News
VC-backed Appier files for Japan IPO
Appier, a Taiwan-based advertising technology provider, has filed for a JPY26.4 billion ($250 million) Japan IPO. It sets up exits for several VC investors, including Sequoia Capital.
China’s Clover Biopharmaceuticals gets $230m Series C
Chengdu-based Clover Biopharmaceuticals has raised $230 million in Series C funding led by GL Ventures and Temasek Holdings. Oceanpine Capital, OrbiMed, and Delos Capital all re-upped.
Primavera-led consortium takes control of Zhaopin
A consortium led by Primavera Capital has agreed to acquire a controlling position in Chinese recruitment website Zhaopin at an implied valuation of A$2.2 billion ($1.7 billion).
China's AnchorDx completes $40m Series C
AnchorDx, a China-based medical technology developer focused on DNA sequencing and diagnostics, has raised a $40 million Series C round led by OrbiMed and WuXi Huiying Investment.
KKR commits $723m to Korean shipping services business
KKR has made a pre-IPO investment of KRW800 billion ($723 million) in Hyundai Global Service (HGS), the aftersales marine services arm of Korean shipbuilder Hyundai Heavy Industries Holdings (HHIH).
Japan's Kyulux raises $34m extended Series B
Japan-based Kyulux, which develops advanced lighting technology used in digital screens, has raised JPY3.6 billion ($34.3 million) from a group of VCs and strategic investors.
MBK exits China's Apex International
MBK Partners has agreed to sell Apex International, China’s second-largest air freight forwarder, to Swiss logistics giant Kuehne + Nagel.
CPE leads $300m round for China's ANE Logistics
ANE Logistics, one of China’s top three less-than-truckload (LTL) logistics players, has raised $300 million in funding led by CPE. Greater Bay Area Fund, Hong Kong-listed NWS Holdings, Liumai Capital, and Huagai Capital also took part.
B Capital launches SPAC
B Capital Group, a US-based venture capital firm with a presence in Singapore and a significant Asia portfolio, is looking to raise $300 million for a special purpose acquisition company (SPAC).
Temasek backs China industrial SaaS player
Temasek Holdings has led a RMB500 million ($77 million) round for Black Lake Technologies, a China-based software-as-a-service (SaaS) provider for manufacturers.
Korea's Tmon closes $276m pre-IPO round
PS Alliance, an investment unit of South Korean automotive and electronic components manufacturer Poongsung Group, has led a KRW305 billion ($276 million) commitment to local e-commerce platform Tmon.
CPE leads $123m round for China's Wangjiahuan
Shenzhen-based agricultural products distributor Wangjiahuan has raised RMB800 million ($123 million) in a Series B extension led by CPE.
India’s Zolve raises $15m seed round
Accel and Lightspeed Venture Partners have led a $15 million seed round for Zolve, an India-based digital bank focused on cross-border services.
KKR loses managing director in Singapore
Terence Lee, a managing director at KKR who leads technology, media and telecom (TMT) and growth equity investments in Southeast Asia, has left the firm.
China’s Regor Therapeutics raises $90m Series B
Lilly Asia Ventures (LAV) has led a $90 million Series B round for Regor Therapeutics, a Chinese drug developer specializing in bioinformatics.
China self-driving truck player Plus raises $200m
Plus, a China-based autonomous driving technology developer that specializes in trucks, has completed a $200 million round of funding led by Guotai Junan International, CPE, and automotive partssupplier Wanxiang.
China cancer screening business gains on Hong Kong debut
New Horizon Health, a China-based and venture capital-backed cancer early screening company, rose 215% on its trading debut following a HK$2 billion ($258 million) Hong Kong IPO.
China's CITIC sells US dental business
CITIC Capital Partners has exited US-based dental business DDS Lab – the private equity firm’s first acquisition in the US as a lead investor – to RoundTable Healthcare Partners for an undisclosed sum.
PE-backed JD Logistics set for Hong Kong listing
JD Logistics, a supply chain solutions and logistics provider that spun-out from Chinese online retailer JD.com, has filed for a Hong Kong IPO. The company has received $2.57 billion in private funding.
India's Avataar raises $100m top-up fund
Avataar Ventures, an India-based enterprise software investor that spun out from Norwest Venture Partners in 2019, has raised a $100 million opportunities fund that will do follow-on rounds for existing portfolio companies and make some new investments.
Carlyle to invest $200m in Korea's Kakao Mobility
The Carlyle Group has invested $200 million in Kakao Mobility, a transportation-focused spinout from Korea’s Kakao Corporation that offers taxi-hailing, designated driver, and other services.
Chinese virotherapy specialist Binhui Biotech raises $93m
Wuhan-based Binhui Biotech has raised RMB600 million ($93 million) in Series C funding led by Shenzhen-based Share Capital. Other investors include CICC Capital, Vertex Ventures China and Qianhai FOF under Shenzhen Capital Group.
Bharti Airtel to buy back stake in DTH business from Warburg Pincus
Warburg Pincus has agreed to exit its stake in Bharti Telemedia, the direct-to-home (DTH) satellite television services arm of Indian telecom services provider Bharti Airtel, through a share buyback worth INR31.3 billion ($429.5 million) in cash and shares.
Korean retailer Shinsegae invests in Southeast Asia's Grab
Korean retailer Shinsegae has invested in ride-hailing and online-to-offline services (O2O) platform Grab, as financial and strategic players from Korea and Japan continue their push into Southeast Asian technology unicorns.