News
Chinese hotel digital services provider secures $14m Serie A
Htrip, a China-based hotel digital services platform, has raised RMB100 million ($14 million) in an extended Series A funding round, led by Shenzhen Venture Capital.
Chinese cloud-based photo agency raises $14m
Fortune Capital and GF Xinde Investment have led an RMB100 million ($14 million) Series B round for VPhoto, a Chinese cloud-based photo service provider. Tzitzit Asset also participated.
IHH leads $20m round for Singapore science ministry spin-out
Lucence, a cancer screening start-up that spun out from Singapore’s Agency for Science, Technology and Research in 2016, has raised $20 million in Series A funding.
Carlyle makes partial exit from India's SBI Life
The Carlyle Group has made a partial exit from India-listed life insurance company SBI Life, selling one-third of its stake for approximately INR28.2 billion ($392 million).
Baring Asia to buy Lumenis from XIO for $1b
Baring Private Equity Asia has agreed to buy Lumenis, an Israel-headquartered medical devices manufacturer that counts Asia as its largest market, from XIO Group for a valuation of $1 billion.
Vietnam's Sendo raises $61m Series C
Vietnamese e-commerce company Sendo has received $61 million in Series C funding from a group of investors including SBI Group and SoftBank Ventures Asia.
Maritime start-up accelerator launched in Singapore
US-based accelerator business Techstars and Singaporean logistics giant Eastern Pacific Shipping have teamed up for a maritime start-up accelerator in Singapore.
Chinese guidance fund secures $21b in LP commitments
China’s Ministry of Finance has rallied state-owned enterprises (SOEs) and local governments to support a RMB147.2 billion ($20.9 billion) fund that will drive a transformation of the country's manufacturing sector.
Warburg Pincus, Bessemer invest India's Perfios
Warburg Pincus and Bessemer Venture Partners have led a $50 million Series B round for Indian financial technology provider Perfios.
Japan's SmartNews secures $92m Series E
Japan-based news app SmartNews has closed its Series E round at $92 million with contributions from Japan Post Capital and Globis Capital Partners.
Allegro acquires Australasian furniture retail portfolio
Allegro Funds has agreed to acquire a portfolio of Australian and New Zealand furniture and household goods brands – including Best & Less, Harris Scarfe, Postie, and Debenhams Australia – from South Africa-based retail holding company Steinhoff International.
Hamilton Lane appoints Asia investment heads
Hamilton Lane has named Mingchen Xia (pictured) and Collwyn Tan as co-heads of the firm’s investment business in Asia. They already cover fund investments and co-investments, respectively, in the region.
Japanese space rental platform files for IPO
SpaceMarket, a Japanese start-up that lists vacant spaces available for rent for corporate events, is looking to raise up to JPY933.2 million ($8.5 million) through a domestic IPO.
Chinese GPs back $120m Series B for OPay
A group of Chinese investors including Gaorong Capital and Sequoia Capital China have joined a $120 million Series B round for Nigerian logistics and payments technology company Opay.
Xiaomi-backed smart home player raises $100 million
Lumi United, a Chinese smart home appliances and internet-of-things (IoT) solutions provider backed by smart phone maker Xiaomi, has raised $100 million in the third tranche of a Series B funding round.
Advent buys Indian biopharma player
Advent International has agreed to acquire a controlling position in Bharat Serums and Vaccines, an Indian biopharmaceuticals supplier focused on the women’s health segment.
MBK, Mirae buy stake in Asia assets of Korea's CJ CGV
MBK Partners and Mirae Asset Daewoo Private Equity have agreed to pay KRW333.6 billion ($286 million) for a minority position in the China and Southeast Asia assets of Korean cinema chain operator CJ CGV.
GPs see more cross-border M&A within Asia – AVCJ Forum
The Asian M&A market, typically characterized by cross-border deals with Western entities, is seeing more intra-regional activity, industry participants told the AVCJ Forum.
PE-backed Chinese SaaS player pursues US IPO
CDP, a Chinese human resources software-as-a-service (SaaS) platform that counts NASDAQ-listed 51job and China Broadband Capital (CBC) as its largest external investors, has filed for an IPO in the US.
Norwest raises $2b for latest global VC fund
Norwest Venture Partners, a US-headquartered investor with a strong presence in India, has closed its latest global VC fund at $2 billion. It is the firm’s largest vehicle to date.
Blackstone commits $244m to India's Future Lifestyle Fashions
The Blackstone Group has agreed to invest INR17.5 billion ($244 million) in India-listed clothing retailer Future Lifestyle Fashions (FLF).
KKR targets $12.5b for fourth pan-Asian fund
KKR is looking to raise $12.5 billion for its fourth pan-Asian fund. It is likely to be the largest-ever Asia-focused, US dollar-denominated fundraise, surpassing Hillhouse Capital’s $10.6 billion close last year.
NewQuest collects $1b for Asia secondaries fund
NewQuest Capital Partners has closed its fourth secondaries fund at the revised hard cap of $1 billion, comfortably exceeding the $540 million raised in the previous vintage.
Tech, policy changes the main risks in energy – AVCJ Forum
Technology disruption and short-term policy changes are the two key challenges facing investors in the energy sector, industry participants told the AVCJ Forum.
