Pine Labs, an India payments start-up backed by MasterCard, PayPal, and Sequoia Capital India, has acquired Fave, a Malaysian counterpart also backed by Sequoia India, for $45 million.
Southeast Asia-focused ride hailing and local services platform Grab has agreed to go public in the US through a merger with a special purpose acquisition vehicle (SPAC) at an enterprise valuation of $30.4 billion.
Lever VC, a Hong Kong-based food tech investor, has achieved a fourth close of $46 million on its debut fund, claiming 2.3x growth in the value of the portfolio since 2019.
Lakeshore Capital, a mid-market private equity firm focused on Thailand and the Greater Mekong region, has closed its second fund oversubscribed at the hard cap of $150 million.
China's 5Y Capital has raised nearly $2 billion for its latest US dollar and renminbi-denominated funds, securing $1.7 billion for the US dollar pool and around RMB1.9 billion ($290 million) for the local currency vehicle.
Affirma Capital has reached a first close of KRW443 billion ($403 million) on its fifth Korea-focused fund, while simultaneously announcing a $181 million investment in SK Telecom’s mobility business.
Indian private equity firm True North has confirmed a partial exit from local insurance portal PolicyBazaar.
India’s Alteria Capital has achieved a first close of INR13.2 billion ($177 million) on its second venture debt fund. The target is INR15 billion.
Anjuke, a Chinese online property marketplace controlled by classifieds player 58.com, has filed for a Hong Kong listing. It follows a $250 million pre-IPO funding round featuring two Hong Kong property developers.
Falcon Edge Capital has led a $110 million growth round for India’s OfBusiness, a B2B platform for industrial sector services, at a post-money valuation of $800 million.
Brii Biosciences, a three-year-old Chinese biotech start-up that has raised approximately $415 million in private funding from the likes of Sequoia Capital China, Boyu Capital, and Yunfeng Capital, has filed for a Hong Kong IPO.
Gupshup, an India-based messaging services provider that helps corporate customers execute marketing strategies, has raised $100 million in funding at a valuation of $1.4 billion.
Suzhou Abogen Biosciences, a Chinese mRNA vaccine provider, has raised RMB600 million ($92 million) led by PICC Capital - an investment unit under People’s Insurance Company of China - and state-backed SDIC Venture Capital.
Tiger Global Management has led a $502 million Series E round for ShareChat, which claims to be India’s largest social media platform, at a valuation of $2.1 billion.
Orami, an Indonesian mother-and-baby-focused e-commerce platform backed by numerous venture capital investors, has been acquired by Sirclo, a local e-commerce enabler. Financial details were not disclosed.
Baring Private Equity Asia has invested $100 million in Hutchison China MediTech (HutchMed), a US and London-listed drug discovery business that has two fully commercialized oncology products in China.
China-based food and agriculture specialist Hosen Capital has closed its third US dollar-denominated fund above target at $800 million.
The New York Exchange is set to delist Chinese apartment rental service provider Danke, having halted trading in the stock on March 15 because of poor information disclosure.
Australian graphic design platform Canva has more than doubled its valuation to $15 billion with a new $71 million growth round. It was valued at $3.2 billion 18 months ago.
Prosus Ventures and TPG Growth have co-led a $350 million Series E round for India’s API Holdings, best known as the parent of pharmacy portal PharmEasy.
Long Hill Capital closed its third US dollar-denominated fund at $300 million with a remit to pursue healthcare and longevity-related opportunities, which includes start-ups focused on wellness and services aimed at aging consumers.
DST Global and Coatue Management have led a $700 million Series D for China-based online fresh produce delivery business Dingdong Maicai. Existing investors including CMC Group re-upped.
SoftBank Vision Fund 2 has led a $300 million round for Meesho, India’s leading social e-commerce start-up, at a valuation of $2.1 billion.
Trax, a Singapore-headquartered start-up that uses computer vision technology to help retailers link sales to in-store and on-shelf positioning, has secured $640 million in Series E funding led by SoftBank Vision Fund 2 and BlackRock.