News
Ola, VCs back India scooter sharing player Vogo
India-based ride-hailing platform Ola has committed $100 million worth of inventory to domestic scooter sharing business Vogo. It is part of a Series A round that also features Matrix Partners India and Stellaris Venture Partners.
Clifford Chance launches Singapore legal tech incubator
Clifford Chance has launched a start-up incubator focused on legal technology and innovation in Singapore.
Strattam buys majority stake in Australian software specialist
US-based private equity firm Strattam Capital has acquired a majority stake in Australian workforce management software-as-a-service provider Acendre Partners for an undisclosed sum.
PE-backed AsiaInfo raises $115m in Hong Kong IPO
AsiaInfo Technologies, a Chinese telecom software provider that was privatized by a CITIC Capital-led consortium in 2014, has raised HK$899.3 million ($115 million) in its Hong Kong IPO.
AVCJ daily bulletin returns January 2
AVCJ's daily bulletin is taking a short break for the festive holiday season.
Actis exits India's Symbiotec to MOPE, Invascent
Motilal Oswal Private Equity (MOPE) and healthcare-focused GP Invascent Capital have invested in Indian pharmaceutical developer Symbiotec Pharmalab, providing an exit for Actis Capital.
Chinese online truck logistics platform raises $170m
Fuyoukache, a Chinese online truck logistics platform, has raised $170 million in a Series D round led by a Bank of China investment unit and Matrix Partners China. Prospect Avenue Capital also participated.
Bain closes fourth Asian fund at $4b hard cap
Bain Capital has reached a first and final close on its fourth Asia-focused private equity fund at the institutional hard cap of $4 billion. Employees of the firm and related parties will contribute a further $650 million.
PEP-backed Intellihub acquires New Zealand smart meter business
Intellihub Group, an Australian smart meter company formed earlier this year by Pacific Equity Partners (PEP) and Landis+Gyr, has acquired the metering data and service business of New Zealand power supplier Mercury for NZ$270 million ($185 million).
TNB Ventures, Aura Group close $23m VC fund
Singapore’s TNB Ventures and Australia’s Aura Group have jointly closed a S$31.1 million ($27 million) venture capital fund that will invest in data-driven B2B companies across Southeast Asia.
Fosun-owned Henlius Biotech files for Hong Kong IPO
Shanghai Henlius Biotech, a Chinese drug developer controlled by Fosun Group, has filed for a Hong Kong IPO. Third-party investors include Loyal Valley Capital and China International Capital Corporation (CICC).
Australia's Advent promotes Rob Hooke to partner
Australian lower middle market private equity firm Advent Partners has promoted Rob Hooke to partner.
ICG backs spin-out of Standard Chartered Private Equity
Intermediate Capital Group (ICG) has agreed to support a spin-out of Standard Chartered’s private equity business, taking the majority of the remaining $1 billion in assets off the bank’s balance sheet.
FountainVest closes debut renminbi fund at $246.5m
FountainVest Partners, which has raised three US dollar-denominated China-focused funds, has closed its first renminbi vehicle at RMB1.7 billion ($246.5 million).
China drug trading platform Yaoshibang raises $133m Series D
Chinese B2B pharmaceutical trading and education platform Yaoshibang has raised $133 million in a Series D round of funding led by Tiger Global Management, H Capital, and DCM.
Junshi Biosciences seeks up to $414m in HK offering
Shanghai Junshi Biosciences, a Chinese drug developer backed by Hillhouse Capital, is seeking to raise up to HK$3.2 billion ($414 million) through a Hong Kong IPO.
Multiples invests $35m in Indian NBFC
Indian private equity firm Multiples Alternative Asset Management has invested INR2.5 billion ($34.8 million) in non-banking finance company (NBFC) APAC Financial Services.
Natixis merges regional PE units
The asset management business of Natixis has launched a global private equity firm by merging three existing PE affiliates, including Singaporean fund-of-funds Eagle Asia Partners.
Everstone’s IndoSpace closes India logistics fund at $580m
IndoSpace, a joint venture between Everstone Group and US-based Realterm Global that develops Indian industrial and logistics facilities, has closed its third fund at $580 million.
ADB backs Creador’s Southeast Asia fund
Creador has raised $50 million for its fourth Southeast Asia and India-focused private equity fund from the Asian Development Bank (ADB).
Everstone, GLP to invest $500m in India logistics
Everstone Group has established a partnership with Singapore-based warehouse operator GLP to invest $500 million in India’s logistics ecosystem.
Accel, Qualcomm join $35m round for India's Ninjacart
Accel Partners and Qualcomm Ventures have joined an INR2.5 billion ($35 million) funding round for Indian agriculture industry platform operator Ninjacart.
PE-backed WuXi Apptech trades flat on Hong Kong debut
PE-backed WuXi AppTec, a contract pharmaceutical R&D services provider, traded flat on its Hong Kong debut, following an IPO of HK$9.1 billion ($1.1) billion.
DCM promotes Ray Zhao to partner
DCM, which targets venture capital investments in China, Japan, and the US, has promoted Beijing-based Ray Zhao to partner.
