Southeast Asia
Deal focus: Yao takes the fight to China
Yao Ming-backed PE firm will grow the reach of kickboxing by emphasizing similarities to Chinese fighting styles
Korea's Althea raises $3.5m Series A
Althea, a South Korean cosmetics e-commerce site that markets primarily to Southeast Asia, has raised a $3.5 million Series A round from a group of investors including Mirae Asset Ventures, Cherubic Ventures and 500 Startups.
Telstra backs Monk's Hill Southeast Asia fund
Australia’s Telstra Ventures has made an LP commitment to Singapore-based Monk's Hill Ventures' debut Southeast Asia fund - which is targeting S$100 million ($80 million) - as part of an ongoing pivot to Asian venture capital.
GIC to invest $387m in Indonesian retailer
Singapore’s GIC Private has agreed to invest IDR5.2 trillion ($387.4 million) in Trans Retail, a hypermarket operator controlled by Indonesian conglomerate CT Corp.
KV Asia acquires Malaysia's TF Value-Mart
KV Asia Capital has acquired a controlling stake in TF Value-Mart, a leading hypermarket chain in Malaysia.
Rocket Internet raises $31.4m for property portal
Emerging markets property portal Lamudi has raised EUR29 million ($31.4 million) from its main backer, Germany's Rocket Internet, and several additional investors.
Venturra leads $12m round for Malaysia's KFit
Venturra Capital has led a $12 million Series A round for Malaysia-based gym membership app KFit.
Fund focus: New name, same agribusiness strategy
Following a spin-out from Cargill, the PE unit of Black River Asset Management has been renamed Proterra Investments Partners. The agriculture-focused remit is unchanged
KKR exits Vietnam's Masan Consumer with over 2x return
KKR has fully exited Vietnam’s Masan Consumer Corp. (MCC), generating a more than 2x return on a $359 million investment made across two tranches in 2011 and 2013.
Jungle Ventures adds to management team
Singapore-based Jungle Ventures, which is currently raising its second fund, has strengthened its management team with the appointment of a new CFO, director of corporate development, and head of finance.
CVC, Lippo postpone plan to exit Indonesia's Link Net
CVC Capital Partners and the Riady family's Lippo Group have suspended plans to sell their majority stake in Link Net, an Indonesian fixed-line broadband and cable TV operator.
LP interview: Hamilton Lane
In addition to an advisory business that targets large-scale LPs, Hamilton Lane has a discretionary portfolio geared towards the middle market. It expects Asian GPs in this space to adapt to changing dynamics
Indonesia's Kejora adds partner, targets $100m fund
Indonesian venture capital firm Kejora Group has hired Eri Reksoprodjo, formerly of Saratoga Capital, as a partner as it looks to raise up to $100 million for its first institutional fund.
Deal focus: Bain revives FCI in Asia
Bain Capital spent 10 years restructuring Europe-based FCI - more than returning its capital from divestments in the process - into an Asia-focused electronics business
Portfolio: Armstrong Asset Management and The Blue Circle
Thanks to a strong relationship between their respective founders, Armstrong Asset Management has helped The Blue Circle become an influential player in Southeast Asia’s renewable energy sector
Profile: Garena's Nick Nash
Nick Nash left a career with General Atlantic to work for one of the private equity firm’s portfolio companies. A year later he sees it as one of the best moves he’s ever made
Deal focus: CreditAccess pursues multi-market scale in Asia
Olympus Capital commits $30 million to support the roll-out of CreditAccess Asia's microfinance business in new markets
Singapore's Aslan Pharma closes $43m Series C round
Singapore-based biotech developer Aslan Pharmaceuticals has closed its Series C round of funding at $43 million with additional capital from new investor MVP Capital Partners.
VC-backed SE Asia e-commerce sites to merge
Moxy and Bilna, two VC-backed Southeast Asia e-commerce sites focused on female customers, have agreed to merge.
Olympus supports microfinance player's Asia roll-out
Olympus Capital Asia has agreed to invest $30 million in CreditAccess Asia, but this could just be the starting point as the India and Southeast Asia-focused microfinance institution (MFI) pushes into new markets, with Vietnam the likely next target.
Indonesia to tighten rules for foreign venture capital
Indonesia's financial regulators will introduce tighter rules for foreign venture capital investors doing business in the country.
Creador buys minority stake in 7-Eleven Malaysia
Creador has acquired a 6.56% stake in 7-Eleven Malaysia Holdings, the country’s largest convenience store chain with more than 1,900 stores, for around MYR108.8 million ($25.3 million).
Baring Asia to buy Interplex from CVC, Standard Chartered
Baring Private Equity Asia is set to buy Singapore-listed precision engineering business Interplex Holdings after CVC Capital Partners and Standard Chartered Private Equity agreed to tender their combined 57.7% interest in the company.
KKR sets up oil and gas services platform
KKR has set up an oil and gas services platform that will handle the engineering, maintenance, repair and overhaul needs of owners and operators.