Fundraising
Black River PE team goes solo as part of Cargill spin-out
The private equity team of Black River Asset Management, an independently managed alternative investment unit of agribusiness giant Cargill, has spun out to form Proterra Investment Partners.
Qiming closes fifth China VC fund at $648m – update
Qiming Venture Partners has announced that it has closed its fifth US dollar-denominated China VC fund at $648 million.
China's Innovation Works seeks $250m for Fund III
China-based early-stage investor Innovation Works, which was founded by former Google China head Kai-Fu Lee, is looking to raise $250 million for its third fund.
Principle targets $350m for China fund
Principle Capital, a Chinese private equity firm that has previously raised around RMB4 billion ($608 million) for renminbi-denominated funds, is targeting $350 million for its debut US dollar vehicle.
Monument promotes Niklas Amundsson to partner
Niklas Amundsson, who joined Monument Group from MVision last year as managing director of the firm’s Hong Kong office, has been promoted to partner.
Asia PE returns will rise as GP skills develop
Distributions from private equity funds in Asia, which have in the past been lackluster compared to those in certain developed markets, are expected to rise as the industry matures and GPs develop their skill sets.
Hony reaches $1.25b mark on latest China fund
Hony Capital has reached a first close of $1 billion on its new Greater China-focused fund and raised an additional $250 million towards a second close.
NZVIF, Taiwan's NDF to anchor another VC fund
New Zealand Venture Investment Fund (NZVIF) and Taiwan’s National Development Fund (NDF) will each commit $7.5 million to a cross-border technology-focused fund.
Hong Kong's Future Fund: Securing the future
Hong Kong’s new Future Fund has initial capital of $28 billion and a remit to invest aggressively in alternatives. To understand its approach, one must understand the Hong Kong Monetary Authority
China Cocoon Network launches $720m European tech fund
London-based Cocoon Networks, which is backed private equity firms China Equity Group and Hanxin Capital, has launched a GBP500 million ($720 million) venture fund to invest in UK and European technology start-ups.
Hong Kong to launch $256m fund to invest alongside VCs
The Hong Kong government will create a HK$2 billion ($256 million) fund that will co-invest in start-ups alongside venture capital funds on a matching basis. It is one of a number of initiatives intended to bolster innovation and technology in the territory.
DBJ, Japan Wind Development to form $423m fund
The Development Bank of Japan (DBJ) and Japan Wind Development (JWD) – a local developer acquired last year by Bain Capital – have agreed to launch a JPY50 billion ($424 million) wind power fund.
Germany's Evonik backs China VC fund
Evonik Venture Capital, the VC arm of German industrial group Evonik, has invested an undisclosed amount in Chinese VC firm GRC Managers' SinoGreen Fund III (GRC III).
Mandarin closes second Sino-European fund at $217m
Sino-European GP Mandarin Capital Partners have closed its second middle-market fund at just under EUR200 million ($217 million).
Abax raises $235m for Asia special situations fund
Abax Global Capital has raised $235 million for its second Asia special situations fund, which has a strong focus on China.
India's ChrysCapital reaches $350m first close on Fund VII
ChrysCapital has reached a first close of nearly $350 million on its seventh India fund. The vehicle, which launched last September, has an overall target of $600 million and a hard cap of $650 million.
4Q analysis: Ending with a whimper
4Q analysis: Bain Capital and PAG shine in a difficult fundraising environment; large-ticket infrastructure and tech deals offer pointers for 2016; public market volatility continues to hamper PE exits
GPs on China's New Third Board: Public market oddity
A dozen Chinese private equity firms have been listed on the New Third Board in recent years, but the model is far removed from that seen in other markets and regulators are concerned
Beijing suspends domestic PE registrations
The Beijing government has suspended domestic private equity investment registrations in relation to suspected illegal fundraising.
Taiwan ITRI, Japan’s Mitsubishi UFJ launch VC fund
Taiwan’s Industrial Technology Research Institute (ITRI) and Japan’s Mitsubishi UFJ Financial Group have jointly set up a second venture capital fund with a target of NT$2.5 billion ($75 million).
Orion, BNP form Asia alternatives partnership
BNP Paribas will take a minority stake in a newly-established partnership with Asia-based private equity and real estate player Orion Partners. They plan to launch funds together to meet growing client demand for exposure to alternatives in the region.
GP communication strategies: Clearing the air
Communication strategies are becoming more important within PE as expectations for transparency grow. GPs must demonstrate an ability to maintain the trust of a range of stakeholders, not just LPs
PAG closes second Asia fund at $3.66b - update
PAG Asia Capital has reached a first and final close on its second fund at $3.66 billion. The vehicle, which had an initial target of $3 billion, spent less than eight months in the market.
Japan’s Skyland raises $10m VC fund
Tokyo-based early-stage investor Skyland Ventures has raised JYP1.2 billion ($10 million) for its second VC fund.