Hong Kong (China)
Hong Kong's Gly Capital launches $300m mobility tech fund
Gly Capital, a Hong Kong-based investor controlled by Chinese auto giant Geely, has launched a $300 million mobility tech fund.
LP interview: Sun Hung Kai & Co
Lindsay Wright, CEO of the newly launched funds management unit at Sun Hung Kai & Co, is helping reposition a Hong Kong financial services mainstay as an alternatives investor
SPACs in Asia: Out of the comfort zone
Several Asian stock exchanges will consider allowing SPAC offerings, but implementation may run contrary to their regulatory ethos – and there is no guarantee of a strong market response
Hillhouse agrees partnership with Jardines
Hillhouse Capital has teamed up with Asian conglomerate Jardine Matheson to pursue investment and business development opportunities in Greater China and Southeast Asia.
Allianz leads $75m round for Hong Kong's WeLab
Allianz Group has led a $75 million round for Hong Kong’s WeLab with a view to helping the financial technology provider develop new insurance and investment products.
Lunar buys majority stake in Hong Kong IVF business
Chinese middle-market buyout firm Lunar has agreed to acquire a women’s health and IVF business from Mason Group, a Hong Kong conglomerate with interests in financial services and healthcare, for HK$268 million ($34.5 million).
Q&A: Bain & Company's Henrik Naujoks
Henrik Naujoks, Bain & Company’s financial services lead for Asia, observes that investors must not ignore the increasing cohesion of the Greater Bay Area despite a relative lack of near-term gambits
Aspex leads $200m Series E for Hong Kong's Klook
Aspex Management has led a $200 million Series E round for Klook as the Hong Kong travel app pivots to domestic holiday services during a freeze in international tourism.
Hong Kong's E15 VC closes second fund at $32m
Hong Kong technology investor E15 VC, also known as E15 Ventures, has closed its second fund at $32 million with a $15 million contribution from Sun Hung Kai & Co (SHK).
Vista founder calls for investment in Asia tech infrastructure
Vista Equity Partners is keen to invest in Asia’s financial technology space, but founder Robert F. Smith stressed that governments must put in place the appropriate regulatory infrastructure.
Investors question eligibility for HK carried interest tax concession
Fund-of-funds and family offices could be excluded from Hong Kong’s proposed carried interest tax concession, industry participants have warned.
Deal focus: Monetizing mice
ORI Capital’s 2.8x return on its investment in Kymab was in part based on helping the company make the transition from antibody-based discovery platform to drug development engine
Lake Bleu raises $560m for Asia pre-IPO healthcare fund
Lake Bleu Capital, a Hong Kong-based private equity investor focused on healthcare, has raised $560 million for a pre-IPO fund targeting Asia with an emphasis on Greater China.
Hong Kong regulation: Carry on
The proposal to place a 0% tax on carried interest has been welcomed in Hong Kong, but PE industry participants are quietly looking to Hong Kong Monetary Authority to ensure balanced execution of the policy
Hong Kong's ORI hits first close on Fund II, exits Kymab
Hong Kong healthcare-focused VC firm ORI Capital has reached a first close of $112 million on its second fund and exited its largest investment, UK biotech developer Kymab, as part of a $1.1 billion deal.
Hong Kong proposes 0% carried interest tax rate
The Hong Kong government has moved to placate private equity industry fears regarding the tax treatment of carried interest by proposing a 0% levy.
Sequoia leads $515m Series E for Hong Kong's Lalamove
Lalamove, a Hong Kong-based delivery start-up known as Huolala in mainland China, has completed a $515 million Series E round led by Sequoia Capital China.
SIP brings PE value-add to COVID-19 hit HK social enterprises
Social Impact Partners (SIP), a Hong Kong-based venture philanthropy organization supported by several private equity firms, has been drawing on industry resources to support portfolio organizations that face financial and operational challenges because...
AIIB backs ADM's renewable energy debt fund
Asian Infrastructure Investment Bank (AIIB) has committed $100 million to an Asia-focused debt fund dedicated to renewable energy managed by Hong Kong’s ADM Capital.
Hong Kong reaffirms carried interest pledge
Hong Kong Chief Executive Carrie Lam has reaffirmed the territory’s commitment to providing certainty on the tax treatment of carried interest as part of efforts to consolidate its position as a private equity hub.
Manulife backs spinout from Hong Kong’s JIDA
Manulife Investment Management is supporting the spinout of the team at Hong Kong infrastructure investor JIDA Capital, acquiring a significant minority stake in the new GP.
Hong Kong insurtech start-up Coherent raises $14m
Coherent, a Hong Kong-based insurance technology company, has raised a $14 million Series A round led by Cathay Innovation, with participation from Franklin Templeton.
Hong Kong's MindWorks seeks $150m for Fund IV
Hong Kong-headquartered VC firm MindWorks Capital expects to launch its fourth fund in the first half of next year with a target of $150 million.
Asian GPs favor Singapore after Cayman as fund domicile - survey
Singapore would be the jurisdiction of choice for Asia-based private equity managers if they could no longer domicile their funds in the Cayman Islands, according to a survey by law firm Walkers.