News
Blackstone to acquire India's Essel Propack
The Blackstone Group has agreed to acquire a majority stake in Indian packaging company Essel Propack (EPL) in a deal that could see the private equity firm pay as much as INR32.1 billion ($461 million).
Indonesia’s HappyFresh gets $20m Series C
Indonesia-based online grocery delivery platform HappyFresh has raised a $20 million Series C round led by Mirae Asset Capital and South Korean internet conglomerate Naver.
ADIA, NIIF invest in airport business of India's GVK
Abu Dhabi Investment Authority (ADIA) and India’s National Investment & Infrastructure Fund (NIIF) have agreed to acquire a 49% stake in the airport businesses of India’s GVK Power & Infrastructure.
PE-backed Luckin Coffee files for US IPO
Luckin Coffee, China’s second largest coffee shop chain, which counts Centurium Capital and Joy Capital among its private equity investors, has filed to list in the US.
Warburg Pincus leads Series D for China's Gaosi Education
Gaosi Education, which provides tutoring services to schools and other educational institutions in China, has raised $140 million in Series D funding led by Warburg Pincus.
Globis raises $321m for Japan VC fund
Japanese venture capital firm Globis Capital Partners has raised JPY36 billion ($321 million) for its sixth fund. The overall target of JPY37.5 billion is expected to be reached by June.
TPG backs European jewelry brand with strong China focus
A TPG Capital-led consortium will acquire a 30% stake in APM Monaco, a jewelry brand that was established in Europe nearly 40 years ago and now has its largest retail footprint in China.
Malaysia's RHL Ventures launches SME fund
RHL Ventures has launched a MYR100 million ($24.2 million) fund focused on small to medium-sized enterprises (SME) with a cornerstone investment from government-owned SME Corp Malaysia.
BlackRock leads $150m round in China’s Luckin Coffee
Chinese coffee shop chain Luckin Coffee has raised $150 million in an extended Series B round at a valuation of $2.9 billion. It was led by BlackRock, which committed $125 million to the deal.
AVCJ daily bulletin returns April 23
AVCJ's daily bulletin will take a short break for the Easter holiday. Publication will resume on April 23.
I Squared exits India's Amplus
Petroliam Nasional (Petronas), Malaysia’s state-run oil and gas company, has agreed to acquire Amplus Energy Solutions, an Indian solar power developer backed by I Squared Capital.
Gaw Capital backs Chinese restaurant services platform
China-based Candao, which helps restaurants manage their online food delivery businesses, has raised RMB100 million ($14.9 million) in a Series A round led by Hong Kong-based Gaw Capital Partners and Beyond Ventures.
China early-stage investment round-up
Venture capital deals involving Pantera Capital, Third Rock Ventures, Hillhouse Capital, XVC, Angel Plus, SIG, Maxim Capital, Panda Capital, Baidu Ventures, and Matrix Partners China
Monk's Hill appoints two Southeast Asia partners
Singapore-based Monk’s Hill Ventures has appointed Michele Daoud (pictured) and Justin Nguyen as partners to expand deal sourcing capacity and portfolio support across Southeast Asia.
DCP closes debut China fund at $2.5b
DCP Capital – a PE firm established by David Liu (pictured) and Julian Wolhardt, who previously held leadership positions with KKR in China – has closed its debut fund with around $2.5 billion in commitments. It comprises a US dollar-denominated tranche...
Chinese new energy vehicle maker Enovate raises $298m
China-based Enovate, which designs and produces new energy-powered vehicles, has raised RMB2 billion ($298 million) in a Series A round.
NewQuest seeks $850m for fourth Asia secondaries fund
NewQuest Capital Partners, an Asia-focused secondaries specialist in which TPG Capital acquired a minority stake last year, has set a target of $850 million for its fourth fund.
TA invests in India fertility business
TA Associates has acquired a significant minority stake in Indira IVF, an India-based provider of infertility services.
Jade Invest acquires China's Pudow Water
Chinese mid-market private equity buyout firm Jade Invest has acquired a controlling stake in Shanghai-based water purification company Pudow Water for an undisclosed sum.
INCJ-backed Japan Display agrees $2.1b foreign bailout
Japan Display, an electronics supplier backed by Innovation Network Corporation of Japan (INCJ), has agreed a JPY232 billion ($2.1 billion) bailout, including an approximately $714 million investment from China’s Harvest Fund Management.
Legend leads round for Chinese self-driving tech specialist
China and US-based autonomous driving technology developer Black Sesame has completed its Series B round of funding, raising around $100 million led by Junhai Chuangxin, an investment vehicle under Legend Capital.
Abraaj executives arrested on fraud charges
Two executives from The Abraaj Group, including founder Arif Naqvi, have been arrested on US fraud charges relating to the collapse of the growth markets-focused private equity firm.
ADB, Kaizen back Philippines education business
The Asian Development Bank (ADB) and education-focused Kaizen Private Equity have invested PHP1.6 billion ($31.5 million) in Phinma Education Holdings, the tertiary education arm of Philippines-based conglomerate Phinma.
Proventeus exits Philippines franchise of Kenny Rogers Roasters
Proventeus Capital, a Southeast Asia-focused middle-market buyout firm, has exited the Philippines franchise of casual dining chain Kenny Rogers Roasters to the company’s founders, receiving PHP1.79 billion ($34 million).
