Technology
Silver Lake raises $20b for global tech fund
Silver Lake has closed its sixth global buyout fund at the hard cap of $20 billion as the US tech investor exhibits a growing appetite for mega-deals in Asia. Its prior vintage raised $15 billion in 2017.
Ascendent founder sponsors SPAC targeting global deals
A special purpose acquisition company (SPAC) sponsored by Liang Meng, founding managing partner of China’s Ascendent Capital Partners, has raised $300 million for global consumer technology investments.
China's WeRide raises $310m
Chinese autonomous driving start-up WeRide has raised $310 million in Series B funding across three tranches led by Chinese electric bus manufacturer Yutong Group.
Hanwha leads $300m Series A for Grab's financial unit
Korea’s Hanwha Asset Management has led a $300 million Series A round for the financial services unit of Singapore-based ride-hailing and services platform Grab.
Warburg Pincus, Goodwater lead Series D for Vietnam's MoMo
MoMo, a Vietnam-based mobile wallet provider, has closed a Series D round of more than $100 million led by Goodwater Capital and Warburg Pincus.
Indonesian stockbroker Ajaib raises $25m Series A
Horizons Ventures, which is controlled by Hong Kong billionaire Li Ka-shing, and Indonesia’s Alpha JWC Ventures have led a $25 million Series A round for Indonesian investment platform Ajaib.
Korea media platform gets $12m Series C
Korea’s SV Investment has led a $12 million Series C round for local media and advertising platform Dable at a valuation of around $90 million.
Novo Tellus backs Singapore semiconductor industry supplier
Novo Tellus Capital Partners has invested S$23.6 million ($17.7 million) in Grand Venture Technology, a Singapore-listed provider of testing, assembly, and engineering services for semiconductor manufacturing.
Hong Kong's ORI hits first close on Fund II, exits Kymab
Hong Kong healthcare-focused VC firm ORI Capital has reached a first close of $112 million on its second fund and exited its largest investment, UK biotech developer Kymab, as part of a $1.1 billion deal.
Cathay closes second innovation fund $789m
Cathay Capital has raised EUR650 million ($789 million) for its second innovation fund, which supports start-ups in China, Europe, and North America.
Bow Wave joins $175m round for Philippines-based GCash
Bow Wave Capital Management, a US-based private equity investor in mobile payment ecosystems globally, has participated in a $175 million round for Philippines-based mobile wallet GCash.
China HR software start-up raises $190m
WorkTrans, a Chinese human resources services provider, has raised $190 million through two tranches, a Series C of $50 million and a Series D of $140 million.
Chinese fitness app Keep raises $360m
Keep, a Chinese mobile app that provides fitness training programs, has raised $360 million in Series F funding led by SoftBank Vision Fund.
Sequoia leads $150m Series B for China's Visen Pharma
China’s Visen Pharmaceuticals, a drug developer targeting glandular conditions such as dwarfism and growth deficiency has raised a $150 million Series B round led by Sequoia Capital China.
Adamantem sells Australia's Servian to US strategic
Australia’s Adamantem Capital has agreed to sell its position local data analytics consultancy Servian to US counterpart Cognizant for an undisclosed sum.
Goldman leads $50m round for China's Perfect
Perfect Corp, a Chinese developer of online beauty apps, has raised a $50 million Series C round led by Goldman Sachs.
China's Horizon Robotics raises $400m
Horizon Robotics, a Chinese developer of microprocessors that support artificial intelligence (AI) technologies, has raised $400 million in the second tranche of a Series C round led by Baillie Gifford, Yunfeng Capital, CPE, and electric vehicle battery...
Carlyle leads $123m Series D for China's Abbisko
The Carlyle Group - investing through its Asia growth fund - has led a $123 million Series D round for Chinese cancer-focused biotech developer Abbisko Therapeutics.
India's Z3 Partners hits first close on debut VC fund
India venture capital firm Z3 Partners has reached a first close of INR1 billion ($13.6 million) on its debut fund, which will invest in early-stage technology start-ups.
Hillhouse leads $28m round for China's DataCloak
DataCloak, a Shenzhen-based start-up that helps companies install data security systems on devices used by employees, has raised a $28 million Series B round led by Hillhouse Capital.
Hidden Hill leads $110m round for China's Baibu
Chinese B2B fabrics trading platform Baibu has raised $110 million in an extended Series D round led by Hidden Hill Capital, the private equity platform of logistics giant GLP.
India B2B marketplace Udaan raises $280m
Udaan, an India-based B2B marketplace, has raised $280 million from an investor group that includes existing backers Lightspeed Venture Partners, Tencent Holdings, DST Global, GGV Capital, and Altimeter Capital.
China AI chip player Enflame raises $279m Series C
Enflame Technology, a Chinese artificial intelligence (AI) chip designer, has raised a RMB1.8 billion ($279 million) Series C round led by CPE, China Capital Investment Group, and Primavera Capital.
Thiel, Pacific Century launch second Southeast Asia SPAC
Peter Thiel (pictured), co-founder of PayPal, Palantir Technologies and Founders Fund, and Richard Li, son of Hong Kong billionaire Li Ka-shing, are launching another special purpose acquisition vehicle (SPAC) that will target new economy assets in Southeast...