Growth capital
China middle market: Filling the void
A clutch of China GPs now manage funds of $1 billion or more, leaving the traditional middle market space underserved. Those that remain must convince LPs they can deal with a changing opportunity set
Changing China: Economics and private equity
The phrase "new normal" has been used so frequently with regard to China’s economy in recent years that one wonders when it might reach its sell-by date.
GGV closes $457m China top-up fund
GGV Capital has raised a $457 million top-up fund for follow-on investments in existing portfolio companies.
Tiantu leads $29m round for online grocery platform FreshMart
China consumer-focused GP Tiantu Capital has led a RMB180 million ($29 million) funding round for Chinese online grocery service FreshMarket.
Trustbridge, Foxconn, JD.com back Chinese tablet maker
Trustbridge Partners has led a RMB100 million ($16 million) Series A round of funding for Jide Technology, a Chinese manufacturer of tablets running the Android operating system (OS).
KKR bets on rising Chinese demand for premium chicken
KKR is betting that increasing the supply of safe, high quality chicken in China will stir nascent demand for the product – essentially following in the footsteps of the dairy industry and the PE firm’s previous investment in China Modern Dairy.
Alibaba, Yunfeng back China’s YTO Express
Alibaba Group has teamed up with Yunfeng Capital to acquire a minority stake in Shanghai YTO Express, a Chinese logistics service provider. Financial terms were not disclosed.
CLSA backs Japanese food and beverage maker
CLSA Capital Partners have invested an undisclosed sum in Asamiya, a Japanese low-cost food and beverage (F&B) manufacturer.
Chinese face recognition start-up raises $25m
Face++, a Chinese producer of facial recognition software, has raised $25 million from unnamed investors as part of its Series B round.
China’s BeiGene raises $97m from PE investors
BeiGene, a Chinese company that develops drugs to combat cancer, has raised RMB600 million ($97 million) in a funding round led by existing investors Hillhouse Capital and an undisclosed US-based life sciences-focused public investment fund.
SCPE invests in TT Internationals Indonesia business
Standard Chartered Private Equity (SCPE) has invested $42 million in Singapore-based TT International's (TTI) retail electronics business in Indonesia.
Taiwan's JHL Biotech raises $45m in Series C round
Taiwan-based biopharmaceutical company JHL Biotech has raised a $45 million Series C round, led by an unnamed investor. Existing backer Milestone Capital also participated, along with newcomers Sungent BioVenture and Liwick Investment Management.
China’s Yunfeng, Wanda back sports entertainment business
Yunfeng Capital and conglomerate Dalian Wanda Group have led a Series A round of funding worth RMB800 million ($129 million) for LeTV Sports, a Chinese sports channel.
ICG invests in Korean tutoring business
Intermediate Capital Group (ICG) has invested an undisclosed sum in Time Education, a privately-owned education company in Korea that provides tutoring services from kindergarten through high school.
Mandala commits $15m to India's Godavari Biorefineries
Mandala Capital has invested $15 million in India's Godavari Biorefineries, a producer of foods, biofuels, specialty chemicals and power.
CLSA seals second Asia diapers deal
CLSA Capital Partners (CLSA CP) has invested RMB150 million ($24.5 million) in Coco Healthcare Products, a Chinese manufacturer of diapers for adults and babies. It plans to help the company boost its export business.
Deal focus: Warburg Pincus rides with China’s eDaijia
It is estimated that around three shots of soju is sufficient for an adult to attain a blood alcohol content of 0.05% and therefore be in violation of Korea’s laws that prohibit driving while intoxicated. Punishments start at six months in jail or a...
India IPOs: Staying afloat
India’s public markets are at record highs, but IPO activity remains lackluster. Investors want an overhaul of the listings approval process and a regulatory system that is suited to PE and VC-backed companies
PE tech boom: High stakes
It is still only May but Asia has seen 28 deals in the technology, media and telecom (TMT) space of $100 million or more. This compares to 31 in 2014 and an average of approximately 14 for the eight years before that.
Primavera leads $50m round for China online advertising platform
Primavera Capital has led a $50 million Series D round of funding for Miaozhen Systems, a Chinese third-party big data company that specializes in advertising services.
CNEI invests $15m in China private school operator
China New Enterprise Investment (CNEI) has led a $15 million round of funding for Guanghua Education Group, a China-based private school operator.
VC investors commit to Indian online education start-ups
Two Indian online education start-ups have received venture capital funding, with Toppr raising a $10 million round led by Fidelity Growth Partners and Vedantu attracting $5 million in Series A funding from Accel Partners and Tiger Global.
China’s Tsing Capital joins $20m round for GaN Systems
Beijing-based Tsing Capital has participated in a $20 million Series C round of funding for GaN Systems, a Canadian fabless semiconductor developer. Local VC firm Cycle Capital is the lead investor.
SAIF leads $16m round for China real estate site Jiwu
SAIF Partners China has led a RMB100 million ($16 million) Series A round of funding for Jiwu.com, a Shenzhen-based real estate listings portal.