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India e-commerce: Sink or swim
India’s e-commerce sector is in the midst of consolidation. VC money continues to flow to the larger players but even they are examining their business models in a climate of higher operating costs
Baidu, VC-backed Qunar sets terms for $127m US IPO
Qunar, a Chinese-travel website majority-owned by internet search giant Baidu, is seeking to raise up to $127.8 million through its NASDAQ IPO. The company is also backed by GSR Ventures and GGV Capital, neither of which will sell any shares in the offering....
New Horizon leads $50m round for China's Chukong Technologies
New Horizon Capital has led a $50 million Series D round of investment in Chukong Technologies, a Chinese mobile game developer. GGV Capital, Sequoia Capital, Steamboat Ventures and Northern Light Venture Capital also participated in the round, which...
Chinese online marketplace 58.com sets terms for $165m US IPO
Chinese online marketplace 58.com is seeking raise up to $165 million through its New York Stock Exchange IPO. The company’s venture capital investors – Warburg Pincus, SAIF Partners and DCM – will not sell any of their shares in the offering.
TPG to buy 21st Century Fox stake in Phoenix Satellite TV
TPG Capital has agreed to buy a 12.15% stake in Chinese satellite television operator Phoenix Satellite Television Holdings from 21st Century Fox for HK$1.66 billion ($214 million).
Helion, Blumberg invest $1.5m in India's Mygola for US expansion
Mygola.com, an Indian online travel planning start-up, has raised a $1.5 million Series A round led by Helion Venture Partners and including existing backer Blumberg Capital. The funding will be used to support the company's US expansion plans.
China's Pactera agrees to $625m Blackstone-led take-private
Pactera Technology International has agreed to be taken private by a consortium led by The Blackstone Group that values the NASDAQ-listed Chinese tech outsourcing firm at approximately $625 million. Existing investor GGV Capital is also participating...
Global Brain invests $3.3m in Japan group buying site Luxa
Japanese venture capital firm Global Brain has invested JPY330 million ($3.3 million) in luxury group buying site Luxa through its KDDI Open Innovation Fund.
Fosun VC leads Series B round for Chinese animation producer
Fosun Venture Capital Investment, a VC arm of Fosun Group, has invested in a Series B round of funding for Beijing Dream Castle Culture, a Chinese animation producer. Existing backer GGV Capital also participated. Financial terms were not disclosed.
Japan's SoftBank acquires VC-backed Supercell for $1.5b
Japanese telecom giant SoftBank has acquired SuperCell - a Finnish mobile games developer backed by Index Ventures, Accel Partners and Atomico - paying JPY150 billion ($1.53 billion) for a 51% stake.
People's Daily to buy Sequoia-backed online literacy platform
People.cn, a Chinese online newspaper run by state-owned People’s Daily, intends to purchase a 69.25% stake in Kanshu.com, an online book reading platform backed by Sequoia Capital, for RMB249 million ($40.8 million).
Matrix, Valara invest $150m in New Zealand's Xero
New Zealand-based online accounting software company Xero has raised a NZ$180 million ($150 million) round from existing backers Matrix Capital Management and Valara Ventures. The transaction was priced at $15.10 per share for 9.92 million shares - representing...
Sequoia commits $4m to India's Idea Device
Data center automation company Idea Device has raised $4 million in Series A funding from Sequoia Capital.
IDG, Inventus lead $2m Series A for India's Unbxd
IDG Venture India and Inventus Capital Partners have led a $2 million Series A round of investment in Unbxd, a product recommendation platform for e-commerce companies.
India's Flipkart raises additional $160m
Online retailer Flipkart has raised an additional $160 million in Series E funding from new investors Sofina, Morgan Stanley Investment Management, Dragoneer Investment Group and Vulcan Capital, along with participation from existing investor Tiger Global.It...
Sierra Ventures leads Series C round for China's Social Touch
Chinese social marketing services provider Social Touch has raised $10 million in Series C funding from a group of investors led by Sierra Ventures. Legend Capital and GGV Capital, which backed the company in its previous two rounds, also participated....
Creador makes SE Asia e-payment breakthrough
Creador spent a couple of years looking for ways to enter Southeast Asia’s electronic payments space without much success. “We are a firm believer that there is a shift from cash to credit and debit solutions and e-commerce will push this to the next...
China retail: Asset-heavy to asset-light
Facing competition from e-commerce platforms, China’s traditional offline retailers are moving online – and the ideal combination is a combination of the two. PE investors are seeking opportunity in the disruption
Online tourism: Ticket to ride
Online tourism is on the rise in emerging Asia and numerous venture-backed businesses are looking to hitch a ride on the consumer growth trend. The key is finding the right niche
J-Star buys 'fourth hand' Primagest
Primagest, a firm whose primary business is using optical character recognition (OCR) to turn documents in data, appears every bit the tech-savvy up and comer. However, it has been doing the same thing – in one form or another – for 45 years.
Jungle Ventures backs mobile monetization platform Pokkt
Singapore-based Jungle Ventures has invested an undisclosed amount in Pokkt, a mobile platform that helps digital content developers and publishers monetize their user base through an advertiser-funded model. Angel investor Samir Bangara also participated...
IDG, Temasek-backed mobile game operator eyes $123m HK IPO
Singapore-based mobile game developer I Got Games (IGG), which is backed by IDG Technology Venture Investment and Temasek Holdings, intends to raise as much as HK$950 million ($123 million) through an IPO in Hong Kong.
J-Star ups stake in Primagest
Japanese GP J-Star has completed its acquisition of a majority stake in image processing firm Primagest. The financial details of this second tranche of investment were not disclosed, but a source with direct knowledge of the matter said the mid-market...
Creador to take 20% stake in Malaysia's GHL, back e-pay acquisition
Creador will take a 20% stake in Malaysia-based payment services provider GHL Systems through a private placement of new shares. The capital will in part be used to finance GHL’s proposed acquisition of Australian Securities Exchange-listed e-pay Asia....