Fundraising
Healthcare funds: Repeat prescription
An assortment of healthcare-focused GPs – most of them in China – have emerged to leverage rising domestic consumption and nascent medical innovation. Does domain expertise mean better deal access?
NZVIF, Enterprise Angels to invest $14m in NZ start-ups
The New Zealand Venture Investment Fund (NZVIF), a government-sponsored fund-of-funds, and domestic investor Enterprise Angels plan to commit about NZ$20 million ($14.3 million) to local start-ups over the next four years.
China’s Baidu launches $3b technology fund
Chinese search giant Baidu has established a RMB20 billion ($3 billion) investment fund, called Baidu Capital, to target mid- and late-stage deals in the internet industry.
Gopher, Perfect World launch $300m China media M&A fund
Gopher Asset Management, the PE arm of Noah Holdings, has teamed up with Chinese movies-to-gaming company Perfect World to launch a media and culture M&A fund that has a target of RMB2 billion ($300 million).
China's Lenovo launches $500m corporate VC fund
Chinese computer manufacturer Lenovo Group has launched a $500 million corporate VC fund to invest in technology start-ups.
StarVC co-founder launches new China VC fund
Xiaoming Huang, a Chinese actor who co-founded celebrity fund StarVC, has launched a new venture capital firm called Ming Capital.
China’s Qiming to launch US healthcare fund
China-focused GP Qiming Venture Partners is planning to raise a healthcare-dedicated fund in the US that will help China- and US-based start-ups expand in both markets.
China’s GSR Capital raises $1b LED-focused fund
China-based GSR Capital - an affiliate of Go Scale Capital, which saw its bid for Philips' Lumileds business thwarted by regulators - has closed a new $1 billion fund to invest in LED companies globally.
Q&A: Advent International's Filippo de Vecchi
Following the recent closing of Advent International’s eighth global private equity fund at $13 billion, Filippo de Vecchi, the firm’s managing director and co-head of Greater China, explains how Asia fits into the strategy
GGV reaches $1.2b final close on Sino-US VC fund
GGV Capital has closed its latest VC fund at $1.2 billion across three vehicles – a core venture fund, an early stage fund and an entrepreneurs fund – that will target start-ups and growth-stage technology deals in China and the US.
Everbright ReinFore closes debut China fund at $355m
Everbright ReinFore, a China-focused PE firm that spun out from an offshore asset management arm of China Everbright Group, has reached a final close on its debut fund at approximately $355 million across two vehicles.
China Everbright boosts exposure to Haiyin’s cross-border fund
China Everbright has committed an additional $15 million to Haiyin Capital’s latest VC fund, also claiming co-investment rights in the fund's US portfolio companies.
Warburg Pincus seeks $2b for China fund
Warburg Pincus is seeking to raise $2 billion for a new China-dedicated fund, which will make investments in the country alongside its latest $13.4 billion global fund.
PE investors to exit China's Happigo Home Shopping
Hony Capital, CITIC Private Equity and Sequoia Capital are set to exit Happigo Home Shopping, a Shenzhen-listed online and TV shopping subsidiary of Hunan TV.
Shanghai Chengtou commits to Hony's Fund VIII
Shanghai Chengtou Holding, a Shanghai-listed property developer which is also a portfolio company of Hony Capital, has committed RMB400 million ($62 million) to the GP’s latest China fund.
Pfingsten closes Fund V at $382m
Pfingsten Partners, a US-based GP with a presence in China and India that reflects its manufacturing-focused remit, has closed its fifth middle-market fund at $382 million, exceeding the target of $350 million.
Cybernaut China hires ex-IBM executive, launches M&A fund
China-focused PE firm Cybernaut has hired Matt Wang, formerly a vice president at IBM, as president and announced the launch of a RMB60 billion ($9 billion) M&A fund.
Telstra backs Monk's Hill Southeast Asia fund
Australia’s Telstra Ventures has made an LP commitment to Singapore-based Monk's Hill Ventures' debut Southeast Asia fund - which is targeting S$100 million ($80 million) - as part of an ongoing pivot to Asian venture capital.
Markus Ableitinger joins placement agent Pyramid
Markus Ableitinger, formerly an Asia-based managing director with Capital Dynamics, has joined placement agent Pyramid Private Equity Partners as an associate partner. He will continue to focus on Asia.
SAIF seeks $800m for China fund
SAIF Partners is targeting $800 million for its fifth Greater China fund, which will make growth investments in the technology, healthcare and cleantech sectors.
Ex-Khosla partner raises $200m for cross-border tech fund
Andrew Chung, formerly a partner at US-based Khosla Ventures, has launched his own VC firm - 1955 Capital - and reached a first close of $200 million on a cross-border technology fund.
IDG targets $200m for third India fund
IDG Ventures has launched its third India-focused fund, with a target of $200 million.
Japan's Mitsui Fudosan launches VC fund with Global Brain
31 Ventures, a venture capital firm sponsored by Japanese property developer Mitsui Fudosan, has launched a JPY5 billion ($44 million) fund with Global Brain Corporation that will invest in start-ups globally.
Asian pension funds to boost alternatives exposure - survey
Pension funds in Asia Pacific expect to increase their allocations to alternative assets over the next three years as part of efforts to boost returns and cover their liabilities, according to a new survey.