Financial Services
Morgan Stanley PE Asia backs Hong Kong financial advisor AMTD
Morgan Stanley Private Equity Asia (MSPEA) has invested an undisclosed sum in AMTD, Hong Kong’s leading independent financial planner (IFA) and insurance broker.
PE-backed Juxin Leasing files for A-share IPO
Juxin International Leasing, a Chinese specialty leasing company backed by two PE investors, has filed a Shanghai IPO that could be worth up to RMB1.25 billion ($204 million).
JD to acquire controlling stake in Chinese brokerage
Chinese GP JD Capital plans to acquire a 51% stake in Teemrise Securities, a Chinese brokerage firm, for RMB364 million ($59 million).
Bain buys Chinese financial leasing business
Bain Capital has acquired an 80% interest in China-based Lionbridge Financial Leasing. It is the private equity firm's first investment in China's financial services sector.
China online finance: Money to the masses
The rise of peer-to-peer lending businesses in China is good for small companies that can't get bank financing and VC firms looking to ride the next wave. But concerns remain over regulation and reliability
Levin Zhu resigns as CEO of CICC
Levin Zhu, son of former Chinese premier Zhu Rongji, has resigned as CEO and chairman of the management in China International Capital Corporation (CICC) after 16 years.
PayU acquires VC-backed Indian payments start-up
Online payment solutions provider PayU India has acquired Cobboc, the VC-backed start-up behind mobile payments app Eashmart.
India payments firm FSS raises $57m from Premji Invest
Premji invest - the family office of Wipro Enterprises chairman Azim Premji - has invested INR3.5 billion ($57 million) India payments firm FSS.
Sun Hung Kai invests in China P2P lending site Dianrong
Sun Hung Kai & Co.(SHK), a leading Hong Kong financial institution, has invested in a Series B round of funding for Chinese peer-to-peer (P2P) lending service Dianrong.
GIC leads $150m round for US e-commerce start-up Square - report
Singapore sovereign wealth fund GIC Private is said to have led a $150 million Series E round investment in US e-payments start-up Square.
Ayannah banks on the unbanked
Explaining why cross-border remittances into the Philippines are not his core business, Mikko Perez points to Hong Kong’s Central district on a Sunday, when the domestic helpers are out in force. “It’s so cut throat – we are talking basis points...
Blackstone-owned Hilton sells New York's Waldolf Astoria to China insurer
China’s Anbang Insurance Group has agreed to buy the Waldorf Astoria hotel in New York from Hilton Worldwide Holdings, a portfolio company of The Blackstone Group, for $1.95 billion.
Gree Ventures backs Philippines payments business
Gree Ventures has participated in a Series C round of funding for Philippines-based digital payments business Ayannah. Wavemaker Labs, Golden Gate Ventures, IMJ Investment Partners and Beenos Asia also participated.
VC-backed iMoney gets funding from Australia's iSelect
IMoney Group, a Malaysia-based financial comparison start-up backed by Jungle Ventures, has received approximately MYR13 million ($4 million) from iSelect, an Australia Securities Exchange-listed online comparison service.
Canaan's Khanna to launch India venture debt fund
Canaan Partners Managing Director Rahul Khanna is to launch a INR3 billion ($49 million) debt fund aimed at supporting early-stage and established technology ventures in India.
Morningside bets on social network
"We currently have a large position in Apple. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come." This 24-word Tweet, comprising just 111 characters, managed to push up Apple's value by $12 billion in less than...
Legend leads $50m round for China online finance site Tongbanjie
Legend Capital has led a $50 million Series B round of funding for Tongbanjie, a Chinese online finance mobile app, with participation from existing investors IDG Capital Partners and China Growth Capital.
KKR agrees $164.2m financing package for India's GMR Infra
KKR has agreed to invest INR10 billion ($164 million) in ailing Indian infrastructure conglomerate GMR Holdings (GMR), the parent of GMR Infrastructure (GIL), via a structured credit facility.
LeapFrog jumps to $400m fundraise
“Emerging consumers across Africa and Asia are working to achieve prosperity and security for their families and businesses, but most have yet to reach the middle class. There is an immense demand for transformative financial tools,” says Andrew Kuper,...
Renren leads round for Chinese financial social network
China’s social networking platform Renren has led a $40 million Series C round for Snowball, a Chinese financial information portal, with participation from existing investor Morningside Technologies.
Xiaomi, Shunwei lead $37m round for China P2P lending site Jimubox
Chinese smart phone maker Xiaomi and Shunwei Capital Partners, both founded by Chinese angel investor Lei Jun, have jointly led a $37.2 million Series B round of funding for Jimubox, a peer-to-peer (P2P) lending start-up in China.
LeapFrog reaches $400m close on second microfinance fund
LeapFrog Investments - the specialist microfinance investor backed by George Soros and JP Morgan Chase - has reached a $400 million close on its second fund targeting financial services investments in emerging Asia and Africa.
Fosun VC provides Series B for Chinese personal finance app
Fosun Venture Capital Investment, a VC arm of Fosun Group, has invested in a Series B round of funding for Feidee.com, Beijing-based personal finance management website, with participation from existing investor Sequoia Capital.
China Huarong secures $2.4b from investors ahead of IPO
A group of private investors will pay RMB14.5 billion ($2.35 billion) for a combined 20.98% stake in China Huarong Asset Management, one of four groups tasked with managing non-performing loans (NPLs) from state-owned banks, ahead of a planned public...