News
Tower Capital backs $230m Singapore business services carve-out
Tower Capital is backing a consortium seeking to carve out business services provider Boardroom from Singapore-listed GK Goh Holdings at a valuation of S$312 million ($230 million).
Creador, NewQuest, TR invest Yum Brands India franchisee
Creador, NewQuest Capital Partners, and TR Capital have co-led an INR11.5 billion ($155 million) investment in Sapphire Foods India, a franchisee operator of US fast food giant Yum Brands.
Affinity exits Australia healthcare software business
Affinity Equity Partners has agreed to sell MedicalDirector, an Australia-based clinic management software developer, to Telstra Health for an enterprise valuation of A$350 million ($257 million).
CPE leads $150m Series B for China CDMO
Joinn Biologics, a China-based contract development and manufacturing organization (CDMO), has raised $150 million in Series B funding led by CPE.
Indonesia’s Arise reaches first close on seed fund
Indonesia’s Arise, a seed investor set up by MDI Ventures and financial technology specialist Finch Capital, has reached a first close of unspecified size on its debut fund. The target is $40 million.
Bukalapak gains 25% on debut after $1.5b Indonesia IPO
Indonesian e-commerce platform Bukalapak hit the upper limits of its trading range within minutes of debuting on the Jakarta Stock Exchange following an IDR21.9 trillion ($1.5 billion) IPO.
China cancer screening specialist raises $99m
China Merchants Capital has led a $99.5 million funding round for Berry Oncology Corporation, an early cancer screening spin-out from China-based genetic testing specialist Berry Genomics.
India's MindTickle closes $100m Series E
SoftBank Vision Fund 2 has continued its recent streak of investing in unicorns out of India by leading a $100 million Series E round for sales enablement platform MindTickle at a valuation of $1.2 billion.
Primavera pursues China online education take-private
Primavera Capital Group has submitted a $33.3 million take-private bid for Liulishuo, a China-based operator of an English language learning app. The company's stock has struggled following a recent crackdown on online education platforms in China.
Affirma invests $77m in Korean steelmakers
Affirma Capital has acquired a majority stake in two steel manufacturing subsidiaries of Korea-based industrial conglomerate SeAH Group for $76.9 million.
India's BharatPe achieves $2.8b valuation on $370m Series E
Indian payments player BharatPe has raised $370 million in Series E funding led by Tiger Global Management. The $2.85 valuation means the company joins the country’s fast-growing collection of tech unicorns.
GLP, Sequoia commit $800m to China's Harvest Capital
Harvest Capital, a China-based private equity firm that focuses on the consumer sector, has received a strategic investment of nearly $800 million from GLP – a regional logistics platform and investment manager- and Sequoia Capital China.
India's Stride Ventures hits $74m first close on second fund
Indian venture debt investor Stride Ventures has achieved a first close of INR5.5 billion ($74 million) on its second fund. The overall target is INR10 billion.
Japan's iSpace raises $46m Series C
Japan’s Incubate Fund has led a JPY5.1 billion ($46.5 million) Series C round for iSpace, a local lunar exploration technology developer firming up an ambitious calendar of missions.
China AI drug developer BioMap raises $100m
GGV Capital has led a $100 million Series A round for BioMap, a China-based biological computing platform. It marks the first time the company has sought external funding.
PE-backed Policybazaar, Nykaa file for India IPOs
Insurance portal PolicyBazaar and online-offline cosmetics retailer Nykaa are the latest PE-backed businesses to file for India IPOs in a groundswell domestic public market support for tech start-ups.
Accel-KKR buys majority stake in New Zealand's Unimarket
Accel-KKR, a PE firm created by Accel Partners and KKR, has acquired a majority stake in New Zealand’s Unimarket, a diversified procurement marketplace, for an undisclosed sum.
ESR buys PE-backed real assets manager ARA for $5.2b
ARA Asset Management, an Asia-based real asset manager that was privatized by a PE consortium in 2016, has agreed to be acquired by Hong Kong-listed warehousing platform ESR for $5.2 billion.
Activist target Japan Asia Group agrees asset sale to Carlyle
Japan Asia Group (JAG) has revived plans to sell stakes in two key subsidiaries to The Carlyle Group, six months after a similar transaction was abandoned in the face of opposition from activist investors. The deal is worth JPY58.5 billion ($534 million).
Coller spins out credit fund interests from Ping An subsidiary
A Coller Capital-led consortium has acquired interests in four global credit funds – worth a combined $680 million – from China Ping An Insurance’s overseas investment platform.
China autonomous driving start-up Inceptio raises $270m
Inceptio, a Chinese autonomous driving technology provider focusing on line-haul trucking, has raised a $270 million Series B round led by JD Logistics, Meituan, and PAG.
Tiger Global leads $125m Series D for India's Infra.market
Tiger Global Management has led a $125 million Series D round for Indian construction marketplace Infra.market at a valuation of $2.5 billion. The same investor led a $100 million Series C in February at a valuation of $1 billion.
Openspace hits $120m first close on SE Asia growth fund
Southeast Asia-focused Openspace Ventures has reached a first close of $120 million on its debut growth fund, which will primarily participate in follow-on rounds for existing portfolio companies.
Southeast Asia's FinAccel agrees $2b SPAC merger
FinAccel, operator of Indonesia-focused consumer credit platform Kredivo, has agreed to merge with a US-listed special purpose acquisition company (SPAC) at an enterprise valuation of $2 billion.