Fundraising
AIGF closes second ASEAN fund on $127m
AIGF Advisors, a private equity firm sponsored by Japan’s Mitsubishi Corporation, has closed its second ASEAN-focused fund with JPY 17.3bn (USD 127m) in commitments.
LPs emphasize differentiation in China venture capital
LPs want to back Chinese venture capital firms that are differentiated from their peers, although there remains an element of discomfort with efforts to achieve this through increasingly popular China-plus strategies.
Fundamentum raises $227m for India growth-stage tech fund
The Fundamentum Partnership, an India-based growth-stage technology investment firm established by Infosys co-founder Nandan Nilekani and Helion Venture Partners co-founder Sanjeev Aggarwal, has closed its second fund on USD 227m.
Taiwan’s Cherubic closes $110m VC fund
Cherubic Ventures, which makes early-stage investments in Asia and the US, has closed its fifth fund with USD 110m in commitments. Total assets under management now exceed USD 400m.
CPPIB puts $236m into Asia co-investments in second quarter
Canada Pension Plan Investment Board (CPPIB) defied the recent slowdown in Asia private equity investment to deploy more than CAD 300m (USD 236m) across five deals alongside portfolio GPs between April and June.
Hong Kong's Gly Capital closes debut mobility fund
Gly Capital Management, which is majorly owned by a Chinese automaker, tapped external investors for the first time in raising USD 163m for global investments in smart cities and smart cars
Fund focus: Insignia takes two months to scale up
Insignia Venture Partners received subscriptions to its third fund amounting to twice the size of the final corpus, underlining the appeal of Southeast Asia. The GP is keen to leverage China’s talent exodus
New Zealand's GreenMount seeks $69m for co-investment fund
GreenMount Capital, an investment unit of New Zealand-based GreenMount Advisory, is looking to raise up to NZD 100m (USD 69.2m) for its debut private equity co-investment fund that will participate in deals in Australia and New Zealand.
Bain targets $5b for fifth Asia fund
Bain Capital has launched its fifth Asia-focused private equity fund with a target of USD 5bn. It comes a couple of months after the firm closed its latest regional special situations vehicle on USD 2bn.
Seed platforms: Fishing minnows from ocean liners
Accelerators and seed investors are increasingly pursuing global mandates and building out large, international teams. The challenges are starting to cast shadows over the benefits, but it’s early days
Insignia raises $516m for latest Southeast Asia vintage
Insignia Venture Partners has raised USD 516m for its third Southeast Asia fund, comprising USD 388m for a core venture vehicle, an accompanying entrepreneurs’ pool of USD 28m, and a USD 100m annex fund.
LPs worried by rising fund sizes in Southeast Asia - AVCJ Forum
LPs are encouraged by Southeast Asia’s fast-developing private equity ecosystem, but they are concerned that increases in fund sizes are outstripping that of the addressable market, the AVCJ Southeast Asia Forum heard.
China's ClearVue targets $100m for blockchain fund
ClearVue Partners, a China-focused investor in consumer and technology, has reached a first close of USD 50m on a fund dedicated to digital assets related to decentralised finance (defi) services and bridging web2 and web3 operating models.
KKR seeks up to $1.5b for Asia tech fund
KKR has launched its debut Asia-focused technology growth fund, two-and-a-half years after first indicating it would add this strategy in the region.
Bertelsmann spinout BAI Capital closes $700m China fund
BAI Capital, formerly Bertelsmann Asia Investments, a captive unit of the eponymous German media company, has closed its debut China fund on approximately USD 700m.
India's Axilor targets $100m for second seed fund
Indian seed investor Axilor Ventures has launched its second fund with a target of USD 100m. This compares to USD 30m for its first fund.
Qiming raises $3.2b across dollar, renminbi funds
China-focused VC firm Qiming Venture Partners has closed its eighth US dollar-denominated fund at the hard cap of USD 2.5bn – more than twice the size of the previous vintage – and raised CNY 4.7bn (USD 701m) for its latest renminbi vehicle.
Japan's Sumitomo Mitsui commits $1.5bn to Apollo
Japan’s Sumitomo Mitsui Trust Holdings has signed up to an alternatives co-investment program run by Apollo Global Management, taking the total capital raised from Asia-based LPs to more than USD 5bn.
Sequoia raises $8.8b for China funds
Sequoia Capital has hit the hard cap on each of the four funds in its latest China vintage, accumulating USD 8.8bn for deployment in seed through late-growth rounds.
Joy sets modest target for China VC fund - update
Beijing-based Joy Capital has set a lower target for its latest US dollar-denominated fund than in the previous vintage and decided against raising a second accompanying growth vehicle.
Panthera hits first close on India, Southeast Asia fund
India and Southeast Asia-focused Panthera Growth Partners has reached a first close on its second fund with commitments amounting to more than half the overall target of USD 250m.
Fund focus: LGT eyes a buying opportunity
As LGT Capital Partners starts deploying its USD 1.65bn Asia fund-of-funds, it hopes that rationalising valuations and some consolidation of GP relationships will contribute to a strong vintage
Fund focus: Re-ups underpin FountainVest's Fund IV close
Despite headwinds that have afflicted all China-focused managers, FountainVest Partners closed its fourth fund just above target on USD 2.9bn. One-third of the corpus has already been deployed