USA
Portfolio: CITIC Capital Partners and Elgin Equipment
When CITIC Capital Partners joined Audax Group in acquiring Elgin Equipment, its brief was to re-position the clean coal equipment business from low-growth America to high-growth China
DCM bets bigger on China
DCM's latest global fund is smaller than its two predecessors because Silicon Valley-based general partners, Carl Amdahl and co-founder Dixon Doll, are stepping down. As a result, there will be fewer US investments, but China is expected to play a more...
Baring Asia, Hony agree Giant Interactive take-private
Chinese online game developer Giant Interactive has accepted a buyout offer from a consortium including Baring Private Equity Asia, Hony Capital and company management. It values the New York Stock Exchange-listed business at approximately $2.9 billion.
PE-backed Alibaba confirms US listing
Private equity-backed Chinese e-commerce giant Alibaba Group has decided to go public in the US, ending months of speculation.
CalPERS CIO Joseph Dear dies following cancer battle
Joseph Dear, chief investment officer at the California Public Employees’ Retirement System (CalPERS), has died. Dear had been battling prostate cancer and last summer stepped back from his role to undergo treatment.
CalPERS lowers investment risk, trims PE allocation
California Public Employees’ Retirement System (CalPERS), the largest public pension fund in the US with more than $277 billion in assets, will reduce its target allocation for private equity from 14% to 12%. The move is part of a broader effort to...
TPG, Fosun set for $369m China healthcare take-private
TPG Capital and Fosun Industrial have teamed up with the CEO of Chinese healthcare provider Chindex International have won board approval to privatize the NASDAQ-listed company. The deal values Chindex at approximately $369 million.
Japan's Digital Garage leads $10m round for Betaworks
Japanese incubator Digital Garage (DG) has invested $10 million in Betaworks, a New York-based early-stage tech investor. DG contributed $7.5 million to the round with the balance coming from a group of angel investors.
China’s Sungy Mobile buys VC-backed app store Getjar
Sungy Mobile, a VC-backed Chinese app developer that went public on NASDAQ last year, has acquired GetJar, a US-based mobile ad network. GetJar previously raised three rounds of VC funding, two led by Accel Partners and the third led by Tiger Global.
Jafco-backed Eleven Bio raises $50m in NASDAQ IPO
Eleven Biotherapeutics, a US biopharma company firm backed by Japan’s Jafco Ventures, has raised $50 million through its NASDAQ IPO – short of the $69 million initially sought.
Portfolio: STIC Investments and Access Bio
STIC Investments backed Access Bio when the Korean-led malaria testing technology player wanted to buy key components and expand output. Now KOSDAQ-listed, the company has its eye on specialty diagnostics
Held to account: The Big Four in China
A legal ruling might ban the Big Four accounting firms’ China affiliates from working on US-listed Chinese companies. VCs aren’t worried about IPO prospects, but there are longer-term concerns
VCs pump another $13m into PubMatic
Nokia Growth Partners (NGP) has led a $13 million round of funding for PubMatic, an advertising platform based in India and US. Existing investors August Capital, Draper Fisher Jurvetson, Helion Ventures and Nexus Venture Partners also took part in the...
China-focused Infinity Group invests in US oil assets
Infinity Group, the Israel-based PE firm created by China Development Bank and local conglomerate IDB Group, has teamed up with oil technology firm Glori Energy to acquire oil-producing assets in Texas from Petro-Hunt for $40 million.
Halifax-backed Envision Pharma acquires Australia's ProScribe
Envision Pharma Group, a scientific communication company backed by US-based private equity firm The Halifax Group, has acquired Australian medical writing firm ProSribe in a move to expand its Asian footprint.
Legend re-ups in US sports tech manufacturer Zepp
Legend Capital has re-upped in athlete training technology developer Zepp Labs, participating in a $15 million Series B round of funding led by GGV Capital. Bertelsmann and Cherubic Ventures also committed capital.
US judge imposes suspension on Big Four accounting firms' China units
A US judge has ruled that the China-based units of the Big Four global accounting firms should be suspended from auditing US-listed companies for the next six months. They are accused of failing to disclose information to US regulators investigating Chinese...
Wakabayashi Fund invests in MIT Holding
Wakabayashi Fund, a private equity firm based in Tokyo and New York, has invested in US healthcare firm MIT Holdings. The financial details of the transaction were not disclosed.
Boston Scientific leads round for VC-backed Amaranth Medical
Amaranth Medical, a medical device manufacturer backed by Singapore’s Bio*One Capital and Phillip Private Equity, has received a Series C round of funding from US-listed Boston Scientific.
Apollo holds $18.4b final close on global Fund VIII
Apollo Global Management has held a final close on its flagship global fund - Apollo Investment Fund VIII - at $18.4 billion, the largest of its kind since the global financial crisis.
LightInTheBox to buy VC-backed e-commerce player Ador
LightInTheBox, the venture capital-backed Chinese online retailer that went public in the US last year, has acquired US social e-commerce site Ador for an undisclosed sum.
SAIF leads $30m round for battery maker Amprius
SAIF Partners has led a Series C round of funding worth $30 million for Amprius, a lithium-ion battery manufacturer headquartered in the US but with production lines in China. All of the company’s existing investors also participated.
Global PE fundraising reaches $431b in 2013 – Preqin
Private equity firms raised $431 billion globally in 2013, up 13% on 2012 levels, largely thanks to robust activity in North America and Europe. It is the highest amount in any year since the global financial crisis.
INCJ joins Japanese companies to form $300m start-up fund
The Innovation Corporation Network of Japan (INCJ) has joined a consortium of 10 Japanese companies to set up a $300 million start-up fund to be managed by Silicon Valley-based venture firm WiL.