TMT
China’s Toutiao acquires VC-backed selfie app Faceu
Chinese private equity-backed online content platform Toutiao has acquired Faceu, a camera app that has received funding from IDG Capital and Lightspeed China Partners.
Dell Foundation in $13.5m round for Indian edtech start-up
Indian education technology start-up IMAX Program has received a $13.5 million funding round from a group of venture investors including the Michael & Susan Dell Foundation (MSDF).
Indonesia's Go-Jek scales up with Series E round
Indonesian ride-hailing and delivery platform Go-Jek is set to achieve a post-deal valuation of more than $5 billion through a funding round that was expected to reach $1.5 billion but has seen the addition of several strategic backers.
Gobi's Victor Chua leaves to launch SE Asia VC firm
Victor Chua has left a position as vice president focusing on Southeast Asia at Gobi Partners to launch his own Malaysia-based VC firm, Vynn Capital.
Chinese PE firm to acquire Spain’s Imagina Media
Orient Hontai Capital, a PE unit of China’s Orient Securities, has agreed to buy a 53.5% stake in Imagina Media Audiovisual, part of Spain-based Mediapro Group. The transaction values Imagina at EUR1.9 billion ($2.35 billion).
Mahindra participates in $40m round for India's Zoomcar
Mahindra & Mahindra will invest up to INR1.76 billion ($27 million) in Zoomcar as part of a $40 million round for the Indian car-rental start-up. The rest of the capital comes from existing backers.
Hillhouse, Sequoia join $2.5b round for JD.com's logistics unit
Chinese online retailer JD.com has raised approximately $2.5 billion for its logistics subsidiary from investors including Hillhouse Capital and Sequoia Capital China.
China’s Easyhome raises $2b from Alibaba, PE investors
Alibaba Group has joined a group of PE investors to acquire a 36% interest in Beijing Easyhome Furnishing, China’s second-largest home improvement supplies and furniture chain operator, in a deal worth RMB13 billion ($2 billion).
Fullerton leads $87m round for India's Lendingkart
Fullerton Financial Holdings has led an $87 million Series C round for Indian financial technology platform Lendingkart.
China’s Club Factory raises $100m Series C
Club Factory, a China-based e-commerce platform that sells fashion products overseas, has raised $100 million in a Series C round of funding from existing investors IDG Capital Bertelsmann Asia Investment (BAI).
VC-backed Chinese wearables maker seals $110m US IPO
Huami, a Chinese wearables manufacturer that has a strategic relationship with smart phone maker Xiaomi and several venture capital backers, has raised $110 million in its US IPO.
India's HealthifyMe gets $12m Series B
Sistema Asia Fund, a VC unit of Russian conglomerate Sistema, has led a $12 million Series B funding round for Indian fitness lifestyle app operator HealthifyMe.
Intudo doubles debut Indonesia fund
Indonesian early-stage VC investor Intudo Ventures has raised $20 million for its debut fund - having closed the vehicle last year at $10 million but subsequently reopened it due to increased investor interest.
Sinovation seeks $500m for China fund
Chinese early-stage venture capital firm Sinovation Ventures is looking to raise $500 million for its fourth US dollar-denominated fund.
B Capital closes Asia-US tech fund at $360m
B Capital Group, a venture capital firm established by Facebook co-founder Eduardo Saverin, has raised $360 million for a fund focused on start-ups that are ready to scale globally.
Naspers, Meituan-Dianping invest in India's Swiggy
Indian online food-ordering and delivery platform Swiggy has raised a $100 million Series F round led by South African internet giant Naspers Group, with participation by China-based online-to-offline (O2O) local services provider Meituan-Dianping.
China’s JD.com, Cosmo Lady launch $159m M&A fund
Chinese online retailer JD.com has formed an M&A fund with Hong Kong-listed clothing producer and retailer Cosmo Lady. The target size is RMB1 billion ($159 million).
ChrysCapital exits US-based LiquidHub to Capgemini
French IT services company Capgemini has acquired US-based customer engagement firm LiquidHub, providing an exit for Indian private equity firm ChrysCapital.
CITIC PE leads $55m round for China’s BroadLink
CITIC Private Equity has led a RMB343 million ($55 million) Series D round for China’s smart home technology solutions provider BroadLink. It is said to be the largest funding round for a domestic start-up in this market segment.
VC holding periods: Delayed gratification
The traditional IPO exit timeline for early-stage investors is being pushed out as technology companies raise additional private funding rounds. A more thoughtful approach to securing liquidity is often required
IDG Capital backs Chinese electric car maker
IDG Capital has invested RMB1 billion ($159 million) in Skio Matrix, a Chinese company that manufactures electric cars and batteries.
CDH leads $100m Series D for China’s Blued
CDH Investments has led a $100 million Series D round of funding for Blued, a leading gay dating app in China, with participation from UG Capital.
Warburg Pincus abandons Tata Technologies investment
Warburg Pincus has called off a planned $360 million investment in Tata Technologies, the engineering outsourcing and product development IT services arm of Indian conglomerate Tata Group.
China’s Ping An raises $2.2b for healthcare, fintech units
Ping An Insurance Group has raised $2.2 billion in private equity funding for its three technology businesses: Ping An Good Doctor, Ping An Healthcare Management, and OneConnect Financial Technology.