Technology
China agricultural drone maker XAG raises $46m
XAG, a Chinese manufacturer of agricultural drones, has raised RMB300 million ($46 million) in funding from GL Ventures.
Hillhouse, Tencent lead Series C for China's Fenbeitong
Hillhouse Capital and Tencent Holdings have led a $92.5 million Series C round for Fenbeitong, a China-based enterprise payment and expense management software provider.
China VC player Source Code to raise $1b
Source Code Capital, a Chinese venture capital firm founded by Yi Cao (pictured), formerly of Sequoia Capital China, is set to raise $1 billion across two funds.
WingArc raises $179m in Japan IPO, Carlyle makes full exit
The Carlyle Group has completed a full exit from Japanese enterprise software developer WingArc1st via the company’s JPY19.4 billion ($179 million) IPO.
Deal focus: MetaApp's supply-demand solution
China-based MetaApp has created an online platform that connects games with relevant gamers. Community building and social interaction are its watchwords
Fund focus: See Fund backs university talent
Having launched his own start-up on campus, Song Yao of See Fund is returning to China’s academic institutions to look for the next generation of hard technology unicorns
Fund focus: Openspace says it with distributions
Openspace Ventures launched its $200 million third fund comfortable in the knowledge that the first two were top-quartile performers. IPOs, trade sales and partial secondary exits have all played a role
Novo Tellus seeks control of Singapore-listed Procurri
Novo Tellus Capital Partners has moved to take control of Procurri, a Singapore-listed provider of IT services and data center equipment in which it acquired a minority position two years ago.
Sequoia leads Series A for China software start-up Terminus
Hangzhou-based enterprise software company Terminus has raised RMB400 million ($61 million) in Series A funding led by Sequoia Capital China. Existing investors Alibaba Cloud and Glory Ventures re-upped.
China mobile charging business targets US listing
Energy Monster, China’s largest mobile device charging service provider by gross revenue, has filed for a US IPO.
New Zealand's Seequent sold to US trade buyer for $1b
Accel-KKR, a private equity firm created by Accel Partners and KKR, is set to exit New Zealand engineering software provider Seequent to a US strategic in a deal worth $1 billion.
Deal focus: Gitai turns robot economics on its head
Japanese start-up Gitai eschews conventional wisdom that industrial-use robots must be specialized. Its Series B round will be used to build general-purpose robots for use in space
Korea's Coupang gains 41% on debut after $4.5b US IPO
BlackRock Private Equity Partners received proceeds of $936 million through a partial exit from Korean e-commerce business Coupang, which raised $4.55 billion in its US IPO. The stock gained 41% on debut.
Openspace raises $200m for third Southeast Asia VC fund
Openspace Ventures has closed its third Southeast Asia fund – which targets Series A and B rounds for companies with B2C and B2B technologies – at the hard cap of $200 million.
SIG leads $100m round for China gaming platform MetaApp
China gaming platform MetaApp has raised a $100 million Series C round led by SIG and featuring existing investors China Creation Ventures (CCV) and Sky9 Capital. It is said to be the largest single round in China's gaming industry.
China e-signature specialist Fadada gets $139m Series D
Tencent Holdings, Centurium Capital, and ZWC Partners have contributed RMB900 million ($139 million) in Series D funding to Fadada, a Chinese e-signature and cloud contract service provider.
MDV, Kenanga launch $73m Malaysia fintech fund
Malaysia Debt Ventures (MDV) and Kenanga Investment Bank have launched a VC fund focused on the local financial technology space with a target of MYR300 million ($73 million).
US-Japan VC hits $75m first close on cross-border fund
SIP Global Partners, a US and Japan-headquartered VC firm, has reached a first close of $75 million on its debut cross-border fund. The target is $150 million.
Polaris buys mapping business from Japan's Pioneer
Japanese technology conglomerate Pioneer Corporation has agreed to sell Increment P Corporation – its car navigation and mapping business – to Polaris Capital Group.
Fund focus: Asia Partners eyes Southeast Asia's white space
The growth-stage funding gap is approximately $1.1 billion per year in Southeast Asia, according to Asia Partners. The GP now has $384 million in dry powder to try and fill it
Deal focus: Point Avenue's O2O proposition
Vietnam education start-up Point Avenue is pursuing expansion across after-school tuition, bilingual K-12 schools, and online platforms. Gaw Capital will provide financial and strategic support
China regulation: Taming the giants
Recent regulatory reforms suggest that China will not let the growth of large technology companies go unchecked. The implications could be far-reaching, not least for VC investors and start-ups
China's Zhongneng secures $460m in equity, debt funding
Zhongneng United, a Chinese construction equipment rental platform specializing in aerial work, has raised RMB3 billion ($460 million) in Series C equity and debt financing across three tranches.
Allianz leads $75m round for Hong Kong's WeLab
Allianz Group has led a $75 million round for Hong Kong’s WeLab with a view to helping the financial technology provider develop new insurance and investment products.