Financial Services
Australia's PEP in $541m partial exit from Veda
Pacific Equity Partners (PEP) has exited half its stake in credit-checking firm Veda Group in a deal worth around A$580 million ($541 million).
Softbank, Pantera lead $3m Series A for Korean bitcoin exchange
SoftBank Ventures Korea and Pantera Capital have led a $3 million Series A round of funding for Korean bitcoin exchange, wallet and merchant processor, Korbit.
Chinese payment platform completes Series B
Qufenqi.com, a Chinese installment payment platform, has raised a Series B round of funding from Source Code Capital, Golden Summit and BlueRun Ventures.
Fosun takes 20% stake in insurer Ironshore
Fosun International plans to acquire a 20% stake in Ironshore for $464 million, becoming the property and casualty insurer's largest shareholder.
TPG buys control of Sri Lankan bank
TPG Capital has agreed to invest approximately $117 million in Union Bank of Colombo (UBC) in what will be Sri Lanka’s largest-ever private equity buyout as well as one of the biggest foreign direct investments in the country in recent years.
PLDT sees Rocket as proxy for global growth
Smart eMoney, a mobile payment business owned by Philippine Long Distance Telephone (PLDT), first ventured overseas in partnership with Mastercard in 2010.
GGV leads round for Chinese personal finance app Yingying
GGV Capital has led a Series A+ round of funding for Yingying Licai, a Chinese personal finance mobile app.
PLDT acquires 10% stake in Rocket Internet
Philippine Long Distance Telephone Company (PLDT) has acquired a 10% stake in German e-commerce incubator and investor Rocket Internet for EUR333 million ($445 million).
PE-backed CICC to pick advisers for IPO – report
The private equity-backed China International Capital Corporation (CICC), China’s largest investment bank, has reportedly picked ABC International Holdings and CCB International as joint sponsors for its Hong Kong IPO.
Hong Kong's 8 Securities raises $9m Series B
Hong Kong-based stock trading and financial management platform 8 Securities has raised a $9 million Series B round of funding. The round included unnamed US and Chinese investors and existing backers Velocity Capital and Leitmotiv Private Equity.
PAG to exit Haitong Securities via $219m sell-down – report
PAG has reportedly made another partial exit from Haitong Securities, raising about HK$1.7 billion ($219 million) via a private placement.
Apax invests $83.2m in India NBFC Cholamandalam
Apax Partners is investing INR5 billion($83.2 million) in Cholamandalam Investment & Finance (CIF), a non-banking finance company (NBFC), in exchange for potential 8% stake.
Apis Partners to launch Asia, Africa fintech fund
Newly-created private equity firm Apis Partners has launched its first growth capital fund targeting financial technology (fintech) investments in Asia and Africa.
Government funds back Chinese P2P platform Huaguo
The government-backed Blue Economy Zone Industry Fund (Blue Fund) and Capital Science and Technology Group, the private equity arm of the Beijing local government, have led a Series A round of funding for Chinese peer-to-peer (P2P) lending platform Huaguo...
Temasek exits New China Life via share sell-down
Temasek Holdings has exited its entire stake in New China Life Insurance, China’s third-largest life insurer, raising HK$2.14 billion ($276 million).
Temasek’s Pavilion Capital leads $60m round for Rong360
Temasek Holdings’ Pavilion Capital has led a $60 million Series C round of funding for Rong360, a Chinese online search for loan products.
PE investors near deal for China NPL manager Huarong - report
A group of private investors is nearing a $2 billion deal for a minority stake in China Huarong Asset Management, one of four groups tasked with managing non-performing loans (NPLs) from state-owned banks.
Carlyle exits India's Repco Home Finance
The Carlyle Group has fully exited its stake in India's Repco Home Finance (RHF) for INR4.72 billion ($78.4 million) via an open market transaction.
Multiples makes partial exit from South Indian Bank
India's Multiples Alternate Asset Management has made a partial exit from locally-listed South Indian Bank (SIB), selling one fifth of its stake for around INR428 million ($8 million).
Carlyle to acquire Japan's SBI Mortgage
The Carlyle Group has made a tender offer to acquire 100% of Japanese mortgage bank SBI Mortgage in deal valued at approximately JPY43.2 billion ($423 million).
TPG invests in Hong Kong-based hedge fund seeder
TPG Capital will take an ownership interest in HS Group, a Hong Kong-based investment company that provides seed capital to hedge funds, as part of strategic partnership between the two firms.
Haitong Capital leads $32m round for Chinese finance portal
Haitong Capital, a private equity arm of Haitong Securities, has led a $200 million ($32 million) round of funding for 91Jinrong, a Chinese financial portal.
IFC commits $25m to India's Au Financiers
International Finance Corporation (IFC) has invested $25 million more in Indian non-banking financial company (NBFC) Au Financiers through a private placement of non-convertible debentures.
VC in China P2P: Revert to the norm?
China venture capital goes through fads and phases. A business model – perhaps already proven in another market – is rolled out locally. This precipitates a flood of copycats, plunging the market into a period of cutthroat competition. Consolidation...