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Formation Group closes debut US-Asia fund at $357m
Formation Group, a Silicon Valley and Asia-focused venture capital firm established by Brian Koo (pictured), co-founder of Formation 8, has closed its debut fund at $357 million.
IFM invests Australian fashion retailer
IFM Investors’ private equity arm has acquired a significant minority stake in Colette By Colette Hayman, an Australian retailer of handbags and fashion accessories.
Australia's Hostplus commits $65m to seed investor Artesian
Australian superannuation fund Hostplus has committed A$85 million ($65 million) to local seed investor Artesian, taking the venture capital firm’s funds under management to more than A$150 million.
China bike-sharing start-up Bluegogo raises $58m
Chinese bike-sharing start-up Bluegogo has raised a RMB400 million ($58 million) funding round led by domestic GP Black Hole Capital.
US online lender SoFi raises $500m to expand in Australia
US online lender and financial services company SoFi has secured a $500 million Series F funding round led by Silver Lake for an expansion effort into Australia.
Indonesia's Kejora reaches first close on second VC fund
Indonesian VC firm Kejora Ventures has reached a first close of nearly $25 million on its second fund and plans to expand into Thailand with the support of one of its LPs, the Chareon Pokphand family, which controls local conglomerate CP Group.
Kickstart, BPI invest in Zalora Philippines alongside parent
Kickstart Ventures and BPI Capital have joined their parent Ayala Group to buy a 49% stake in the Philippines business of online fashion retailer Zalora.
K2 Global raises $183m for US-Asia VC fund
K2 Global has raised $183 million for its debut venture fund, which aims to promote cross-border development in Asian and US technology start-ups.
China P2P car rental site Atzuche raises $58m Series C
Atzuche, a Shanghai-based peer-to-peer (P2P) car rental start-up, has completed a RMB400 million ($58 million) Series C round of funding.
IDG Capital invests in CreditEase's insurance unit
CreditEase Insurance Agency, an insurance unit of China’s CreditEase Wealth Management, has raised RMB80 million ($12 million) from investors including IDG Capital through a private placement on the National Equities Exchange and Quotations (NEEQ).
AirTree leads $19m investment in Australia's Prospa
AirTree Ventures has led a A$25 million ($19.2 million) investment in Australian financial technology company Prospa.
Hong Kong AR player Banuba raises $5m
Banuba, a Hong Kong-based developer of technologies for augmented reality (AR) mobile applications, has raised $5 million from VP Capital and Larnabel Ventures.
Shanda leads $5.6m round for Indonesia's Nida
Indonesian hotel reservation services provider Nida Rooms has raised a $5.6 million Series A round of funding led by China’s Shanda Group.
China healthcare platform Anxin Doctor raises $29m
Beijing-based Anxin Doctor, a mobile app focused on pediatric and women's healthcare, has completed a RMB200 million ($29 million) Series B round of funding across two tranches.
PE investors join $1.53b financing round for Baidu’s iQiyi
China’s iQiyi.com, a video-streaming platform majority-owned by search giant Baidu, has raised $1.53 billion from a group of private equity investors through the sale of convertible notes.
China’s Meituan-Dianping launches $436m consumer fund
Meituan-Dianping, a China-based online-to-offline (O2O) services platform created through the merger of two rival groups, has launched a RMB3 billion ($436 million) fund that will make early-stage consumer sector investments.
Singapore's Temasek opens San Francisco office
Singapore’s Temasek Holdings has opened an office in San Francisco, expanding its US presence following the establishment of a New York office in 2014.
VIDEO: Jenny Lee, GGV Capital
Jenny Lee, managing partner at GGV Capital, discusses the venture capital environment in China
Temasek, Hillhouse invest in China’s Mobike
Singapore’s Temasek Holdings has made a strategic investment in Mobike, a Chinese smart bike rental services start-up, while existing backer Hillhouse Capital has also re-upped.
China B2B hotel booking site raises $17m
Chinese B2B hotel booking platform Haoqiao.cn has raised RMB120 million ($17 million) in an extended Series B round led by the government-backed National SME Development Fund and China Merchants Capital.
Japan's Mercari buys VC-backed e-commerce player
Japanese e-commerce company Mercari has agreed to acquire domestic competitor Zawatt, setting up an exit for a number of venture capital backers.
500 Startups appoints Edith Yeung as Greater China partner
Silicon Valley-based early-stage investor 500 Startups has appointed Edith Yeung as Greater China partner, replacing Rui Ma who left the firm last year to launch her own fund.
Kalaari leads $15m round for India's Urban Ladder
Kalaari Capital has led a INR1 billion ($15 million) funding round for Indian online furniture retailer Urban Ladder.
Hillhouse, FountainVest target China jobs site Zhaopin
Hillhouse Capital and FountainVest Partners are seeking to buy Zhaopin in a deal worth more than $1.1 billion, working in partnership with Australia’s Seek, the majority shareholder in the Chinese recruitment website.