Fundraising
Northstar raises $590m for fifth Southeast Asia fund
Northstar Group has closed its fifth Southeast Asia-focused fund with $590 million in commitments. The target was $800 million.
NewQuest set for TPG windfall if Fund V hits $1.75b
The management team of Asia secondaries specialist NewQuest Capital Partners stands to receive a $10 million payout if the firm raises $1.75 billion for its fifth fund, as part of TPG’s acquisition agreement.
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...
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.