India
CDC anchors Global Environment Fund spin-out
UK development finance institution CDC Group has anchored a $130 million first close for a fund managed by a South Asian spin-out of US-based Global Environmental Fund Capital Advisors.
Japan's Gree rebrands as Strive, launches $137m fund
Japan’s Gree Ventures has rebranded as Strive and launched its third fund with a view to raising JPY15 billion ($137 million) for internet company investments across Japan, Southeast Asia, and India.
Asia's middle market: Lost in space
Growing fund sizes in certain Asian markets are redefining what constitutes a middle-market GP. Are these managers evolving alongside the opportunity set or careering dangerously outside of their sweet spot?
India's Kinara raises $14m funding round
Indian non-banking finance company (NBFC) Kinara Capital has raised INR1 billion ($14.3 million) from a group of investors including Gaja Capital, Gawa Capital, the Michael and Susan Dell Foundation, and US-based VC firm Patamar Capital (formerly Unitus...
LeapFrog raises $700m for third impact fund
LeapFrog Investments has raised $700 million for its third fund with a view to investing in healthcare and financial services companies in emerging Asia and Africa. It initially targeted a corpus of $600 million.
Deal focus: BlackBuck in it for the long haul
India's Blackbuck has gained traction with a digital platform that connects truckers with shippers. Achieving greater scale means convincing veteran fleet owners that the model can work for them
Emerging Asia healthcare: Pilot programs
Buy-and-build strategies, a mainstay of the PE toolkit in developed markets, are gaining exposure in emerging Asia’s healthcare sector. Proving a viable exit path will be the key to widespread adoption
Accel, Kalaari, Chiratae invest in India's CureFit
Indian health and fitness start-up CureFit has raised $75 million from a group of investors including Accel Partners, Kalaari Capital, and Chiratae Ventures.
Lighthouse closes third India fund at $230m
Lighthouse Funds has closed its third India-focused middle-market growth capital vehicle at $230 million.
TA closes global growth fund at $8.5b hard cap
Global growth equity investor TA Associates has reached a first and final close on its latest fund – TA XIII – at the hard cap of $8.5 billion.
India NBFC raises $14m Series E round
Dvara KGFS, a non-banking finance company (NBFC) backed by Indian financial inclusion investor Dvara Trust, has raised INR970 million ($14 million) in Series E funding led by Stakeboat Capital.
LPs ramp up emerging markets due diligence efforts - survey
Private equity investors in emerging markets are expanding the scope of their manager due diligence, driven by the weaknesses exposed in the demise of Abraaj Group as well as by increasing emphasis on environment, social, and governance (ESG) protocols....
Investcorp: Into Asia
Investcorp entered the region last year through a fund commitment in China and the acquisition of an alternative investment platform in India. The firm’s top executives explain the rationale
Goldman, Accel lead Series D for India's BlackBuck
Indian online long-distance trucking marketplace BlackBuck has raised a $150 million Series D round led by Goldman Sachs and existing investor Accel Partners.
TPG-backed Asia Healthcare acquires India fertility clinic
Asia Healthcare Holdings (AHH), a healthcare-focused operating and investment platform managed by TPG Growth, has agreed to acquire Nova IVI Fertility, an operator of in vitro fertilization (IVF) clinics based in India.
KKR, GIC invest in Indian power grid operator
KKR and GIC have agreed to invest a combined INR20.6 billion ($295 million) for minority stakes in India-listed infrastructure investment trust India Grid.
True North exits India seasoning business
Switzerland-based perfume and flavorings manufacturer Firmenich has agreed to acquire a majority stake in Indian seasonings business VKL Flavors, providing a full exit for True North.
Deal focus: Blackstone takes over EPL's packaging empire
The Blackstone Group has agreed to buy an Indian packaging manufacturer that provides tubes for 40% of the world's toothpaste. The goal is to turn it into a true multinational
FMO leads $86m round for India's InCred
Indian online lending platform and non-banking finance company (NBFC) InCred Financial Services has raised a INR6 billion ($85.9 million) Series A round led by Dutch development finance institution FMO.
Naspers exits India's MakeMyTrip to Ctrip
South African internet conglomerate Naspers Group has agreed to exit its holding in MakeMyTrip, a US-listed Indian online travel agency, to Chinese travel services firm Ctrip.
Apis invests $110m in India's L&T IDF
Apis Partners has agreed to invest up to $110 million in L&T Infra Debt Fund (L&T IDF), a subsidiary of India’s L&T Finance Holdings focused on financing infrastructure projects in India.
India's Omnivore raises $97m for second fund
Omnivore Partners, an Indian venture capital firm focused on impact investment in the local agriculture industry, has closed its second early-stage fund with $97 million in commitments.
SBI leads $17m Series B for India health-tech player
SBI Ven Capital, a Singapore-based division of Japan’s SBI Group, has led a $17.2 million Series B round for Mfine, an Indian healthcare technology player that uses artificial intelligence (AI).
Everstone hires former UTIMCO executive in New York
Indian and Southeast Asia-focused GP Everstone Group has hired Suneel Kaji, who was most recently part of the private markets team at University of Texas Investment Management (UTIMCO), as a managing director based in New York.