News
Accel leads Series C top-up for India's MyGlamm
Accel has led a Series C top-up for MyGlamm, an India-based direct-to-consumer (DTC) beauty products marketplace, taking the overall round to INR5.3 billion ($71.1 million).
China's Genesis targets $1.2b for Fund III
Genesis Capital, a China growth-stage technology investor established by Richard Peng, who previously led the investment program at Tencent Holdings, is seeking $1.2 billion for its third US dollar-denominated fund.
Riverwood leads $200m Series D for SE Asia payments player Nium
Riverwood Capital has led a $200 million Series D round for Singapore-based cross-border payments technology provider Nium at an approximately $1 billion valuation.
China regulatory crackdown threatens PE education deals
China has imposed severe restrictions on private tutoring that appear to undermine the commercial viability of companies in the space, potentially making private equity investment unviable.
Allegro-owned retailer completes $44m Australia IPO
Best & Less Group (BLG), an Australian baby, kids and womenswear retailer, has raised A$60 million ($44 million) through a domestic IPO, facilitating a partial exit for majority owner Allegro Funds Group.
CPE joins Series D for China biotech player TransThera
TransThera, a China-based drug developer, has raised $100 million in Series D funding led by CPE and China Structural Reform Fund.
B Capital taps Goldman Sachs talent for Asia push
B Capital Group has hired Sheila Patel, formerly the Singapore-based chairman of Goldman Sachs Asset Management, as a vice president amid a concerted Asian expansion drive.
Incofin hits $60m first close on India impact fund
Belgium-based Incofin Investment Management, which focuses on financial inclusion and developing market agri-food segments, has reached a first close of $60 million for an India impact fund.
PAG acquires Indian CDMO Acme for $145m
PAG has acquired a controlling stake in Acme Formulation Private, an India-based contract development and manufacturing organization (CDMO), for approximately $145 million.
Asia Partners, Falcon Edge back Indonesia's GudangAda
Asia Partners and Falcon Eduge Capital have led a $100 million Series B round for GudangAda, an Indonesian online marketplace that targets wholesale and small-scale retailers.
China autonomous driving developer CalmCar raises $150m
CalmCar, a China-based provider of self-driving solutions, has closed a $150 million Series C round led by German auto parts supplier ZF Group. The company is targeting an IPO in 2022.
Singapore's PropertyGuru set for $1.35b SPAC merger
PropertyGuru, a PE-backed Southeast Asia real estate portal, has agreed to merge with a special purpose acquisition company (SPAC) established by Peter Thiel and Richard Li, son of Hong Kong billionaire Li-ka Shing, for an enterprise valuation of $1.35...
Sequoia leads $150m Series E for AIOps player Cloudwise
Cloudwise, a Beijing-based artificial intelligence operations (AIOps) provider, has raised $150 million in Series E funding led by Sequoia Capital China.
India's BlackBuck closes Series E, becomes unicorn
BlackBuck, India’s largest trucking platform, has raised $67 million in Series E funding led by US-based Tribe Capital, IFC Emerging Asia Fund, and VEF at a valuation of $1 billion.
China DNA sequencing start-up gets $116m Series C
Chinese next-generation sequencing (NGS) player Geneplus Technology has raised a RMB750 million ($116 million) Series C round led by China Construction Bank’s venture unit CCB International.
Black Ant, GenBridge lead Series B for China coffee chain
M Stand - a China-based coffee shop chain with ambitions to become the Starbucks for China's younger generation - has raised RMB500 million ($77 million) in Series B funding led by Black Ant Capital and GenBridge Capital.
China petcare brand raises $31m
Chongxing, a Chinese petcare brand, has raised RMB200 million ($31 million) in a third tranche of Series B funding from Tencent Holdings, Hony Capital, HighLight Capital, Vertex Ventures China, and Meridian Capital.
Hong Kong sees rush of VC-backed biotech IPO filings
Five VC-backed pre-revenue Chinese biotech companies have filed to list in Hong Kong over the past two weeks, doubling the size of the IPO pipeline in this category.
J-GIA carves out furniture business from Japan's Seven & i
Japan Growth Investments Alliance (J-GIA) has agreed to buy a majority stake in furniture and home décor business Francfranc – which has stores in Japan and Hong Kong – from Seven & i Holdings, the parent of 7-Eleven.
Hong Kong-based crypto exchange FTX raises $900m
FTX, a Hong Kong-headquartered cryptocurrency exchange, has raised $900 million in Series B funding at a valuation of $18 billion, up from $1.2 billion on closing the Series A last year.
Ince hits $450m first close on second China VC fund
Ince Capital, a Chinese venture capital firm established by J.P. Gan, formerly a managing partner at Qiming Venture Partners, has achieved a first close of approximately $450 million on its second fund.
India's HealthifyMe closes $75m Series C
LeapFrong Investments and Khosla Ventures have led a $75 million Series C round for HealthifyMe, a mobile health and fitness app operator with a presence in India and Southeast Asia.
Insight leads Series E for Australia's Employment Hero
Insight Partners has led a $140 million Series E round for Australian human resources services start-up Employment Hero at a valuation of $800 million.
Tiger Global, Avenir lead $108m round for India's Spinny
Spinny, an Indian online used car marketplace, has raised $108 million in Series D funding led by Tiger Global Management and US-based investor Avenir Growth.