Fundraising
Fund focus: Lightspeed bets on green-tech
Green-tech is the latest big idea being championed by Lightspeed China Partners. It has inspired a change in the firm’s name and it will underpin deployment of the new $920 million fund
Legend hits first close on healthcare fund, launches TMT vehicle
Legend Capital has reached a first close of $177 million on its third US dollar-denominated China healthcare fund. It is one of five vehicles the GP has in the market, including its recently launched ninth flagship technology, media, and telecom (TMT)...
Blume hits $105m first close on fourth India VC fund
Indian venture capital investor Blume Ventures has achieved a first close of $105 million on its fourth fund, exceeding the full amount raised in the previous vintage.
Australia's Five V raises $398m for Fund IV
Five V Capital, a growth-oriented investor in Australia and New Zealand, has achieved a first and final close on its fourth fund with more than A$550 million ($398 million) in commitments.
Australia's Allegro hits overall target with Fund IV first close
Allegro Funds, an Australia-based turnaround specialist, has reached a first close of A$600 million ($449 million) on its fourth fund, hitting the overall target for the vehicle.
India's A91 reaches $550m final close on Fund II
A91 Partners has closed its second India-focused fund with $550 million in commitments, nearly two-and-a-half years after raising $351 million for its debut vehicle.
Hillhouse upsizes growth fund to $5.2b
Hillhouse Investment, the buyout and growth capital unit of Asia-focused Hillhouse Group, has raised $5.2 billion for a growth equity fund, more than twice the original target.
Australia's Quadrant raises $390m for second growth fund
Quadrant Private Equity has closed its second Australia and New Zealand-focused growth capital fund with A$530 million ($390 million) in commitments.
Kedaara surpasses $1b for third India fund
India-focused middle-market private equity firm Kedaara Capital has closed its third fund at just under $1.1 billion, spurred by strong performance from its debut vehicle.
Stellaris closes second India VC fund on $225m
Stellaris Venture Partners has closed its second early-stage India fund on $225 million, comfortably exceeding the $160 million target while diversifying the LP base.
Openspace hits $120m first close on SE Asia growth fund
Southeast Asia-focused Openspace Ventures has reached a first close of $120 million on its debut growth fund, which will primarily participate in follow-on rounds for existing portfolio companies.
China's Vitalbridge reaches $200m first close on Fund II
Vitalbridge Capital, a China-based venture capital firm that spun out from Trustbridge Partners, has achieved a first close of $200 million on its second US dollar-denominated fund.
PAG raises $525m for second China growth fund
PAG has closed its second growth fund, which makes middle-market investments – predominantly in China – that fall below the minimum check size for its pan-Asian vehicle at $525 million.
Navis raises $900m for Fund VIII, closes Fund VI continuation
Navis Capital Partners has closed its eighth regional fund at $900 million, while also securing $450 million for a continuation vehicle that features five companies from its sixth fund.
China's Genesis targets $1.2b for Fund III
Genesis Capital, a China growth-stage technology investor established by Richard Peng, who previously led the investment program at Tencent Holdings, is seeking $1.2 billion for its third US dollar-denominated fund.
Ince hits $450m first close on second China VC fund
Ince Capital, a Chinese venture capital firm established by J.P. Gan, formerly a managing partner at Qiming Venture Partners, has achieved a first close of approximately $450 million on its second fund.
Boyu stands out in weak quarter for private equity fundraising
A quickfire fundraise by Boyu Capital – which saw $6 billion collected across two pools of capital in the space of a few months – accounted for more than one-quarter of all capital committed to Asia-focused private equity managers between April and June....
SOSV raises $100m growth fund
Early-stage investor SOSV – known for accelerator programs such as China-based HAX and Chinaccelerator – has raised $100 million for its first growth fund designed to invest in Series B rounds and beyond.
Eight Roads launches $400m China healthcare fund
Fidelity-backed Eight Roads has launched a China healthcare fund with a corpus of $400 million, which will invest across the industry value chain and in areas related to critical diseases.
China's Oceanpine raises $312m for renminbi hard-tech fund
Chinese technology and healthcare investor Oceanpine Capital has closed its Hardcore Technology Investment Fund on RMB2 billion ($312 million). LPs include government guidance funds and fund-of-funds in Suzhou, where the new vehicle is based.
Ince seeks $450 million for second China VC fund
Ince Capital is preparing to launch its second China venture capital fund with a target of $450 million, less than 18 months after closing its debut vehicle.
Blackstone in $3.1b first close on second Asia PE fund
The Blackstone Group has reached a first close of $3.1 billion on its second dedicated Asia private equity fund, which is already larger than Fund I.
COOs in Asia private equity: Horses for courses
The COO role is gradually becoming more prevalent in Asian private equity, but GPs struggle to find the right combination of financial skills and business acumen. The optimal candidate is often internal