Japan
DCM raises $880m for early-stage funds
DCM Ventures has raised $880 million across two funds that will continue its early-stage technology strategy, with 70% of the capital earmarked for deployment in China.
Corporate VC in Asia: Moment of truth
Cutting non-core operations is the standard corporate response to an economic downturn. Companies in Asia must decide whether the long-term benefits of exposure to new technologies outweighs short-term pain
Japan's J-Star acquires Pepper Lunch
Japanese private equity firm J-Star has acquired regional restaurant chain Pepper Lunch for an undisclosed sum.
MBK-owned Accordia Golf to buy courses from Singapore trust
Japan’s Accordia Golf, which was acquired by MBK Partners in 2017, has agreed a S$804.1 million ($577 million) privatization of a Singapore-listed trust it established six years ago as the holding entity for 88 golf courses.
CLSA acquires Japan household jobs marketplace
CLSA Capital Partners (CLSA CP) has acquired Assist, a Japanese marketplace that facilitates sourcing helpers for daily household jobs.
Japan Industrial Partners to buy Olympus' imaging division
Japan Industrial Partners (JIP) has agreed to acquire Olympus Corporation’s camera and lens business, which has posted losses in each of the last three years.
Fund focus: Beenext targets a world beyond the mirrors
Beenext Capital Management has expanded its LP base while maintaining fund size discipline. This is born of a philosophy that capacity for cross-pollination is more important than capacity for deployment
Toshiba seeks exit from PE-controlled flash memory business
Toshiba is exploring ways to fully exit its 40.2% stake in Kioxia Holdings, two years after selling control of the Japanese flash memory division to a Bain Capital-led consortium for an enterprise valuation of JPY2 trillion ($18.7 billion).
Corporate carve-outs: Seller's dilemma
Private equity investors expect to see more divestments by Asian conglomerates, but a torrent of new deals is unlikely. Much rests on when the seller is confident enough to pull the trigger
Carlyle adds managing director in Japan
Reiji Terasaka has rejoined The Carlyle Group as a managing director with the Japan team after a seven-year stint in various corporate roles in Japan and the US.
Japan agtech player raises $7m Series A
Japan’s Beyond Next Ventures has led a JPY800 billion ($7.4 million) Series A round for local cell-based agricultural technology specialist IntegriCulture.
KKR, Japanese banks pump $1.2b into Marelli
Marelli, a leading global automotive components supplier formed when KKR combined Japan’s Calsonic Kansei Corporation with Europe-based Magneti Marelli, has secured JPY130 billion ($1.2 billion) in additional funding to ride out a market downturn.
Mitsubishi UFJ invests Japan vegetarian meat player
Mitsubishi UFJ Capital has joined a Series A round for Japanese plant-based meat producer Daiz that brings the company’s total funding to JPY1.2 billion ($11.2 million).
Advantage completes exit from Japan's FMI
Advantage Partners has completed its exit from Japanese kitchenware products manufacturer FMI Corporation to Toho Group, a Tokyo-listed food wholesaler that bought a majority stake in the business two years ago.
MBK closes Fund V at $6.5b hard cap
MBK Partners has closed its fifth North Asia-focused fund at the hard cap of $6.5 billion. It is the joint third-largest PE vehicle raised for deployment across the region and MBK has become the seventh manager to cross the $6 billion threshold.
Japan biotech player raises $25m Series B
Japanese biotech developer Modulus Discovery has raised $25.5 million in Series B funding from a group of local VCs including SBI Investment.
Bain makes $1b bid for Japan care services provider
Bain Capital has submitted a buyout offer for Nichii Gakkan, a Tokyo-listed provider of aged care, childcare and medical support services, that values the company at approximately JPY109.5 billion ($1 billion).
CLSA acquires Japan IT services provider
CLSA Capital Partners (CLSA CP) has acquired a majority stake in Japanese IT services provider Earth Technology for an undisclosed sum.
Hamilton Lane backs Polaris-led privatization of Japan's Sogo Medical
Hamilton Lane has participated as a co-investor in a Japanese take-private for the first time, supporting a Polaris Capital Group-led tender offer for Sogo Medical Holdings, a Japanese pharmacy chain operator and B2B healthcare management platform.
Fund focus: Coral targets Japan's Series B gap
Having previously raised dedicated vehicles to support follow-on rounds for Japanese start-ups, Coral Capital has gone a step further with a fund dedicated to the strategy
Advantage raises $790m for sixth Japan buyout fund
The middle-market private equity firm expects COVID-19 to generate more deal flow as founder-owners and corporates come under stress
Coronavirus & North Asia VC: Diverging fortunes
Speed of response to COVID-19 has led to differing outcomes for VC investment in Korea and Japan. But structural issues are also a factor
Singapore GP launches $500m Japan-Israel tech fund
Singapore private equity firm Chartered Group has teamed up with Israel’s Ministry of Defense to launch a Japan-Israel cross-border technology fund targeting $500 million.
Risa targets $139m for Japan corporate solutions fund
Risa Partners, a Japanese mid-size investment bank controlled by a subsidiary of NEC Corporation, has launched its fifth corporate solutions fund with a target of JPY15 billion ($139.5 million).