News
China teahouse chain Nayuki pursues Hong Kong IPO
Nayuki, a private equity-backed Chinese teahouse chain also known as Naixuecha, has filed for a Hong Kong IPO. It comes on the heels of a $100 million Series C round.
Hamilton Lane secures Asian support for global secondaries fund
Hamilton Lane has closed its fifth global secondaries fund on $3.9 billion, with Asian LPs accounting for 17% of the corpus.
PE-backed Arohan Financial Services files for India IPO
Arohan Financial Services, an Indian microfinance institution (MFI) that was acquired by Aavishkaar Group in 2012 and went on to receive funding from several other PE investors, has filed for a domestic IPO.
Ex-KKR executive to lead Indonesia's sovereign wealth fund
Ridha Wirakusumah, whose previous roles include serving as a director for Southeast Asia at KKR, has been chosen to lead Indonesia's new sovereign wealth fund.
Waterman set for $140m windfall from My Food Bag IPO
New Zealand’s Waterman Capital will realize up to NZ$193.9 million ($140 million) through the IPO of My Food Bag, a home delivery service that provides customers with ingredients and recipes to cook their own meals.
BRICS bank commits $100m to India state-backed fund-of-funds
NIIF Fund of Funds, a rupee-denominated fund-of-funds vehicle anchored by the Indian government, has reached the $800 million mark following a $100 million commitment from the country’s New Development Bank (NDB).
India's KreditBee secures $75m Series C
Premji Invest, Mirae Asset Capital, Alpine Capital and Arkam Ventures have contributed $75 million in Series C funding for Indian financial technology start-up KreditBee.
India Quotient seeks $80m for Fund IV
India Quotient, a venture capital firm known for making seed-stage investments in the likes of ShareChat, Sugar, and Lendingkart, is targeting $80 million for its fourth fund.
Korean e-commerce player Coupang set for US listing
Coupang, a Korean e-commerce business that has secured approximately $3.5 billion in private funding over the past decade, has filed for an IPO in the US.
Asia to play larger role in Eurazeo's second smart city fund
Asia is expected to feature more prominently – in terms of investors and investments – in Eurazeo’s second smart city venture capital fund, which has reached a first close of EUR80 million ($97 million).
China's Cloopen, Adagene complete strong US IPOs
Cloud services provider Cloopen and biotech developer Adagene, both backed by Sequoia Capital China, have raised a combined $460 million in their US IPOs.
China EV maker WM Motor gets $1.7b in debt financing
Chinese electric vehicle (EV) manufacturer WM Motor has secured RMB11.5 billion ($1.78 billion) in debt from domestic banks. It follows a RMB10 billion equity funding round featuring several government investors.
New Frontier to privatize US-listed China hospital business
The New Frontier Group-led consortium that acquired Chinese hospital operator United Family Healthcare (UFH) through a special purpose acquisition company (SPAC) in 2019 is now looking to take the US-listed business private at a valuation of around $1.6...
Cathay appoints executive president, makes partner promotions
Cathay Capital has announced a spate of global personnel appointments in private equity and venture capital, including the naming of Arthur Yeung as executive president.
Carlyle abandons pursuit of Japan Asia Group
The Carlyle Group and the chairman of Japan Asia Group (JAG) have abandoned their bid for the company after a tender offer failed to generate sufficient shareholder support.
China's Meishubao gets $40m Series D extension
Meishubao, a China-based online art education platform, has completed a Series D extension of more than $40 million that takes the overall funding round past $250 million.
Iron Pillar co-founder launches India venture growth firm
Sameer Nath, co-founder and a managing partner at Indian VC firm Iron Pillar, has spun out to form TrueScale Capital, which will follow a similar venture growth remit.
AVCJ daily bulletin returns February 16
AVCJ's daily bulletin will take a short break for the Lunar New Year holiday. Publication will resume on February 16.
Sequoia, Tencent lead Series E for China’s Miaoshou Doctor
Beijing Yuanxin Technology, operator of China-based online healthcare services platform Miaoshou Doctor, has raised RMB3 billion ($466 million) in Series E funding led by Sequoia Capital China and Tencent Holdings.
Quadrant becomes first Asia GP to make HEC top 10
Quadrant Private Equity has become the first Asia Pacific-based manager to make the top 10 in the HEC-Dow Jones Private Equity Performance Ranking.
Indian news app Dailyhunt raises $100m
Indian news app Dailyhunt has raised $100 million led by Qatar Investment Authority (QIA) and Glade Brook Capital Partners. It extends a $102 million Series H round last year featuring Google.
Temasek CEO steps down
Ho Ching, CEO of Singapore’s Temasek Holdings will step down from the government-controlled investment fund effective October 1. She will retire her board seat on the same date.
Match buys VC-backed Korean social platform for $1.7b
Hyperconnect, a Korean social media platform backed by Altos Ventures and SoftBank Ventures Korea, has agreed to an acquisition by online dating giant Match Group for $1.73 billion in cash and stock.
Eastern Bell seeks $600m for second US dollar fund
Eastern Bell Capital, a Chinese private equity firm that focuses on supply chains and logistics businesses, has set a target of $600 million for its second US dollar-denominated fund.