Financial Services
Morningside backs China online P2P lender Yooli
Morningside Technologies has provided a Series B round of funding for Yooli.com, a Chinese peer-to-peer financing platform backed by Softbank China Capital.
Sequoia, TOM Group support HK P2P lender WeLab
Sequoia Capital and Asian billionaire Li Ka-Shing's TOM Group have invested $14 million in WeLab, the start-up behind peer-to-peer (P2P) lending platform WeLend.hk, in a Series A round of funding .
China Minsheng Bank commits $60m to Modern Land PE fund
China’s Minsheng Bank has committed RMB370 million ($60 million) to a private equity fund established by Modern Land, a Hong Kong-listed property developer.
Orix to acquire Next Capital stake in Japan's Ashikaga
Japanese financial group Orix will become the second-largest stakeholder in Ashikaga Holdings, the parent of Ashikaga Bank, providing an exit for Next Capital Partners.
Greater Pacific in $12m part exit from India's Edelweiss
Greater Pacific Capital (GPC) has sold part of its stake in India's Edelweiss Financial Service for INR707 million ($12 million) via an open market transaction.
Singapore payment platform Fastacash secures $4m
Singapore-based payment platform Fastacash has secured a $4 million Series B round of funding from Jagdish Chanrai, principal of Kewalram Chanria Group, and Golden Oriole Investments.
PEP target SAI Global launches sale process
SAI Global, which was recently that subject of a A$1.1 billion ($1 billion takeover bid Pacific Equity Partners, has set up an open bidding process and will publish information for other potential buyers.
Softbank invests in Chinese P2P site Edai
Softbank China Venture Capital (SBCVC) has committed a Series A round of funding for Chinese peer-to-peer lending (P2P) platform Edai.com.
WestBridge leads Series C round for India's Vistaar Finance
WestBridge Capital has led a INR1.6 billion ($27.4 million) Series C round for Indian non-banking financial company (NBFC) Vistaar Finance.
Hony, Tencent buy plots in Qianhai land auction
Hony Capital and Chinese internet giant Tencent Holdings have bought land in Shenzhen’s Qianhai special economic zone for RMB2.19 billion ($351 million).
PE-backed Tongyang Life remains in hunt for Korea's LIG Insurance
Tongyang Life Insurance, a South Korean insurer majority-owned by Vogo Investment, has submitted a binding bid for a controlling stake in LIG Insurance.
RBI panel backs PE to buy up to 40% of distressed Indian banks
A panel appointed by the Reserve Bank of India (RBI) to review banking industry governance has recommended that private equity firms, including sovereign wealth funds, be allowed to buy up to 40% of distressed lenders.
RRJ, Temasek back ING insurance unit
RRJ Capital and Temasek Holdings have agreed to invest EUR1.28 billion ($1.8 billion) in NN Group (NNG), the insurance unit of Dutch lender ING Group.
India's Piramal commits $131m to Shriram City Union Finance
Piramal Enterprises - the flagship business of India healthcare conglomerate Piramal Group - has agreed to buy a 9.99% stake in private equity-backed non-banking finance company (NBFC) Shriram City Union Finance (SCFU) for INR7.89 billion ($130 million).
Lok Capital exits India BPO firm
India-focused VC firm Lok Capital has made a partial exit from Bangalore-based business process outsourcing (BPO) firm, RuralShores, generating a money multiple of 6x.
China encourages PE to provide rural financing
China is encouraging private equity and venture capital firms to participate in rural financing, as a means of supporting rural development and lifting the economy.
PE firms eye Standard Chartered consumer finance unit - report
Bain Capital and The Carlyle Group are said to be among first-round bidders for Standard Chartered's Hong Kong-based consumer finance unit, PrimeCredit.
Au Financiers raises $21m from existing investors
Indian non-banking financial company (NBFC) Au Financiers has raised $21 million from existing shareholders, including the promoters, through a preferential allotment of shares.
Taiwan's CTBC gets approval to buy Tokyo Star Bank
CTBC Financial Holdings - formerly Chinatrust Financial Holdings - has received regulatory approval to buy Tokyo Star Bank from US private equity firm Lone Star and other creditors-turned-shareholders.
Lightspeed bets on financial disruption
Regulation is the primary concern for PE and VC firms considering investments in China’s peer-to-peer (P2P) lending industry. The market opportunity has never really been in doubt. Online P2P lending platforms are a bridge between individual lenders...
India's Ratnakar Bank raises $55m from investors
India's Ratnakar Bank has raised INR3.28 billion ($54.6 million) from a consortium of investors, including CDC Group and Asia Capital & Advisors, in return for a minority stake.
Lightspeed leads Series B round for China P2P lender PPDai
Lightspeed China Partners has led a Series B round of funding for PPDai, which claims to be China’s first and largest peer-to-peer lending (P2P) platform. Other investors include Sequoia Capital and US-listed wealth management firm Noah Holdings.
CDC invests $28m in India's Ratnakar Bank
CDC Group has paid $28 million for a 4.8% stake in India’s Ratnakar Bank, which specializes in lending to small businesses. The bank has been seeking to raise around $60 million ahead of an IPO.
Wolfensohn part exits India's Repco
Wolfensohn Capital has made a partial exit from India Repco Home Finance, a little over a year after it first invested in the company.