Technology
B Capital reaches $406m first close on second fund
B Capital Group, a US venture capital firm with a strong Asia focus established by Facebook co-founder Eduardo Saverin, has reached a first close of $406.1 million for its second fund.
China-Belarus fund backs Series C for chatbot specialist
The China-Belarus Industrial Investment Fund, an investment vehicle under China Merchants Group, has led a $41 million Series C round of funding for Shenzhen-based Zhuiyi Technology, an artificial intelligence start-up specializing in chatbots.
Chinese industrial robotics player Emergen raises $30m
Qiming Venture Partners has led a RMB200 million ($30 million) Series B round for Emergen, a Chinese company that designs intelligent operating systems for factories and produces industrial robots.
NewMargin Ventures launches $1.5b RMB fund
Shanghai-based NewMargin Ventures is looking to raise up to RMB10 billion ($1.5 billion) for a renminbi-denominated fund that will focus on the defense sector.
Chinese robotics developer secures $15m Series A
Hangzhou Guochen Robotic Technology, a Chinese company that manufactures intelligent service robots and incubates start-ups in this field, has raised RMB100 million ($15 million) in a Series A round led by domestic VC firm Yingshi Jijin.
Omidyar spins out fintech arm as Flourish Ventures
Omidyar Network, a global impact investment firm launched by eBay founder Pierre Omidyar that is an active investor in Asia, has spun out its financial technology division into a new VC firm called Flourish Ventures.
VC-backed internet celebrity incubator files for US listing
Ruhan, an internet celebrity incubator backed by Legend Capital that is said to be the largest business of its kind by revenue in China, has filed to list on NASDAQ.
500 Startups Japan rebrands, launches $45m fund
The Japan-based team of 500 Startups has spun out a separate firm called Coral Capital and announced a debut fund with about $45 million in commitments.
AirAsia sets up venture capital fund
Malaysia’s AirAsia has launched a venture capital fund in partnership with US-based 500 Startups that will focus on digital Southeast Asian businesses in travel, logistics and financial technology.
Sina invests $30m in Chinese fintech player Shuhe
Shuhe Technology, a Chinese consumer financial services start-up that provides installment repayment plans for credit card holders, has raised $30 million in Series B funding from Sina, a local internet company that operates microblogging site Weibo.
BaltCap, JBIC launch $113m Europe-Japan VC fund
Estonian private equity firm BaltCap and the Japan Bank for International Cooperation (JBIC) have launched a EUR100 million ($113 million) Europe-Asia cross-border VC fund with a focus on Japan.
Direct Capital backs New Zealand engineering firm
New Zealand’s Direct Capital has made an investment of undisclosed size in local engineering consultancy Beca.
TPG-SoftBank fund backs Chinese restaurant services platform
Shiheng Technology, a Chinese company that helps restaurants manage their online food delivery businesses, has completed the second tranche of a Series B round led by a TPG Capital and SoftBank Ventures Korea fund.
Chinese online K12 education provider raises $350m
Zhangmen, a Chinese online tutoring platform aimed at elementary through high school students, has raised $350 million in the first tranche of a Series E funding round.
Australia's EVP closes second VC fund at $25m
Australia’s Equity Venture Partners (EVP) has closed its second VC fund at A$35 million ($25 million). It will make early-stage investments in local B2B software companies.
Intudo closes second Indonesia fund at $50m
Intudo Ventures has closed its second fund focused exclusively on Indonesian early-stage companies at $50 million. The firm raised $20 million for its debut vehicle last year.
Sequoia leads $226m Series D for Singapore’s Zilingo
Sequoia Capital India has led a $226 million Series D round for Singapore-based Zilingo, a fashion e-commerce platform and provider of ancillary services.
New Zealand's Enterprise Angels launches third fund
Enterprise Angels, a New Zealand angel investor network that focuses on domestic IT, agriculture, food, horticulture, life science and biotech companies, has launched its third early-stage VC fund.
India's 3one4 achieves first close on $50m VC fund
Indian venture capital firm 3one4 Capital has reached a first close on a INR3.5 billion ($50 million) fund with INR1.5 billion in commitments.
Ascent Capital launches Myanmar PE fund
Ascent Capital, a Singapore-based private equity firm set up last year with a focus on Myanmar, has formally launched its debut fund with about $50 million in confirmed commitments.
Fund focus: Sizing up selectively
ChrysCapital Partners has increased its fund size and its commitment to operations in response to a maturation of the Indian market characterized by bigger deals and more opportunities to drive change
Fund focus: Matrix doubles down on India
Matrix Partners India closed its third fund in speedy fashion despite ongoing woes about consistency in the country’s venture environment. Patience regarding comparisons with China has been critical
Hong Kong's Ion Pacific raises $30m for PE secondary fund
Hong Kong-based merchant bank Ion Pacific has raised $30 million for a technology fund that will acquire secondary positions in venture and growth funds as well as take direct stakes in portfolio companies.
Square Peg joins $81m Series B for Australia’s Deputy
Australia’s Square Peg Capital has joined an $81 million Series B funding round for domestic workforce management software provider Deputy.