Technology
China education player Zuoyebang raises $750m
Zuoyebang, a Chinese K-12 education platform that spun out from domestic search giant Baidu, has raised $750 million in Series E funding led by Fountainvest Partners and Tiger Global Management.
Bond Capital backs India education platform Byju's
Bond Capital, the technology investment firm established by Silicon Valley veteran Mary Meeker, has struck its debut deal in India with a commitment to online learning provider Byju’s.
China's Agora more than doubles in value after $350m US IPO
Agora.io, a real-time voice and video communication platform established by Tony Zhao, formerly CTO of Chinese social networking player YY.com, saw its stock gain 151% on its NASDAQ trading debut following a $350 million IPO.
China LGBTQ investments: Pink power
There has been little VC investment in Chinese LGBTQ social platforms since 2017 due to regulatory concerns. Will gay dating site Blued’s US IPO reignite interest in the space?
Japan Industrial Partners to buy Olympus' imaging division
Japan Industrial Partners (JIP) has agreed to acquire Olympus Corporation’s camera and lens business, which has posted losses in each of the last three years.
Ascent Capital backs Myanmar internet provider Frontiir
Ascent Capital, a Singapore-based private equity firm, has made its debut investment in Myanmar by leading a $26 million commitment to internet service provider (ISP) Frontiir.
Deal focus: Running the CFIUS gauntlet for Grindr
Grindr, America's most popular LGBTQ dating app, was only put up for sale because its Chinese owner violated foreign investment regulations. San Vicente's subsequent $560 million acquisition faced intense scrutiny
Profile: Kejora Ventures' Sebastian Togelang
Looking for new business opportunities, Sebastian Togelang returned to Indonesia from Germany to invest in technology start-ups. He counsels entrepreneurs that it pays to be part of a larger platform
India's Milkbasket raises $5.5m Series B
Inflection Point Ventures has led an INR420 million ($5.5 million) Series B round for Indian grocery delivery startup Milkbasket.
Fund focus: Beenext targets a world beyond the mirrors
Beenext Capital Management has expanded its LP base while maintaining fund size discipline. This is born of a philosophy that capacity for cross-pollination is more important than capacity for deployment
Hillhouse invests $400m in China data center player
Hillhouse Capital has taken a 3.9% interest in US-listed Chinese data center developer GDS Holdings for $400 million.
Australia's Canva raises $60m at $6b valuation
Canva, an Australian graphic design platform, has raised $60 million in VC funding, almost doubling its valuation to $6 billion. It attributed the growth to a shift online amid COVID-19.
Toshiba seeks exit from PE-controlled flash memory business
Toshiba is exploring ways to fully exit its 40.2% stake in Kioxia Holdings, two years after selling control of the Japanese flash memory division to a Bain Capital-led consortium for an enterprise valuation of JPY2 trillion ($18.7 billion).
Blackstone invests $150m in China's 21Vianet
The Blackstone Group has invested $150 million in 21Vianet, a US-listed Chinese data center developer backed by Singapore’s Temasek Holdings.
Chinese IPOs: One less option
Will Chinese companies listed in the US become the latest casualties of tensions between the two countries? It could lead to a narrowing in IPO exit options for PE and VC investors
Deal focus: Yidui delivers love by video
Sky9 Capital and Xiaomi have thrown their support behind a Chinese video-dating platform designed for Generation Z, complete with virtual meeting rooms, live audiences, and mechanisms for crashing other people's dates
SCB 10X, Sparx lead $80m round for Thai fintech player
Thailand-based financial technology provider Synqa, formerly known as Omise, has raised an $80 million Series C round led by local VC firm SCB 10X and Japan’s Sparx Group.
Chinese car parts supplier Casstime raises $50m
Chinese aftermarket car parts supplier Casstime has raised $50 million in the second tranche of Series C round led by Greater Bay Area Homeland Investments.
China logistics robot specialist raises $200m Series C
Geek+, a manufacturer of robots used to move merchandise around warehouses, has closed a Series C funding round, having raised $200 million across two tranches.
China gay dating app Blued pursues US IPO
BlueCity Holdings, the company behind Chinese gay dating platform Blued, has filed an application to list on NASDAQ, which would provide a liquidity event for several PE and VC investors.
India's Jio Platforms set for record Asia growth capital fundraise
Saudi Arabia’s Public Investment Fund (PIF) has agreed to invest INR113.6 billion ($1.5 billion) in India’s Jio Platforms. This takes its overall funding to INR1.15 trillion, the largest single growth capital haul for an Asian technology company.
Fund focus: Cathay taps strategic expertise in energy
Cathay Capital Private Equity is raising what it claims is China's first-ever smart energy fund, relying on contributions from LPs that offer strategic as well as financial support
Deal focus: Indonesia's GoPlay changes the channel
Golden Gate Ventures is backing GoPlay, a media streaming spin-out from Indonesia's GoJek, to tap an underserved Southeast Asian audience with local recreations of popular international TV shows
Beenext raises $160m for emerging markets, Japan funds
Singapore-based VC firm Beenext Capital Management has raised $160 million across two funds that will invest in start-ups in Japan and emerging markets.