News
China O2O medicine platform raises $150m
Chinese online-to-offline (O2O) medicine retailer Dingdang Kuaiyao has raised RMB1 billion ($150 million) in an extended Series B round featuring Dragon Gate Investment Partners.
Sinovation seeks $1b for China AI fund
Sinovation Ventures is looking to raise $1 billion for a growth-stage private equity fund that will focus on introducing artificial intelligence technologies (AI) to traditional industries.
SAIF India closes $400m VC fund, rebrands as Elevation Capital
SAIF Partners India has closed its fourth fund at $400 million within a few weeks of launch and rebranded as Elevation Capital.
Legend closes eighth China VC fund on $500m
Legend Capital has closed its eighth US dollar-denominated venture capital fund at the hard cap of $500 million, continuing the rich vein of China VC fundraising.
Sequoia joins $22.5m round for Bangladesh's ShopUp
Sequoia Capital India and US-based Flourish Ventures have led a $22.5 million Series A round for Bangladesh B2B platform ShopUp. It is both firms’ first investment in the country.
FountainVest poised for first close on latest China fund
FountainVest Partners has set a target of $2.8 billion for its fourth China-focused fund, with a first close of more than $1 billion expected as soon as this week.
CPE leads $224m round for China cancer diagnostics business
3D Diagnostic, a diagnostics spinout from Chinese tumor immunotherapy specialist 3D Medicines, has raised RMB1.5 billion ($224 million) in funding led by CPE, formerly known as CITIC Private Equity.
OTPP leads $360m round for Asia data center business
Ontario Teachers’ Pension Plan (OTPP) has led a $360 million equity investment in Singapore-based data center developer Princeton Digital Group (PDG).
Australia's V2Food raises $55m Series B
Australian alternative protein producer V2Food has raised a A$77 million ($55 million) Series B round featuring Sequoia Capital China and Temasek Holdings.
Ping An gives third-party investors exposure to PE portfolio
The international investment and asset management arm of China’s Ping An Insurance has raised $875 million through a secondary sale of part of its private equity portfolio.
AVCJ Awards 2020 - voting opens
Voting for the 2020 AVCJ Private Equity & Venture Capital Awards is now open and runs until November 3.
China's Source Code raises $567m for latest renminbi fund
Source Code Capital, a Chinese VC firm founded by Yi Cao, formerly a partner at Sequoia Capital China, has closed its fourth renminbi-denominated fund at RMB3.8 billion ($567 million).
Japan's Drone Fund secures anchor LPs for third vintage
Japan’s Drone Fund has reached a first close of undisclosed size on its third VC fund, with SMBC Nikko Securities and NTT Docomo coming in as anchor LPs. The target is JPY10 billion ($95 million).
Japan's aStart launches second dedicated space tech fund
Japanese VC investor aStart has raised JPY3.8 billion ($36 million) for its second fund dedicated to space tech. The vehicle remains open.
L Catterton exits RM Williams to Australian billionaire
L Catterton Asia has sold Australian bootmaker R.M. Williams to Tattarang, a private investment group established by Andrew Forrest, majority shareholder and former CEO of Fortescue Metals Group.
Cenova leads $37m round for China's Nanyan Insurtech
Chinese insurance platform Nanyan Insurtech has raised a RMB250 million ($37 million) Series C round led by Cenova Ventures. SIG China and BlueRun Ventures both re-upped.
China's Miniso sees modest trading debut after $608m US IPO
Miniso, a Chinese low-cost retailer backed by Hillhouse Capital and Tencent Holdings, posted a small gain on its US trading debut following a $608 million IPO.
Tech, flexibility indispensable in ASEAN logistics
Logistics operators navigating Southeast Asia’s challenging fragmentation against the backdrop of COVID-19 must embrace digital upgrades and flexibility in terms of service offering.
Singapore auto marketplace Carro raises $110m
Singapore used car marketplace Carro has raised S$150 million ($110 million) in debt and equity, including an unspecified equity contribution from Japan’s MS&AD Insurance and Mitsubishi Corp.
Hillhouse targets $12b for separate buyout, growth funds
China's Hillhouse Capital has split its current fundraising effort into separate buyout and growth strategies – having raised a single pool in the previous vintage – and is seeking $12 billion across the two funds.
China EV maker Enovate raises $742m
Enovate, a Chinese new energy vehicle manufacturer, has raised RMB5 billion ($742 million) in a funding round led by local government industry guidance funds and state-owned banks.
Vision Knight leads Series B for China education app
Shaonian Dedao, a Chinese education app for teenagers led by former CCTV host Quanlin Zhang, has raised RMB200 million ($29 million) in a Series B funding round led by Vision Knight Capital.
Swedish GP buys Singapore biotech supplier, SBI exits
Swedish private equity firm Summa Equity has acquired a controlling stake in Singapore-based biotech developer Sengenics for an undisclosed sum, setting up an exit for Japan’s SBI Holdings.
Thailand’s 9 Basil raises $120m for debut fund
9 Basil, a Thailand-based GP launched last year by local multi-family office Blueprint Forest, has raised $120 million for its debut fund.
