News
Temasek's portfolio rebounds to record high
Temasek Holdings shook off last year’s retraction in value to post its highest shareholder return in 11 years, with the overall portfolio reaching a record S$381 billion ($281 billion) for the 12 months ended March.
Singapore’s Next Gen gets $20m for US push
Singapore’s Next Gen Foods, which markets the vegetarian chicken brand Tindle, has raised $20 million from VCs including GGV Capital, with a view to entering the US.
India's Flipkart completes $3.6b funding round
Walmart-controlled Flipkart, one of India’s largest e-commerce players, has raised $3.6 billion at a valuation of $37.6 billion with significant private equity support.
Indonesia's Bukalapak set for domestic IPO
Indonesian e-commerce platform Bukalapak – which counts GIC, and Microsoft among its investors – has unveiled plans to become the first of the country’s technology unicorns to complete a domestic IPO.
Regulator blocks China live-streaming platform merger
China’s antitrust watchdog has blocked a merger of Huya and Douyu - the country's two largest video game live-streaming platforms - initiated by Tencent Holdings.
IDG leads $77m round for China health-tech player Synyi
Synyi.AI - a Chinese provider of artificial intelligence-enabled medical services - has raised RMB500 million ($77 million) in Series E funding led by IDG Capital.
India's Ola receives $500m pre-IPO round
Temasek Holdings and Warburg Pincus have joined a $500 million in Indian ride-hailing platform Ola ahead of an IPO.
Korea's Kurly raises $200m, targets domestic listing
Korean grocery delivery platform operator Kurly has raised a $200 million Series F round at a valuation of $2.2 billion, as plans for a US IPO are scrapped in favor of a local listing.
China community group buying platform Tongcheng Life goes bust
Tongcheng Life, a China-based community group buying business incubated by online travel agency Tongcheng-Elong, has announced its bankruptcy, blaming "poor management."
Eight Roads adds partner to India team
Eight Roads Ventures has promoted Ashish Venkataramani to partner in India. It brings the firm's partner count across Bangalore and Mumbai to five.
Advantage, Tokyo Century agree Japan battery carve-out
Advantage Partners is making another investment alongside Tokyo Century Corporation – which bought a stake in the GP two years ago – with an agreement to buy a battery business controlled by local conglomerate Showa Denko.
Tiger Global leads $144m round for India's DealShare
Tiger Global Management has led a $144 million Series D round for Indian social e-commerce start-up DealShare.
Baring Asia secures $324m exit from Korean courier business
Baring Private Equity Asia has sold Korean courier company Logen, ending an eight-year holding period that featured a disputed – and aborted – sale to CVC Capital Partners followed by an arbitration proceeding.
CMC leads $123m Series E for China noodle shop chain
CMC Capital has led a Series E funding round of nearly RMB800 million ($123 million) for Hefu Noodle, a Chinese noodle restaurant chain.
China's Crystal Stream backs Egypt e-commerce platform
Chinese VC firm Crystal Stream Capital has doubled down on a Middle East and Africa strategy with participation in a $40 million investment in Egyptian logistics start-up MaxAB.
China CRO player raises $50m to support US merger
DMed-Clinipace, a global contract research organization (CRO) with a presence in China, has raised $50 million in an extended Series C round led by Springhill Fund. Rock Springs Capital and Superstring Capital also took part.
SOSV raises $100m growth fund
Early-stage investor SOSV – known for accelerator programs such as China-based HAX and Chinaccelerator – has raised $100 million for its first growth fund designed to invest in Series B rounds and beyond.
TE Asia acquires two Indonesia cardiology practices
TE Asia Healthcare Partners, a Singapore-based hospital platform backed by TPG Capital, has acquired controlling stakes in two Indonesian cardiology centers.
Kotak hits $185m first close on India pre-IPO fund
India’s Kotak Investment Advisors has achieved a first close of INR13.9 billion ($185 million) for a pre-IPO fund.
India's Pine Labs raises $315m at $3.5b valuation
Indian financial technology provider Pine Labs has raised a $315 million round featuring BlackRock at a post-money valuation of about $3.5 billion.
China's Qiming targets listed healthcare businesses
Qiming Venture Partners is mobilizing its newly launched public equities unit – and $500 million fund – to participate as an anchor investor in Hong Kong IPOs by Chinese healthcare companies.
China O2O services player Daojia pursues US listing
Daojia, a China-based online-to-offline (O2O) home services provider that has previously received funding from KKR, Alibaba Group, and Ping An Group, has filed for an IPO in the US.
PE-backed China dental player files for Hong Kong IPO
Arrail Group, a leading Chinese dental chain that has raised about $400 million in private funding since 2010, has filed for a Hong Kong IPO.
VC-backed Indian game developer bought by Swedish strategic
Indian game studio PlaySimple has been acquired for about $360 million by Sweden’s Modern Times Group (MTG), setting up exits for Elevation Capital and Chiratae Ventures.