Fundraising
India's Next Orbit seeks $750m for VC fund
India-based Next Orbit Ventures (NOV) is targeting $750 million for its second fund, which will target the electronics systems design and management.
Indian government plans $1b renewables fund
The Indian government wants to raise a $1 billion private equity fund focused on renewable energy, according to Piyush Goyal, minister responsible for power, coal and renewable energy.
China Communications, NSSF set up infrastructure fund
China Communications Construction Company (CCCC) and the National Council for Social Security Fund (NSSF) have established a RMB15 billion ($2.3 billion) infrastructure fund.
Ping An, Adamas launch $500m China SME-focused fund
Adamas Asset Management and Ping An Trust have launched a joint venture fund with a target of $500 million to invest in growth-focused Chinese small and medium enterprises (SMEs).
Northstar closes PE fund at $810m, VC fund at $89m
Northstar Group has reached a final close of $810 million on its fourth fund, which targets Southeast Asia, with a particular focus on Indonesia. Meanwhile, the firm’s VC unit, NSI Ventures, has closed its debut fund at $89 million.
Japan Post Bank to launch private equity division
Japan Post Bank, a unit of the recently-privatized Japan Post Holdings, will create a division to explore private equity investment opportunities.
Warburg Pincus closes latest global fund at $12b hard cap
Warburg Pincus has closed its latest global fund, which will seek investments in companies at all stages of development, at the hard cap of $12 billion.
Alibaba picks Gobi, CDIB to run HK, Taiwan entrepreneur funds
Alibaba Group has officially launched its entrepreneur funds - worth a collective $450 million - in Hong Kong and Taiwan, picking Gobi Partners and China Development Industrial Bank (CDIB) to manage the vehicles in those respective markets.
Ameba Capital closes second China VC fund at $157m
Ameba Capital, an early-stage VC firm co-founded by former executives from Alibaba Group and Kingsoft, has closed its second renminbi-denominated fund at RMB1 billion ($157 million).
Taiwan’s CDIB Capital launches cross-strait VC fund
CDIB Capital, the PE arm of Taiwan’s China Development Financial (CDF), is raising a later-stage venture fund to focus on cross-strait expansion.
Lakeshore closes first Thailand fund at $60m
Lakeshore Capital Asia has closed its first Thailand-focused fund - one of the few such vehicles, if not the only fully institutional player - at $60 million.
Taiwan VC: Marginal gains
Taiwan’s government has announced a slew of measures to encourage global venture capital funds to invest in local start-ups. Is it doing enough to create a robust VC ecosystem?
Tiantu Capital to list on China’s New Third Board
China consumer-focused GP Tiantu Capital has been approved to list on the National Equities Exchange and Quotation (NEEQ), also known as the New Third Board. It has raised a total of RMB2.68 billion ($420 million).
Morrison & Foerster hires fund formation lawyer from Proskauer
Morrison & Foerster has hired Jason Nelms as a Hong Kong-based partner in its global fund formation practice. He joins from Proskauer in New York.
Lyfe Capital closes debut China healthcare fund at $298m
Shanghai-based healthcare-focused PE firm Lyfe Capital has closed its debut China fund at $298 million.
Rakuten launches $100m fund for global fintech investments
Japanese e-commerce giant Rakuten has launched a $100 million fund for investments in financial technology start-ups worldwide.
Sequoia, Medtronic establish China medical technology fund
Sequoia Capital has partnered with global medical equipment manufacturer Medtronic to form a China-focused medical technology investment fund worth $60 million.
Formation 8's Brian Koo launches Asia-focused VC firm
Brian Koo, co-founder of Formation 8, has launched a new venture capital firm that will invest in a smaller portfolio of Asia-focused companies with a view to accelerating growth through deep operational involvement.
Vertex launches $200m captive fund for SE Asia, India
Vertex Venture Holdings, the VC arm of Singapore-based Temasek Holdings, has launched a $200 million captive fund for investments in India and Southeast Asia.
CITIC Capital to list on China’s New Third Board
Chinese alternative investment firm CITIC Capital Holdings is seeking to list on the National Equities Exchange and Quotation (NEEQ), also known as the New Third Board.
Placement agent First Avenue opens Hong Kong office
Private placement agent and advisory firm First Avenue has opened an office in Hong Kong. It will be led by Michael Henningsen, previously a managing director at Park Hill Group.
Family office fundraising: Face to face
Dealing with a family office can be uniquely challenging for GPs. Managers who want success have to be able to handle the unique dynamics of this situation
Evergreen funds: The long hold
The notion of patient or permanent capital draws interest from both GPs and LPs, but evergreen funds are rare in the US and even rarer in Asia. This state of affairs is unlikely to change any time soon
Placement agent Eaton agrees sale to Stifel
Placement agent and advisory firm Eaton Partners has agreed to be acquired by Stifel Financial Corp, a US-listed financial services holding company with a strong presence in investment banking and wealth management.