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Fund focus: Vitalbridge plays it safe
The China-based venture capital firm declined to increase its Fund II hard cap as regulatory uncertainty mounted. It now has $275 million in dry powder earmarked for services digitalization
China's Vitalbridge closes Fund II at $275m
Vitalbridge Capital, a China-based venture capital firm that spun out from Trustbridge Partners, has raised $275 million for its second US dollar-denominated fund.
WestBridge leads $50m round for India's Fraazo
WestBridge Capital has led a $50 million round, comprised of a mix of debt and equity, for direct-to-consumer fresh produce delivery service Fraazo.
LeapFrog leads $250m round for India's CarDekho
LeapFrog Investments has led a $250 million Series E round - described as a pre-IPO round - for Indian online auto marketplace CarDekho at a valuation of $1.2 billion.
Lightspeed joins $125m round for India virtual events platform
Lightspeed Venture Partners has joined a $125 million Series B round for India-based virtual events platform Hubilo.
Vision Fund: Big is beautiful?
Previously the sole elephant in Asia’s growth-stage technology space, SoftBank’s Vision Fund program is now one of a herd. Prevailing amid increased competition may prove its thesis once and for all
3Q analysis: India advances
India technology investment continues to ramp up as China flatlines; international payments M&A drives Asia trade sale revival, but IPOs slump; fundraising remains slow
China's Yunqi closes third US dollar fund at $300m
Yunqi Partners, an early-stage investment firm focused on enterprise software and services in China, has raised $300 million for its third US dollar-denominated fund.
China's Source Code raises $1.1b renminbi fund
Chinese venture capital firm Source Code Capital has raised RMB7 billion ($1.1 billion) for its fifth renminbi-denominated fund after approximately three months in the market.
China in six trends
Key themes in China private equity fundraising, investment, and exits
China Renaissance hits first close on flagship US dollar fund
Huaxing Growth Capital, a new economy-focused private equity division of China Renaissance, has reached the first close on its fourth US dollar-denominated fund of $550 million.
India cloud kitchen player Rebel Foods raises $175m
India-based cloud kitchen operator Rebel Foods has raised $175 million in Series F funding, led by Qatar Investment Authority (QIA), at a valuation of $1.4 billion.
India's Licious secures $52m Series G
Licious, an India-based online retailer specializing in fresh meat and seafood, claims to have become the country’s first direct-to-consumer (D2C) unicorn following a $52 million Series G round.
Deal focus: Vedantu highlights impact potential in Indian edtech
The latest round for livestreaming teaching app Vedantu reframes India’s swaggering, unicorn-populated edtech sector as the impact opportunity it always was
Deal focus: COVID-19 grows India’s Medikabazaar
Pandemic-driven demand for masks, ventilators, and the like has propelled Indian medical equipment operator Medikabazaar to its next stage of development with a global mix of investors
Q&A: Poema Global’s Homer Sun
Morgan Stanley Private Equity Asia’s former CIO explains why he likes special purpose acquisition companies (SPACs) and what drew him to electric scooter and mobility technology player Gogoro
PE-backed Oyo targets $1.1b India IPO
Oyo, an India-focused budget hotel platform backed by the likes of SoftBank Vision Fund, is looking to raise up to INR84.3 billion ($1.1 billion) through a domestic IPO.
Tiger Global leads $50m round for China's DataCloak
China-based cyber security start-up DataCloak has raised $50 million in an extended Series B round led by Tiger Global Management. Existing investors Matrix Partners China, Jeneration Capital, GL Ventures and GSR Ventures re-upped.
Ex-Quadrant executive launches consumer-tech PE firm
Justin Ryan, who previously led Quadrant Private Equity’s growth capital strategy, has established a private equity firm that will back e-commerce platforms and consumer brands in Australia and New Zealand.
China service robot player Pudu secures $77m
Pudu Robotics, a China-based manufacturer of service robots, has raised a $77 million Series C extension led by Meituan, Greater Bay Area Homeland Development Fund, Shenzhen Investment Holdings, and Sequoia Capital China.
Deal focus: Vision Fund bets on service robots
COVID-19 crippled demand for restaurant service robots, so China’s Keenon Robotics pivoted towards hospitals. It has $200 million in Series D funding to target new application scenarios
India's Cars24 closes Series F, sees valuation double
Indian used car platform Cars24 has closed a $450 million Series F round and received $110 million in debt funding. It nearly doubles the company’s valuation to $1.84 billion.
India's Apna joins unicorn club 21 months after launch
India-based online jobs platform Apna has closed a $100 million funding Series C round at a valuation of $1.1 billion, achieving unicorn status just 21 months after launching its flagship product.
IFC plans re-up for A91's second India fund
The International Finance Corporation (IFC) has proposed a commitment of up to $25 million in the sophomore fund of India’s A91 Partners, which has a target of $500-550 million.