Hong Kong (China)
Hony backs Hong Kong VC fund
China-focused PE firm Hony Capital has agreed to back the debut fund being raised by newly-established Hong Kong VC firm Beyond Ventures. The vehicle has a target of HK$1.2 billion ($154 million).
Deal focus: TNG targets Asia's unbanked
Hong Kong financial technology company TNG has secured a $115 million Series A to push its electronic payment solution
PE-backed Zhong An Insurance targets $1.5b HK IPO
Zhong An Insurance, a Chinese online-only insurance business backed by Alibaba Group, Tencent Holdings and Ping An Insurance as well as several PE investors, is looking to raise HK$11.9 billion ($1.5 billion) through a Hong Kong IPO.
Hong Kong's TNG Fintech raises $115m Series A
Chinese private equity firm NewMargin Capital has led a $115.3 million investment in Hong Kong’s TNG Fintech. It is said to be the largest Series A round for a Hong Kong start-up to date.
Regulators seek to curb initial coin offerings
Start-up fundraisings via the sale of cryptographic tokens, also known as initial coin offerings (ICO), are set to experience elevated legal enforcement risk in Asia following regulatory pressure in China and Hong Kong.
Deal focus: GoGoVan, 58 Suyun seek Asia logistics dominance
Online logistics platforms GoGoVan and 58 Suyun have combined their complementary business models to fuel their Asia expansion plans
GIC, Yunfeng Capital LPs in $1.7b Asian insurance acquisition
Singapore’s GIC Private has joined a group of investors including Yunfeng Financial Group (YFG), a Hong Kong-based financial services company backed by Alibaba founder Jack Ma, in a $1.7 billion acquisition of insurance provider MassMutual Asia.
Hong Kong X invests six local start-ups
Hong Kong X-Tech Startup Platform, an angel fund and accelerator, has made its first investments by backing six local technology companies.
Advantage exits China's ESG Holdings
Advantage Partners has completed a full exit of Hong Kong-based and China-focused facility management services company ESG Holdings. It was the Japan-focused firm's first China buyout.
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.
Alibaba fund invests in Hong Kong bike-sharing service
Hong Kong bike-sharing start-up Gobee Bike has raised a $9 million Series A round from investors including the Alibaba Group’s Hong Kong Entrepreneurs Fund.
Hong Kong tax: Still no certainty
The Financial Services Development Council has criticized Hong Kong's tax exemption for offshore PE funds - and with good reason. It remains to be seen if regulators have the will to respond the group's proposals
China First Capital to acquire Korean online education platform
Hong Kong-listed investment group China First Capital plans to acquire 54% of SJW International, a Korea-based online video English training platform, for about $135 million.
I Squared agrees $1.9b deal for Hutchison's fixed-line business
Infrastructure specialist I Squared Capital has agreed to buy the fixed-line telecom business of Hong Kong’s Hutchison Telecommunications, which is controlled by billionaire Li Ka-shing, for approximately HK$14.5 billion ($1.85 billion).
Hong Kong advisory body criticizes ineffective PE tax policy
Hong Kong’s tax exemption for offshore private equity funds – introduced with a view to encouraging managers to expand their presence in the territory – has failed to deliver, according to the advisory body that made detailed proposals as to how the legislation...
Deal focus: Naked Hub scales up for WeWork challenge
Asian co-working space operators Naked Hub and JustCo have decided to join forces to fend off competition from WeWork, a US-based sector leader now encroaching on the regional market. As a joint expansion program rolls out, pricing control will be a key...
Hong Kong's CompareAsiaGroup gets $50m Series B
The International Finance Corporation (IFC) has led a number of venture capital firms in a $50 million Series B funding round for Hong Kong-based financial comparison platform CompareAsiaGroup.
Carlyle-backed Tencent ebook unit files for Hong Kong IPO
China Literature, the ebook unit of China’s Tencent Holdings whose backers include The Carlyle Group and Trustbridge Partners, has filed for an IPO in Hong Kong.
Cassia Investments backs buyout of Shanghai Tang
Hong Kong-based private equity firm Cassia Investments has supported an acquisition by Italian entrepreneur Alessandro Bastagli of fashion retailer Shanghai Tang from Swiss luxury goods company Richemont.
VC-backed gaming company Razer files for Hong Kong IPO
Razer, a manufacturer of gaming peripherals such as headphones, joypads and mice, has filed for a Hong Kong IPO. The company, which was co-founded by a Singaporean but is based in the US, has numerous venture capital backers.
IFC invests $60m in Hong Kong's idsMED
The International Finance Corporation (IFC), the investment arm of the World Bank, has invested $60 million in Hong Kong-based medical supply chain solutions provider IDS Medical Systems Group (idsMED).
CLSA Capital invests in Japan beauty contact lenses maker
CLSA Capital Partners (CLSA CP) has invested an undisclosed sum in El Dorado Group, a beauty contact lenses manufacturer based in Japan and Hong Kong.
Tencent-backed Futu Securities raises $146m
Tencent Holdings has re-upped in Futu Securities International, leading a $145.5 million Series C round for the Hong Kong-registered cross-border stock trading platform.
Hong Kong tech IPOs: Compromise solution
Hong Kong wants to reinvest itself as a destination for Chinese technology listings with a new board that would be open to companies that are pre-profit and have dual-class share structures. Will it fly?