News
MBK targets $639m acquisition of Japan aged care business
MBK Partners has joined the list of private equity firms pursuing deals in Japan’s aged care and healthcare space, having launched a tender offer for Tsukui Holdings Corporation at a valuation of JPY66.9 billion ($639 million).
China's Yunqi promotes Yu Chen to partner
Chinese venture capital firm Yunqi Partners has promoted Yu Chen - who specializes in big data, cloud computing, autonomous driving, and robotics investments - to partner.
Advent buys majority stake in India's ZCL, MSPEA exits
Advent International has agreed to acquire Indian pharmaceuticals supplier ZCL Chemicals, setting up a minority exit for Morgan Stanley Private Equity Asia (MSPEA).
Brunei, CPE join Series C extension for China's Pony.ai
Chinese autonomous driving technology supplier Pony.ai has secured a Series C extension of $100 million featuring new investors Brunei Investment Agency and CPE. It takes the company’s total funding to date past $1.1 billion.
L Catterton recruits SE Asia, India leadership
Consumer-focused private equity firm L Catterton has recruited Yock Siong “Song” Tee and Anjana Sasidharan to leadership positions in Southeast Asia and India, respectively.
PE-backed Luckin files for bankruptcy in the US
Chinese coffee shop chain Luckin Coffee, which has several private equity backers, has filed for bankruptcy protection in the US to aid its restructuring efforts following the emergence of a sales fraud last year.
China vocational education provider gets $390m Series A
Fenbi, a China-based vocational education platform, has raised $390 million in a Series A round led by IDG Capital and Trustbridge Partners. Hony Capital also took part.
MIRA makes $2.6b bid for Australia's Vocus
Macquarie Infrastructure & Real Assets (MIRA) has offered to acquire Australian broadband internet provider Vocus Group for about A$3.4 billion ($2.6 billion). It follows a string of abandoned bids.
China's Kuaishou surges on debut after $5.4b Hong Kong IPO
Kuaishou, a Chinese video-sharing and social networking platform backed by Tencent Holdings, 5Y Capital and DST Global, started trading at nearly three times its IPO price following a Hong Kong IPO that valued the company at HK$1.1 trillion ($142 billion).
CDH exits Singapore equipment rental business
Japanese conglomerate Sumitomo Corporation has acquired Singapore-based construction equipment rental business Aver Asia, facilitating a full exit for CDH Investments.
Indigenous New Zealand LP backs pathology business
Te Puia Tapapa (TPT), a PE investor serving New Zealand indigenous groups, has backed a pathology business owned by New Zealand Superannuation Fund (NZ Super) and Ontario Teachers’ Pension Plan (OTPP).
India gaming platform MPL gets $95m Series D
Mobile Premier League (MPL), an Indian mobile gaming platform that matches users for competitive play, has raised a $95 million Series D round at a post-money valuation of $945 million.
Carlyle, Brighton Park invest $200m in India's Indegene
The Carlyle Group and US GP Brighton Park Capital have committed a combined $200 million to Indegene, an Indian technology provider for the healthcare and life sciences industries.
Tencent leads Series C for China gene sequencing player
Guangzhou-based precision diagnosis and gene sequencing company Vision Medicals has raised RMB200 million ($31 million) in Series C funding led by Tencent Holdings.
Temasek impact arm leads Series B for Vietnam dental player
ABC World Asia, the impact investment arm of Temasek Holdings, has led a $24 million Series B found for Kim Dental, a Vietnam-based dental clinic operator. Existing backer Aura Private Equity also participated.
CVC takes majority stake in Shiseido's personal care division
CVC Capital Partners is set to make its largest investment in Japan since before the global financial crisis, having agreed to purchase of a majority stake in Shiseido’s personal care business at a valuation of JPY160 billion ($1.52 billion).
NZ Super to back Pioneer's fourth fund
Auckland-based private equity firm Pioneer Capital has received a cornerstone commitment of NZ$100 million ($72 million) for its fourth fund from New Zealand Superannuation Fund (NZ Super).
India's Moonfrog Labs acquired by Swedish gaming studio
Swedish free-to-play gaming studio Stillfront has agreed to acquire 100% of Indian mobile games developer Moonfrog Labs, setting up exits for Tiger Global Management and Sequoia Capital India.
Lilly Asia Ventures raises $1.35b for healthcare funds
Lilly Asia Ventures (LAV) has raised $1.35 billion for its latest healthcare fund, having introduced a $450 million opportunity vehicle that sits alongside a core pool of $900 million.
CDH leads $108m Series B for China baby care brand
Babycare, a Chinese baby products brand, has raised RMB700 million ($108 million) in Series B funding led by CDH Investments. Sequoia Capital China and Huaxing Growth Capital also participated.
India’s Zetwerk secures $120m Series D
India’s Zetwerk, a marketplace for the outsourcing of small manufacturing jobs, has raised a $120 million Series D round led by US-based Greenoaks Capital and Lightspeed Venture Partners.
Orchid, Matrix commit $100m to China gaming platform
Orchid Asia and Matrix Partners China have participated in a $100 million Series B round for Chinese gaming company Quwan Network Technology. Matrix led the Series A last year.
EQT loses Singapore-based partner Tak Wai Chung
EQT has seen more turnover in its senior Asia team with the departure of partner Tak Wai Chung. The move comes as the firm looks to expand and reposition its business in the region.
CDC expands VC program with South Asia focus
UK development finance institution CDC Group has engaged two venture capital industry veterans as part of a VC program expansion in Africa and South Asia.