News
LPs see no let-up in pace of new commitments - survey
More than half of LPs continue to establish new GP relationships at the same rate as before the pandemic, according to the latest installment of Coller Capital’s global private equity barometer survey.
Chinese pharmaceutical platform Yaoshibang raises $270m
Chinese B2B pharmaceutical trading platform Yaoshibang has raised $270 million from Guangdong Pearl River Investment, Baidu, Sunshine Insurance, Green Pine Capital Partners, Guangzhou government-backed S Fund, and an undisclosed sovereign wealth fund....
Vision Fund leads $360m Series C for Southeast Asia's Carro
Carro claims to have become Southeast Asia’s first automotive marketplace unicorn with the completion of a S$477 million ($360 million) Series C round led by SoftBank Vision Fund 2.
Korea delivery platform Barogo gets $72m Series C
Korean delivery platform Barogo has raised KRW80 billion ($72 million) in Series C funding featuring several local private equity investors, including LB Investment and STIC Ventures.
ChrysCapital exits US-based Infogain to Apax
ChrysCapital has exited Silicon Valley-based Infogain – an IT services provider that helped solidify the US-India cross-border opportunity set – to Apax Partners.
Vision Fund backs Sinovation's AI consulting business
AInnovation, an artificial intelligence (AI) consulting business established by Sinovation Ventures, has completed Series D funding led by SoftBank Vision Fund II. The size of the deal was not disclosed.
Lucian Wu leaves HQ Capital
Secondaries specialist Lucian Wu has left his role as a managing director with HQ Capital in Hong Kong.
Creador takes 30% stake in Malaysia tea brand Tealive
Malaysia-based middle-market private equity firm Creador has paid an undisclosed sum for a 30% stake in local tea shop operator Tealive.
China ride-hailing giant Didi files for US IPO
Chinese ride-hailing platform operator Didi, which has raised over $20 billion in private funding during its nine-year history and is valued at more than $60 billion, has filed to list in the US.
H Capital leads $300m round for China car trading platform
Chehaoduo, operator of China auto trading platforms Guazi and Maodou, which specialize in used and new cars, respectively, has raised $300 million in funding led by H Capital at a valuation of more than $10 billion.
Singapore fintech start-up MatchMove raises $100m
Singapore’s MatchMove, a financial technology start-up with several VC backers, has raised $100 million from US-based IT services provider Nityo Infotech.
AVCJ daily bulletin returns June 15
AVCJ’s daily bulletin will not be published on June 14 due to a public holiday in Hong Kong.
Asia PE technology tilt not to be feared - Hamilton Lane
Increased participation by PE investors in minority technology deals in Asia – and the significant contribution this has made to recent industry performance – should not be cause for concern, according to Juan Delgado-Moreira, vice chairman at Hamilton...
Mercury exits Australia's MessageMedia via $1.3b trade sale
Australian mid-market GP Mercury Capital is on course to exit local B2C mobile messaging platform MessageMedia after Sweden-based Sinch agreed to acquire the company for $1.3 billion.
India's Tata Digital makes healthcare, fitness investments
Tata Group’s digital unit has continued its investment spree, dipping into India’s healthcare and fitness spaces with the acquisition of telemedicine platform 1mg Technologies and a $75 million commitment to CureFit.
India's Zenoti gets Series D extension, hits $1.5b valuation
TPG Capital has led an $80 million Series D extension for Zenoti, an India-founded and US-headquartered software provider for the spa and wellness industry.
DFC backs Openspace, Chiratae funds
The US International Development Finance Corporation (DFC) – formerly the Overseas Private Investment Corporation (OPIC) – has made commitments to funds being raised by Southeast Asia-focused Openspace Ventures and India’s Chiratae Ventures.
Advent exits Crompton Greaves' India appliances business
Advent International has offloaded its final 5.4% holding in Crompton Greaves’ India-listed household appliances business, ending a gradual exit after a failed takeover.
China grocery players Dingdong, Miss Fresh file for US IPOs
Competing Chinese online grocery delivery platforms Dingdong Macai and Miss Fresh, recipients of more than $3 billion in aggregate private funding, have both filed to list in the US.
US VCs lead $60m round for Indonesia's BukuWarung
US-based Goodwater Capital and Valar Ventures, a firm co-founded by PayPal co-founder Peter Thiel, have led a $60 million round for Indonesian financial technology start-up BukuWarung.
Mekong invests in Vietnam appliances maker
Vietnam’s Mekong Capital has invested $10 million in local water purifier and electrical appliances maker Mutosi Group.
China gene sequencing company raises $63m
QitanTech, a gene sequencing start-up also known as Qitan Technology, has raised a RMB400 million ($63 million) Series B round led by Hillhouse Capital and a VC arm of CDH Investments.
Alibaba Cloud to invest $1b in Asia start-ups
Alibaba Cloud, the cloud computing and artificial intelligence unit of the eponymous Chinese internet giant, has pledged to invest $1 billion in Asia Pacific start-ups over the next three years.
China LiDAR specialist Hesai closes $300m Series D
Hesai Technology, a China-based developer of sensors used in autonomous driving, has raised a $300 million Series D round led by GL Ventures.