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Smartphone maker Xiaomi secures $90m in VC funding

Chinese smartphone startup Xiaomi Technology has raised $90 million in funding, which values the company at $1 billion. Existing investors Morningside Technologies, Qiming Ventures and IDG Ventures participated in the financing round as well as new participants...

Yahoo studies part-exit from its Asian assets

Yahoo is considering the sale of a substantial chunk of its 40% interest in Chinese e-commerce company Alibaba Group as well as exiting its 35% holding in Yahoo Japan. The value of the transaction would reportedly be $17-18 billion, allowing the US internet...

Qiming leads $10m Series A round for Appconomy

Qiming Ventures has led a $10 million Series A round of equity and debt funding in mobile application developer Appconomy. The funds will be used to accelerate the firm’s expansion in China.

CVC, hedge funds exchange barbs over Nine debt

Negotiations over CVC-owned Nine Entertainment’s debt burden have descended into a war of words between the company and its hedge fund creditors. CVC stands accused of playing a “precarious game” by insisting it is under no pressure to restructure...

IDG-Accel China Growth Fund invests $10m in BlueSprig

San Francisco-based software application provider BlueSprig has received a $10 million Series A round of funding from IDG-Accel’s China Growth Fund. The vehicle, managed by IDG Capital Partners, invests in consumer tech companies with a link to China.

CVC’s second Asia fund sees value drop by 10%

CVC Asia Pacific’s second regional fund, which closed in 2005 at $1.975 billion, has reportedly lost 10% of its investment value due to failing portfolio companies such as Australian television network Nine Entertainment.

CHAMP PE approved for oOh!media buyout

CHAMP Private Equity has received unanimous approval by the board of directors of Australian out-of-home advertising firm oOh!media to purchase the company for A$163 million ($163 million), capping off the firm’s 2011 on a high and marking its first...

CHAMP buys oOh!media for $163m

CHAMP Private Equity has acquired Australian outdoor advertising firm oOh!media for A$163 million ($163 million), receiving unanimous approval from the company’s directors after failing to receive a higher bid.

Nine's creditors reject debt restructure plan

The creditors of Australian media group Nine Entertainment have rejected a proposal to restructure the company’s A$2.6 billion ($2.59 billion) of senior debt, potentially jamming Nine’s private equity owner, CVC Asia Pacific, with nearly $2 billion...

Blackstone, Bain eye Yahoo bid

Blackstone and Bain Capital are reportedly nearing a bid to buy the whole of Yahoo that could value the company at more than $20 a share. Yahoo’s associates in China and Japan, Alibaba Group and Softbank Corp., may support the private equity consortium...

WI Harper, Matrix back game developer SNS Plus

WI Harper and Matrix Partners have co-led a $4 million round of funding for SNS Plus, an Asia-focused gaming company. SNS Plus has published more than 60 games on Facebook and a further 15 on other social networking platforms.

India’s Maini Global Aerospace gets $10m in PE funding

Maini Global Aerospace (MGA) has received a $10 million investment from a foreign private equity fund. The Indian company will use the funding to build a new factory and is already looking for an additional $50 million to further expand its capacity.

Dreamworks plans PE-backed JV in China - report

Dreamworks Animation – the studio responsible for movies including “Shrek” and “Kung Fu Panda” – is reportedly nearing the launch of a JV production and design studio in Shanghai. The deal is being brokered through a partnership with a consortium...