Growth capital
TVS Capital consortium picks 26% stake in IEX
A consortium led by TVS Capital Funds has agreed to buy a 25.64% stake in Indian Energy Exchange (IEX) for INR5.76 billion ($94 million) from Blackstone-backed Financial Technologies India (FTIL).
Qiming, Innovation Works invest $22m in China Face++
Qiming Venture Partners and Innovation Works have participated in a $22 million Series B round of funding for Face++, a Chinese face recognition technology developer.
Hera Capital re-ups in Philippines-based Cashcashpinoy
Singapore-based private equity investor Hera Capital has committed an additional $2 million in a Series B round of funding for Cashcashpinoy, a Philippines-based online shopping platform.
Asia PE performance: Special measures
Asian private equity has, by some accounts, failed to meet LP expectations in terms of risk-adjusted returns. With GPs under pressure to show they can be company builders, is specialization the inevitable end game?
Lombard invests in Vietnam seafood producer
Lombard has invested an undisclosed sum in Viet Uc Seafood, Vietnam’s leading shrimp seed producer. It will help the company optimize operations as it seeks to become a fully-integrated shrimp producer.
Mandala Capital commits $24m to India cold chain business
Mandala Capital has acquired a 30% stake in the cold chain unit of Indian express distribution and supply chain solutions provider Gati for INR1.5 billion ($24.4 million).
Warburg Pincus invests $90m in India's Laurus Labs, Fidelity part exits
Warburg Pincus has paid INR5.5 billion ($89.6 million) for a minority stake in Indian drug maker Laurus Labs, triggering a partial exit for Fidelity Growth Partners India.
EIG invests $125m in Indian renewables player Greenko
EIG Global Energy Partners has invested $125 million in Greenko, an India-focused renewable energy developer that has previously received funding from the likes of GIC Private and TPG Capital.
Creador in 3x partial exit from India's Repco Home Finance
Creador has made a partial exit from India's Repco Home Finance (RHF), generating a 3x return on its original investment.
Sequoia leads $55m Series C for Chinese English-study site
Sequoia Capital has led a $55 million Series C round of funding for 51Talk, a Chinese online English-teaching platform, with participation from Shunwei Capital Partners and DCM.
Mizuho Capital to launch $300m SME mezzanine fund
Mizuho Capital Partners is set to launch a new JPY30 billion ($277 million) mezzanine fund which will support Japanese small- to medium-sized enterprises (SMEs) in the form of subordinated loans and preferred shares.
IFC proposes investment in Temasek’s India NBFC
The International Finance Corporation (IFC) is considering an investment of INR4.5 billion ($75 million) in Fullerton India Credit Company (FICC), a non-bank financial company owned by Temasek Holdings.
TAP, KWAP invest in Malaysian snack maker
Southeast Asia-focused GP Tremendous Asia Partners (TAP) has teamed up with pension fund KWAP to buy a 30% stake in Munchy Group, a Malaysia-based snacks producer.
Fidelity Asia invests $15m in Chinese orthopedic hospital operator
Fidelity Growth Partners Asia has invested RMB90 million ($15 million) in Zhejiang Banger Medical Management, a Chinese orthopedic hospital operator.
Morgan Stanley PE Asia backs Hong Kong financial advisor AMTD
Morgan Stanley Private Equity Asia (MSPEA) has invested an undisclosed sum in AMTD, Hong Kong’s leading independent financial planner (IFA) and insurance broker.
GIC bags minority stake in Jimmy Choo at IPO
Singapore sovereign wealth fund GIC Private has taken a 4.6% stake in Jimmy Choo as the luxury shoemaker went public on the London Stock Exchange at a valuation of GBP546 million ($879 million).
Fidelity, Somerset back India's Cygnus Medicare
Fidelity Growth Partners and existing backer Somerset Indus CapitalFund have invested INR600 million ($9.7 million) in Cygnus Medicare, an Indian operator of specialty hospitals in Delhi and Haryana.
Warburg Pincus gets approval for $191m India jeweler deal – update
Warburg Pincus has won approval from the Competition Commission of India (CCI) to purchase of a 24% stake in Kaylan Jewellers for $191 million.
Chinese PE firm agrees JV with US solar developer SunEdison
JIC Capital, an investment arm of China’s Central Huijin Investment, has formed a joint venture with SunEdison, a US-listed solar energy developer, to build a solar photovoltaic (PV) plant in China.
Reliance PE becomes Fairwinds, targets $300m fund
Reliance Equity Advisors, which spun out from its parent Reliance ADAG in July, has re-branded as Fairwinds Private Equity and launched a new $300 million fund.
US medical device maker gets $51m for China expansion
MID Labs, a US-based medical devices manufacturer that focuses on eye surgery, has received $51 million in funding from a group of investors to support its expansion into China.
Fosun-led consortium acquires 30% stake in China express firm ZJS
A consortium led by Fosun International has acquired a 30% stake in Chinese delivery service provider Zhaijisong (ZJS) Express for an undisclosed sum.
Ex-Avenue, CLSA executives seek $200m for Asia healthcare fund
Three executives from Avenue Capital, CLSA Capital Partners and VC firm Dinova Capital have teamed up to launch a $200 million mid-cap fund that will make healthcare investments in Asia.
3Q analysis: The IPO genie
Real and paper windfall for PE investors in Alibaba spurs exit environment; the latest round of fundraising for pan-regional mega vehicles draws to a close; growth capital dominates the investment numbers