Fundraising
Fund focus: 500 Global scales up in Southeast Asia
By investing early and building a diversified portfolio, 500 Global emerged from the technology valuation corrections somewhat unscathed. This gave the firm impetus when raising its third Southeast Asia fund
Singapore student-run VC programme launches new fund
Protégé Ventures (PV), a student-run venture fund programme set up by the Singapore Management University Institute of Innovation & Entrepreneurship (SMU IIE) has launched a second fund of SGD 500,000 (USD 367,000).
500 Global raises $143m for Southeast Asia
500 Global has raised USD 100m for its third Southeast Asia-focused early-stage fund and USD 43m for a vehicle that will target growth-stage start-ups in the region.
CP Group, LDA Capital launch $2b Southeast Asia fund
Thailand-based conglomerate Charoen Pokphand Group (CP Group) has launched a USD 2bn fund that will focus on high-growth middle-market companies in Southeast Asia.
Fund focus: 3one4’s governance gambit
India’s 3one4 Capital credits a strong governance policy for rising institutional participation in its latest VC fund. Maintaining a global-local balance in the LP base is becoming crucial
Japan Industrial Partners sets $2bn hard cap for Fund VI
Japan Industrial Partners (JIP), the Japanese private equity firm leading the USD 15bn privatisation of Toshiba, has set the hard cap for its latest fund at JPY 300bn (USD 2bn) and secured a six-month extension to the fundraising period.
Australia’s Anacacia targets up to $290m for Fund IV
Australian middle market private equity firm Anacacia Capital is preparing to launch its fourth fund, telling investors that it expects to surpass the AUD 300m (USD 193m) raised for Fund III but would not exceed AUD 450m.
China's TH Capital hits first close on debut US dollar fund
TH Capital, a private equity firm that originated from China's Tsinghua University and was formerly known as Tsinghua Holdings Capital, has completed a USD 60m first close on its debut US dollar-denominated fund.
Fund focus: Forebright relies on its domain expertise
LP allocations to China funds are limited in number and hotly contested. Forebright Capital closed its latest vehicle by emphasising its track record in advanced manufacturing and enterprise software
Centurium scales back China fund target to $1.5b
China-focused private equity firm Centurium Capital is looking to raise USD 1.5bn for its second US dollar-denominated fund, having originally targeted USD 2.5bn in a stop-start process that began more than three years ago.
Fund focus: Growtheum’s Southeast Asia breakthrough
Amit Kunal swapped a sovereign wealth fund for an independent shop at a time when fundraising was becoming difficult. Robust early deal flow helped Growtheum Capital Partners to its USD 567m final close
Forebright raises $502m for third China fund
China-focused Forebright Capital has closed its third fund with USD 502m in commitments. The manager claimed to have spent about a year in the market.
China's ClearVue closes debut blockchain fund on $50m
ClearVue Partners (CVP), a China-focused investor in consumer and technology, has announced a final close of USD 50m on its blockchain technology fund - without adding any capital to the first close 12 months ago.
Growtheum closes debut Southeast Asia fund on $567m
Growtheum Capital Partners, a private equity firm established by the former head of GIC’s direct private equity investment group in Southeast Asia, has closed its debut fund on USD 567m, falling short of the USD 750m target set in early 2022.
CVC passes $4.4b on latest Asia fundraise
CVC Capital Partners has hit the USD 4.45bn mark on its sixth pan-Asian fund, following a first close of USD 3.5bn at the end of last year.
Gobi reaches $256m target for Greater Bay Area fund
Gobi Partners has reached its HKD 2bn (USD 256m) target for AEF Greater Bay Area (GBA) Fund, the successor to Alibaba Hong Kong Entrepreneurs Fund, according to Chibo Tang, a managing partner with the firm.
Japan's Endeavour United closes Fund III on $370m
Japanese middle market private equity firm Endeavour United has closed its third fund with JPY 53bn (USD 370m) in commitments, a two-thirds increase in size on the previous vintage.
Longreach targets $800m for Japan, Greater China mandate
The Longreach Group is looking to raise USD 800m for its fourth fund, which will continue the firm’s existing strategy of mid-market control deals in North Asia with an emphasis on Japan.
MBK launches sixth North Asia fund, targets $7b
North Asia-focused buyout firm MBK Partners has set a target of USD 7bn for its sixth flagship fund, according to three sources familiar with the situation.
5Y seeks $700m for latest China VC fund
China-focused 5Y Capital has set a target of USD 700m for its latest venture capital fund – in line with what the manager raised in the previous vintage.
Korea’s UCK Partners surpasses $770m on Fund III
UCK Partners, a South Korean private equity firm formerly known as Unison Capital Korea, has accumulated approximately KRW 1trn (USD 777m) across two incremental closes on its third fund.
Fund focus: Eurazeo’s climate thesis resonates with LPs
Eurazeo shattered the target for its second smart city fund thanks to an agenda that dovetails with LP interest in decarbonisation. Nine Asian LPs backed the fund and 35% of the corpus will be deployed in the region
Frontier market fundraising: Roads less travelled
As fundraising slows globally, GPs in frontier markets are more dependent than ever on multilateral development banks. That’s not a major problem now, but in a long downturn, it could become one