Food
Hong Kong’s Lever VC closes food fund at $80m
Hong Kong-based food tech investor Lever VC has reached a final close of $80 million on its debut fund, which launched in August last year with a target of $50 million.
Australia's V2Food gets $53m Series B extension
Australian vegetarian meat brand V2Food has raised A$72 million ($53 million) in a Series B extension featuring Belgium-based impact investor Astanor Ventures.
Creador, NewQuest, TR invest Yum Brands India franchisee
Creador, NewQuest Capital Partners, and TR Capital have co-led an INR11.5 billion ($155 million) investment in Sapphire Foods India, a franchisee operator of US fast food giant Yum Brands.
Indonesia grocery platform HappyFresh closes $65m Series D
Indonesia-based grocery platform HappyFresh has closed a $65 million Series D round led by Korean internet giant Naver and Netherlands-based investor Gafina.
Black Ant, GenBridge lead Series B for China coffee chain
M Stand - a China-based coffee shop chain with ambitions to become the Starbucks for China's younger generation - has raised RMB500 million ($77 million) in Series B funding led by Black Ant Capital and GenBridge Capital.
GGV, Tiger Global lead $50m round for China bakery brand
Tiger Attitude, a China-based bakery brand, has raised a $50 million Series A round led by GGV Capital and Tiger Global. Both IDG Capital and Sequoia Capital China re-upped, having participated in a pre-Series A in January alongside Challenjers Capital.
Singapore’s Next Gen gets $20m for US push
Singapore’s Next Gen Foods, which markets the vegetarian chicken brand Tindle, has raised $20 million from VCs including GGV Capital, with a view to entering the US.
Korea's Kurly raises $200m, targets domestic listing
Korean grocery delivery platform operator Kurly has raised a $200 million Series F round at a valuation of $2.2 billion, as plans for a US IPO are scrapped in favor of a local listing.
Velocity hits first close on Southeast Asia travel fund
Velocity Ventures, a Singapore-based VC firm focused on travel and hospitality, has reached a first close on its debut fund. Commitments stand at 40% of the $20 million target.
Investcorp backs Hong Kong's Heritage Foods
Investcorp has made an investment of undisclosed size in Hong Kong-based Heritage Foods, which has a portfolio of condiment and sauce brands in Singapore, Malaysia, and Japan.
Nippon Investment acquires Japan wine brand
Japanese private equity firm Nippon Investment Corporation (NIC) has acquired the local subsidiary of Germany-based winemaker and distributor Pieroth for an undisclosed sum.
Portfolio: Mandala Capital and EFRAC
Mandala Capital is helping Indian food and pharma testing laboratory EFRAC distinguish itself against a field of ragtag competitors. Personnel, networks, and technology are the critical inputs
Creador takes 30% stake in Malaysia tea brand Tealive
Malaysia-based middle-market private equity firm Creador has paid an undisclosed sum for a 30% stake in local tea shop operator Tealive.
Singapore food tech VC raises $25m for debut fund
Good Startup, a food tech VC set up in Singapore last year, has hit a $25 million first close on its debut fund, which will invest exclusively in alternative protein start-ups.
Deal focus: Hahn embarks on Korea dairy turnaround
Beleaguered by a string of scandals and unable to turn the tide of negative publicity, the family owner of Namyang Dairy Products opted to sell to private equity. His first call was to Hahn & Company
Tata buys majority stake in India's BigBasket
Tata Group has acquired a majority stake in India’s BigBasket, an online grocer backed significantly by Alibaba Group and several private equity investors. It has been valued previously at around $2 billion.
Advantage backs Japan coffeeshop chain
Advantage Partners has agreed to invest about JPY7 billion ($64.6 billion) in Tokyo-listed coffeeshop and bakery chain Saint Marc.
Indonesia’s TaniHub secures $65.5m Series B
TaniHub, a platform that connects farmers with customers and other agriculture industry suppliers, has closed a $65.5 million Series B round led by MDI Ventures.
China snack maker Weilong raises $549m, pursues HK IPO
China’s leading spicy snack food company Weilong has raised a $549 million pre-IPO round at a valuation of $9.4 billion and filed for a Hong Kong IPO.
Hong Kong's Lever VC hits $46m fourth close on food fund
Lever VC, a Hong Kong-based food tech investor, has achieved a fourth close of $46 million on its debut fund, claiming 2.3x growth in the value of the portfolio since 2019.
China's Taishan Beer raises $92m
CMC Capital Group has committed RMB600 million ($92 million) in funding to Chinese domestic beer brand Taishan.
Singapore food tech start-up raises $10m seed round
Singapore-based Next Gen, which markets a vegetarian chicken brand called Tindle, has raised $10 million in what is being called the largest-ever seed round in the food tech space.
Everstone exits India bakery business
Everstone Capital has exited Indian bread brand Modern Foods to a local subsidiary of Grupo Bimbo, a global strategic headquartered in Mexico, for an undisclosed sum.
Prosus leads $30m Series C for India agtech start-up
Prosus Ventures, formerly a VC arm of South African media conglomerate Naspers, has led a $30 million Series C round for Indian agricultural technology provider DeHaat.