Growth capital
China flexible display developer Royole raises $58m
Royole Corporation, a China-based flexible display technology developer, has received RMB400 million ($58 million) in Series D funding from a domestic GP Beijing Zhongtai Chuanghui Equity Investment Fund.
Deal focus: WuXi NextCode eyes mass-market genomics
By acquiring NextCode Health in 2015, WuXi Pharmatech combined its gene sequencing capabilities with one of the world's largest genome datasets. PE investors are backing the business to sell genomic testing services to Chinese patients
CMB PE unit leads round for Shanghai pop group developer
Shanghai Star48 Culture & Media, a media agency that developed Chinese female pop group SNH48, has raised a Series C round of funding led by CMB International Capital, a private equity unit of China Merchants Bank.
CDIB Capital backs World Gym Taiwan
CDIB Capital, the PE arm of Taiwan's China Development Financial, has acquired a minority stake in World Gym Taiwan, the largest fitness center chain in Taiwan, alongside several co-investors. Financial terms were not disclosed.
IFC proposes $40m investment in India's Aavas Financiers
The International Finance Corporation (IFC) is considering an investment of up to $40 million in debt in Aavas Financiers, a housing finance business that Partners Group and Kedaara Capital bought last year from non-banking financial company (NBFC) Au...
Sequoia, Banyan lead $51m round for China’s Xiaodian
Sequoia Capital China and Banyan Capital have led a RMB350 million ($51 million) Series B round of funding for Xiaodian, a Beijing-based power bank rental company.
Singapore’s Garena rebrands as Sea, raises $550 million
Singapore-headquartered mobile internet and gaming platform Garena has rebranded as Sea and raised $550 million from a group of investors including existing backer Global Digital Prima (GDP) Venture of Indonesia.
Iron Pillar reaches $20m first close on debut fund
Indian venture capital firm Iron Pillar Capital Management has reached a first close of INR1.3 billion ($20 million) on its debut India fund.
Tencent leads $34m round for VC-backed cloud player
Tencent Holding has led a RMB235 million ($34 million) funding round for Transwarp Technology, a Chinese big data technology developer backed by a string of venture capital investors.
India's Ola raises $104m
Indian ride-hailing operator Ola has raised INR6.7 billion ($104 million) from Falcon Edge Capital and RNT Capital Advisors, a VC fund backed by Ratan Tata, chairman emeritus of the company that controls Tata Group.
TPG to invest $50m in India's Dodla Dairy, Proterra to exit
TPG Capital’s growth investment arm has agreed to pay $50 million for a significant minority stake in Indian dairy firm Dodla Dairy. AVCJ understands the deal will provide a full exit for Proterra Investment Partners.
Clairvest commits $74m to India game developer
Canadian private equity firm Clairvest Group has invested $73.7 million in Indian online game developer Head InfoTech.
Temasek, Yunfeng lead $75m round for contract genomics player
Temasek Holdings and Chinese PE firm Yunfeng Capital have jointly led a $75 million Series B round for Wuxi NextCode, a genome sequencing analysis subsidiary of China-based contract research organization (CRO) WuXi PharmaTech.
China ride-hailing app operator Didi raises $5.5b
Chinese ride-hailing app operator Didi Chuxing, which is backed by an assortment of private equity and strategic investors, has raised $5.5 billion in a fresh round of funding.
South Korea's Ticket Monster raises $115m
Ticket Monster, a PE-backed e-commerce operator based in South Korea, has received a $115 million investment aimed at expanding its grocery shopping and travel services businesses.
Singapore government launches $716m PE fund
The Singapore government and domestic GP Makara Capital have launched a S$1 billion ($716 million) private equity fund that will focus on intellectual property (IP)-driven companies.
Oriza Seed leads $25m Series A for Shanghai biotech firm
Oriza Seed Venture Capital, an early-stage and growth-stage investment unit under China’s Oriza Holdings, has led a $25 million Series A round for EpimAb Biotherapeutics, a Shanghai-based biopharmaceutical firm.
Ant Financial invests in VC-backed bike-sharing service Ofo
Ofo, a Chinese bike-sharing company that completed its $450 million Series D round of funding less than two months ago, has received a strategic investment of undisclosed size from Ant Financial, Alibaba Group’s financial services affiliate.
China AI specialist Sense Time gets $60m from Sailing
Sailing Capital has provided $60 million in Series C funding to artificial intelligence (AI) and deep learning technology start-up Sense Time, less than six months after the Beijing-based company announced its previous round.
Antony Leung's New Frontier backs Shenzhen medical group
New Frontier, a private equity firm co-founded by Antony Leung (pictured), formerly Hong Kong's financial secretary, has invested in Best Unimed Medical Group, a Shenzhen-based third-party physicians group.
IFC proposes $100m investment in China insurance firm
The International Finance Corporation (IFC), the investment arm of the World Bank, is considering an equity investment of up to RMB690 million ($100 million) in Chinese insurance firm Union Life Insurance.
Haiyin Capital, NCET2 form Sino-US VC fund
China's Haiyin Capital and the US-based National Council of Entrepreneurial Tech Transfer (NCET2) have jointly launched a VC fund to provide capital to start-ups formed at American universities.
KWAP joins investor roster for SE Asia telecom spin-out
Malaysia’s public sector pension fund, KWAP, has joined Innovation Network Corporation of Japan (INCJ) and Khazanah Nasional in backing the spin-out of an infrastructure unit of Southeast Asian telecom company Axiata.
Ex-KPCB China executive Wei Zhou launches new VC firm
Wei Zhou (pictured), formerly a managing partner at KPCB China, has launched a new VC firm – China Creation Ventures – and closed his debut renminbi-denominated fund at RMB1.5 billion ($220 million).