tuition, has filed for a US IPO.