News
Temasek, EQT back India renewable energy platform
Singapore’s Temasek Holdings and Sweden’s EQT will commit $500 million to the launch and development of O2 Power, a renewable energy platform in India.
Sony Innovation Fund leads Series D for India’s Zoomcar
Indian self-driving rental platform Zoomcar has raised $30 million in Series D funding with a contribution from a Sony-branded fund managed by Innovation Growth Ventures.
Warburg Pincus returns $2b from China portfolio in 2019
Warburg Pincus generated distributions of $2 billion from its China investments last year, a record annual total for its local operation.
SDG-focused platform to pump $500m into emerging markets
Several public sector organizations have committed $500 million to six funds managed by Bamboo Capital Partners under a new investment platform dedicated to achieving the UN sustainable development goals (SDGs).
Japanese professional services marketplace raises $36m
Japanese start-up Minma, which operates P2P jobs and services marketplace Curama, has raised a JPY4 billion ($36.5 million) Series C round led by Nissay Capital, the VC unit of Nippon Life Insurance.
CITIC Capital seeks to increase McDonald's China stake
CITIC Capital is bidding for a 22% stake in the McDonald’s China and Hong Kong business held by CITIC Group, formerly its parent and now one of several shareholders.
Vietnam's Mekong appoints new partner
Vietnam-based Mekong Capital has named Nguyen Thi Minh Giang (pictured, third right) as a partner with responsibility for talent and culture. It brings the number of partners at the firm to four.
True North buys another unit from India's Glenmark
Mumbai-based Glenmark Pharmaceuticals has agreed to sell its gynecology operations in India and Nepal to a True North portfolio company for $16.2 million.
Green Pine leads Series B for Chinese gene testing player
Chinese gene testing business AmCare Genomics Lab has raised RMB110 million ($16 m) in Series B funding led by Green Pine Capital Partners. This comes four months after the company closed an extended Series A round of RMB30 million.
Ares takes controlling stake in Asia's SSG
Ares Management has agreed to buy a controlling stake in SSG Capital, an Asia-focused credit and special situations fund manager with approximately $6.2 billion in assets under management, including $3.9 billion in dry powder.
MassMutual establishes second VC fund for Southeast Asia
US-based Massachusetts Mutual Life Insurance Company (MassMutual) has established a second venture capital fund for Southeast Asia with a corpus of $100 million.
Zomato acquires India business of Uber Eats
Uber’s foray into food delivery in India has come to an end with the sale of the business to local peer Zomato through an all-stock deal.
Baring Asia closes Fund VII at $6.5b
Baring Private Equity Asia has closed its seventh fund with commitments of $6.5 billion. It is the fourth-largest pan-Asian private equity vehicle ever raised.
Centurium backs China logistics player
Centurium Capital has invested $300 million in ANE Logistics, one of the largest LTL (Less-than-truckload) operators in China.
India's Wipro Ventures raises $150m for second global fund
Wipro Ventures, a venture capital investment arm of the eponymous Indian enterprise software provider, has raised $150 million for its second fund.
Ex-GE Capital executives target $300m for Asia credit fund
Sammasan Capital, a credit investment firm established by two former executives with GE Capital in Asia, is looking to raise up to $300 million for its debut fund.
Affinity loses Australia head
Brett Sutton, who leads Affinity Equity Partners’ operations in Australia, has resigned from the firm after more than 15 years of service.
China's Danke raises $130m in scaled back IPO
Chinese apartment rental platform Danke raised about $130 million in a smaller-than-expected US IPO that was primarily underwritten by existing private equity investors.
Venture Highway raises $79m for second India seed fund
New Delhi-headquartered venture capital firm Venture Highway has raised $78.6 million for its second fund, which will focus on early-stage investments in technology start-ups.
LPs want to see how GPs learn from mistakes in Asia
GPs should be open and transparent with LPs about their previous difficulties in order to demonstrate an ability to learn from past mistakes, the Hong Kong Venture Capital & Private Equity Association’s (HKVCA) Asia Forum heard.
Asia PE fundraising falls 28% in 2019
Capital committed to Asia-focused private equity managers fell 28% year-on-year to $104.4 billion in 2019, largely due to a drop-off in activity in the pan-regional buyout and venture capital segments. Investments and exits were also down on the previous...
China's I-Mab falls on US debut after $104m IPO
China-based I-Mab Biopharma traded as much as 12% lower than initial pricing following the private equity-backed company’s $104 million IPO in the US.
GPs need more than just an ESG mindset
Private equity firms must move beyond approaching investments simply with an ESG mindset and cultivate a more results-driven approach to environment, social and governance issues, industry participants told the Hong Kong Venture Capital & Private Equity...
China Feihe gains drive Morgan Stanley's investment revenue
Projected carried interest payments from Morgan Stanley Private Equity Asia’s (MSPEA) investment in Chinese dairy products company China Feihe were largely responsible for a near fivefold increase in annual investment revenue for the parent bank.
