Japan
Japan's Ride On Express raises $23m in Tokyo IPO
Ride On Express, a Japanese food delivery franchise operator backed by Jafco Ventures, saw its stock open at JPY3105 per share - a 55% premium on the offering price - on its first day of trading. The company earlier raised JPY2.3 billion ($22 million)...
Asia Awards: PE Professional of the Year - Michael Kim
MBK Partners closed its North Asia-focused fund in September and also completed four of Asia’s largest buyouts of 2013. Michael B. Kim, the firm’s founding partner, looks back on a busy 12 months
Asia Awards: Firm of the Year - KKR
KKR closed its second pan-Asia fund at $6 billion and announced investments of $1.8 billion and distributions of $1.2 billion for the year to September. Capstone, the firm’s operating unit, was a factor in each area
Advantage to exit Japan's Nissen for $22.8 million
Advantage Partners, the Japanese mid-market buyout firm, is to exit its stake in catalogue and web-based retailer Nissen Holdings to Seven & i Holdings, the Japanese parent of 7-Eleven and the Ito Yakado supermarket chain, for JPY2.36 billion ($22.8 million)....
Itochu, Mizuho back Japan restaurant finder app
Itochu Ventures and Mizuho Capital have led a JPY330 million ($3.2 million) Series B round of funding for Retty, the Japanese start-up behind the restaurant app of the same name.
MBK Partners sells Japan-based Invoice to Lone Star
MBK Partners has fully exited Invoice, Japan’s largest telecom bill aggregation service provider, to Lone Star Funds. The sale price was not disclosed but sources close to the deal said the North Asia-focused private equity firm had generated a 2.5x money...
INCJ commits $100m to Global Brain Fund V
The government-backed Innovation Network Corporation of Japan (INCJ) will commit up to JPY10 billion ($98.7 million) to Global Brain No.5 Investment Limited Partnership, the latest vehicle launched by IT-focused VC Global Brain Corporation (GBC).
JAFCO-backed ZIGExN raises $58m in Tokyo IPO
ZIGExN, a JAFCO portfolio company that runs network of search engine websites, saw its stock more than double to JPY1750 on its first day of trading following a JPY5.8 billion ($58 million) Tokyo IPO.
Japanese government launches 'Cool Japan Fund'
The Japanese government has launched a "Cool Japan Fund" which will invest up to JPY90 billion ($884 million) in cultural exports such as fashion, food and media.
ICG, Nomura set up Japan mezzanine fund
Intermediate Capital Group (ICG), a global mezzanine specialist, and Japanese investment bank Nomura Holdings have together launched a joint venture to manage a Japan-focused mezzanine fund. Each will the contribute JPY10 billion ($98 million).
Risa Partners exits drug store to Tsuruha Holdings for $99m
Risa Partners, a unit of NEC Capital, has exited its 56% stake in Japanese drug store operator Hearty Wants to strategic investor Tsuruha Holdings for JPY10.1 billion ($99 million).
Indonesian fashion site Berrybenka raises $5m Series B
Japan's Transcomos has led a $5 million Series B round of funding for Berrybenka, picking a more than 30% interest in the Indonesian fashion e-commerce start-up. Existing backer GREE Venture also participated.
Japanese pension funds must diversify - panel
Japan's public pension funds - which collectively manage more than JPY200 trillion ($2 trillion) in assets - should diversify into alternative assets, including private equity, and have greater independence to do so, according to an expert panel.
SMBC Venture, Adways invest in Japan e-commerce site
SMBC Venture Capital and strategic investor Adways have together backed Flask Park, a Japanese gift e-commerce company. Details of the transaction were not disclosed.
Riverside acquires Japan bicycle retailer
The Riverside Company has acquired Y. International, a Japanese bicycle retail chain. The financial terms of the deal were not disclosed.
Lone Star approved to buy Osaka train, warehouse operator - report
US-based distress-focused GP Lone Star has reportedly won the rights to acquire Japan train operator Osaka Prefectural Urban Development (OPUD) for JPY78 billion ($783 million)
North Asia GPs cautiously optimistic on economic reforms – AVCJ Forum
Government-driven reforms in Japan and South Korea have the potential to deliver more buyout opportunities, although industry participants told the AVCJ Forum in Hong Kong that their optimism is cautious rather than wholehearted.
Carlyle set for another partial exit from Japan's Chimney
The Carlyle Group is set to reap up to JPY14.3 billion ($145 million) through another partial exit from Japanese casual restaurant chain Chimney Corp, after agreeing to subscribe to a tender offer by liquor retailer Yamaya Corp. to acquire a 48.66% stake....
Blackpeak adds to Japan team
Blackpeak Group, an Asia-focused strategic advisor to corporate and investment clients, has appointed Kohtaro Miyagi as a senior consultant, based in Tokyo.
Japan's Polaris exits Nippon Oil Pump to Wendel
Japanese buyout firm Polaris Capital Group has agreed to exit its entire share in Nippon Oil Pump Group (NOP) - a maker of hydraulic pumps and motors - to French listed investment group Wendel.
Five trends worth watching
When we look back at 2013 it will probably be described as a slow year for Asian private equity. Statistics on all major PE activities in the region have fallen substantially.
Globis, Intel-backed V-Cube files for Tokyo IPO
V-Cube,a Japanese developer of web-conferencing and webinar systems backed by Intel Capital and Globis Capital Partners, has filed for its Tokyo IPO.
SMBC, NEC-backed VC fund backs US semiconductor firm
Innovative Venture Fund, an early stage investment fund set up by Japan's NEC Capital and SMBC Venture Capital, has a led a round of investment in SiTime Corp, a US-based semiconductor company. Additional participants in the round included Hercules Technology...
Globis backs online stock photo site Pixta
Globis Capital Partners has invested JPY70 million ($700,000) in Pixta, the Japanese company behind stock photo and online storage service site Pixtastock.com.