Growth capital
China bubble tea chain Naixuecha raises Series C
Naixuecha, a China-based bubble tea chain that also goes by the name Nayuki, has raised a Series C funding round led by PAG.
GIC leads $203m investment in Vietnam hospital
A GIC-led consortium has agreed to invest VND4.7 trillion ($203 million) in Vinmec, a leading Vietnamese hospital developer and operator.
China's Zuoyebang gets $1.6b Series E extension
Zuoyebang, which claims to be China’s largest online education company, has secured $1.6 billion in an extended Series E funding round that features Alibaba Group as a new investor.
DCP, CPE make $300m China data center play
DCP Capital Partners and CPE – formerly CITIC Private Equity – have led a $300 million investment in Hotwon Group, a Chinese cloud computing infrastructure services provider.
Sinovation's consulting unit hits $1b valuation with Series C
AInnovation, an artificial intelligence (AI) consulting business established by Sinovation Ventures, has joined the ranks of China’s AI unicorns following a Series C round of funding.
CVC backs Philippines logistics provider
CVC Capital Partners has invested an undisclosed sum in The Fast Group, which claims to be the largest third-party logistics provider in the Philippines.
Government funds back Chinese online grocer Miss Fresh
Chinese online grocer Miss Fresh has raised RMB2 billion ($305 million) from three Qingdao government-related funds to support expansion in the city on China's eastern seaboard.
India's PhonePe spins out from Flipkart, raises $700m
PhonePe, the digital payments platform of Indian e-commerce marketplace Flipkart, has been spun out as a stand-alone entity and raised $700 million in funding at a post-money valuation of $5.5 billion.
Chinese EV maker Hozon raises $305m
Zhengjiang-based Electronic Vehicle (EV) start-up Hozon Auto has raised RMB2 billion ($305 million) from Huading Capital, a specialist EV investor.
Deal focus: PingCap puts its head in the cloud
Real-time analytical support and limitless scale underpin the rise of Chinese cloud database provider PingCap. Will it be part of a new breed of local enterprise software giants?
Chinese noodle shop chain raises $68m Series D
Hefu Noodle, a Chinese noodle restaurant chain, has raised a RMB450 million ($68 million) Series D round co-led by Tencent Holdings and Longfor Capital, an investment unit of Hong Kong-listed property developer Longfor Group.
Aavishkaar, Circulate invest $18m in Indian recycling company
Aavishkaar Capital and Circulate Capital have invested a combined $18 million in Indian waste recovery and recycling business Nepra.
Asia consumer & technology: Multifarious merchants
Technology is changing the way consumers interact with retailers both concrete and virtual. Ramping up the sociability factor has become a priority amid increasingly pervasive mechanization
Goldman invests $150m in India biosimilars business
Goldman Sachs has invested INR11.2 billion ($150 million) in Biocon Biologics, the biosimilars business of Indian pharmaceuticals manufacturer Biocon, at a post-money valuation of $3.94 billion.
Asia consumer: Sale of the century
The traditionally slow-changing retail sector received an unexpected incentive to smarten up quickly this year. When the dust settles, shopping will never be the same again
Hillhouse, Boyu, CareCapital back condom maker
Chinese private equity firms Hillhouse Capital, Boyu Capital and CareCapital Partners, a specialist dental and consumer health investor, have paid $200 million for a 40% stake in condom brand LifeStyles.
Deal focus: Proterra whisks Asia supply chain for Eat Just
With China consuming more eggs per capita than its Western peers, Proterra Investment Partners sees strong growth potential for plant-based substitute Just Egg. The GP has committed $100 million to an Asia supply chain roll-out
China EV maker Enovate raises $742m
Enovate, a Chinese new energy vehicle manufacturer, has raised RMB5 billion ($742 million) in a funding round led by local government industry guidance funds and state-owned banks.
3Q analysis: Guarded reengagement
Fundraising focus shifts to China venture, but it’s the same polarization story; upturn in trade and secondary sales suggests the COVID-19 freeze is thawing; healthcare retains its investment appeal
Walmart, Flipkart re-up in India's Ninjacart
US retailer Walmart and Flipkart, its India-based e-commerce platform, have made an additional investment in local fresh produce delivery business Ninjacart.
China healthcare SaaS player Taimei raises $176m
Taimei Technology, a Chinese cloud-based software provider that serves the healthcare sector has raised RMB1.2 billion ($176 million) in funding led by Tencent Holdings, GL Ventures and Yunfeng Capital.
Ascendent invests $500m in Chinese supermarket retailer
Ascendent Capital Partners has made by far its largest investment to date, committing $500 million to Chinese supermarket retailer Wumart ahead of a planned Hong Kong IPO.
Iron Pillar leads Series C for Indian after-sales service player
Iron Pillar has led a $23 million Series C round of funding for Servify, an India-headquartered start-up that integrates parties involved in smart device retail with a view to improving customer service experience.
India gaming platform secures $90m Series C
SIG Asia, RTP Global, MDI Ventures and Pegasus Tech Ventures have led a $90 million Series C round for Mobile Premier League (MPL), an India-based mobile gaming platform.