Growth capital
China Life, Baidu launch $1b tech PE fund
China Life Insurance Group and internet search giant Baidu have agreed to form a RMB7 billion ($1 billion) private equity fund to invest in technology companies.
China’s VIPKid raises $200m Series D
VIPKid, a China-based English-language learning platform backed by VC investors, has completed a $200 million Series D round of funding, in what the company claims is the largest investment in the K-12 education space globally.
Warburg Pincus backs China-based HR tool developer
Warburg Pincus has led an extended Series B round worth RMB130 million ($19 million) for GaiaWorks, a China-based software-as-a-service provider of workforce management solutions, with participation from Matrix Partners China and Genesis Capital.
Crescendo Equity, Lindman back Korean software developer Hancom
Hancom, a South Korea-listed software developer, has raised KRW60 billion ($53 million) from two private equity firms.
CDH to invest in US housewares maker SharkNinja
China-focused private equity firm CDH Investments has agreed to invest in US-based SharkNinja, taking a significant stake in the small home appliances supplier for an undisclosed sum.
Alibaba leads $1.1b round for Indonesia’s Tokopedia
Tokopedia, a venture capital-backed online marketplace in Indonesia, has received a $1.1 billion funding round led by Alibaba Group that will see the Chinese e-commerce giant become a minority stakeholder.
Gobi reaches $50m first close on Southeast Asia fund
Gobi Partners, a Shanghai-based venture capital investor focused on China and Southeast Asia, has reached a first close of $50 million on its latest Southeast Asia fund.
GPs in $90m round for China’s IMS New Media Group
IMS New Media Group, a Chinese social media marketing firm, has raised a RMB600 million ($90 million) Series C round of funding across two tranches, with participation by SAIF Partners, Morgan Stanley, and social media platform Sina Weibo.
H Capital leads $150m round for China’s Zuoyebang
H Capital has led a $150 million Series C round of funding for Zuoyebang, a K-12 focused education mobile app that spun out from Chinese online search engine Baidu.
Mekong commits $4.9m to Vietnam education provider
Mekong Capital has invested $4.9 million for a minority stake in Yola, a Vietnam-based education services provider specializing in overseas test preparation and English language training.
Chinese GPs back sports marketing player Mailman
Mailman, a sports-focused digital marketing agency in Shanghai, has completed an extended Series A round of funding worth $3 million from Yao Capital and Kaixing Capital.
Lilly Asia closes healthcare fund at $450m hard cap
China-focused Lilly Asia Ventures (LAV) has closed its fourth healthcare-focused fund at the hard cap of $450 million.
GPs commit $110m to PCCW's video streaming unit
Hony Capital, Foxconn Ventures and Temasek Holdings have agreed to acquire a combined 18% stake in PCCW International OTT, a video-streaming subsidiary of Hong Kong telecom giant PCCW, for $110 million.
SoftBank invests $2.5b in India's Flipkart
Japanese technology conglomerate SoftBank Group has invested $2.5 billion in Indian e-commerce giant Flipkart through the acquisition of primary and secondary shares.
India's EM3 AgriServices gets $10m Series B
EM3 AgriServices, a venture capital-backed equipment and operational support provider for the Indian farming industry, has raised a $10 million Series B funding round.
China's PE-backed UrWork receives $178m investment
UrWork, a Chinese co-working space operator with a number of private equity backers, has received $178 million as part of a pre-Series C funding round led by a group of strategic investors.
China’s Gu Sheng Tang raises $150m in equity, debt funding
Gu Sheng Tang, a traditional Chinese medicine (TCM) clinic chain, has raised RMB1.01 billion ($150 million) in a Series D round comprising RMB510 million in equity and RMB500 million in debt.
Alibaba's Tmall leads $300m round for PE-backed Yiguo
Tmall, Alibaba Group’s B2C e-commerce unit, has led a $300 million Series D round for Yiguo.com, a PE-backed Chinese grocery shopping platform. This is the fourth time an Alibaba entity has invested in the company.
India's VC-backed Mobikwik attracts $35m investment
Indian non-banking financial company (NBFC) Bajaj Finance has agreed to invest about INR2.2 billion ($35.3 million) in Mobikwik, a domestic mobile wallet developer backed by a number of venture capital firms including Sequoia Capital.
Goldman backs China food delivery platform Meican
Goldman Sachs Investment Partners has participated in a Series D round of funding for Meican.com, a Chinese online food delivery services platform that targets the corporate market.
TA to buy stake in New Zealand's Fisher Funds
TA Associates will take a minority stake in Fisher Funds, New Zealand’s fifth-largest fund manager, following a move by The TSB Community Trust to assume full ownership of the business.
GIC leads $220m Series D for China’s Dianrong
Chinese peer-to-peer (P2P) lending platform Dianrong.com has raised a $220 million Series D round led by Singapore’s GIC Private.
Creador invests in Malaysian bakery chain
Creador has invested MYR57 million ($13.3 million) in Bake With Yen (BWY), a Malaysian baking and confectionery ingredients supplier.
Warburg Pincus to buy stake in Chinese mutual fund business
Warburg Pincus is set to acquire Société Générale's (SocGen) 49% interest in Fortune SG Asset Management, a Sino-foreign mutual fund joint venture with China’s Baosteel Group.